Making PSLF History with the Limited Waiver Opportunity

2022 has been a big year for Public Service Loan Forgiveness: since the Department of Education implemented the Limited Waiver Opportunity, more borrowers have been eligible for PSLF than ever before!

The key word, however, is limited: it’s not a permanent solution to PSLF’s low success rate—they’re still working on that—and the program will end on October 31st, 2022. That gives you less than four months to take advantage of this opportunity, and with how slowly servicers move, you don’t want to wait! 

Adding the Limited Waiver Opportunity to Your Own PSLF Story

If you have Perkins Loans or FFELs, the Limited Waiver Opportunity is just the thing for you. If you’ve worked full-time for a qualifying employer, you can get time spent paying those loans to count towards PSLF by taking some simple steps:

• Download your payment history.
• Consolidate your FFELs and/or Perkins Loans into a new Direct Consolidation Loan.
• Consider consolidating your Direct loans as well.
• Apply for an eligible repayment plan for all loans.
• Submit the PSLF Employment Certification Form (ECF) using the PSLF Help Tool, once the consolidation is processed.

It takes a full 50 days for all of these steps to process, so the clock is ticking! All must be submitted by October 31st. It’s especially important that you get a move on quickly, as the servicer transition from FedLoan to MOHELA is happening for all those pursuing PSLF.

If you need help applying, or are unsure if your loans qualify under the Limited Waiver Opportunity, we can help guide you through the process and help make sure you’re on the right track!