This week we received an email from Dave, who is concerned his employer may not be eligible for Public Service Loan Forgiveness (PSLF). In our discussion today, we’ll cover the process for verifying PSLF employer eligibility and outline the necessary actions. If you have any questions for th...
All is not perfect with forgiveness plans. The kinds of jobs that may make you eligible for PSLF often pay significantly less than private-sector positions. You might be able to repay your loans more quickly by getting a job with a higher earning potential, even if it doesn’t qualify you...
Employer-paid student loan repayment assistance programs (LRAPs) are also tax-free through 2025 under 26 USC 127(c)(1)(B), as amended by the Consolidated Appropriations Act, 2021. Other types of student loan forgiveness, however, are taxable. For example, the forgiveness of the remaining deb...
Once borrowers complete 120 payments that meet the above requirements, they qualify to have their federal student loans forgiven,as long as they still work for a PSLF-eligible employer at the time they apply for forgiveness and at the time it is granted. ...
The 30-hour rule was also put into place. It used to be that to qualify for PSLF you had to be “full time” however your employer defined that. Now, the government defines it as working at least 30 hours at a nonprofit (whether the employer considers that full time or not). ...
One thing to remember is that these programs typically only assist borrowers with federal loans. If you have private medical school student loans, they may not be eligible. Student loan refinancing Student loan refinancingreplaces one or more existing loans with a new one through a private lender...
Rather, you just need to verify you work for an employer eligible for the program and then submit a PSLF form through your loan servicer. Borrowers with at least one approved PSLF form began seeing their payment counts adjusted in ...
Rather, you just need to verify you work for an employer eligible for the program and then submit a PSLF form through your loan servicer. Borrowers with at least one approved PSLF form began seeing their payment counts adjusted in late 2023. The payment recount is continuing through early ...
Rather, you just need to verify you work for an employer eligible for the program and then submit a PSLF form through your loan servicer. Borrowers with at least one approved PSLF form began seeing their payment counts adjusted in late 2023. The payment recount is continuing through early...