Although the limited-time PSLF waiver ended in October 2022, there are still programs and expansions available that PSLF borrowers may be able to take advantage of, most notably the one-time payment count adjustment for eligible borrowers.
Published February 13, 2024 7 min read
To help public service workers get closer to forgiveness, in October 2021 the Department of Education (ED) announced limited-time changes to the Public Service Loan Forgiveness (PSLF) Program rules, referred to as the limited-time PSLF waiver. The limited-time PSLF waiver allowed borrowers to receive credit for past periods of repayment that would otherwise not have qualified for PSLF. Among other borrower accommodations, the waiver allowed all payments by student borrowers to count toward PSLF, regardless of loan program or payment plan. It also waived the requirement that payments be made in the full amount and on-time for all borrowers.
Although that limited-time PSLF waiver ended in October 2022, there are still programs and expansions available that federal student loan borrowers may be able to take advantage of, as well as the possibility of additional waivers in the future. Learn more below.
While the limited-time PSLF waiver has expired, the primary eligibility criteria and benefits of PSLF remain. To be eligible for the program, you must:
Even with a thorough understanding of PSLF eligibility, the program requirements are dynamic and can be complicated to navigate on your own. Learn more about the ins and outs of PSLF here, or contact our GradFin student loan specialists 1 for a free consultation to better understand your forgiveness options. For the most up-to-date information on the PSLF program, visit the Federal Student Aid website at studentaid.gov/publicservice.
Borrowers pursuing PSLF are typically enrolled in an Income-Driven Repayment (IDR) plan. IDR plans are designed to stabilize borrowers’ monthly student loan payments based on their discretionary income. Types of IDR programs include:
The lesser of the following:
An important distinction between the PSLF and the above IDR plans is that if you enroll in PSLF, you will qualify for forgiveness in ten years rather than the 20 to 25 years associated with most IDR plans. Stay up-to-date on the latest changes to IDR programs at studentaid.gov and whitehouse.gov.
If you work full-time in the public sector and have federal student loans, you could be eligibile for PSLF. 2 Common job types that qualify for PSLF include:
To better understand your PSLF eligibility, take our quiz:
To qualify for PSLF, you must be employed at a US government organization at any level (federal, state, local, or tribal) – including U.S. military service, or a qualifying nonprofit organization.
Select all that apply.
Law enforcement and first responders
All of the above
Now that you understand the requirements of PSLF, our student loan specialists at GradFin can help determine your eligibility and next steps toward forgiveness programs like PSLF.
The PSLF program’s rules, complexity, and especially, fluidity around the federal student loan forgiveness relief plan, have led to confusion and misconceptions about applying to the program, making payments, and maintaining program eligibility.
To address these challenges, our student loan specialists are available to help you keep up with the changes that apply to your situation and give you peace of mind. Contact us for a free consultation and learn more at https://www.laurelroad.com/student-loan-forgiveness/.
If you missed the deadline for the limited-time PSLF waiver, you could still take advantage of other payment reduction and forgiveness opportunities, including the Income-Driven Repayment Account Adjustment, a one-time payment count adjustment for eligible borrowers enrolled in an IDR program. You could be eligible for the one-time account adjustment if:
To learn more, schedule a free call with a student loan specialist. Another potential forgiveness opportunity is through Temporary Expanded Public Service Loan Forgiveness (TEPSLF).
While PSLF requires enrollment in specific income-driven repayment plans, Temporary Expanded Public Service Loan Forgiveness (TEPSLF) expands the list of qualifying repayment plans to the Graduated Repayment Plan, the Extended Repayment Plan, the Consolidation Standard Repayment Plan and the Consolidation Graduated Repayment Plan. To clarify, TEPSLF is separate from the Limited-Time PSLF waiver, and resumed along with customary PSLF requirements following the PSLF waiver expiration on October 31, 2022. Borrowers may qualify under TEPSLF when they previously did not under PSLF. TEPSLF is a temporary program and will end once a certain amount of loan forgiveness has been granted.
To pursue PSLF and find out if you qualify, you must provide paperwork, including an Employment Certification Form (ECF) filled out by each eligible employer in your work history. An ECF will need to be completed at least annually or whenever you change employers while enrolled in the program. It’s recommended to complete this step at studentaid.gov using the PSLF Help Tool. You can get the ECF from MOHELA’s site or elsewhere, but if it’s not generated by the Help Tool it will add several months of additional processing time.
If you have questions about next steps or how to qualify for PSLF, our student loan consultants can help you understand all your options and guide you through the process. Learn more here For the most up-to-date information regarding PSLF, go to studentaid.gov/pslf.
