The Public Service Loan Forgiveness (PSLF) Program provides student debt relief for those working in the public interest. The Department of Education has issued temporary changes to the program. Under the PSLF Limited Waiver, eligibility rules have been relaxed until October 31, 2022. The Consumer Financial Protection Bureau has an informative article about problems that led up to the waiver.
The Financial Literacy Group of the Church Benefits Association has published a fact sheet, and the Church Benefits Group recorded a 30 minute webinar, along with a copy of the webinar slides.
We encourage all congregational employees to review their eligibility. Ministers are eligible for relief.
As with all Federal forms, applicants are reminded to read the instructions carefully, especially those around certifying that your congregation is a 501(c)3 organization. Other applicants have warned against checking the “none of the above” when selecting your type of 501(c)3 as this selection will disqualify the application.