#PSLF #studentloans #forgiveness #loanrepayment #financialfreedom
Are you missing out on Public Service Loan Forgiveness (PSLF) benefits?
π¨ Attention all individuals who were working towards Public Service Loan Forgiveness (PSLF) but gave up along the way! π¨
Let me share my personal experience with you. I, too, was in your shoes. I worked at nonprofits for years, diligently making payments towards my loans with the hope of eventually qualifying for PSLF. However, I lost hope and decided to abandon my efforts, thinking my payments weren’t counting as I expected.
Discover unexpected eligible payments
I recently decided to revisit my eligible payments, and to my surprise, I had accumulated more qualifying payments than I thought! π Payments made during the COVID-19 pause and even payments accrued while my loans were deferred in grad school were eligible. These $0 payments were adding up without me even realizing it!
Get your paperwork in order for forgiveness
Feeling hopeful, I took action. I reached out to my past employers to verify my employment history, gathered all necessary paperwork, and submitted my forgiveness application in late February. And just like that, I received $145k in loan forgiveness! π°
Changes in forgiveness eligibility
Moreover, the forgiveness rules have evolved. You no longer need to be working for a qualifying employer at the time of forgiveness. As long as you worked for a qualifying employer during 120 eligible payment periods, you are eligible for forgiveness. This policy change opens up more opportunities for forgiveness!
Check your eligibility before the deadline
As the November election approaches, it’s crucial to check your eligibility for PSLF. Don’t miss out on this valuable opportunity to have a portion of your loans forgiven.
Important note for Mohela loan servicers
For those with Mohela as your loan servicer, forgiveness processing is currently paused until the end of July. Despite this temporary halt, it’s still advisable to gather all your documents now to be prepared for the submission as soon as the processing resumes.
Don’t let missed opportunities pass you by! Take the time to review your eligible payments, gather required documents, and reposition yourself for PSLF benefits. Your financial freedom awaits! π
Remember, it’s never too late to revisit your PSLF journey and potentially unlock a significant amount of loan forgiveness. Act now and make the most of this valuable program!
That transition to Mohela was a hot mess. And now theyβre transitioning again? π€¦π»ββοΈ
Also, adjunct hours seem to count now!