Staying on the Student Loan Debt train, I wanted to send out the TIME SENSITIVE Student Loan Forgiveness info below!
There are only TWO MONTHS left to apply for a Waiver in the Temporary Public Service Loan Forgiveness (PSLF) Expansion!
Also below! Forgiveness opportunities for non-public service workers which require action BY THE END OF 2022!
If you have Student Loans that were eligible for forbearance the past couple of years, you may qualify for forgiveness!
Consolidation of loans, which is required to qualify for either type, temporarily does not set your payment count to zero, but again only if completed prior to the deadlines listed.
PSLF Waiver Program Details:
Who qualifies: Public Service Borrower’s: 501(c)3 or government employees working 30hrs+/week (full-time) or a combo of eligible jobs equaling 30+ hrs/week. (1/4 of all people are considered public servants.)
StudentAid.gov/pslf to apply.
Need to have applied, not approved, by 10/31/22. Payments made after the deadline will not count towards new eligibility rules if you haven’t signed up for the Waiver.
Step One: CHECK YOUR LOAN at StudentAid.gov, (won’t show private loans).
Step Two: Consolidate your loans if needed (30-45 days to complete) if you have more than one eligible for forgiveness.
Step Three: Submit Employment Certification Form (including previous employers back to 2007 with exact hire dates & Employer’s EIN #)
Step Four: Follow up to ensure processing
Restriction: Federal Loans only. Not available for consolidated loans to a private lender.
Income Driven Repayment (IDR) 20yr or 25yr Forgiveness (do not need to be public servant!):
4M Borrowers in public and non-public careers who have paid for at least 20yrs can get their loans forgiven.
Who qualifies: Those with consolidated publicly held loans on an Income Based Repayment Plan; Graduate Loans included.
Age 30+ are the most impacted, as impacts loans that existed before 2010.
Visit StudentAid.gov to consolidate loans BEFORE THE END OF 2022.
You do not need to apply for a Waiver, but the loans must be set up correctly on an income-based repayment plan.
FFEL (private-type loans issued before 2010, guaranteed by the government) are now eligible for consolidation.
I am not a Student Loan expert, but these people are.
Questions? Free help for Borrower’s with The Institute of Student Loan Advisors (TISLA) https://freestudentloanadvice.org/
Unlocking Abundance 