I applied for the waiver on the second day. They just lowered me from 5.5 remaining years to 2.5 a week ago. And they said I may go even higher with a manual review. I'm absolutely ecstatic because I had payments denied because I paid early. I'm absolutely elated!!!! I save screenshots of everything!!
I graduated grad school in 2018… I’ve only been in the non-profit workforce for less than 4 years…. Should I start paying monthly payments now while I still work for a non-for profit… and try to make on time payments for 10 years? Or is it too late? I’ve also worked for various non-profits in the last 4 years… but have not made regular payments due to the pandemic…if I start paying now it will be the year 2035…. Will this still be valid during that year?!?
@@janissevalenzuela Read the pandemic forgiveness. It clearly says 0 payments during the pause count for forgiveness. But you know it doesn't happen automatically? You have to have applied.
Great video. I was in public service for 12 year from 2006 to 2018. I had paid student loans for the duration. My loans were FFEL. I saw the info on the new PSLF waiver and immediately consolidated my loans in for a Direct loan. When I go to the PSLF help tool, it recognizes my employer as eligible buy my payment as not since, it hasn't been updated yet to acknowledge my prior payment. From what I read, the update to the self-help tool will be coming later. I just wanted to point that out to others who are in a similar situation as myself.
I am retired law enforcement officer with 30 years of service. I retired in 2013. I have been paying for my daughter’s tuition since 2007. I spoke with a representative of MOHELA, who services the loan, about PSLF today (9/18/2023). I was told that PSLF would not apply to me because I am no longer working in law enforcement. I started paying for my daughter’s tuition in tuition in 2007. We have a consolidated Parent Plus Loan. Have been paying on it since 2007. Am out I out of luck?
I am one of those who had Perkins loans that were not direct and was able to qualify due to the 1 year temporary plan that made it ok as long as I consolidated the loans before the end of the one year period. 87K in loans were erased. Thank you Uncle Sam! (I did have 15 years of public service)
I'm not seeing the question, what about the credit report? Do they report this as a brand new loan to start paying on disregarding your history of the original loan if you also have to consolidate?
it's a bit ridiculous you have to pay on these loans for 10 years and work in public service it should be one or the other so if I graduate med school and work in a community clinic or as a teacher for 15 years but my payments only began a few years ago i have to wait another 10 years?? how does this make sense? Alot of people are working in public service long before they graduate like I have been
That's a really interesting situation! I would suspect that it has to do with the idea that you're working and providing the public service which you're able to do because of the degree you earned. It's as though the program was designed with the intention of getting more college-educated people to work in the public sector.
@@PracticalPersonalFinance I worked in public service long before i started school tho is the point, they helped some with school but i had to take out loans just to keep the position i had i didnt even move up so if ive been at the same place for 20 years doin public service, the 10 year clock only starts after i finished which make no sense
I graduated grad school in 2018… I’ve only been in the non-profit workforce for less than 4 years…. Should I start paying monthly payments now while I still work for a non-for profit… and try to make on time payments for 10 years? Or is it too late? I’ve also worked for various non-profits in the last 4 years… but have not made regular payments due to the pandemic…if I start paying now it will be the year 2035…. Will this still be valid during that year?!?
Hi there! Thank you so much for this video. It is very helpful. I used the PSLF tool and I'm in the process of certifying employment and it's telling me I have zero qualifying payments. I have 6+ years of working for qualifying employers and have made regular payments during those years. Do you know why it would show 0 payments? Would this theoretically change after I submit the PSLF form?
I got into the PSLF in 2009 with Navient. I work in public service. I just found out they took me out the program without contacting me. Now they sold the loan to another company. What can I do?
Hey Chris! Sorry for the late reply here. If you’ve been making payments and working for a qualifying employer, it’s likely they’ll count toward PSLF under these new rules. I would start with the PSLF Help Tool I referenced in this video, and then I’d reach out to the Department of Ed for further help and clarification. Good luck!!
Probably now but... I previously had an Ffel loan. before it qualified. when. I was denied forgiveness, I said eff this and had a loan from my 401 to pay off the balance. is there any way to get that back? I had been at work for the full amount of required time and made all on time payments. at the time I thought I was qualified for forgiveness, I had about 6k left. I was just tired of making payments and was really upset when. they said I didn't qualify because of loan type.
I'm still confused. Do you have to be on a specific repayment plan to be eligible for PSLF or just as long as you make payments and certify your employer?
How does this all apply to someone whose loans were deferred in 2019 due to the pandemic? I graduated in December 2018 and when they weee deferred by the govt because of pandemic I have never started paying? I’m an educator. Will I be able to qualify for this?
I only worked for a qualifying employer for a year in 2018-2019...is it worth it? I doubt I'd work for another qualifying employer anytime soon and I have currently been making more than the minimum monthly payments to hopefully be free of student loans by next year so even if I fill out this form, I feel that one year wouldn't make a difference but I am not sure. Also does paying more than the min amount count as multiple monthly payments?
Kind of late to this but I have one ffel loan with navient. I’ve been employed in government service for 8 years at the end of this year. On time payments every month should I still consolidate and apply? Or wait till my 10 year mark arrives?
Good question! Was the loan in forbearance due to the CARES act and the pandemic? If so, all of those months count! If not and this was a pre-pandemic forbearance, then I’m not so sure.
My wife is a director at a non profit hospital and is enrolled in this. She's been employed there for 5 and half years. Do you think this will work in the end. That after 10 years it will be forgiven. She's worried because she hears mixed results from other people.
I heard that only 10K gets forgiven after ten years of payments. Is that true or do they forgive the rest of the loan amount? And does this work for graduate schools as well?
DOES ANYONE KNOW IF A PAYMENT MADE DURING THE CURRENT FORBEARANCE DUE TO COVID COUNT? FOR EXAMPLE IF IM SENDING PARTIAL PAYMENT EVEN THOUGH WE ARE IN FORBEARANCE?
I believe that even if you are not paying, each month still counts as long as you are appropriately employed! Make sure you submit your documentation now to be sure and to lock in those payments!
1) I did not consolidate my loans until Dec post- med school grad. Can those 6 months of utilized Grace Period count with PSLF waiver? 2) At the end of residency, I switched from IBR to REPAY (to bring the interest rate down). While I applied in Jan 2017, FedLoans didn't complete the process till end of May 2017. Thus Jan-May (5 months didn't count). This long processing is on THEM, not me! Can I get those 5 payments back under the PSLF waiver?
I went online to check my eligibility and it said it was since they were not under income driven plan even though I’ve been working and paying for 10 yrs.
I've been teaching for 12 years and making payments for approximately 10 years. I called my loan servicer to reapply for the income based driven plan when I was notified about the PSLF opportunity. I'm apprehensive on if I consolidate the loans then they may not qualify which would really be a disappointment. Any advice?
Hey Lemar, thanks for being a teacher. I appreciate what you do!!! If you’ve been making payments for 10 years, your loans should qualify for forgiveness. I would suggest using the PSLF Tool on the Department of Education / Student Aid website, to certify those payments, to get a good idea of where you’re at in relation to PSLF. I personally wouldn’t trust my servicer to find out this information for me.
And on the topic of consolidation; I don’t believe that it would affect your ability to qualify for PSLF, at least right now with these expanded rules available due to the pandemic. As long as it is a Direct Consolidation Loan and NOT a private consolidation loan.
The federal student loans are money for tax payers. Like double whammy for the tax payers. No forgiveness means more taxes for the tax payers. The student asked for the loan should payback. The student should have a job to attend college and few classes at a time. The federal government should stop all loans, until all the loans are pay. Americans don't want irresponsible people. Already uneducated by the college and universities.
Am I the only one who is having major ethical concerns about this? I've qualified for this for a few years now. But I love my job! I don't feel like I should be treated as a charity case.
![[Full Episode] The Restaurant War Thailand ศึกพ่อค้าซ่าแม่ค้าแซ่บ Episode 4 | 13 ต.ค. 67](http://i.ytimg.com/vi/h8N9tY46P-M/mqdefault.jpg)
Finally!
After 15 years of paying my consolidated loans and working in public service, I qualify!
Praise Jesus!!!
How much in dollar amount was forgiven?
So not only will you get a pension but the tax payers gets to pay off your loans. Yah for you! Let’s all go get loans to not pay.
@@kristophergiraud1724 Shut up
I applied for the waiver on the second day. They just lowered me from 5.5 remaining years to 2.5 a week ago. And they said I may go even higher with a manual review. I'm absolutely ecstatic because I had payments denied because I paid early. I'm absolutely elated!!!! I save screenshots of everything!!
I graduated grad school in 2018… I’ve only been in the non-profit workforce for less than 4 years….
Should I start paying monthly payments now while I still work for a non-for profit… and try to make on time payments for 10 years? Or is it too late?
I’ve also worked for various non-profits in the last 4 years… but have not made regular payments due to the pandemic…if I start paying now it will be the year 2035…. Will this still be valid during that year?!?
@@janissevalenzuela Read the pandemic forgiveness. It clearly says 0 payments during the pause count for forgiveness. But you know it doesn't happen automatically? You have to have applied.
Great video. I was in public service for 12 year from 2006 to 2018. I had paid student loans for the duration. My loans were FFEL. I saw the info on the new PSLF waiver and immediately consolidated my loans in for a Direct loan. When I go to the PSLF help tool, it recognizes my employer as eligible buy my payment as not since, it hasn't been updated yet to acknowledge my prior payment. From what I read, the update to the self-help tool will be coming later. I just wanted to point that out to others who are in a similar situation as myself.
Do you know if those of us in public service (yet are now retired) are still eligible for loan forgiveness?
Its true I received my congrats letter from Fedloan servicer today. God bless you.
How many jobs u put down
Great. Now the janitors and minimum wage workers will pay the loan YOU SIGNED FOR! This society is sick.
@@kristophergiraud1724 don’t hate the players , hate the game
I am retired law enforcement officer with 30 years of service. I retired in 2013. I have been paying for my daughter’s tuition since 2007. I spoke with a representative of MOHELA, who services the loan, about PSLF today (9/18/2023). I was told that PSLF would not apply to me because I am no longer working in law enforcement. I started paying for my daughter’s tuition in tuition in 2007. We have a consolidated Parent Plus Loan. Have been paying on it since 2007. Am out I out of luck?
Thanks buddy, that was really informative. I appreciate your assistance.
My pleasure!! Glad it helped and hope you get your loans forgiven!
My son was in the Peace Corps, does his deferred 24 months of payment count towards the PSLF 120 qualified payments? Now he is teaching.
I am one of those who had Perkins loans that were not direct and was able to qualify due to the 1 year temporary plan that made it ok as long as I consolidated the loans before the end of the one year period. 87K in loans were erased. Thank you Uncle Sam! (I did have 15 years of public service)
I'm not seeing the question, what about the credit report? Do they report this as a brand new loan to start paying on disregarding your history of the original loan if you also have to consolidate?
it's a bit ridiculous you have to pay on these loans for 10 years and work in public service it should be one or the other so if I graduate med school and work in a community clinic or as a teacher for 15 years but my payments only began a few years ago i have to wait another 10 years?? how does this make sense? Alot of people are working in public service long before they graduate like I have been
That's a really interesting situation! I would suspect that it has to do with the idea that you're working and providing the public service which you're able to do because of the degree you earned. It's as though the program was designed with the intention of getting more college-educated people to work in the public sector.
@@PracticalPersonalFinance I worked in public service long before i started school tho is the point, they helped some with school but i had to take out loans just to keep the position i had i didnt even move up so if ive been at the same place for 20 years doin public service, the 10 year clock only starts after i finished which make no sense
A lot of people pay the loans they freely sign up for. Heck a lot of suckers worked while going to school, not thinking the poors taxes will pay it.
@@kristophergiraud1724 taxes have nothing to do with student loans
Where's the link to the PSLF form to fill out?
I graduated grad school in 2018… I’ve only been in the non-profit workforce for less than 4 years….
Should I start paying monthly payments now while I still work for a non-for profit… and try to make on time payments for 10 years? Or is it too late?
I’ve also worked for various non-profits in the last 4 years… but have not made regular payments due to the pandemic…if I start paying now it will be the year 2035…. Will this still be valid during that year?!?
Hi there! Thank you so much for this video. It is very helpful. I used the PSLF tool and I'm in the process of certifying employment and it's telling me I have zero qualifying payments. I have 6+ years of working for qualifying employers and have made regular payments during those years. Do you know why it would show 0 payments? Would this theoretically change after I submit the PSLF form?
You have to get your employment certified and signed ( wet signature) then upload to Mohela.
I got into the PSLF in 2009 with Navient. I work in public service. I just found out they took me out the program without contacting me. Now they sold the loan to another company. What can I do?
Hey Chris! Sorry for the late reply here. If you’ve been making payments and working for a qualifying employer, it’s likely they’ll count toward PSLF under these new rules. I would start with the PSLF Help Tool I referenced in this video, and then I’d reach out to the Department of Ed for further help and clarification. Good luck!!
Probably now but...
I previously had an Ffel loan. before it qualified. when. I was denied forgiveness, I said eff this and had a loan from my 401 to pay off the balance. is there any way to get that back? I had been at work for the full amount of required time and made all on time payments. at the time I thought I was qualified for forgiveness, I had about 6k left.
I was just tired of making payments and was really upset when. they said I didn't qualify because of loan type.
Thanks for explaining this so well.
My pleasure!!! Hope your loans get forgiven!!
I'm still confused. Do you have to be on a specific repayment plan to be eligible for PSLF or just as long as you make payments and certify your employer?
How does this all apply to someone whose loans were deferred in 2019 due to the pandemic? I graduated in December 2018 and when they weee deferred by the govt because of pandemic I have never started paying? I’m an educator. Will I be able to qualify for this?
I only worked for a qualifying employer for a year in 2018-2019...is it worth it? I doubt I'd work for another qualifying employer anytime soon and I have currently been making more than the minimum monthly payments to hopefully be free of student loans by next year so even if I fill out this form, I feel that one year wouldn't make a difference but I am not sure.
Also does paying more than the min amount count as multiple monthly payments?
Awesome video, thanks!!!
Do I qualify for the PSLF if the loan is mine but my husband is the public server? He is a firefighter.
I refinanced my student loans with a company called earnest does that mean I’m screwed or does that kind of consolidation loan still qualify?
I've been in non profit for 4 years but have not made payments towards pslf. Will this qualify?
Kind of late to this but I have one ffel loan with navient. I’ve been employed in government service for 8 years at the end of this year. On time payments every month should I still consolidate and apply? Or wait till my 10 year mark arrives?
Consolidate and apply
If you do a direct consolidation loan, are you still eligible to income based repayment?
I worked at dollar general the last 11 years do I qualify foe payment relief
It sucks, I've been paying for 10 years but I've only been in public service for the past 6 years.
DO it anyway!!
Still certify all of those payments if you can!! You’ve only got a few years left to reach forgiveness!!
Hi ! What if I didn’t make any payments at all and it was in forbearance but my employer is eligible ?
Good question! Was the loan in forbearance due to the CARES act and the pandemic? If so, all of those months count! If not and this was a pre-pandemic forbearance, then I’m not so sure.
My wife is a director at a non profit hospital and is enrolled in this. She's been employed there for 5 and half years. Do you think this will work in the end. That after 10 years it will be forgiven. She's worried because she hears mixed results from other people.
She needs to certify her employment every year. It will work for her. I am almost at 5 yrs pslf and my qualifying payments are accurate.
I heard that only 10K gets forgiven after ten years of payments. Is that true or do they forgive the rest of the loan amount?
And does this work for graduate schools as well?
PSLF doesn’t currently have a limit. The total amount of loan plus interest will be forgiven.
DOES ANYONE KNOW IF A PAYMENT MADE DURING THE CURRENT FORBEARANCE DUE TO COVID COUNT? FOR EXAMPLE IF IM SENDING PARTIAL PAYMENT EVEN THOUGH WE ARE IN FORBEARANCE?
I believe that even if you are not paying, each month still counts as long as you are appropriately employed! Make sure you submit your documentation now to be sure and to lock in those payments!
@@PracticalPersonalFinance thank you so much
Yes from March 2020 until May 2022. Make sure you submit your employers verification form.
1) I did not consolidate my loans until Dec post- med school grad. Can those 6 months of utilized Grace Period count with PSLF waiver?
2) At the end of residency, I switched from IBR to REPAY (to bring the interest rate down). While I applied in Jan 2017, FedLoans didn't complete the process till end of May 2017. Thus Jan-May (5 months didn't count). This long processing is on THEM, not me! Can I get those 5 payments back under the PSLF waiver?
I went online to check my eligibility and it said it was since they were not under income driven plan even though I’ve been working and paying for 10 yrs.
This is one of the things that the Pandemic Waiver fixes. The website is not necessarily updated yet. Just download, complete, and submit the form!
I've been teaching for 12 years and making payments for approximately 10 years. I called my loan servicer to reapply for the income based driven plan when I was notified about the PSLF opportunity. I'm apprehensive on if I consolidate the loans then they may not qualify which would really be a disappointment. Any advice?
Hey Lemar, thanks for being a teacher. I appreciate what you do!!! If you’ve been making payments for 10 years, your loans should qualify for forgiveness. I would suggest using the PSLF Tool on the Department of Education / Student Aid website, to certify those payments, to get a good idea of where you’re at in relation to PSLF. I personally wouldn’t trust my servicer to find out this information for me.
And on the topic of consolidation; I don’t believe that it would affect your ability to qualify for PSLF, at least right now with these expanded rules available due to the pandemic. As long as it is a Direct Consolidation Loan and NOT a private consolidation loan.
Thank you for your instant feedback. I just completed the account process, now waiting 1-3 days for verification.
@@PracticalPersonalFinance one more question, which loan servicer would you recommend to consolidate with?
So I served for 7 yrs, but I don’t work in public service. Does it make since to apply for PSFL.
If you were in the military I believe you would be eligible
If you owe alot, you should enroll in an income based program for 20 or 25 yrs forgiveness.
Can I just quickly make 120 payments and apply to get the rest forgiven?
No each qualifying payment has to be made per month. So 10 yrs.
I’m a active duty soldier if apply for this loan would the government forgive this loan to me?
You have to make 10 years worth of payments.
The federal student loans are money for tax payers. Like double whammy for the tax payers. No forgiveness means more taxes for the tax payers. The student asked for the loan should payback. The student should have a job to attend college and few classes at a time. The federal government should stop all loans, until all the loans are pay. Americans don't want irresponsible people. Already uneducated by the college and universities.
I just got my loans in washed last week.
I don't qualify for the waiver ,😭😭😭
Darn it!!!
Do people on an IDR qualify for PSLF?
Yes! Don't wait apply for pslf and get your emoyment certified
Can, an independent contractor 1099 who works for a non profit organization employer full time but does not get W2, be qualified for PSLF?
probably not - as an independent contractor you are actually working for yourself in the eyes of the IRS
Am I the only one who is having major ethical concerns about this?
I've qualified for this for a few years now. But I love my job! I don't feel like I should be treated as a charity case.
Then don't apply for it....simple as that