Public Service Loan Forgiveness PSLF Program Form – You use a PSLF to declare any payments you make to the Social Security Administration or the IRS in order to cover the cost to pension and other benefits. It is very easy to fill out and can reduce time as well as money. There are many sections on the form, such as information about your employer, details about payments that are counted towards PSLF and recertifying your job.
PSLF payments that count
Any kind of payment can count towards PSLF including the federal student loan or repayment plans. For the program to qualify, you must have made at most 120 qualifying payments in the past ten years. You can set up auto debit payments to ensure you have made the qualifying payments.
PSLF was earlier subject to a set of payments and repayment plans. However the federal government has increased its eligibility criteria by accepting late payments as a requirement of the program. PSLF now accepts loans of all types and repayment terms. MEA UniServ Director Jon Toppen leads trainings for members on how to be eligible for PSLF.
PSLF can also be accessed to individuals who have received a deferment under the Economic Hardship Deferment. If you received these loans prior to January 1st of 2013, your payments to PSLF will count. Prior to 2013, only payments made for federal student loans under the Federal Family Education Loan program could count towards PSLF.
Direct Parent Plus Loans are technically eligible for PSLF in the event that the parent has an employment with a qualifying position. Parents are only eligible for PSLF when they are eligible for PSLF if their Direct Parent Plus Loans are converted into Federal Direct Consolidation Loans.
Recertification
It is crucial to certify employment on the PSLF application form to be qualified to participate in the PSLF loan cancellation program. Borrowers must be employed by a public sector employer for at minimum 10 years in order to qualify for this program. They must also make at least 120 eligible loan payments during that time. Recertifying employment on the PSLF form requires submitting it to MOHELA who will then review the form and let the borrower know the number of qualified loan payments they’ve made.
Each year, or when you change jobs and you are relocating, or if you have a change of job, PSLF form needs to be completed. This will make sure that you are eligible for the program. Additionally, it will transfer the loan to MOHELA who manages the program. After submitting the application, all supporting documents should be provided to prove that you’re working.
For the PSLF job certification the applicant must give your personal details. This includes the name of your employer, Social Security Number, date of birth , and address. It also asks you to verify any changes made to the information. After completing the form, you will be asked to confirm the accuracy of the information by selecting a checkbox. Then, you need to confirm and date the PSLF Employment certification form, which is sent to the Department of Education.
You can recertify your employment status using the PSLF form provided you are employed in an accredited public agency or public sector. This form will affect your PSLF payment or late partial payment or lump sum payment. To ensure PSLF eligibility, you will need to complete the PSLF form before the due date.
Download Public Service Loan Forgiveness PSLF Program Form
Gallery of Public Service Loan Forgiveness PSLF Program Form
