Qualifying for Loan Forgiveness the Easy Way: The PSLF Help Tool, Part 2

New Updates to the PSLF Help Tool to Simplify the PSLF Process

The Biden Administration continues to make progress simplifying access to loan forgiveness through improved tools, service, and updated rules. Some of the most significant strides have been in the embattled Public Service Loan Forgiveness, which is benefitting millions more borrowers than ever before. Over the years, PSLF has gotten a bad rap because of its poor success rate, in part because of the mountain of bureaucracy applicants have to scale before receiving forgiveness, but new changes to the Dept. of Ed.’s PSLF Help Tool are making things simpler than ever. 

A Lifeline for Those Struggling with Loan Forgiveness

The PSLF Help Tool hasn’t always been around; it was created in 2017 as the Department of Education strove to improve the success of PSLF more successfully help applicants get through the process. Loan forgiveness is a document-heavy business, and some of those documents had somewhat arcane, and archaic, rules. With the Help Tool under their belts, applicants had more comprehensive access to required information all in one place. It also simplifies the application process by collecting your information, then generating the needed form for you. 

Updates to the Streamlined PSLF Help Tool

Unfortunately, the PSLF Help Tool hasn’t been the silver bullet that the federal government hoped it would be, but new changes seek to make it more successful than ever. One significant change is an expanded guide page that helps you become your very own “PSLF Help Tool Ninja.” It helps you sift through the information needed for the form, explains jargon, and clarifies some of those arcane rules. Speaking of, one significant rule was recently updated to bring PSLF closer to the 21st century: you can now e-sign your PSLF application and Employer Certification Forms. The mandatory ink signature is a thing of the past! 

If all this ninja talk still makes your head spin, don’t worry! Give your student loan professional a call—they’ve mastered the subtle art of PSLF so you don’t have to.