News and Events

Public Service Loan Forgiveness Program

Last year, the U.S. Department of Education (ED) announced a change to the Public Service Loan Forgiveness (PSLF) program rules for a limited time as a result of the COVID-19 national emergency. Millions of non-profit and government employees have federal student loans and may now be eligible for loan forgiveness or additional credit through the Limited PSLF Waiver. The waiver will only run through October 31, 2022. That means some borrowers will need to consolidate and/or submit a PSLF form—the single application used for a review of employment certification, payment counts, and processing of forgiveness—on or before October 31, 2022, to have previously ineligible payments counted. After October 31, 2022, normal PSLF rules will apply. For more information go to https://studentaid.gov/announcements-events/pslf-limited-waiver

The NEA will be hosting national PSLF webinars on Oct. 18 from 6 to 7 p.m. Experts on the topic will help members understand all they need to know about the process and what they need to get done before deadlines hit. There will be a question and answer period, as well.   Register at https://www.nea.org/student-debt-expert-webinars

The Illinois Department of Financial and Professional Regulation has scheduled a number of PSLF debt webinars over the next three weeks. There are nine opportunities on various dates and at various times.

In addition, IDFPR will also talk about President Biden’s announcement of $10k or $20k mass loan cancellation and the steps that are needed to secure that relief. Like NEA’s webinar, there will be a question and answer session at the end.  The registration grant is https://www.eventbrite.com/e/public-service-loan-forgiveness-for-teachers-tickets-403700247307?fbclid=IwAR1GyWEnUnLW37WmxcvN0rs2isXo7xGi9fu3oxqn_F_JN4sMvmR0IVyburQ