We thought we’d give a quick update on the state of Public Service Loan Forgiveness (PSLF). So much has changed over the last few years; it’s worth going through a quick timeline.
Biden’s New Student Debt Plan Proposal and How it Could Affect Doctors
In mid-April 2024, the Biden administration announced some potential relief for student loan borrowers.
It’s important to note this is potential relief. Nothing is finalized yet. Just like the previous announcement of forgiving $10,000 student loan balances, the latest relief may also get jammed up in the courts.
Here is the short version of the potential relief announced that may impact doctors:
PSLF Update 2024: Payment Count Adjustments for Doctors
One of the most popular financial questions we get from doctors is “How do I receive Public Service Loan Forgiveness (PSLF) in the quickest and cheapest way possible?”. Although there’s no way to bypass the requirement of 10 working years at a 501c3/not-for-profit, the federal government has opened some new avenues to count previously missed opportunities for qualification.