Fedloan Servicing

MyFedLoan forgiveness

MyFedLoan is the only service provider dealing with Public Service Loans (PSLF). If you apply under this program, you will automatically switch to FedLoan and subsequently being able to access MyFedLoan forgiveness.

There are three requirements for accessing loan forgiveness to the public administration, which you will see below:

Three Eligibility Requirements for Myfedloan forgiveness

Basic Steps to Public Service Loan Forgiveness

  • If necessary, to make FFEL loans eligible or you want to begin repayment early for MyFedLoan forgiveness program  (no Grace Period & interest capitalization occurs a few months earlier), consolidate FFEL, LDS and Perkins loans into a Federal Direct  Consolidation Loan at studentaid.gov. (Consolidating can make some non-eligible loans, eligible under PSLF.)

Please discuss with Financial Aid, if you have a LDS loan, before you Consolidate

  • Submit an “Employment Certification Form” (ECF). Download it below.
Upon completion of all requirements, Apply with MyFedLoan Servicing, for the actual forgiveness. Remain in eligible work and continue in your qualifying repayment plan until the PSLF application you submitted is approved and notification and instructions are received. If your loans are approved for forgiveness, you will be refunded any over payments you made after the 120 required.
Myfedloan Forgiveness

Public Service Loan Forgiveness

  • Send the form to FedLoan Servicing, the loan service provider designated by the Department of Education for the FSLP program.

  • MyFedLoan Servicing will determine if you have qualified credit and your occupational qualifications.

  • If you have qualified credit and employment opportunities, all credits held by the Department of Education will be transferred to FedLoan Servicing.

  • If your credit has been transferred, you will be notified.

  • FedLoan Servicing will tell you how many payments you made and how much you still need to pay to qualify for FSLP.

  • You will then need to continue filing employment certification forms to get a final statement of appropriate payments. Since it must match the period of employment, it is not possible to track payments in real time.

If you believe that your Certificate of Employment forms were misfiled or that the appropriate payment account was incorrect, please contact MyFedLoan Servicing or the Department of Education Student Loan Manager.

After submitting your PSLF (Employment Certification Form)

  • Check for your “Employment Certified For PSLF” document in MyFedLoan  Servicing- Paperless Inbox. This should arrive within a month after you submit the form
  • FedLoan Servicing Approval indicates the employer is a qualifying employer for the PSLF program 

Dept. of Education does have final approval at the time of PLSF application for forgiveness
 

  • Download and save for your records
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Importance of Tracking your eligible Payments

  • Check for your PSLF Qualifying Payment Update document in MyedLoan Servicing Paperless Inbox

This notification will be sent to you via the Paperless Inbox, each time you submit an “Employment Certification Form”. After the employment dates are completed, it will indicate how many Qualifying Payments you have.(you should submit one every year) 

  • Download and save for your records
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Exported Payment History: What it looks like:

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ÂżHow do I track my PSLF payments?

Here’s how you can track your payments using the Employment Certification Form:

  •  Fill out the form (Public service loan forgiveness (PSLF) & temporaly expanded PSLF (TEPSLF) certification & application) and receive a certificate from your employer. Download it below:
Myfedloan Forgiveness

Public Service Loan Forgiveness

  • Request a qualifying repayment plan for your eligible loans.

  • Sign up for automatic “Direct Debit” for repayment

  • Make 120 qualifying payments while completing eligible work

  • Go to the MyFedLoan Servicing website Frequently.

  • Track “Employment Certified for PSLF” and “PSLF Qualifying Payment Update” in the MyFedLoan Servicing Paperless Inbox. (Each time you submit an “Employment Certification Form” updates are available).

  • If something does not look correct, contact FedLoan Servicing, as soon as possible, to resolve

  • Upon completion of all requirements, Apply with MyFedLoan Servicing, for the actual forgiveness.

120 Payments late: Apply for PSLF and MyFedLoan forgiveness

You will apply for loan forgiveness after making the required 120 qualifying payments, now you must follow these steps:

  • Log in to myfedloan.org
  • Click on Manage Repayment
  • Continue clicking on Loan Forgiveness
  • Click Request Loan Forgiveness
  • Continue to make payments and work in the qualifying work until your loans are forgiven-any over paid funds will be refunded
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Deepening the MyFedLoan forgiveness program

Some borrowers have had problems transitioning to MyFedLoan after applying for FSLP. These problems include the following
  • Be aware that years of their payments do not count as eligible FSLP payments.
  • Loss of payment history.
  • Delay in processing applications for income-tested repayment plans.
  • Documents for the borrower's inclusion in the plan are not accepted.
This neglect results in borrowers borrowing more money. When application processing is delayed, MyFedLoan tends to make the borrower patient. This will lead to increased interest and delays in repayment. Some borrowers have been unable to find a solution. Unfortunately, if you want to apply for FSLP, you have no choice but to stick with MyFedLoan.

We offer solutions

Don’t let that make you hesitate. You should be rewarded for your public service. To minimize these problems, we recommend doing the following:

  • Make sure you understand the FSLP program rules and determine if you qualify. If you don’t fully understand them and apply to FSLP by mistake, MyFedLoan can do a lot.
  • Get an income-based repayment plan as soon as possible. You must first enroll in the FSLP program.
  • Payments made before enrollment are not considered eligible under the FSLP.
  • Keep a record of every FSLP payment you make. That way, if MyFedLoan “loses” the ticket office, you will have proof of it.
  • Get an annual FSLP audit, including all written documentation from your employer.
  • Record every communication with MyFedLoan, including the contact person.
  • If your sales representative has a problem, insist on talking to your manager.