Public Service Loan Forgiveness and TRIO Professionals
Public Service Loan Forgiveness and TRIO Professionals – What You Really Need to Know!
In 2007, Congress enacted Public Service Loan Forgiveness (PSLF) to provide public service workers with debt forgiveness after 10 years or 120 consecutive monthly payments. TRIO educators who work more than 30 hours per week are eligible for PSLF as they are employed by government (i.e., state colleges and universities and school districts) or nonprofit organizations (e.g., private, not-for-profit colleges and community-based organizations). Despite the intentions of the program, by 2021, less than 5% of eligible public service workers had received loan forgiveness.
Recently, the Department of Education announced major updates to the PSLF program to provide relief for 500,000 more TRIO educators and public service workers. Join COE and representatives from the Office of the Under Secretary for this informational webinar to learn more about steps ED is taking to:
· Allow borrowers to count all types of past federal loan payments toward the 120 required.
· Make it easier to certify eligible public service employment.
· Review denied PSLF applications to correct errors and continue the process.