{"id":10250,"date":"2022-09-05T09:30:50","date_gmt":"2022-09-05T14:30:50","guid":{"rendered":"https:\/\/blogs.acu.edu\/hr\/?p=10250"},"modified":"2022-10-20T08:48:11","modified_gmt":"2022-10-20T13:48:11","slug":"public-service-loan-forgiveness","status":"publish","type":"post","link":"https:\/\/blogs.acu.edu\/hr\/2022\/09\/05\/public-service-loan-forgiveness\/","title":{"rendered":"Public Service Loan Forgiveness – Oct. 31 Deadline to Apply"},"content":{"rendered":"

The U.S. Department of Education’s temporary but significant waiver to PSLF<\/span> program rules expires on Oct. 31, 2022.<\/strong> The Limited PSLF Waiver waiver\u00a0allows borrowers to receive credit for past periods of repayment that would otherwise not qualify for\u00a0PSLF<\/span>. The waiver is available to borrowers until Oct. 31, 2022. You can learn more about the waiver and if it applies to you here<\/a>.\u00a0We encourage you to try again if you previously applied for\u00a0PSLF<\/span>\u00a0and were denied because of your\u00a0loan<\/span>\u00a0type.<\/strong><\/p>\n

Here are some of the critical improvements available under the Limited PSLF<\/span>\u00a0Waiver:<\/p>\n\n\n\n\n\n
\u2022<\/td>\nUnder standard PSLF<\/span>\u00a0program rules, if you consolidate your loans, only qualifying payments that you make on the new Direct Consolidation\u00a0Loan<\/span>\u00a0count toward the 120 payments required for\u00a0PSLF<\/span>. Any payments you made on the loans before you consolidated them would not count. However, if you consolidate these loans into a Direct\u00a0Loan<\/span> before Oct. 31, you may be able to receive qualifying credit for payments made previously on those loans through the waiver.<\/td>\n<\/tr>\n
\u2022<\/td>\nIf you have Federal Family Education Program loans, Perkins, or other federal student loans, you’ll need to consolidate your loans into a Direct Consolidation Loan<\/span>\u00a0to qualify for\u00a0PSLF<\/span>.<\/td>\n<\/tr>\n
\u2022<\/td>\nPast repayment periods will now count whether or not you made a payment on time, for the total amount due, on a qualifying repayment plan.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

To take advantage of the waiver:<\/p>\n\n\n\n\n\n
1.<\/td>\nIf you don’t have one, register for a Federal Student Aid ID at StudentAid.gov\/fsa-id\/create-account<\/a>.<\/td>\n<\/tr>\n
2.<\/td>\nHave or get Direct Loans. You can consolidate your loans at\u00a0StudentAid.gov\/consolidation<\/a>.<\/td>\n<\/tr>\n
3.<\/td>\nSubmit a\u00a0PSLF<\/span>\u00a0form to certify employment for\u00a0PSLF<\/span>\u00a0that you want credit for through the waiver. You can generate a\u00a0PSLF<\/span>\u00a0form for ACU to sign at\u00a0StudentAid.gov\/pslf<\/span><\/a>. In the\u00a0PSLF<\/span> Help Tool, it’s essential to use the appropriate Federal Employer Identification Number (EIN). For our employees, when searching for Abilene Christian University, our EIN is 750851900. After the PSLF<\/span>\u00a0Help Tool gives you a PDF, please sign and date it and submit it to Human Resources for signature.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

There’s no specific application for the waiver. Once borrowers have submitted PSLF<\/span>\u00a0forms and\/or consolidated into the Direct\u00a0Loan<\/span> program, they will automatically opt in and receive\u00a0forgiveness<\/span> if they qualify or an increased qualifying payment count.<\/p>\n

This opportunity is time sensitive. Borrowers must consolidate their loans and\/or submit a\u00a0PSLF<\/span>\u00a0form\u00a0before Oct. 31<\/strong>. Learn more at\u00a0StudentAid.gov\/PSLFWaiver<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

The U.S. Department of Education’s temporary but significant waiver to PSLF program rules expires on Oct. 31, 2022. The Limited PSLF Waiver waiver\u00a0allows borrowers to receive credit for past periods of repayment that would otherwise not qualify for\u00a0PSLF. The waiver is available to borrowers until Oct. 31, 2022. You can learn more about the waiver […]<\/p>\n","protected":false},"author":5034,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[18],"tags":[],"class_list":["post-10250","post","type-post","status-publish","format-standard","hentry","category-announcements"],"_links":{"self":[{"href":"https:\/\/blogs.acu.edu\/hr\/wp-json\/wp\/v2\/posts\/10250","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blogs.acu.edu\/hr\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blogs.acu.edu\/hr\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blogs.acu.edu\/hr\/wp-json\/wp\/v2\/users\/5034"}],"replies":[{"embeddable":true,"href":"https:\/\/blogs.acu.edu\/hr\/wp-json\/wp\/v2\/comments?post=10250"}],"version-history":[{"count":3,"href":"https:\/\/blogs.acu.edu\/hr\/wp-json\/wp\/v2\/posts\/10250\/revisions"}],"predecessor-version":[{"id":10356,"href":"https:\/\/blogs.acu.edu\/hr\/wp-json\/wp\/v2\/posts\/10250\/revisions\/10356"}],"wp:attachment":[{"href":"https:\/\/blogs.acu.edu\/hr\/wp-json\/wp\/v2\/media?parent=10250"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blogs.acu.edu\/hr\/wp-json\/wp\/v2\/categories?post=10250"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blogs.acu.edu\/hr\/wp-json\/wp\/v2\/tags?post=10250"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}