The Department of Education released its Employment Certification for Public Service Loan Forgiveness forms: www.studentaid.ed.gov/publicservice and a Dear Borrower Letter. Please read the PSLF Fact Sheet, the Q&A and instructions very carefully before submitting your Employment Certification for PSLF.
The employment verification process is a must for all borrowers, who are enrolled, or at some point anticipate enrolling in IBR, and plan to utilize the Public Service Loan Forgiveness Program (PSLF). To read more about IBR and PSLF please go to IBRinfo.org.
To start the verification process you need to submit the employment certification forms completed and signed by your employer, either at the end of a calendar year during which you were employed by a PSLF qualifying employer, or at the end of such an employment.
The PSLF is a federal program that works in conjunction with the Income Based Repayment (IBR) option and is independent of the LRAP.
Thank you for your patience. Thus far we processed all applications up to ID no. 788.
Some Boalt graduates reported that their federal student loans were transferred from Direct Direct Loan Servicing (ACS) to another servicing provider without any notice or access information.
If that happens to you, please check the Federal Student Aid’s Help – Contact site for contact information to your new servicing provider.
Several LRAP participants contacted our office regarding the limitation of Direct Loan Servicing’s website, myedaccount.com. Along with the transition to the new website several valuable features, such as the payment history prior to October 2011, are no longer available. According to the Direct Loan Servicing School Hotline documentation for this time period can be obtained upon individual request. You must call Direct Loan Servicing at 1-800-848-0979 and ask for a Payment and Principal Balance History Log. It will take approximately 2 – 4 weeks to receive the information via postal mail.
The deadline for the LRAP cancellation application has been extended to May 31, 2012. This will provide sufficient time for LRAP participants to obtain the student loan payment history from Direct Loan Servicing in form of the Payment and Principal Balance History Log for the January through September 2011 period.
Thank you for your patience. Thus far we processed all applications up to ID no. 739.
Up-to-date we received 61 applications from 2011 graduates. That is an all time record!
Welcome 2011 graduates to the LRAP…………you are awesome!
Thank you for your patience. Thus far we processed all applications up to ID no. 712.
Thank you for your patience. Thus far we processed all applications up to ID no. 636.
Direct Loan (ACS) no longer provides automatic administrative forbearance during the review process of IBR or deferment applications unless the borrower explicitly requests forbearance.
This morning a school hotline representative further confirmed that an IBR application takes approximately 30 days.
If you are still awaiting the approval of your IBR application, please request a status update from your lender and one month forbearance if needed.
You can reach Direct Loan (ACS) at 1-800-848-0979.