Employee Verification Form PSLF – To report any payments to the Social Security Administration or the IRS to pay of pensions and other benefits In order to report payments to the Social Security Administration or the IRS, a PSLF form can be used. It’s not hard to fill out, and it can save you time and money. It includes sections such as employer information, payments that are counted towards PSLF and recertifying the employment.
PSLF Payments
Any type of payment could count towards PSLF, even the federal student loan or repayment plans. You must have made 120 qualifying payments over the last ten years to be eligible to participate in the program. To make sure you’re making eligible payments make sure you set up automatic debit payments.
PSLF had previously demanded that you have the proper payments and be on a repayment plan. But, more recently, the federal government expanded the eligibility requirements to include late payments beginning in 2007. PSLF now will accept loans of all kinds and repayment conditions. Jon Toppen is Director at MEA UniServ and leads seminars on how to obtain PSLF eligibility.
Persons who were granted a deferment under Economic Hardship Deferment are also eligible for the PSLF program. The loans they pay towards count towards PSLF provided they were made before January 1 2013. Prior to 2013, only payments made for federal student loans through the Federal Family Education Loan program could count towards PSLF.
PSLF technically allows Direct Parent Plus loans, as long as the parent works in an eligible position. Benefits for parents from PSLF cannot be obtained if the Direct Parent Plus Loan can’t be converted to the Federal Direct Consolidation Loan.
Recertification of Employment
It is essential to verify that you are employed on the PSLF application form to be qualified for the PSLF loan cancellation program. In order to qualify for the program, borrowers have to be employed by a public-interest employer, such as a nonprofit or government agency, for a minimum of 10 years. In addition, the borrower must have made 120 eligible loan payments during the time frame. You must complete the PSLF form to confirm your employment. MOHELA will then review it and inform the borrower the number of qualifying loan repayments they’ve made.
You must submit the PSLF form every year, or whenever you change your job. This will allow you to be eligible for the program. MOHELA will then transfer the loan. After you have completed the form the supporting documents that show you’re still employed must be submitted.
You will need complete the PSLF employment certification form with details about yourself, like your name, address and Social Security number. It also asks you to verify any changes made to the information. Once you’ve completed your form, you’ll be asked to check a legal acknowledgment box to certify the information is correct. Last, sign and date this PSLF Employment certification form. This will be sent directly to the Department of Education.
If you’re working in a qualified government agency or public service and are a member of the public service, the PSLF will allow you to recertify your employment status. This form will impact the amount of your PSLF payment and late partial payments or lump sum payment. Whether you’re employed by either a public or private business, you’ll need to fill out the PSLF application before the due date to be eligible for PSLF.
Download Employee Verification Form PSLF
Gallery of Employee Verification Form PSLF
