PSLF Waiver and Student Loan Forgiveness
Mer Brown meets with Becca Craig to discuss the limited PSLF Waiver and Student Loan Forgiveness.
Key Takeaways
- Apply for the PSLF waiver by October 31st, 2022 using the PSLF Ninja tool at the Department of Education website—only 1% of applicants historically received forgiveness due to using wrong repayment plans or loan types, so this waiver fixes those technical barriers
- You may qualify for $10,000 forgiveness if your 2021 AGI was under $125,000 (single/HOH) or $250,000 (married filing jointly), plus an additional $10,000 if you ever received a Pell Grant
- Sign up for Department of Education email alerts in October to get the cancellation application link when it becomes available—you'll need to submit income verification unless you're already in an income-driven repayment plan
- Only loans originated before June 30th, 2022 qualify for forgiveness; newly taken loans do not, so don't take out new loans to try to receive relief
- Consider consulting a certified student loan planner before taking action like requesting refunds on already-paid loans, as official guidance on retroactive payments hasn't been clarified yet
PSLF Waiver and Student Loan Forgiveness: Mer Brown meets with Becca Craig to discuss the limited PSLF Waiver and Student Loan Forgiveness. For more finStream videos featuring Becca Craig, please click on this link: https://www.finstream.tv/featured/becca-craig/
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