UPDATES OFFER NEW OPPORTUNITIES FOR EDUCATORS, ALL WORKERS
WHAT PSLF REQUIREMENTS ARE WAVED THROUGH OCTOBER 2022?
There are new opportunities for educators and other public workers who want to take advantage of the federal Public Service Loan Forgiveness program, thanks to the Biden Administration and the work of the National Education Association. From now until October 2022, the U.S. Department of Education will be waiving two of the four PSLF requirements. The first is that qualifying payments had to be made under an income-driven repayment plan. The second is that only payments made on Direct Loans could count towards PSLF qualification.
PREVIOUS REQUIREMENTS
WAIVED CHANGES
• Repay under an IDR plan • Make 120 qualifying payments
• Past payments under any payment plan count • Past inelligible payments may count toward 120 total payments
UNCHANGED REQUIREMENTS • Employed by government, 501(c)(3) not-for-profit, or other not-for-profit organization that provides a qualifying service • Work full-time
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ARKANSAS EDUCATOR
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