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Public Service Loan Forgiveness Form – Complete Information

Public Service Loan Forgiveness Form

Public Service Loan Forgiveness Form – After finishing your school if you worked hard as a public servant.  You have dutifully paid the installments on your student loans every month. You can submit the Public Service Laon Forgiveness form.

What is Public Service Loan Forgiveness?

The PSLF program forgives the remaining balance on your federal direct loan after you make 120 qualifying monthly payments under the qualifying repayment plan. This scheme was launched in 2007 promises that if you pay your loans every month while working at a government/ nonprofit agency the balance of your loan after 10 years.

How to complete the PSLF form

You have worked for a public service job for more than 10 years and still, have not paid your student loan. If you are facing the same situation, you can qualify to have your federal student debt forgiven. You need to follow the simple steps mentioned below.

You need to complete the PSLF form for your current employer and submit in the employer certification form.  Provide the two pages of the application for each employer you worked with during the period of 10 years of full student loan repayment.

Public Service Loan Forgiveness Form

Public Service Loan Forgiveness Form

Fill the borrower’s information

Mention the first section with your legal name, Social security number and contact details. In case your personal details have been changed you need to look at your student loan.

Read the form and sign borrower authorizations

Keep in mind while signing this page that you agree to both let your employer release employment records to the Department of Education and receive automated voice as well as text messages over your phone.

You will find a statement that you have understood the terms and conditions of the PSFL application and certify that all information is true to the best of your knowledge.

Provide complete information about your employer

You or your employer can fill this information on the employment certification form. If you are filling out this information you must know the company’s Federal Employer Identification Number. This information can be found on your W-2 tax form.

If you are working for a non-profit, you need to know if it is registered as a tax-exempt.

Certify your application with your employer

Take your application to your employer and get it signed. Certifying ensures that the information provided by you is correct.

Get certification from all the employers

If you have worked with multiple employers you need to fill in the details with over the time you have repaid your student loan. You can submit these forms as you change your employer or all at once.

Submit the form

If your loan service is FedLoan, you are lucky. You need to log in and upload your form through FEDLoan’s website.

How the department education reviews your application?

After the successful submission of the PSLF the Department of Education informs you that it has received your application. If might ask you to submit the additional forms for verification.

The processing time of your application depends on the number of employers you work with and whether you submitted forms while working. The more employers and gaps between the payment history make longer your application to process.

Approval or denied

Department of Education informs you whether your application is approved. If it is approved it forgives all eligible loan amount. In case your application is rejected the Department of Education provides a reason for its decision.

Public Service Loan Forgiveness Form

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