may not prepay past your next annual recertification date. The Public Service Loan Forgiveness Program (PSLF) was created to encourage individuals to enter and continue to work full-time in public service jobs. Let’s look at the following three topics to see how you can complete the Public Service Loan Forgiveness form to get your loans forgiven and tips to help you qualify. When you graduate from a TEACH Grant eligible program of study, you need to: When you do not graduate from, but otherwise leave your TEACH Grant eligible program of study, you need to meet one of the following requirements within 120 days of leaving school: Remember—In order to maintain your grant status you must: Important to Know—If you don't meet these requirements, your TEACH Grants may be converted to Direct Unsubsidized Loans that you'll have to repay in full, with interest charged from the date of each TEACH Grant disbursement. Meet all requirements for certifying that you are teaching or that you intend to satisfy your service obligation, as described in your Agreement to Serve (, Certify that you are meeting (or intend to meet) the requirements of your service obligation; or. To get the most benefit from the program, you should switch to an Income-Driven Repayment (IDR) plan if you're not already on one. Direct Consolidation Loans first disbursed on or after October 1, 2008 that repay loans also first disbursed on or after October 1, 2008 are eligible. If you do not intend to fulfill your teaching obligation and you do not plan to enter into. H�Ԕ�n�0��} You have a network of support to help you succeed with your federal student loan repayment. You may prepay your loans (make lump sum payments) and have those payments count towards forgiveness. PHEAA conducts its student loan servicing operations for federally-owned loans as FedLoan Servicing. Don't forget to include the service member's name and account number (if you have it). h�bbd``b`��! Meet all requirements for further certifying that you are teaching or that you intend to satisfy your service obligation, as described in your Agreement to Serve (, Called or ordered to active duty status for more than 30 days as a member of a reserve component of the Armed Forces named in 10 U.S.C. As a result, you WILL NOT have to pay federal income tax on the amount of your loans that is forgiven. 1097. NOTE: If you consolidate your loans, you may be at risk for not being eligible for the SCRA benefit. However, this loan type may only be re-consolidated if combined with another loan. All rights reserved. Update your mailing address, phone number, and email address before you leave! Each prepayment You’ll need to start over and make 120 qualifying payments on the new Direct Consolidation Loan. Box 69184 Harrisburg, PA 17106-9184 You may also fax your application to 717-720-1628. Public Service Loan Forgiveness (PSLF) If you are employed full-time with a qualifying public service organization or serving as a full-time AmeriCorps or Peace Corps volunteer, you could potentially qualify for forgiveness on your Direct Loans after 120 qualifying payments on an eligible repayment plan. The loans you're paying on, how you pay them, and the work you do all play a part in determining whether you reach forgiveness. Direct Loans first disbursed on or after October 1, 2008 are eligible. 2B. Thank you for your commitment to teaching! Forms Assistance can prepopulate the form making it easier and more convenient to submit your request. Find out how Federal Student Aid partners with loan servicers to be here when you need help. 3. You must be working for a qualifying employer at the time you submit your PSLF form applying for forgiveness AND at the time the remaining balance on your loan is forgiven. We will send you quarterly emails and an annual summary of this interest. Direct Debit is the most convenient way to make your student loan payments—on time, every month. You do not complete your TEACH Grant eligible program of study, and within 1 year after you cease enrollment at your school: You have not applied for and been determined eligible for a suspension of the 8-year period for completing your service obligation under one of the conditions described in your Agreement to Serve; You have not reenrolled in a program for which you would be eligible to receive TEACH Grants; or. To apply, send an email to FedLoan Servicing at TEPSLF@myfedloan.org requesting that the Education Department reconsider your eligibility for … Consolidation could make your loans eligible for the Public Service Loan Forgiveness Program. If your employment does not qualify for PSLF/TEPSLF, you still may be eligible for loan forgiveness under an Income-Driven Repayment (IDR) plan. Complete the TEACH Grant Certification Form Online. H��S]O�0}�_q��d_T�IL�����л�Xʲv���]��@O.KӦ�{�=�̃��p�>�� �X���1�Ԃ�R�)��MD*u 7p�\��y ��D���2�a��\&���bh�1��h�q{�.���u��Nj������`�)��9���T@*�pU&�T!��B�z�� ��$�2T�o�W���ԈI�G�����tߺ�f�����N���.�[�4y��7�Ĺ����n�1����M��D�P��0��j=��g�*ðE���ڬ��^�� Xˍ2S�Y�Js�OJ=�����I�!J]�D]�K�RihmO�S-����ʆf���܄�&nR����#��wa{�:f�$��f���ٸ�? Changes to the Public Service Loan Forgiveness (PSLF) Program and New, Single PSLF Form Federal Student Aid (FSA) is committed to ensuring borrowers have the information they need to determine if the Public Service Loan Forgiveness (PSLF) Program is right for them. You may be eligible to have the interest rate on your loans reduced to 0% for up to 60 months. Payments are only considered qualifying during periods when you are required to make a payment. If you do not periodically submit the PSLF form, then at the time you apply for forgiveness you will be required to submit a PSLF form for each employer where you worked while making the required 120 qualifying monthly payments. If you have any questions about your eligibility, contact us. You complete your TEACH Grant eligible program of study, but you do not begin or do not maintain qualifying employment within a timeframe that would allow you to complete your required 4 years of teaching within the 8-year period described in your Agreement to Serve. ... submits form to FedLoan Servicing FedLoan Servicing determines borrower has Direct Loans qualifies By submitting this form, my student loan(s) held by the Department will be transferred to FedLoan Servicing… July 2020-Start Residency, Create FedLoan Servicing Account (if Servicer is not FedLoan Servicing) & Submit “Employment Certification Form” for PSLF You will need to create an account with FedLoan Servicing (the only loan Servicer that handles PSLF) If I qualify for forgiveness, only the remaining balance on my Direct Loan(s) will be forgiven. FedLoan Servicing 6. If you do not know what repayment plan you are on for your Direct Loans, visit StudentAid.gov and find out. A government organization, including volunteering with AmeriCorps or Peace Corps, A not-for-profit organization that is not a 501(c)(3) organization and which provides certain qualifying services, Work full-time as defined by your employer, or at least 30 hours per week, whichever is higher, Work for more than one qualifying employer for a total of more than 30 hours per week, Direct Unsubsidized Loans (including TEACH Grants that were converted to Direct Unsubsidized Loans), Direct PLUS Loans for graduate or professional students, Direct Consolidation Loans (including Special Direct Consolidation Loans). You're considered full-time if you meet one of the following—. They may submit the DOE’s Employment Certification Form (ECF) to FedLoan Servicing to verify PSLF employment and qualifying payments. Get an Affordable Payment Based on Your Income. The ECF Form lets your loan servicer know that you have full-time employment as a public servant (e.g., government employee, non-profit organization employee, etc.). Service members eligible for this benefit can have their interest, costs, and fees capped at 6% during their service. 2. If repaying your loans right now isn't going to work for you, you may qualify to postpone your payments during a period of active duty service if you are: Our interactive Eligibility Quiz helps you determine if your federal student loans are eligible for a deferment or forbearance and provides the best options for postponing your payments. Box 69184 Harrisburg, PA 17106-9184. FedLoan Servicing is the servicer that manages the PSLF program. 1. If you're unsure whether you work for a qualifying organization, ask your employer. You may even be eligible for partial or total loan forgiveness depending on your circumstances. We are honored the U.S. Department of Education chose FedLoan Servicing to monitor and track each TEACH Grant recipient's progress toward fulfilling their service obligation. If you intend to teach but are currently unable to, you may qualify for a temporary suspension of the time you need to complete your service obligation, as explained in your Agreement to Serve. Form Approved Expiration Date: 8/31/2021. Use our TEACH Grant Certification FAQ to find the answers you are looking for. If your form is approved any payments made after your final 120th qualifying payment will be refunded. Consolidating can make your loans eligible as long as you meet all other program requirements. 682 0 obj <> endobj %PDF-1.7 %���� You will receive the following proportional discharge of your four-year service obligation if the call or order to active duty status is for more than three years: To request a temporary suspension of your service obligation based on your active duty status: 2A. Box 69184 Harrisburg, PA 17106-9184 Find out what specific options are available to you. Complete the required 4 years of teaching within 8 years of completing or otherwise leaving your TEACH Grant eligible program of study. Contact one of our Public Service Loan Forgiveness specialists at 855-265-4038 for more information. Continue making your monthly payments while your account is being reviewed for forgiveness. Section 4 of the PSLF form must be completed by an authorized official, and cannot be filled out by the borrower. You request that we convert the TEACH Grants you received to Direct Unsubsidized Loans because you have decided not to teach or have decided not to teach in a qualified school or field, or for any other reason. Track your progress towards the completion of your service obligation today. There are several repayment plans that are based on your income and loan debt. The first thing you should do is fill out and submit Employment Certification for PSLF form to Fedloan Servicing. 5. Therefore, payments made during the following loan statuses are not considered qualifying. If I qualify for forgiveness, only the remaining balance on my Direct Loans will be forgiven. The entire Direct Consolidation Loan may be eligible or a portion, based on disbursement dates. Section 4 of the PSLF form must be filled out by an authorized official. How will FedLoan Servicing keep track of my payments? Request the repayment plan that best meets your needs, and consider whether you may benefit from Public Service Loan Forgiveness. The academic year for which you need to suspend your service obligation, The date you began caring for the individual, The date the health condition affected your ability to work, The date you began caring for the service member. Many borrowers qualify for a $0 monthly payment! IDR plans offer loan forgiveness after you make a specific number of payments! Question: Dear Steve, I was misled by FedLoan Servicing regarding my loans under Income Based Repayment. Creating a repayment strategy is a great way to meet your repayment goals. The best way to validate if you’re on track for … You may sign in to your on-line account and send us an email to request SCRA Benefits or upload documentation for review. I will make you acquainted with the exact steps that you should follow and get your Public Service Loan Forgiveness. If you get a job at a government or eligible not-for-profit organization and repay your loans based on your income, you may qualify for forgiveness of your Direct Loans after 120 qualifying payments and employment. The employment certification form is sent to Fedloan Servicing. To qualify for PSLF, I must be employed full-time by a qualifying employer when I apply for and receive PSLF. The ICR plan is the only available IDR plan for a Direct Consolidation Loan that includes a PLUS Loan made to a parent borrower. See StudentAid.gov/publicservice for more information and for a form you can fill out when you start working to receive confirmation that your employment qualifies for the program. SECTION 8: IMPORTANT INFORMATION ABOUT PSLF. Submit the form. ? 4. If you are interested in applying for PSLF or have questions about your eligibility, submit a completed Employment Certification for PSLF Form to FedLoan Servicing, the U.S. Department of Education's servicer for the PSLF Program. FedLoan Servicing is a Servicer to Federal Student Aid. While your loans are being reviewed for loan forgiveness you have two options: View additional details of the PSLF Program at the Federal Student Aid Website. To receive loan forgiveness under PSLF, you must make 120 qualifying payments. 7. The PSLF form is a form both you and your employer must complete for us to verify that your loan payments were eligible and that you made the payments during periods of qualifying employment. You are not yet employed as a full-time teacher as described in your Agreement to Serve, but you intend to meet the terms and conditions of your service obligation. Review the programs below to see if you may qualify. If FedLoan Servicing is already your servicer, you may upload your PSLF application or Employment Certification Form on their website. Get help preparing your TEACH Grant Certification Form in your online account through Account Access with Forms Assistance. While you are serving on active duty, it may be tough to manage your account, but rest assured, you have several options. 10101, or. ... Department of Education is mistaken in its denial, you can submit additional information that supports your case, and FedLoan Servicing will reevaluate its decision. Upon submission of a completed Employment Certification for Public Service Loan Forgiveness form to FedLoan Servicing (PHEAA), the Department’s PSLF loan servicer, the borrower will be informed if the employment reported on the form meets the qualifying employment standards for PSLF. Any other repayment plan is eligible for PSLF if the monthly payment is equal to or greater than the amount you'd pay on the 10-year Standard Repayment Plan. Submit both a copy of your military orders and your military identification with your completed Suspension/Discharge Form; NOTE: Please make sure that any orders you submit include the dates of your active duty status. Check out these smart borrowing tips today. If it appears you are eligible for PSLF/TEPSLF, your employer may be contacted before granting loan forgiveness. Section 3 of the PSLF form can be completed by the borrower or an authorized official at the borrower's employer (see who is considered an authorized official in the following section). If your qualifying employment is approved, your federal student loans owned by the U.S. Department of Education will automatically be transferred to us and we will begin tracking your progress towards completing the 120 qualifying payments each time you submit a PSLF form. ^6����(��4��[�HӃ�>�'b To complete the process, you must take the PDF document that the Tool generates, sign it yourself, have your employer sign it, and then submit the form to FedLoan Servicing, the Department of Education’s PSLF servicer. Are You Deployed or Traveling for Training? Review the Employment Certification Documents section for an example of the PSLF form and completion instructions. %%EOF Once your form is received and processed, your student loans are then transferred to Fedloan Servicing. N`���U��w�g`�� �y8��P���l2���[�V�e��u�jy���L3�����|�?�lk�^�v�������t���[u����\*��� An eligible program is one that is eligible for the TEACH Grant or a program of study that has been determined by a state to satisfy the requirements for certification or licensure to teach in the state's elementary or secondary schools. If you submit an Employment Certification Form (ECF) for employment at a qualifying organization for the PSLF Program, and all of your federal loans are not already serviced by FedLoan Servicing, all of your U.S. Department of Education owned student loans will be transferred to us. By submitting this form, my student loans held by the Department will be transferred to FedLoan Servicing. 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