Posted:
Friday, July 1, 2022
Hello! This is Alex Marange, your PA/PR chair.
I hope you're enjoying summer break! What else can make it better than getting your student loans forgiven? I plan on sending out bite-sized emails over the course of the summer. As long as you follow along we should get through this together. If you want to move faster I have some helpful links at the bottom otherwise feel free to take this one step at a time with me . The only caveat is all of the paperwork needs to be submitted by October 31st. After that, it will be much more difficult to do this so make sure you join in on the free money!
This is all about Public Service Loan Forgiveness. As a member of the BTA you automatically qualify, I’ve listed the other groups below just in case you know someone who can also join in.
1) Who Qualifies?
- Teachers
- People who work for the government
- People who work for non-profits
It doesn’t matter what the job title is, the only thing that matters is who employs you.
2) What are the requirements? (links provide more detail)
- Have a qualifying direct federal student loan
- Make 120 on-time payments on a qualifying repayment plan
- IF YOU HAVE NOT MET THIS YET YOU SHOULD STILL GO THROUGH THE PROCESS
- Why? The waiver is counting payments on loans that are not in the correct payment plan. Plus this process will force you to put your loans into the correct payment plan so when you do hit 120 your loans will be forgiven!!
- IF YOU HAVE NOT MET THIS YET YOU SHOULD STILL GO THROUGH THE PROCESS
- Work for a qualifying employer (Done :) )
3) What are the first steps?
- Use the PSLF help tool to determine eligibility and determine next steps.
- Start the process of consolidation (if necessary) and switching over your loans (if necessary). This will take some time so please start this ASAP if you need to.
4) Some helpful Resources: