This is a general reminder of interest to employees with student loans.
The Biden-Harris Administration recently made an announcement about a new student debt relief plan. To be notified when the new process has officially opened, sign up at the Department of Education site. However, please remember that a different existing loan forgiveness program has an upcoming deadline on October 31, 2022.
As a University of Illinois System employee, you may qualify for the Public Service Loan Forgiveness (PSLF) Program. PSLF is a federal program that forgives the remaining balance on your Direct Loans after you have made 120 qualifying monthly payments under a qualifying repayment plan while working full-time for a qualifying employer.
Help with Employer Certification Form
If you apply for the PSLF program, you will need assistance from your central HR office to complete the Employer Certification Form. Follow these steps:
- First, complete Section 1: Borrower Information.
- Please leave Social Security Number (SSN) blank at this step.
- Next, send to the appropriate HR office for employer certification of Sections 3 and 4. It is helpful to include your UIN in the body of the email.
- Certified forms will be returned to you by HR.
- You must submit the forms according to the federal instructions. Remember to include your SSN in Section 1 before submitting.
Attend a Webinar
The Illinois Department of Financial and Professional Regulation is hosting webinars for public education employees to learn more about PSLF, the temporary waiver, and next steps toward possible loan forgiveness. See PSLF informational webinars to register.
More Information
In 2021, the U.S. Department of Education announced a temporary period during which borrowers may receive credit for payments that previously did not qualify for PSLF or TEPSLF.
To qualify for PSLF you must:
*Under the limited PSLF waiver mentioned above, loan payments made under a different repayment plan may qualify. Learn more here.
For further information, create an account at https://studentaid.gov/ and check your eligibility for the program using the PSLF Help Tool. Please note that traffic on this site is very heavy right now, and you may need to allow several minutes for the site to load.
