Qualifying PSLF Payments On My Direct Loans – A PSLF form is a form which you have to fill out in order to get the Public Service Grant Forgiveness program. The PSLF is an initiative that allows you to have your loans forgiven following 10 years’ service. In order to be eligible this program, you must work full-time for a qualified employer and pay 120 on-time payments.
If you’re not certain about what is an employer that is qualified, there are a few things that can be considered qualifying:
-Your government employer
-A 501(c)(3) non-profit organization
A public health or non-profit health care organization
-An AmeriCorps or Peace Corps volunteer service
When do I have to file for Qualifying PSLF Payments On My Direct Loans?
You can qualify for PSLF If you hold the qualifying loan and can make 120 qualifying monthly payments on that loan. You may be eligible to file for PSLF by making just 10 qualifying payments, however the application must be filed in the initial 10 years following your repayment period.
There is no requirement to be a candidate for PSLF from the very beginning of your repayment period. You will have to wait until the completion of 120 payments prior to filing for it.
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