Act Now to Take Advantage of Public Service Loan Forgiveness Waiver
Full-time UW‒Madison employees with federal student loans may be able to take advantage of a limited time waiver available under the Public Service Loan Forgiveness (PSLF) program. The PSLF program forgives the remaining balance tax-free on Direct Loans after 120 qualifying monthly payments have been made under a qualifying repayment plan while working full-time for a qualifying employer such as UW‒Madison. Private loans do not qualify for PSLF. The limited time waiver, currently set to expire on October 31, 2022, allows borrowers to receive credit for past periods of repayment that would otherwise not qualify for PSLF. Borrowers may benefit from consolidating other federal student loans into a single Direct Loan by the October 31 deadline. Details, links, tools, a video overview, and other resources are available from the UW‒Madison Office of Student Financial Aid at financialaid.wisc.edu/pslf. One-on-one help is available from the Wisconsin Student Debt Hotline at 833-589-0750.