PSLF Employer Form – The PSLF form allows you to provide the Social Security Administration (or the IRS) any payments that you make to pay for pension or other benefits. It’s simple to fill out and could help you save time and cash. It has sections that include employer information, the payment of which are counted towards PSLF and recertifying employment.
Payments that count toward PSLF
PSLF will count any type payments made, including those that are part of federal student loan repayment plans. To be eligible for the program you have to have at least made 120 qualifying payments in the past ten years. To make sure you’re making eligible payments, set up automatic-debit payments.
PSLF had previously demanded that you make the right kind of payments and adhere to an arrangement for repayment. But, recently the federal government widened its eligibility criteria to allow late payments starting in 2007. PSLF now accepts loans of all types and repayment conditions. Jon Toppen is Director at MEA UniServ and leads trainings on how to obtain PSLF eligibility.
PSLF is also available to those who have received a Deferment under the Economic Hardship Deferment. If you received the loans prior to January 1, 2013, payments will be counted towards PSLF. Before January 1st 2013 only federal student loans through the Federal Family Education Loan Program would be eligible to be considered for PSLF.
PSLF is technically available for Direct Parent Plus Loans so in the event that the parent is employed at an employment that is eligible. The parent won’t be qualified for PSLF when the Direct Parent Plus Loan is not converted into a Federal Direct Consolidation Loan.
Recertification of employment
Recertifying employment on PSLF form is a crucial step in applying for the PSLF loan forgiveness program. In order to qualify for the program, borrowers have to be employed by a public-interest employer, like an agency of government or a non-profit organization, for a minimum of 10 years. Also, they must make a qualifying loan payment in this period. MOHELA examines the PSLF Form and will inform the borrower of the number of loan repayments that qualify for a loan they’ve completed.
Every year, or when your position changes If your job is changed, you need to fill out your PSLF Form. This will prove your eligibility for the program. The loan will automatically transfer to MOHELA which is the agency that manages the program. Once you’ve filled out the application, you must submit any supporting documents to prove that you’re still working.
To get the PSLF employment certificate it is required that you provide personal information. This comprises your name, Social Security Number, date of birth and address. The form also requires you to confirm any changes to the information by checking the box. Once you’ve completed your form, you’ll be required to sign a legal acknowledgment box to verify that the information is accurate. Finally, you should sign and date this PSLF employment certification form. It will be forwarded to by the Department of Education.
Recertifying your employment status can be done on the PSLF Form as long as you work in a qualified public service or government organization. Remember that this form can affect the amount of your PSLF payments and late partial payments as well as lump sum payment. No matter if you work in a public service or private business, or another type of employment The PSLF application has to be submitted before the deadline in order to qualify for PSLF.
Download PSLF Employer Form
Gallery of PSLF Employer Form
