/ Student Debt E-book
The 2018 Consolidated Appropriations Act provided a $350 million cancellation fund to help borrowers who have met all the requirements for PSLF but made some or all of their payments under a non-qualifying repayment plan. The Department of Education is referring to this reconsideration as Temporary Expanded Public Service Loan Forgiveness (TEPSLF). TEPSLF is temporary and must be provided on a first come, first served basis. Once all of the funds are used, the TEPSLF opportunity will end.
To qualify for loan forgiveness under the TEPSLF opportunity, you must have:
- Only been ineligible for PSLF because some or all of your payments were not made under a qualifying repayment plan for PSLF;
- Had at least 10 years of full-time employment certified by a qualifying employer;
- Met the TEPSLF requirement for the amount you paid 12 months prior to applying for TEPSLF and the last payment you made before applying for TEPSLF to be at least as much as you would have paid under an income-driven repayment plan; and
- Made 120 qualifying payments under the new requirements for TEPSLF while working full-time for your qualifying employer or employers.
Only Direct Loans—one type of federal student loan—are eligible for the TEPSLF opportunity. However, neither defaulted Direct Loans nor Direct PLUS Loans made to you as a parent borrower are eligible for forgiveness under TEPSLF.
Borrowers who have only Federal Family Education Loan (FFEL) Program, Federal Perkins Loan (Perkins Loan) Program, nonfederal, and/or private loans are not eligible for the TEPSLF opportunity.