3.) Any student loan won't do The type of student loan will also determine whether or not it qualifies for loan forgiveness under the PSLF program. According to the Department of Education, only loans made under the Direct Loan Program - William D. Ford Federal Direct Loan - will qualify. Therefore loans made under the Federal Perkins Loan (FPL) and Federal Family Education Program (FFEL) will not qualify. However, there is a work-around. Borrowers can consolidate these loans into the Direct Loan program to take advantage of the PSLF program. But keep mind, you should do your homework or speak with a financial advisor to determine whether consolidating will make sense for your unique financial situation. Federal Student Aid website. Remember: your choice, your future. --Written for MainStreet by Kemberley Washington, a certified public accountant and professor. Follow her on Twitter or connect with her on Facebook.