Works best for: Medical personnel and essential workers with Federal Family Education Loans.
The PSLF Program was plagued with problems almost from its start in 2007. Thousands of healthcare workers and other public service workers dutifully made payments for 10 years, thinking this would qualify them for student loan forgiveness, only to find out they had the wrong kind of loan — Federal Family Education Loans.
Last October, the Department of Education announced it was temporarily softening the rules to count payments that were too small, too big, and too late, and payments made toward FFEL Loans.
Over 70 thousand borrowers have had their debt forgiven under the Limited PSLF Waiver, which expires Oct. 31, 2022. But people with Parent PLUS Loans and joint spousal consolidation loans have been shut out of this temporary expansion thus far. Read more about Parent PLUS Loan forgiveness options.
How to Apply: Visit studentaid.gov to consolidate your FFEL loans into a Direct Consolidation Loan. You’ll also need to submit a completed PSLF Employment Certification form for every qualified employer you’ve worked for since Oct. 2007.