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PDF Editor FAQ

Will federal contractors ever be eligible for the Public Service Loan Forgiveness (PSLF) program?

No, because they are not employed directly by a government entity. They are employed by a for-profit company that contracts with the government.

Can you get your federal student loans waived if you join a public service program like peacecorps or Americorps?

Can you get your federal student loans waived if you join a public service program like Peace corps or Americorps?Yes. Service in the Peace Corps and Americorps provides a couple of ways for Student Loan Forgiveness:Peace Corps Loan Forgiveness Program - available for Perkins Loans15% loan cancellation benefit for completing each of two years service20% loan cancellation for completing each of third and fourth year service.Public Service Loan Forgiveness (PSLF).Loans received under the William D. Ford Federal Direct Loan Program are eligible.Other Federal Student Loans my become eligible for PSLF if consolidated into a Direct Consolidation Loan.Public Student Loan Forgiveness generally requires 120 qualifying payments (10 years) on a student loan while employed full time for certain types of qualified public service.Peace Corps: FAQ on Peace Corps and Repayment of Federal Student LoansAmericorps: Information on the Loan Forgiveness ProgramInformation on the Segal AmeriCorps Education AwardThanks for the A2A

If the Public Service Loan Forgiveness program is eliminated will it affect those currently making payments with the program?

Generally, existing borrowers are grandfathered in when Congress makes changes to federal student aid programs. So, if Congress were to repeal the Public Service Loan Forgiveness (PSLF) program, the repeal might apply only to “new borrowers” as of a particular date. A new borrower is a borrower who does not have any loans made prior to that date (including any loans that were subsequently included in a consolidation loan).After all, borrowers since October 1, 2007 (the start date for PSLF) may have relied on the existence of the PSLF program.Still, Mr. Trump seems to be breaking all sorts of precedents, so there are no guarantees.

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