No, as long as you continue to work full-time for a government or not-for-profit agency (and meet all the other requirements), a second job won’t impact your eligibility. That said, the additional income from the second job will probably cause your payment to go up assuming you’re on an income-driven repayment plan (which you should be if you want PSLF.)
All loans must be in grace or repayment status and cannot be in default. Borrower must have graduated or be enrolled in good standing in the final term preceding graduation from an accredited Title IV U.S. school and must be employed, or have an eligible offer of employment. Parents looking to refinance loans taken out on behalf of a child should refer to https://www.laurelroad.com/refinance-student-loans/refinance-parent-plus-loans/ for applicable terms and conditions.
If you’re more about saving as much money as possible, you might want to give the debt avalanche a shot. “With this method, you throw the largest payment you can at your highest-interest-rate debt every month, while paying the minimum payments on your other debts.” By focusing on interest rates rather than the balances, you save more money overall.
One final thought concerning the use of private student loans: get a strong understanding of the interest rates as well as the loan’s other terms and conditions. Most lenders offer you a choice between a variable or fixed APR (annual percentage rate), so be sure to read up on the differences between the two interest rate options. Keep in mind that the rates advertised may not necessarily be the rates you qualify for based on your creditworthiness — or that of a qualifying cosigner.
You can compare private student loan options on our site. Keep in mind there are a number of popular private student loan names you may see and hear, and it is bound to be confusing. Sometimes the names will be generic, and other times the name will refer to a specific lender’s program or brand name. The name of the student loan program is not as critical as an understanding of how the particular loan terms work, or how they may impact you. To give you a quick primer on some of the most popular private student loan names you may encounter, see the list below.