New Tool Helps Track Student Loan Forgiveness Speech-language pathologists and audiologists who are eligible for federal student loan forgiveness through the Direct Public Service Loan Forgiveness (PSLF) program can now more easily track their required payments and progress toward balance forgiveness. Established by Congress in October 2007, PSLF encourages students to enter lower-paying but critical public-sector jobs, ... ASHA News
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ASHA News  |   April 01, 2012
New Tool Helps Track Student Loan Forgiveness
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Practice Management / ASHA News
ASHA News   |   April 01, 2012
New Tool Helps Track Student Loan Forgiveness
The ASHA Leader, April 2012, Vol. 17, 4. doi:10.1044/leader.AN1.17042012.4
The ASHA Leader, April 2012, Vol. 17, 4. doi:10.1044/leader.AN1.17042012.4
Speech-language pathologists and audiologists who are eligible for federal student loan forgiveness through the Direct Public Service Loan Forgiveness (PSLF) program can now more easily track their required payments and progress toward balance forgiveness.
Established by Congress in October 2007, PSLF encourages students to enter lower-paying but critical public-sector jobs, such as in public education and public health professions. Eligible borrowers who work full time at a public service organization for at least 10 years while making 120 qualifying loan payments may cancel the remaining balance of their loans. The first PSLF borrowers will be eligible to apply for loan forgiveness in October 2017.
In January, the U.S. Department of Education posted new documents on its website to help student loan borrowers comply with PSLF requirements. The documents are the first (and only) guidance that has been issued for this program. Loan recipients can document their public service employment by completing the new employment certification form.
Those who received four types of federal student loans are eligible for PSLF:
  • Federal Direct Stafford/Ford

  • Federal Direct Unsubsidized Stafford/Ford

  • Federal Direct PLUS

  • Federal Direct Consolidation

Loans made under other federal student loan programs—including Federal Family Education loans, Federal Perkins loans, and some health professions loans—may become eligible for PSLF if they are consolidated into a Direct Consolidation Loan.
For more information, contact Neil Snyder, director of federal advocacy, at nsnyder@asha.org or 800-498-2071, ext. 5614.
Where to Turn for Student Loan Relief

ASHA members with student loan debt have a number of options for federal loan relief, including:

ASHA members who want to explore these options should have answers to the following questions available when contacting lenders to help determine eligibility for these programs:

  • Do you have a Perkins, direct, or family education loan?

  • When were your loans originated?

  • When did you begin repayment?

  • Have you consolidated your loans?

  • Have you worked full time in a high-needs setting?

  • Are you already receiving benefits through one of these programs?

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FROM THIS ISSUE
April 2012
Volume 17, Issue 4