Under the Public Service Loan Forgiveness (PSLF) Program, you might be qualified to have the remaining balance of your Direct Loans forgiven if you:
Use the PSLF Help Tool to find an employer that qualifies, learn what steps you might need to take to qualify for PSLF or Temporary Expanded Public Service Loan Forgiveness (TEPSLF), and create a PSLF form to learn more.
The Federal Family Education Loan (FFEL) Program and the Federal Perkins Loan (Perkins Loan) Program are two federal student loan programs that do not qualify for PSLF. However, if you combine them into a Direct Consolidation Loan, they might become qualified. Please be aware that if you consolidate your debt, only qualifying payments made on the new Direct Consolidation Loan will count toward the 120 payments needed to qualify for PSLF. Any loan payments you made prior to consolidating them do not count.
You can rest assured that your PSLF form will be reviewed in accordance with the limited PSLF waiver rules if you timely submitted your application to MOHELA to consolidate your FFEL Program loans and/or Perkins Loans into a Direct Consolidation Loan by October 31, 2022. These temporary modifications to the PSLF Program’s rules enable borrowers to receive credit for prior repayment periods that would not otherwise be eligible for PSLF. This opportunity ended on October 31, 2022.
Another federal student loan servicer (MOHELA Offsite) oversees servicing for the PSLF Program. Your eligible loans will be transferred from Great Lakes to the PSLF servicer if you enroll in PSLF. You can check your PSLF status and payment counts by logging into their borrower portal if your loans have already been transferred to the PSLF servicer.
Limited PSLF Waiver: What Happens After the End of the Waiver October 31, 2022
The “limited PSLF waiver” refers to the time-limited changes to Public Service Loan Forgiveness (PSLF) Program rules that allowed borrowers to receive credit for past periods of repayment that would otherwise not qualify for PSLF. This opportunity ended on October 31, 2022 and beginning November 1, 2022, we went back to the normal program requirements for both PSLF Offsite and TEPSLF Offsite . If you submitted your PSLF form to MOHELA on time, be assured your PSLF form will be evaluated under the limited PSLF waiver rules.
You may be eligible to submit a PSLF form to MOHELA after October 31, 2022, and continue to qualify for the benefits of the waiver if you met certain criteria. For more information, visit StudentAid.gov/pslfwaiver Offsite
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FAQ
Is Great Lakes part of student loan forgiveness?
However, Great Lakes provides eligible student loan borrowers with standard federal student loan forgiveness options as a federal loan servicer. It’s important to remember that in March 2022, Nelnet acquired Great Lakes and started transferring loans.
Do Great Lakes loans qualify for PSLF?
Your eligible loans will be transferred from Great Lakes to the PSLF servicer if you enroll in PSLF. You can check your PSLF status and payment counts by logging into their borrower portal if your loans have already been transferred to the PSLF servicer.
Is Great Lakes a federal or private loan?
How Great Lakes Can Help You With Your Student Loans. Great Lakes is a U. S. Department of Education federal student loan servicer. We provide assistance with repayment, consolidation, payment relief, and other aspects of student loans.
Is there a lawsuit against Great Lakes student loans?
One of the businesses involved in a class action lawsuit is Great Lakes. The lawsuit claims that Great Lakes handled CARES pandemic relief efforts improperly by giving the major credit bureaus illegally inaccurate information that harmed student loan borrowers’ credit reports.