In an effort to incentivize work in the public and non-profit sectors, the federal government has long offered college graduates the opportunity to have portions of their student debt canceled if they met specific eligibility criteria once they joined the workforce. The Public Service Loan Forgiveness (PSLF) program allows government employees – federal, state, and local – as well as those who work for qualifying non-profit organizations and tribal governments to benefit from loan forgiveness after they’ve served in those sectors for a designated period of time.

For a very, very limited time, a "limited PSLF waiver" is being offered to borrowers who are eligible for loan forgiveness. Under certain circumstances, all of a borrower's student loan debt may be forgiven if they qualify for this waiver opportunity. If it is at all possible that you're eligible for this form of student debt relief, drop what you're doing and apply for the waiver. If you didn’t apply by October 31, 2022, you'd need to speak with our firm about alternative forms of debt relief, as this waiver opportunity was time-barred after this date.

If you have worked in public service (federal, state, local, tribal government, or a non-profit organization) for ten years or more (even if not consecutively), you may be eligible to have all your student debt canceled.

What Is The Limited PSLF Waiver Opportunity?

For years, the PSLF program has been grossly mismanaged. As a result, individuals who entered the less-lucrative sectors of public service and non-profit work expecting that their loans would be partially or totally forgiven as a result of the PSLF program were repeatedly denied relief. Although many people technically qualified for this relief, the managers of this program made it nearly impossible for anyone to actually obtain this relief.

In acknowledgment of this mismanagement and in an effort to make what amends they could, the Biden-Harris administration initiated the PSLF limited waiver opportunity for qualified applicants. Essentially, this program allows those who have been eligible for PSLF relief in the past and those who are eligible for it now to receive credit for past periods of repayment. These periods of repayment may have been restricted from eligibility for relief at the time due to various factors but are now treated as periods of eligibility for PSLF relief purposes.

Do I Qualify For The PSLF Waiver Opportunity?

Generally speaking, those who meet or have met the PSLF program's eligibility criteria due to their employment status are generally eligible for this waiver opportunity. The eligibility criteria for the PSLF program haven't changed. What this limited-time waiver opportunity affords is the chance for applicants to "count" certain periods of repayment towards their eligibility criteria.

All too often, otherwise qualified applicants for PSLF relief have been barred from receiving that relief because they didn’t make a payment on their loans within a specific amount of time, they didn’t make payments in full, they didn’t make payments on time, or they took advantage of forbearance opportunities while remaining employed in a qualifying position.

The limited-time waiver opportunity allows applicants to “count” periods of time as qualifying repayment periods even if they missed a payment, didn’t make payments, made incomplete payments, etc. Even many forbearance periods not related to the Covid-19 pandemic counted towards PSLF eligibility criteria thanks to the limited-time waiver opportunity.

How Do I Apply For The PSLF Waiver Opportunity?

Before applying for the limited PSLF waiver, you'll likely need information related to at least one Direct Loan, and you'll need a minimum of one approved PSLF form. If you're unsure of what kind(s) of loan(s) you have, you can log into the federal student aid tool and check.

If you have a Direct Loan and you’ve previously submitted an approved PSLF form, you may need to submit an additional form, or you may simply be in a position to wait until your credit is applied. The guidance provided on the PSLF waiver page at studentaid.gov outlines when applicants who meet these criteria do and do not need to submit an additional form.

If you have a Direct Loan but have never submitted a form certifying your qualifying employment, you’ll need to double-check your employer’s eligibility for the program, and you'll need to submit an approved PSLF form by the deadline.

If you have an FFEL Program loan, Perkins loan, or one of a handful of older federal student loans that are uncommon, you'll not only need to check your employer's eligibility and submit an approved PSLF form by the deadline. You'll need to consolidate your loans into a Direct Loan as well. If you have questions about student loan consolidation, reach out immediately so that we can help you reach your goal by the filing deadline.

Now that the deadline has passed, the ordinary rules applicable to the PSLF program will go back into effect. Hopefully, the program will be managed successfully moving forward, and future applicants for relief won't experience the same struggles that past applicants have faced.

Connect With An Experienced New York Debt Relief Attorney Today For Guidance

If you have questions about eligibility and/or applying for this opportunity, contact our office now for prompt assistance. If you've missed the October 31 deadline for the waiver, don't panic. A student loan lawyer at our reputable firm can clarify additional opportunities for effective debt management and debt relief that may be available to you.

While this limited-time waiver was an excellent opportunity for many, there are other ways to obtain meaningful debt relief. To learn more, schedule a free initial case evaluation with the Law Office of Simon Goldenberg, PLLC, by calling 888-301-0584 or contacting us online. We look forward to learning about your unique student loan situation and assisting you.