NotesFAQContact Us
Collection
Advanced
Search Tips
ERIC Number: ED558546
Record Type: Non-Journal
Publication Date: 2014
Pages: 14
Abstractor: ERIC
Reference Count: N/A
ISBN: N/A
ISSN: N/A
Public Service Loan Forgiveness. NASFAA Task Force Report
National Association of Student Financial Aid Administrators
The Public Service Loan Forgiveness (PSLF) program was established in 2007 to encourage student borrowers to work in the public sector. Qualifying borrowers may have their Direct Loans forgiven after 10 years of full-time service in an eligible job. Currently, qualifying employers include federal, state, or local government agencies and tax-exempt 501(c)(3) not-for-profit organizations. The guiding principles of the Public Service Loan Forgiveness Task Force included a thorough review of the forgiveness program with special attention to: (1) Promoting fairness and equity for students across all sectors of postsecondary education; (2) Promoting accountability; (3) Encouraging simplicity; (4) Providing schools with flexibility to respond to the specific needs of students; (5) Promoting the use of technology wherever possible, and (6) Supporting recommendations with research and data analysis wherever possible. Among the recommendations detailed in the report are: (1) Continue the Public Service Loan Forgiveness Program; (2) Retain the eligibility criteria to qualify for public service loan forgiveness; (3) Institute limits on the amount of forgiveness; (4) Keep public service loan forgiveness untaxed; (5) Make Public Service Loan Forgiveness Program data public (6) Strongly encourage annual submission of employment certification forms, and (7) Increase communication about public service loan forgiveness. "Borrower Profiles" is contained in the appendix. [Members of the NASFAA Public Service Loan Forgiveness Task Force include: Candi Frazier (Chair), John Ahlers, Heather Guamer, Tony Lubbers, Rebekah Melville, Patricia Scott, Tony Sozzo, Dennis Tominaga, and Virginia Tucker.]
National Association of Student Financial Aid Administrators. 1101 Connecticut Avenue NW Suite 1100, Washington, DC 20036. Tel: 202-785-0453; Fax: 202-785-1487; e-mail: membership@NASFAA.org; Web site: http://www.nasfaa.org
Publication Type: Reports - Descriptive
Education Level: N/A
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: National Association of Student Financial Aid Administrators (NASFAA)