Public Service Loan Forgiveness waivers end this month. Apply NOW!

Only weeks remain for student loan borrowers to apply for a Public Service Loan Forgiveness (PSLF) waiver.

Last fall, the PSLF program was revamped to allow many more borrowers to qualify for additional loan relief.

Important: The PSLF waiver is different from the federal student loan debt relief of $10,000 or $20,000 announced by President Biden in August.

PSLF reduces the amount that employees who work in public service (police, firefighters, teachers, nonprofits, etc.) owe on their federal student loans. The PSLF limited waiver allows borrowers to receive credit for payment periods that previously did not qualify—even if they did not make a payment.

But borrowers must apply by Oct. 31, 2022.

To apply, start by gathering your W-2 form and your employer’s Federal Employer Identification Number. For help, click here.

If you apply by the Oct. 31 deadline, you can qualify for temporary PSLF relief even if your application is still being processed.

For more information, visit the Student Borrower Protection Center’s FAQ page. 

Through education and advocacy, nonprofit Consumer Action fights for strong consumer rights and policies that promote fairness and financial prosperity for underrepresented consumers nationwide.

www.consumer-action.org

©2022 Consumer Action
  Click here to unsubscribe from this mailing list.