In a recent CNBC story about one of the first people to qualify for public service loan forgiveness, we asked readers who also had made it to the end of the journey to write in.
We received just one success story. The rest of the comments and questions from borrowers made it clear there's a lot of misinformation about how the government program works.
One person's servicer said their loan forgiveness would be taxed (that's not true). Another wanted to know if their job counted as public service (It's complicated).
With the help of student loan expert Mark Kantrowitz, we've addressed some of the most common misunderstandings.
"Most myths start off rooted in truth, but twisted," Kantrowitz said.
In case you've never heard of public service loan forgiveness, the program was signed into law by President George W. Bush in 2007, and allows certain not-for-profit and government employees to have their federal student loans canceled after 10 years of on-time payments.
There are three basic requirements:
1) Your loans must be federal direct loans.
2) Your employer must be a government organization at any level, a 501(c)(3) not-for-profit organization or some other type of not-for-profit organization that provides public service.
3) By the end, you need to have made 120 qualifying, on-time payments in an income-driven repayment plan or the standard repayment plan.
Believe it or not, that's just the basics.