Whether you have made 120 qualifying payments, or not, you should fill out and submit the PSLF form annually or whenever you change employers. PSLF is a federal program that can erase your student loan balance after you make 10 years' worth of monthly payments, for a total of 120 payments.Use the PSLF Help Tool to complete the PSLF Application for Forgiveness. Use the Public Service Loan Forgiveness (PSLF) Help Tool to determine whether you're eligible for PSLF programs and guide you through the process. If you have federal debt and meet certain requirements, you could qualify in 2025. The College Cost Reduction and Access Act of 2007 established a new Public Service Loan Forgiveness (PSLF) Program. All borrowers, regardless of loan size, can use SBA's direct forgiveness portal. Applying for forgiveness using the portal can take as little as 15 minutes.