PSLF Waiver Form – A PSLF is utilized to report to the Social Security Administration, or IRS, payments that you pay to cover the costs of your pension and other benefits. It is very easy to fill out and will save you time and money. The form contains several sections, including Employer information, payment details that count toward PSLF and recertification of employment.
Payouts that count towards PSLF
Any kind of loan can count towards PSLF, even the federal student loan or repayment plans. To be eligible for the program you must have made at least 120 qualifying payments in the past ten years. The most effective way to be sure that you’re making eligible payments is to set up automatic debit payments.
PSLF previously required that you pay the appropriate payments and adhere to a repayment plan. But, recently the federal government has expanded its eligibility criteria to allow late payments from 2007. PSLF’s loan acceptances and repayment options have been expanded due to the changes. Jon Toppen, MEA UniServ Director, facilitates training sessions for members in order to aid them in qualifying for PSLF.
PSLF can also be accessed for those who have received a Deferment under the Economic Hardship Deferment. If you’ve received these loans prior to January 1st, 2013, the payments you made towards PSLF are counted. PSLF was prior to that it was limited to payments for federal student loans under the Federal Family Education Loans Program.
PSLF is technically available for Direct Parent Plus Loans as long as the parent holds an employment that is eligible. Parent cannot receive PSLF benefits until the Direct Parent Plus Loan has been converted into the Federal Direct Consolidation Loan.
Recertification of employment
The process of certifying employment on the PSLF form is an essential step in applying for the PSLF loan forgiveness program. To be qualified for the program, borrowers must have been employed for a minimum of 10 consecutive years with a public-interest employer such as a government agency or nonprofit. Furthermore, they need to have completed at least 120 qualifying loan repayments during this period. MOHELA reviews the PSLF Form and will notify the borrower the number of loan repayments that qualify for a loan they’ve made.
Every year, or whenever you change job or a change in your job, or if you have a change of job, PSLF form must also be submitted. This will make sure that you’re eligible to participate in the program. It will also automatically transfer your loan to MOHELA, the agency that administers the program. Once you have submitted the form you will need to submit supporting documents to prove that you’re still working.
For the PSLF job certification it is required that you give your personal details. It comprises your name, Social Security Number, date of birth , and address. The form also asks you to verify any changes you have made to the details. After you’ve completed the form you will be required to check the box to affirm that the information you entered is accurate. Last, complete and sign this PSLF Employment certification form. This will be sent by the Department of Education.
You can recertify employment status by filling out the PSLF form, provided you work for a qualifying public agency or service. This form may affect your PSLF payments. It can also impact the late payment of partial or lump sums, as well as PSLF payments. You have to complete the PSLF form regardless of whether or not your employer is private or public business.
Download PSLF Waiver Form
Gallery of PSLF Waiver Form
