IF YOU HAVE FEDERAL STUDENT LOANS, DO NOT IGNORE THIS
Time is running out to take advantage of the Public Service Loan Forgiveness waiver!
The U.S. Department of Education has made temporary changes to the public service loan forgiveness program that can result in the forgiveness of your remaining student loan balances.
What is PSLF and what does the waiver mean to you?
The program looks at eligible employment as far back as October 2007, no matter what payment plan you were in or whether your school was designated Title I. MTA members who are employed full time by a school or educational service agency satisfy this requirement.
PSLF forgives the remaining ballance on your Direct Loans after you have made 120 qualifying payments while working full time for a qualified employer. The PSLF waiver, which expires on October 31, 2022, allows borrowers to get credit for past payments that would otherwise not qualify for the program. This does not mean you need to have made 120 payments by that date. Even if you’re short, you can receive retroactive credit for past payments that would otherwise be ineligible.
This waiver is a game-changer for many borrowers, but time is running out to take advantage of the program. Don’t miss out on this incredible opportunity you’ve earned. Call Cambridge’s Student Loan Counseling Division now to learn exactly what you need to do.
A few facts about PSLF
- You do not need to have filed paperwork in the past. (That’s a myth that has never been true.)
- You do need to take action quickly. If you need to consolidate, that process can take 45 days to complete, after which you’d have very little time left to file the PSLF application.
- The time to act is now! Prior to the waiver, only 14,000 applications had been approved since 2017. In the last 10 months, more than 150,000 applications have been approved, with many more pending.
Call now to speak with a student loan counselor and learn your next steps
888.661.7910
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