The Financial Realities of Elder Care & Long-Term Care Insurance
Full-time employees of religious not-for-profit organizations now may qualify, under some circumstances, to have their loans forgiven after 10 years. For a limited time only, you may receive credit for past student loan repayments that would otherwise not qualify for PSLF. If you apply for a waiver by October 31, 2022, all payments towards Direct Loans made after October 1, 2007, may count towards PSLF.
The PSLF was designed to remove the burden of student debt for those working in the public interest.
There are five qualifications for PSLF:
It takes 10 years to become eligible for PSLF because borrowers must make 120 qualifying monthly payments before applying. Borrowers must be working for a qualifying employer at the time of application and when the remaining balance of their loan is forgiven.
If you think you are eligible for PSLF, the Department of Education (DOE) suggests that you apply. The DOE will use the application to determine if your student loan payments qualify for PSLF. If you work or worked for more than one employer during the 10-year repayment period, you will need to prove that each employer meets program guidelines.
The PSLF has the potential to greatly reduce the student debt burden for those working within religious organizations. Determining whether you qualify for PSLF and completing the application process can be cumbersome. The Department of Education Federal Student Aid website provides resources to assist with the process: the Public Service Loan Forgiveness (PSLF) Help Tool, Public Service Loan Forgiveness Form or the application, the PSLF Limited Waiver Information and the Public Service Loan Forgiveness Program FAQ .
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Las traducciones de cualquier material a idiomas que no sean el inglés son para la conveniencia de aquellos que no leen inglés. Hemos intentado proporcionar una traducción precisa del material original en inglés, pero debido a las diferencias de la traducción a un idioma extranjero, pueden existir ligeras diferencias.
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