Temporary rule changes made a whole lot of previously ineligible loan types now eligible for Public Service Loan Forgiveness (PSLF). It’s easier than ever to qualify, but you must take certain steps depending on the type of loans you’ve got.
Taking the right steps today could save you tens of thousands or hundreds of thousands of dollars. Here are a few thoughts we’ve put together to raise awareness in these few remaining weeks before the PSLF waiver expires.
Consider this: 1. As of the end of the 2nd Quarter in 2022, there were about $218B in Federal Family Education Loan Program loans (FFEL) between 9.6 million borrowers.
Here are three time-sensitive things that need to be submitted by October 31, 2022 for a physician who is working full-time for a qualified employer or has worked in the past for a qualified employer.
1. Any loans pursuing PSLF have to be DIRECT loans or made to become DIRECT loans through a consolidation application on studentaid.gov/ 2. DIRECT Loans need to be on an Income-Driven Repayment (IDR) plan for borrowers intending to continue pursuing PSLF post-waiver.