Submit PSLF Form Online – A PSLF is used to report to Social Security Administration, or IRS the amount of payments you pay to cover the cost of your pension and other benefits. It’s easy to fill in and can help you save both time and money. It includes sections such as employer information, payment amounts that are counted towards PSLF and recertifying the employment.
PSLF payments that count
Payouts that count towards PSLF can be any type of payment, including those from federal student loans as well as repayment plans. In order to be eligible for the program you must have at least made 120 qualifying payments in the last ten years. Auto-debits are the best method of ensuring that you are making qualified payments.
Previously, PSLF required the right kind of repayment and payment plans. However, recently the federal government increased the eligibility requirements for the program, accepting late payments from 2007 and onward. PSLF now will accept loans of all kinds and repayment terms. Jon Toppen from MEA UniServ provides training to help members be eligible for PSLF.
PSLF is also available for individuals who have received a deferment under the Economic Hardship Deferment. If you have had these loans prior to January 1st, 2013, the payments you made towards PSLF will count. The past, payments that were made through federal student loans that were part of the Federal Family Education Loan program weren’t qualified for PSLF.
PSLF technically allows Direct Parent Plus loans, as long as the parent is employed in an eligible position. Parents cannot be eligible for PSLF benefits unless the Direct Parent Plus Loan has been converted into an Federal Direct Consolidation Loan.
Recertification
The PSLF loan forgiveness program requires that you have been recertified as an employee. To be qualified for the program, borrowers must be been employed for a minimum of 10 consecutive years by a public-interest employer like a government agency or nonprofit. In addition, the borrower must have made 120 eligible loan payments during the time frame. Submitting the PSLF form to recertify your employment requires that you submit it to MOHELA. MOHELA will review it and inform you of how many qualifying payments you’ve made.
The PSLF is required to be completed each year. This will allow you to be eligible for the program. The form will also transfer the loan to MOHELA (the agency that runs it). Once you’ve filled out the application, you must submit any supporting documents to prove that you’re still employed.
You’ll need complete the PSLF employment certification form with personal information, such as your name and Social Security number. The form also requires you to mark an option to confirm any changes to the information. Once you have completed the form you will be asked for legal acknowledgment to verify that the information you have provided is true and correct. Then, you must sign and date your PSLF Employment certificate form. The form will be delivered to Department of Education.
In the event that your position is in a government organization or in a public service, you are able to confirm the status of your employment using the PSLF form. It is important to note that this form may impact the amount of your PSLF payments. This includes late partial payments and lump sum payments and PSLF payments. For PSLF eligibility, you will be required to fill out the PSLF form before the due date.
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