PSLF Loan Certification Form – The PSLF form lets you provide the Social Security Administration (or the IRS) any payments that you make in order to pay for pensions or other benefits. It’s easy to fill in and could save you both time and money. It has various sections. This includes information about the employer, information about payment which counts towards PSLF and the process of recertifying employment.
PSLF Payments
Payouts that count towards PSLF could be any kind of payment, such as ones from federal student loans and repayment plans. You must have made at least 120 qualifying payments in the last ten-years to be qualified to participate in this program. It is possible to set up auto debits to make sure you are making eligible payments.
Previously, PSLF required the right type of payments and repayment plans. But recently the federal government expanded the program’s eligibility criteria by accepting late payments starting from 2007 onward. These changes also increase the repayment options and loan types that PSLF will take. Jon Toppen, MEA UniServ Director, conducts training for members in order to assist them in obtaining PSLF.
People who received the deferment under the Economic Hardship Deferment also qualify for the PSLF program. If you were granted these loans before January 1, 2013, you will be eligible for PSLF. Previously, only payments for federal student loans made through the Federal Family Education Loan program could count towards PSLF.
PSLF eligibility is technically possible in Direct Parent PLUS Loans as long as the parent holds an eligible job. Parent cannot receive PSLF benefits until the Direct Parent Plus Loan has been converted into a Federal Direct Consolidation Loan.
Recertification of Employment
The process of certifying employment on the PSLF form is a vital step in applying for the PSLF loan forgiveness program. To be eligible for this program, borrowers must have been employed for at least 10 consecutive years by a public-interest employer such as a government agency or a non-profit. Furthermore, they need to have made at least 120 loan repayments that qualify for the program during this period. The process of recertifying employment on the PSLF form is to submit it to MOHELA who will then review it and inform the borrower know the number of qualifying loan repayments they’ve made.
Each year, or whenever your position changes You must fill out your PSLF Form. This will make sure that you qualify for the program and will instantly transfer the loan to MOHELA which is the agency who manages the program. Once you’ve completed the application, you need to include any documents to prove that you’re still employed.
For the PSLF employment certificate, you are required to give personal information. It includes your name, Social Security Number, the date of birth and your address. You will also be asked to confirm any changes made to the details. After you’ve completed the form, you’ll be required to check a legal acknowledgment box to confirm that the information is accurate. Then, you must sign and date the PSLF employment certificate form. The form will be delivered to Department of Education.
You may recertify your employment status using the PSLF form as long as you’re employed at an eligible public service or government agency. This form will impact the amount of your PSLF payment or late partial payment or lump sum payment. No matter if you’re employed in a public service or private company, you’ll have to complete the PSLF form by the deadline to qualify for PSLF.
Download PSLF Loan Certification Form
Gallery of PSLF Loan Certification Form
