In case you missed it:
Public Service Loan Forgiveness Program Waiver
With so many Obies improving the world through their work in the public sector, many Oberlin alumni may reduce the costs of their student loans by participating in the Public Service Loan Forgiveness Program (PSLF Program). Available through October 31, 2022, A temporary waiver established for the program may provide additional benefits and increase availability of the loan forgiveness program for some alumni.
Essentially, the PSLF Program creates an opportunity for remaining loan balances on eligible student loans to be forgiven for borrowers who have made 120 payments under an eligible repayment plan, on eligible loans, while working full time for an eligible employer.
The Department of Education is currently offering a temporary Limited PSLF Waiver that allows previously ineligible loan payments to count toward the requirements in the PSLF Program. This could be a significant benefit for some borrowers.
Oberlin is not able to offer advice on this program nor determine the eligibility of any particular borrower; however, the U.S. Department of Education has a comprehensive set of resources that provide guidance.
Importantly, the waiver is currently set to expire on October 31, 2022.
For more information, see:
- Federal Student Aid Announcement
- Information from The Institute of Student Loan Advisors Corporation (TISLA)
This notice is intended to be informational only and is explicitly not advice.