PSLF toolkit available for eligible nonprofit employers
The Providers' Council has been working with American Student Assistance to help educate and inform our members about the federal Public Service Loan Forgiveness (PSLF) program for which some of their staff may be eligible.
PSLF was created to encourage borrowers with federal education loans to enter public service work or the nonprofit sector with the promise of forgiving their eligible federal student loan balance after 10 years, as long as certain criteria are met.
Eligible employers include all 501(c)(3) and government employers and other private nonprofit organizations that participate in public service. The PSLF website includes links to information and required forms, such as the employment certification form. You can reach the site at www.asa.org/pslf.
A recent webinar presented by ASA for the Providers' Council has been archived in the Members-only section of our website for members who may have missed it .
The ASA website also includes a host of information, including a downloadable toolkit for eligible employers.
The toolkit includes information such as:
- An email template for eligible employers to give staff outlining this potential employee benefit;
- How to apply, including an eligibility checklist;
- 5 things to know about Public Service Loan Forgiveness (PSLF);
- A list of online resources including links; and
- A PSLF infographic that shows how it works, what you need to do, your repayment options and things to keep in mind.
The Council will continue to post news and resources on our website to help human service workers and employers mitigate student debt. Additionally, the Council is pursuing legislation to establish a student loan forgiveness program for eligible direct service professionals in Massachusetts. You can learn more about that here.