The Biden administration has launched a new tool to help borrowers determine whether they may qualify for student loan forgiveness. The launch arrives just as a key loan forgiveness expansion for public service borrowers is about to expire.
Education Department Launches PSLF Employer Search Tool
Borrowers can sometimes get tripped up trying to determine whether their employer qualifies them for student loan forgiveness through PSLF. And up until now, there has been no easy way for borrowers to get quick answers. Traditionally, borrowers have had to submit to their loan servicer a formal PSLF application signed by their employer to get a formal determination. And the process can take months..
“We added a new PSLF Employer Search which allows [borrowers] to search for qualifying PSLF employers without logging in” to the. “The PSLF Employer Search provides easy-to-follow prompts and guides users through the process to determine if their employer qualifies for PSLF. Users will receive a message about next steps if their employer qualifies for PSLF, does not qualify for PSLF, or isn’t listed in the database.
Borrowers should review the PSLF program, along with the current temporary fixes, before taking drastic steps regarding their loans:
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