Because of the COVID-19 emergency, the U.S. Department of Education announced temporary changes to Public Service Loan Forgiveness (PSLF) program rules . For a limited time, borrowers may receive credit for past periods of repayment that would otherwise not qualify for loan forgiveness. This opportunity expires Oct. 31, 2022. Apply today!
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Under the new temporary rules, any prior period of repayment will count as a qualifying payment, regardless of loan program, repayment plan, or whether the payment was made in full or on time. But you do continue to need qualifying employment.
This change will apply to borrowers with Direct Loans, those who have already consolidated into the Direct Loan Program, and those who consolidate into the Direct Loan Program by Oct. 31, 2022. Learn more about what PSLF requirements are waived .
Typically, to qualify for the Public Student Loan Forgiveness program, you must:
- be employed by a U.S. federal, state, local, or tribal government, a 501(c)3 non-profit or a non-profit organization that provides a qualifying service (including military service);
- work full-time for a qualifying organization(s);
- have Direct Loans (or consolidate other federal student loans into a Direct Loan);\
- repay your loans under an income-driven repayment plan; and
- make 120 qualifying payments.
However, for a limited time under the current PSLF waiver:
- You may receive credit for past periods of repayment that would otherwise not qualify for PSLF.
- If you have FFEL, Perkins, or other federal student loans, you’ll need to consolidate your loans into a Direct Consolidation Loan to qualify for PSLF both in general, and under the waiver.
- Past periods of repayment will now count regardless of whether you actually made a payment, made that payment on time, for the full amount due, or under a qualifying repayment plan.
- Periods of deferment or forbearance, and periods of default, continue to not qualify.
- The limited waiver opportunity will be offered until October 31st, 2022. After this period, normal PSLF requirements will apply.