Limited waiver provides way to get you closer to loan forgiveness but the opportunity ends Oct. 31, 2022
Many state and federal workers, local government workers and workers at nonprofit organizations have pursued careers in public service after an expensive college education, while many more are going to school while working full time.
For those still working to pay off the student loans that helped finance your education, you could be eligible for relief from the federal government: A “forgiveness” of the balance of your loans after you’ve made 120 payments.
According to the Federal Student Aid website, if you are employed by a U.S. federal, state, local, or tribal government or not-for-profit organization, you might be eligible for the Public Service Loan Forgiveness Program (PSLF).
The Public Service Loan Forgiveness Program allows qualifying federal student loans to be forgiven after 120 qualifying payments (10 years), while working for a qualifying public service employer.
Note: If you are new to the Public Service Loan Forgiveness Program and want some background about the program, visit the PSLF information website. There’s also a PSLF tool that helps you apply for this opportunity.
Important! A PSLF waiver offers a way to get closer to loan forgiveness. An Oct. 31, 2022, deadline approaches! The “limited PSLF waiver” refers to the time-limited changes to Public Service Loan Forgiveness Program rules that allow borrowers to receive credit for past periods of repayment that would otherwise not qualify for PSLF. However, this opportunity ends on Oct. 31, 2022. So, be sure to act now and use the links above to see if this opportunity applies to you.