Ensure Your Employer Qualifies for Loan Forgiveness

We’ve received many inquiries about this New York Times article published. Here’s what you need to know.

An article in the New York Times highlighted misleading advice given to borrowers by contracted administrator, FedLoan Servicing, regarding Public Service Loan Forgiveness (PSLF). The issue focused on four people who worked for employers that were not 501c (3) or government organizations, but had previously received approved Employee Certification forms by FedLoan Servicing, suggesting they were eligible for PSLF though their employers were not qualified employers.

“In a legal filing submitted last week, the Education Department suggested that borrowers could not rely on the program’s administrator to say accurately whether they qualify for debt forgiveness. The thousands of approval letters that have been sent by the administrator, FedLoan Servicing, are not binding and can be rescinded at any time, the agency said.”

The article, and others like it, demonstrates why it is important to have experts working on behalf of your employees, ensuring the PSLF application process is done right. 

For more details about how Fiducius ensures your employees have the right information, click here.