Federal Student Loans InfoOct 16, 2022
This email has one countdowns and links to governments websites that are important for people with federal student loans.
This countdown is the time left to apply for the Limited PSLF Waiver.
If you have Direct Loans and plan to make 120 qualifying monthly payments under a qualifying repayment plan while working full-time for a qualifying employer, you may be eligible for Public Student Loan Forgiveness.
If you know you already plan to use this program to eliminate your student loan debt, this is a reminder to apply for the Limited PSLF Waiver .
The Limited PSLF Waiver allows people to get credit for payments that they may have not been able to get credit for in the past. See the chart from the studentaid.gov website below:
One-time Federal Student Loan Debt Relief
On Friday, October 15, 2022 the Beta Launch version of Federal Student Loan Debt Relief Application went live.
If you have federal students loans from the Direct Loan Program, the FFEL Program, Perkins Loan Program and defaulted loans that were disbursed on or before June 30, 2022 you are eligible for relief.
If in 2020 or 2021, you filed taxes as an individual and your adjusted gross income (AGI) was less than $125,000 or if you filed taxes jointly and your AGI was less than $250,000 then you qualify.
If you made voluntary payments during the payment pause (from March 13, 2020 through December 31, 2022) and your current loan balance is below the amount of debt relief you'll receive after you successfully apply for and receive debt relief you will automatically be refunded the amount you paid during the payment pause only up to the remaining amount of your eligible debt relief.
Apply here for the Federal Student Loan Debt Relief
*Due to this being the beta launch, you can expect the application to have periodic delays.
If you are one of my 1:1 clients, send me a Voxer message with any questions regarding these federal student loan applications.
Please make sure to share this information with others, you could be saving someone thousands of dollars!
Announcements + Reminders
- Sign-up for FREE Thought Work Group Coaching on Wednesday, October 19, 2022 right here.
- If you didn't get to attend my free October financial literacy workshop on Series I Bonds, you can watch it here for free thanks to Next Advisor.
- I'm excited to share that I was recently featured on Parents.com. Check it out here.