Recent changes to the Public Service Loan Forgiveness (PSLF) program have expanded eligibility for service year alumni, making it faster to obtain student loan forgiveness for those working in public and non-profit careers.
The U.S. Department of Education released a waiver which allows student loan borrowers to count their term of service, including Peace Corps and AmeriCorps service, towards the ten years required to obtain PSLF — even if you put loans in forbearance or deferment and/or did not make qualifying payments during your service term. The waiver generally qualifies service alumni as under economic hardship during their service term, making them eligible to count their service term towards PSLF requirements. This waiver expires on Oct. 31 — apply today!
Service Year Alliance hosted a webinar last week with the U.S. Department of Education about the Public Service Loan Forgiveness program and how service year alums can participate. We recorded the conversation for you to watch anytime here:
You can find the Dept. of Ed’s presentation available in PDF here. We have also put together a brief FAQ document based on the conversation as well. To learn more, please see the extensive Public Service Loan Forgiveness Program FAQ and waiver FAQ on the Dept. of Education’s website.
Department of Education's Presentation
Public Service Loan Forgiveness Program FAQ
P.S. If you're a service year alum, be sure to register as an alum on ServiceYear.org to access future alum resources, benefits, and information like this PSLF webinar.
