BREAKING NEWS UPDATE: As of July 2022, I received a letter via mail stating my student loans are forgiven and I am free from student loan debt! Hallelujah.
One day in college, my journalism professor began his lecture with news of the hottest scandal on campus occurring and asked for any interview takers. He warned that multiple people reached out to grab an interview with the offender, but all came up empty-handed.
While others looked perplexed and found the story unreachable, I immediately raised my hand and said, “I’ll do it!” My professor looked at me in amazement as I confidently assured him that I was not backing down from this assignment. Therefore, I shocked them when I reported that the offender agreed to an interview and the rest is history. I helped open the door to provide the information we all needed to get the job done.
As we fast forward to the fact that I am still paying the debt I gathered to obtain my Journalism degree, plus a Master’s in another field to go along with it, an opportunity arose for me to speak up once more and get into some “Good Trouble.”
Student Loan Debt in America has crippled many graduates and former students from living their best lives in the financial realm. Although loan forgiveness programs are available to specifically assist public service workers and teachers, this initiative is marred with loopholes that make it nearly impossible to qualify.
How do I know this to be true? Well, after graduation, I decided to work in the public sector realm with the hope of having my student loans dismissed. But, unfortunately, after meeting all of the qualifications and handing in my paperwork for completion, I was told by my loan servicer that I no longer qualified for forgiveness due to loan consolidation. I was completely floored at this discovery and utterly disgusted.
So when President Biden listed student loan debt as one of his campaign initiatives during his presidential run, I decided to reach out and help open another door of change for myself and others to see this fruition become a reality.
In March 2021, I wrote President Biden’s Administration and explained my frustration and anguish with the loan forgiveness program, and requested a deeper look into changes that needed to occur. Afterward, I received an automatic reply that my letter was accepted and appreciated.
In September 2021 President Joe Biden responded to my letter stating, “I will keep your letter in mind as my Administration works to ease the overwhelming debt of student loans… ”
Then, on October 6, 2021, the White House delivered a press release explaining that the Public Service Loan Forgiveness (PSLF) program will be going through a significant overhaul to right the wrongs given. It was at that moment a feeling of vindication ran through me. Is this a coincidence? I think not. Once again, I’m using my voice to open the door for others to get the information and help we all need.
Here’s what we know thus far about the revamped PSLF program and how it will benefit those with student loan debt.
Deadline October 31, 2022
If you are currently or have ever worked in the public sector as a teacher, nurse, military, nonprofit, employed by a U.S., Federal, State, local, or tribal government and denied the ability to receive student loan forgiveness, all hope is not lost. The Department of Education has a limited-time PSLF waiver that will run until October 31, 2022, to recount all past ineligible payments to determine if you’ve met the goal of reaching 120 payments for full forgiveness. Read more about fulfilling the requirements by this deadline.
Handwritten Signatures Only
When you’re completing your paperwork, an unwritten rule is to use handwritten signatures only. Digital signatures are not allowed. According to the PSLF website, “We can’t accept signatures that are font-based, regardless of whether they are made to mimic a signature through the use of a cursive-style font; digital certificate-based signatures; and digital signature services that don’t require you to draw your signature with your hand or pointing device.” This widely unread but significant detail will help prevent your paperwork from being returned.
The PSLF Form
If your student loans are not housed under the Fed Loan Servicing umbrella, you must print the online PSLF document, fill it out, and return it to the Fed Loan Servicing department. Although the document is available, it’s pretty tricky to locate. Nevertheless, if you need to get your public service employment certified, reach out to the Human Resources department of the said employer to request, “To whom and where do I send my Public Service Loan Forgiveness paperwork?” The fastest method, I’m told, is to fax your completed document(s) to the Fed Loan number listed on the PSLF form. However, it may take 60-90 days for an approval response once received. And please note, if you contact the Fed Loan number, the wait time is at least one hour or more. Patience is key.
The Secretary of Education, Miguel Cardona, just announced that as of December 17, 2021 at least 38,000 borrowers have been identified to receive $2.4b in loan forgiveness from the PSLF waiver.
