In this episode, Joseph Reinke, CFA demystifies the Public Service Loan Forgiveness (PSLF) program and guides you through the essential steps to qualify. Despite many believing they don’t meet the criteria, most borrowers with Direct Loans are inherently eligible. If your loans are not Direct Loans, we discuss the nuances of loan consolidation and how it impacts your eligibility.

We delve into the intricacies of Income-Driven Repayment (IDR) plans, crucial for PSLF qualification, explaining why PSLF is not a standalone plan but a feature within these programs. Learn the importance of annually recertifying your income to avoid default solutions like forbearance—especially vital if your income changes.

Furthermore, we clarify the employment requirements: working full-time (now defined as 32 hours per week by the government) at a qualifying non-profit or government organization is a must. We'll explain why certain positions, like contractors or those employed by for-profit entities, do not qualify.

Finally, we emphasize the importance of submitting your Employment Certification Form correctly to ensure your progress toward loan forgiveness is tracked accurately.

Don’t miss this episode if you're aiming to navigate the complexities of PSLF or know someone who might benefit. Tune in to empower yourself with the knowledge to take control of your student loans effectively.

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