UPDATE: Public Service Loan Forgiveness (PSLF) Program
The U.S. Department of Education has approved a temporary waiver to the Public Service Loan Forgiveness (PSLF) Program that may help you meet the requirements of the PSLF Program. The following information provides an overview of PSLF and what actions need to be taken by Oct. 31, 2022, if you would like to take advantage of the temporary rule change.
This Oct. 31, 2022, deadline is not related to the announcement on August 24, 2022, from President Biden, which will forgive portions of student loan debt for many. The PSLF program is a separate program available only to those working at a public employer, such as the University of Washington.
What’s the PSLF program?
If you’re a full-time University of Washington employee with eligible student loan debt, you may be eligible to enroll in the federal PSLF program which will forgive your remaining student loans if you make 120 qualifying payments and work at least 10 years for a public employer.
What is the temporary change?
You may be able to get credit for your past payments that didn’t initially qualify. Under this temporary waiver, your payments on non-direct loans (e.g., Federal Family Education Loans, Perkins, other non-direct federal loans) may count toward the 120 qualifying loan payments that you need for loan forgiveness. It could count even if your payment was late, was less than the amount due, or if you were in the wrong payment plan at the time. You can get credit for these payments until Oct. 31, 2022.
Who can take advantage of this waiver?
You must have worked full-time for a qualifying public employer when prior payments were made. If you were employed in more than one qualifying part-time job at the same time, you will be considered full-time if you worked a combined average of at least 30 hours per week. Since the PSLF program began October 1, 2007, you can only receive credit for payments made after the PSLF program was in effect.
What if I haven’t consolidated my loans before?
If you have FFEL, Perkins, or other non-direct federal loans, you first need to consolidate them to take advantage of this waiver before Oct. 31, 2022. You can apply on the Student Aid site to do this or consolidate them by calling your student loan servicer. It could take a few months to get your loans consolidated once you’ve applied so we recommend you start the process as soon as possible.
How do I enroll in the PSLF program and this waiver?
UW Employees have two options for participating in the PSLF program:
OPTION 1: UW employees can utilize Savi to process their PSLF application and complete the annual verifications for an annual fee. Savi will complete all required forms and employment verifications on your behalf.
OPTION 2: You can manage the process on your own by completing the required forms annually and requesting that the Integrated Service Center (ISC) verify your UW employment for continued eligibility in the PSLF program.
- Visit the UW PSLF website to learn more about enrolling in the PSLF as a UW employee.
- Use the PSLF Help Tool to search for a qualifying employer and learn what actions you need to take to be eligible for loan forgiveness.
- Contact your student loan servicer, or visit the U.S. Department of Education’s website.
- Visit the Washington State Student Loan Advocate’s website to ask a question or submit a complaint about your student loans.
Please note that while UW is a qualifying employer for PSLF purposes and offers Savi as a resource to its employees, UW cannot enroll employees in PSLF or manage the PSLF process on behalf of employees. Eligibility and management of an individual employee’s PSLF process is the responsibility of the employee. To take advantage of this temporary program, you may need to take action by Oct. 31, 2022.