Official Student Debt Cancellation Watch Thread
- Thread starter Serious
- Start date
88m3
Fast Money & Foreign Objects
Dear 88M3,
We're contacting you because, if you work in public service or have worked in public service at some point since October 2007, you may be eligible for the Public Service Loan Forgiveness (PSLF) program. The rules for who's eligible are currently broader than before, so even if you've been denied in the past, you may now be eligible. But these temporary changes expire October 31, 2022, and the process has multiple steps – so start today!
You may be eligible if
Under the temporary rules, any prior period of repayment will count as a qualifying payment, regardless of loan program, repayment plan, or whether you made the payment in full or on time.
The time-limited changes are making a huge difference. In 11 months, public servants across the country – such as teachers, nurses, and firefighters who had FFEL or Perkins program loans – have had over $12 billion in loans forgiven.
Step 1: Use PSLF Employer Search to verify your current or past employer's eligibility
Step 2: Apply to consolidate your FFEL or Perkins loans into the Direct Loan Program
Step 3: Apply for PSLF by October 31
Contact your loan servicer for help. Spread the word with co-workers, friends, and family who work in public service. You can share our blog. Tell them to act before October 31!
Sincerely,
Richard Cordray
Chief Operating Officer
Federal Student Aid
We're contacting you because, if you work in public service or have worked in public service at some point since October 2007, you may be eligible for the Public Service Loan Forgiveness (PSLF) program. The rules for who's eligible are currently broader than before, so even if you've been denied in the past, you may now be eligible. But these temporary changes expire October 31, 2022, and the process has multiple steps – so start today!
You may be eligible if
• | you work in public service or have worked in public service any time after October 2007 (e.g., at a non-profit organization or federal, state, Tribal, or local government), and |
• | you have federal student loans under either the Federal Family Education Loan (FFEL) Program or the Perkins Loan Program and consolidate the loans into a Direct Loan. |
The time-limited changes are making a huge difference. In 11 months, public servants across the country – such as teachers, nurses, and firefighters who had FFEL or Perkins program loans – have had over $12 billion in loans forgiven.
Step 1: Use PSLF Employer Search to verify your current or past employer's eligibility
• | You will need the Federal Employment Identification Number (FEIN) found in Box b of your W2 IRS form. You can also confirm the FEIN with your human resources officials. |
• | You will need your start and end dates of employment with each employer you have worked for in public service. |
• | If your employer is "likely ineligible/undetermined," it means we have not yet reviewed the employer's eligibility. But don't worry, you can still apply. As long as you complete the online application using the PSLF Help Tool by October 31, even if we haven't finished reviewing your employer, your application will be considered on time. |
• | Submit your consolidation application on StudentAid.gov before midnight Eastern time on October 31. FFEL borrowers who have previously consolidated can consolidate again for purposes of PSLF. |
• | By applying for consolidation by October 31, you will get to keep all your months of payments made prior to the consolidation for purposes of PSLF. After October 31, this will no longer be the case. |
• | The consolidation may take a few months, but you should not wait to apply for PSLF. You should immediately start your PSLF application (step 3). |
• | Submit your application using the PSLF Help Tool. Only through October 31, you do not need to be currently employed in the government or non-profit organization to receive PSLF! |
• | You and any of your public service employers must sign your form to certify your employment. Start this process now to allow time to get the employer signature(s). |
• | We know some employers may take some time to sign the form. As long as you do your part to generate a PSLF application by October 31 through the PSLF Help Tool, you can submit the form with the employer signature(s) after the deadline. |
• | Once you have the appropriate employer signature(s), submit your PSLF form to the PSLF servicer, MOHELA. Send it by upload, mail, or fax. |
| - | Upload it to mohela.com/uploadDocument if MOHELA is already your servicer. |
| - | Or mail it to U.S. Department of Education, MOHELA, 633 Spirit Drive, Chesterfield, MO 63005-1243. |
| - | Or fax it to 866-222-7060. |
Sincerely,
|
Chief Operating Officer
Federal Student Aid
nikkas really trying to fukk up PSLF for us? nikka i got 3 years left and im outta here 
Leavingtheecstasy
All Star
Easy. Add an "opt out" provision for people who don't want it.
Ta-da.
Now let the people have one fukkin thing
Ta-da.
Now let the people have one fukkin thing
I got 8nikkas really trying to fukk up PSLF for us? nikka i got 3 years left and im outta here
I might as well pay it off 
Spidey Man
Superstar
Not a lawyer but it's a federal program and has no effect on the states. They don't have much standing
@FAH1223 if I have only direct subsidized and unsubsidized loans, are those still covered by the cancellation bill?
Any direct federal loans are covered@FAH1223 if I have only direct subsidized and unsubsidized loans, are those still covered by the cancellation bill?
Yeah I see now. People who got unconsolidated FFEL loans got seriously fukked today