Public Service Loan Forgiveness
Complete Guide And Course
What Is Public Service Loan Forgiveness?
What Are The Requirements For Public Service Loan Forgiveness?
Watch the video to learn what is PSLF and the exact requirements in detail!
To summarize, these are the requirements to be able to apply and qualify for PSLF:
- Qualifying loan status
- 120 student loan payments
- Student loan payments that are in full and on time
- Qualifying employer
- Qualifying loan repayment program
This is a great resource for you from which I created these tutorials: https://studentaid.ed.gov/sa/repay-loans/forgiveness-cancellation/public-service
Why Choose PSLF? What Are The Pros and Cons?
It can be really hard to pick a student loan strategy. You almost have to look at yourself and needs right now as well as 10 to 20 years from now. Watch the video tutorial to get a detailed answer to this question!
Now if you cannot find qualifying employers, if you don’t think you can work for 120 payments, if you can bear to have student loans for the next decade – then you should think about trying to pay off your student debt instead. This is a great free guide on how to pay off your student debt in just several years!
What Are The Exact Steps To Apply For Public Service Loan Forgiveness
- Get hired and start working at qualifying facility/employer
- After 1-2 student loan payments (so 1-2 months of working with the qualifying employer), fill out the “Employment Certification” form and have your HR representative sign the form.
- Wait about 4-6 months as your loans are reviewed and then transferred to Fed Loan Servicing (the government’s student loan servicer).
- Ensure your loans have been properly transferred and all payments have been properly counted as qualifying for PSLF (see video for more detail).
- Every year, fill out the Employment Certification form as well as you Income Driven Repayment Plan Request form.
- After 120 payments, fill out the Employment Certification form one last time!
How To Make Sure You Get Approved For Public Service Loan Forgiveness
- Keep copies of all forms, payments, and W2’s in hard copies and digital copies
- Continuously submit your income driven repayment plan forms as well as your employer certification forms
- Continuously review all payments and make sure Fed Loan Servicing is properly tracking your payments
- Communicate via email to track and have hard copies of all answers and responses regarding PSLF
What Will You Actually Pay Over The Life Of Your Loan With Public Service Loan Forgiveness
Calculator Walk Through -Public Service Loan Forgiveness Versus Debt Freedom!
Watch the video tutorial to learn how to use the government’s free calculator to get a automatic comparison of PAYE, REPAYE, PSLF, versus getting debt free ASAP! This is the link to do these calculations yourself:
Become A Debt FreE PT in Just 2-3 Years!
Learn How To Pay Off Your Physical Therapy Student Loans
Debt freedom starts with the right career! Click here the above title to learn more about travel PT and how to potentially earn $100,000 a year*. Traveling is one of the best career routes to pay off your student loans since it combines incredible pay, unbeatable experience and flexibility!
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