0
0
Official websites use .mil
Secure .mil websites use HTTPS
By Keisha Reynolds, MyCG Writer
The Department of Education (DOE) recently announced limited-time waivers for direct federal loans for full time civilians as part of their Public Service Loan Forgiveness (PSLF) Program; applications must be received by Oct. 31.
The PSLF Program forgives the remaining balance on direct loans for full time civilian employees who have made 120 of qualifying monthly payments (e.g., 10 years) under a qualifying repayment plan while working full time for the Coast Guard or another federal agency or U.S. military service. Under the waiver, the kinds of payments borrowers can now receive credit for, has expanded:
In addition, up until the application deadline, loans that wouldn’t usually qualify for the PSLF, now do as long as the borrowers consolidate them into direct ones. Specifically, non-direct loans that may now qualify as consolidated ones include: (e.g. Federal Family Education Loans (FFEL), Federal Perkins Loans, Federally Insured Student Loans (FISL) and National Defense Student Loans (NDSL).
“My understanding is that they [the Department of Education] is encouraging people who may have been denied in the past to reapply because their loan didn’t meet the criteria at that time but may now because of the new criteria in place,” said Sunnie Robinson, a Human Resources specialist within the Office of Civilian Workforce Management.
Robinson also shared that the Coast Guard’s human resources’ role is limited. “As a government HR office, we were asked to help spread the word about this benefit to the workforce,” she said. “Employees who believe they qualify should complete sections one and two of the PSLF certification form and submit it to their servicing CG-123 HR specialist, who will complete sections three and four, and return the form to the employee to submit to DOE,” Robinson further explained, “We have no role in deciding which applications are approved as this is a DOE Program.”
To take advantage of the waiver, here are the steps to follow by Oct. 31:
Civilians wanting more information on the program can visit www.Studentaid.gov, or, call 1-855-265-4038 for additional questions about the loan program. Also, information on the temporary changes to the program are explained in ANCHR 22-33.
source
