Jun 8, 2021
Only a small number of people were approved for PSLF in the first year of eligibility; I expect the 1% acceptance rate for PSLF is the lowest we will ever see and we should look forward to an increase each year.
The media has put out quite a few clickbait headlines on PSLF while sharing plenty of inaccurate information. PSLF became a major story in 2018, but I feel despite the backlash that the program is here to stay.
Today on the Student Loan Planner® podcast, we will be discussing Public Service Loan Forgiveness (PSLF) and how the approval rate will snowball to a larger percentage in future years.
In today’s episode, you’ll find out:
- The truth about the high rejection rate for PSLF
- Whether there is a massive number of PSLF borrowers coming in the future
- Why many physicians aren’t eligible for PSLF anymore
- PSLF structural flaws that can get ironed out over time
- Why people were mainly rejected based on these 4 factors:
1. Had loans that didn’t qualify
2. Used the wrong repayment plan
3. Failed to include their employer’s EIN tax number
4. Failed to check a box on the form saying they were currently
employed by a non-profit
For more information, visit the show notes at https://www.studentloanplanner.com/podcast-what-is-pslf-snowball
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