What is the PSLF Snowball? [Rebroadcast]

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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