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May 29, 2018

Temporary Expanded PSLF

FIRST COME, FIRST SERVED!  Hurry, hurry, step right up, if you've filed an application for PSLF and been denied due to a nonqualifying repayment plan, you might be able to get some relief.

The Consolidated Appropriations Act provided limited funding (350 million) to help borrowers who made payments that would have counted towards the 120 required to earn PSLF, except that they were enrolled in a nonqualifying repayment plan (like Graduated or Extended). The Department of Ed is calling this opportunity Temporary Expanded Public Service Loan Forgiveness (TEPSLF).

To qualify under TEPSLF, you must have:

  • submitted a Public Service Loan Forgiveness Application for Forgiveness and had that application denied only because some or all of your payments were not made under a qualifying repayment plan for PSLF;
  • had at least 10 years of eligible full-time employment certified by a qualifying employer and approved by FedLoan Servicing; and
  • made 120 qualifying payments under the new requirements for TEPSLF while working full-time for the borrower’s qualifying employer or employers.

Get the details here and don't wait.

By Heather | Category: Public Service Loan Forgiveness  
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