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Am I Eligible For Student Loan Forgiveness

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Loan Forgiveness For Nurses

Student loan forgiveness: whats changing and who is eligible

Registered nurses, nurse practitioners and members of nursing faculty, who work in high-need population areas or areas where there is a critical shortage could qualify to have up to 85% of their loans forgiven under the NURSE Corps Loan Repayment Program.

Qualified candidates can have 60% of their student loans forgiven for working two years in an underserved area. Another 25% could be forgiven for working three years.

Some states also offer loan repayment assistance. Go to the Loan Forgiveness for Nurses website to see if yours is one of the 33 states that has one and what the eligibility requirements are.

Next Steps To Consider

If you qualify for student loan forgiveness or discharge, conducting the proper research and ensuring that you have the approved documentation on hand can help you get the forgiveness you need. The application process can vary based on the situation, so contact your loan servicer if you have any questions.

If youre still having trouble paying your student loans but dont qualify for a forgiveness program, refinancing your student loans can save you money by lowering your interest rate and consolidating multiple loans into a single monthly payment.

There Are A Few Other Things To Know To Ensure Your Pslf Payment Is Eligible

You do not need to be under the same plan for all 120 payments, but only payment made under the 10-year standard plan or an IDR will be counted.

Payments dont need to be consecutive to count. The only thing that will wipe out prior eligible payments is loan consolidation.

Payments made under a standard plan that is longer than 10 years, such as what is generally given to consolidation loans, do not count towards PSLF

Parent Plus loans are only eligible for the income contingent repayment plan and only if they are consolidated under the Direct Loan program. Parent Plus borrowers pursuing PSLF should consolidate as soon as possible and apply for ICR right away to take advantage of PSLF. Note that Parent Plus loans, even if consolidated, are not eligible for the October 6th, waivers unless they are consolidated with non-Parent PLUS loans such as Stafford or Graduate PLUS that were taken out for the parent borrowers own schooling.

It is possible to have a zero dollar payment under the income driven plans. Zero dollar payments that are due under these plans do count towards PSLF. Not being due for a payment because you are in forbearance or deferment or in school does not count towards PSLF.

Payments made on a defaulted loan do not count towards PSLF. If you rehabilitate a defaulted loan to get out of default, the payments made after loan rehabilitation will count. If you consolidate out of default they will not.

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You Work In Public Service The Government Or With A Non

Several humanitarian and public-sector jobs are eligible for loan forgiveness under the Public Service Loan Forgiveness Program. Under this program, individuals who work as full-time employees in the public service or non-profit sectors can have the balance of their outstanding debt forgiven if they meet two requirementsthe money is borrowed under the William D. Ford Federal Direct Loan program and the borrower has also already made 120 qualified loan payments.

Extending Student Loan Payment Relief

Am I Eligible for Student Loan Forgiveness?

On Inauguration Day, Biden extended the federal student loan payment relief until Sept. 30. This means that borrowers dont have to make any federal student loan payments until that date. Additionally, no new interest will accrue on federal student loans, and no federal student loans in default will be collected.

The relief was granted in March 2020 and extended first by former President Trump and then by former U.S. Education Secretary Betsy DeVos.

Until Bidens intervention, the relief had been set to expire on Jan. 31.

On March 30, Bidens Education Secretary Miguel Cardona expanded the student loan payment pause to include 1.14 million borrowers with private student loans.

It is important for student loan borrowers to know that they dont have to stop paying their loans. If borrowers wish to continue chipping away at their principal balances, they have that option.

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Private Student Loan Relief

There isnt a universally available plan to forgive private student loans only federal. So if you have private student loans, you may not be eligible for forgiveness. But even if private student loan forgiveness isnt available, refinancing your student loans might give you a lower monthly payment or lower interest rate.

A New Shortcut The Department Of Education Pslf Help Tool

When this article was first written, people like Dave had to do a bunch of research into employer eligibility for PSLF.

The Department of Education recently made employment verification much easier. Using the PSLF Help Tool, borrowers can verify employer eligibility and generate the necessary form that needs to be completed.

According to the Department of Education, the process takes about 30 minutes. Borrowers will need their FSA ID and a W-2 or Federal Employer Identification Number from their employer.

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What Is Student Loan Cancellation

Student loan cancellation typically refers only to federal loans, and its a system mandated by the government to protect borrowers in certain situations. It means youre no longer required to make your student loan repayments, and they will be removed from your credit report.

You cant have your loans canceled simply because you didnt finish school, dont like your degree, or cant find a job in your fieldbut you might be eligible if your school made some mistakes, in the case of death or disability, or if you work in a certain job sector.

Who Would Qualify For Federal Student Loan Forgiveness

Student Loan Forgiveness – NOT A SCAM! | Public Loan Forgiveness Changes

Biden wants to create a new, simple program for borrowers who dedicate their post-college careers to public service.

His proposed plan would forgive up to $50,000 of undergraduate or graduate student loan debt for eligible public service workers by relieving them of $10,000 per year for up to five years of national or community service.

Biden does not plan to replace the current Public Service Loan Forgiveness program, which is available to public school teachers, government workers, and other nonprofit employees. Instead, he wants to fix the existing program, which has denied 99 percent of applicants, by making it more accessible.

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How To Qualify For A University Of Phoenix Student Loan Discharge Forgiveness Benefit Or A Refund

After the University of Phoenix is accused of illicit activities against the federal government and the students, the victims of the school have the chance of benefiting from their student loans.

What are the main requirements to get the University of Phoenix student loan discharge through Borrower Defense to Repayment? The primary requirement to qualify for Borrower Defense to Repayment is to prove that UOP misled and defrauded you.

You should prove that the university misrepresented its academic program, did take fraudulent actions, deceived you to get the federal aid student loan. Apart from your application, you need to support your claim with additional materials to make it easy to get the student loan forgiveness.

Fortunately, there is a big possibility to qualify for the University of Phoenix student loan discharge in 2020 & 2021. Till now, Borrower Defense was difficult to achieve because the Education Department was delaying the process or approached it with hesitance.

However, Joe Biden plans to return the Borrower Defense to its glorious days and now, there is a hope that more people will qualify. If you find out that you are eligible for the Borrower Defense to Repayment Discharge, you may apply to the program and get forgiveness for your student loans. If the committee approves your application, you may even get a refund for the amount you paid previously for your student loans.

How Do You Apply For Student Loan Cancellation

If you dont qualify for a total and permanent disability , you may wonder if you will ever qualify for any student loan cancellation. For example, you may be asking: Did student loan cancellation get cancelled? It may feel that way if youre hoping for wide-scale student loan cancellation, but it hasnt happened. While the Education Department has already cancelled student loans for student loan borrowers who qualify under the borrower defense to repayment, you can still apply for student loan cancellation by completing the Application For Borrower Defense to Loan Repayment. The application is available both through the U.S. Department of Education and your student loan servicer. The application takes approximately 30 minutes to complete. You will need your Federal Student Aid ID, your school name and program of study, your enrollment dates, and any documentation to support your claim.

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Am I Eligible For Student Loan Forgiveness

Your questions, answered.

Want to know more about your options for student loan forgiveness? Contact Student Debt USA to learn more> >

Wondering whether you are eligible for student loan forgiveness? The Public Service Loan Forgiveness program could help you say goodbye to your debt.

While there are two other loan forgiveness options, Teacher Loan Forgiveness and Perkins loan cancellation, PSLF is the option that applies to the majority of teachers in the United States. Heres everything you need to know about how to qualify for loan forgiveness from the PSLF program.

**new Temporary Changes To Pslf As Of October 6 2021

Am I Eligible for Student Loan Forgiveness?

On October 6, 2021, the Department of Education announced several, significant, but temporary changes to PSLF eligibility. Below are the changes. Please watch this space over the next few weeks for further clarifications or email us through out contact page with questions. We have created an FAQ document that you can find here.

  • If you already have all Direct Loans you likely do not need to consolidate to take advantage of these changes. See the FAQ for more information
  • If you have all Direct Loans and have already submitted at least one approved employment certification form you do not need to take any actions the Department of Education will do the update automatically in the next few months
  • If you have FFEL or Perkins loans you need to consolidate prior to 10/31/22 and submit a complete PSLF form by that date to take advantage of this no exceptions.
  • Loans consolidated more than once will receive credit for all months in repayment, regardless of the number of times the loan was consolidated. See the FAQ document for examples
  • Consolidation will NOT reset the PSLF count, but only during this waiver period
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    Student Loan Forgiveness And Income Taxes

    Loan forgiveness that requires you to work in a particular occupation is tax-free, such as:

    • Public Service Loan Forgiveness
    • Teacher Loan Forgiveness
    • Other job-specific programs

    Other types of student loan debt cancellation are treated as taxable income, leading to a potential tax liability, such as:

    • Income-based repayment plan forgiveness
    • Student loan repayment assistance programs
    • Student loan discharge for disability, death, closed school, etc.

    Daves Email About Pslf Employer Eligibility

    Hi Sherpa,

    Fellow attorney hereand Im flummoxed.

    While my question might seem highly specialized, I still think it could be more broadly helpful.


    Im hoping to continue making qualifying payments for PSLF at my new job at the Tennessee Education Lottery Corporation . TEL was created by statute in Tennessee as a body, politic and corporate, and a quasi-public instrumentality, and not a state agency or department, which shall be deemed to be acting in all respects for the benefit of the people of the state through the operation of a state lottery and in the performance of other essential public functions entrusted to it. TCA 4-51-101.

    What the hell is a quasi-public instrumentality? And is it a governmental entity for the sake of PSFL?

    To attempt to answer my own questions, the only definition to the phrase quasi-public instrumentality in TN statute comes in TCA 4-39-101, which provides chapter definitions for Payment of Taxes by State Vendors and Subcontractors.

    As used in this chapter:

    State governmental entity means a state agency, department, board, or commission, or a public corporation or quasi-public instrumentality that performs essential public functions entrusted to it by the state and

    I think theres meat on the bone with questions about quasi-public instrumentalities, even if my question might be a little specific for the general audience that finds your site.

    Thanks for taking the time,


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    Student Loan Forgiveness Is Not The Same As Forbearance

    Forgiveness eliminates your debt forbearance postpones your payments. If you’re having trouble making student loan payments, you can ask your lender for forbearance. Your lender may not give you a forbearance if you don’t meet eligibility requirements, such as being unemployed or having major medical expenses.

    Interest on your loan will still accrue, and you can pay that interest during the forbearance period if you want. If you don’t pay it, the accrued interest will be added to your principal balance once your forbearance period is up. Your new monthly payment will be slightly higher as a result, and you’ll pay more interest in the long run.

    The only relationship between forbearance and forgiveness is that when you’re in forbearance, since you’re not making payments, you’re not making progress toward the payment requirements of a forgiveness program you might be participating in.

    What Are My Responsibilities

    Are you eligible for the Public Service Loan Forgiveness (PSLF) reimbursement?

    Once you have been approved for the B.C. Loan Forgiveness Program, there are things you must do to maintain eligibility:

    • One year after your program registration date , you must submit via StudentAid BC online account, mail or courier a signed letter from your employer documenting your hours of in-person service in an eligible occupation at a publicly-funded facility in British Columbia either in an eligible under served community or working with children. The letter must include the following:
      • Letterhead and name of the facility where you are employed
      • Your name, occupation and community
      • Dated within 30 days of your 12 month anniversary date
      • Signature of your employer and,
      • The number of in-person service hours provided during the 12-month period prior to the anniversary date.
    • Maintain your current mailing and email address information with StudentAid BC.

    Note: If your verified in-person hours of service is less than 400 and greater than 99 hours, your benefits under the program for that year will be prorated as indicated below.

    Total Annual Hours of In-Person Service Annual Percentage of BC Student Loan Debt Forgiveness
    0 to 99

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    If You Dont Qualify For Student Loan Forgiveness

    Many student loan borrowers may not qualify for this student loan forgiveness. . There are other ways to get student loan forgiveness, including Teacher Loan Forgiveness and through borrower defense to repayment. . There also may be options for student loan relief through state governments and local non-profits. You also may wonder whether there are other opportunities to get a lower rate or lower monthly payment. The good news is there are other strategies too to save money on your student loans and get out of debt faster. Make sure you know all the strategies so you can make the best decision for you. This is especially important as temporary student loan relief will end on January 31, 2022. Here are popular ways to pay off student loans:

    How Do I Check Which Federal Loans I Have

    If borrowers are unsure about what type of loan they have, they can request that information from their loan servicer or they can check on the federal government’s website for financial aid, according to Betsy Mayotte, president of the Institute of Student Loan Advisors.

    If you don’t know what kind of federal loans you have, you can see which loans by logging into your account on, going to the My Aid page and scrolling down to the Loan Breakdown section.

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    State Lrap Programs For Doctors And Other Health Care Professionals

    While many programs are available nationally, you might also find loan assistance from your state. There are a variety of state LRAPs across the country.

    The Massachusetts Loan Repayment Program, for instance, awards up to $50,000 to health professionals working in shortage areas. You might find other repayment assistance options in your state.

    Student Loan Cancellation: Who Qualifies

    Student loan forgiveness for public service workers: Am I ...

    Biden has enacted targeted student loan cancellation directed at specific groups of student loan borrowers. Targeted student loan cancellation is different than wide-scale student loan cancellation, the latter of which helps most or all student loan borrowers. Sen. Elizabeth Warren and Senate Majority Leader Chuck Schumer want Biden to enact wide-scale student loan cancellation of up to $50,000 of student loans. To date, however, there has been no wide-scale student loan cancellation. Biden instead has focused on student loan cancellation for two existing major constituencies of student loan borrowers. This student loan cancellation is in addition to the $60 billion of student loan cancellation that student loan borrowers will have received through student loan relief made possible under the Cares Act, the $2.2 trillion stimulus package, including the four extensions by Biden and President Donald Trump.

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    Military Student Loan Forgiveness And Assistance

    Not only does the military offer loan forgiveness for Army and Navy doctors, but it also helps armed forces members and veterans. The Army, Navy, Air Force and National Guard all offer loan repayment assistance programs.

    There are plenty of other programs for military student loan forgiveness, so make sure you know what you qualify for.

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