School and district leadership should help ensure their employees are aware of the upcoming deadline to file a waiver related to the Public Service Loan Forgiveness (PSLF) program.
The PSLF program allows borrowers to have their remaining student loan debt forgiven after 10 years (120 months) of repayment while employed at public institutions, such as school districts and some nonprofit organizations.
The waiver, set to expire on October 31, provides flexibility for borrowers to receive credit for past payments that would not have otherwise qualified due to type of loan, category of repayment plan, or employment verification.
To ensure employees are aware and have the tools needed to file the waiver, district leadership should consider:
- Sending weekly communications publicizing the waiver and the October 31 deadline.
- Using the template created by The School Superintendents Association to communicate details.
- Ensuring HR is prepared to complete the verification process in a timely manner.
For more information on the PSLF wavier, visit the Federal Student Aid website. Also available is a Limited PSLF Waiver: Toolkit for Educators created by the U.S. Department of Education. Additional resources and information can be found in the EdWeek article How District Leaders Can Make Sure Teachers Don’t Miss the Loan Forgiveness Deadline.
Sarah James is the communications specialist at TASB HR Services. Send Sarah an email at sarah.james@tasb.org.
Stay up to date with all the latest HR news and trends by joining the HRX mailing list!
Tagged: HR