PSLF Tax Bomb – Form PSLF PSLF form is a form you must fill out in order to apply for the Public Service Loan Forgiveness Program. The PSLF is an initiative that allows you to have your loans forgiven in the event of 10 years’ continuous service. To be eligible for the program, you must work full-time for an eligible employer and pay 120 on-time payments.
If you’re unsure which qualifies as an employer with a qualified status, here are some suggestions that qualify:
-Your government employer
-A 501(c)(3) non-profit organization
-An un-profit or public health care institution
-An AmeriCorps or Peace Corps volunteer service
When do I need to file for PSLF Tax Bomb?
You’re eligible to file for PSLF for those who have one of the loans that qualifies and you’ve made 120 qualifying payment on the loan. You may be able file for PSLF with only 10 qualifying payments. However, you must apply before the end of the repayment period.
It is not necessary to submit a claim for PSLF prior to the start of your payment period. You will have to wait until the completion of 120 transactions before submitting your application.
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