PSLF How to Guide

Our PSLF video guide helps you Understand, Plan and Implement your PSLF strategy. In addition, the guide provides you step-by-step instructions for getting your loans forgiven. Plus, we show you how to reduce the risk of not getting them forgiven!

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PSLF Table Of Contents:

Intro To FitBUX: 0:00

Understanding Why Its Hard To Get Help: 2:42

Identifying The Risk Of PSLF: 5:27

Understanding What Plan You're On: 6:49

Risk #1 Of PSLF: 11:58

Risk #2 Of Not Having Payments Count: 14:10

Risk #3 Over Paying: 17:52

Other Risks To Know: 20:27

Setting Up A Plan To Reduce The Risk: 23:41

How To Implement Your PSLF Plan: 33:06

The Best Way To Sleep Easy At Night: 38:09

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Save By Using PSLF

Public service loan forgiveness, also known as PSLF, saves student loan borrowers $62,000 on average according to the Federal Government. However, news reports indicate that approximately 1% of those that have applied have had their loans forgiven. However, most did not use the program properly.  Therefore, the #1 reason why loans aren't being forgiven under PSLF are due to errors made by the student loan borrower.  This is why using FitBUX's video Guide, Checklist, Public Service Loan Forgiveness Solution, and other resources are extremely valuable. 

Who Can Benefit From PSLF?

If you work for a non-profit full-time then you can qualify for PSLF.  Full-time is defined by the non-profit you work for. You also need to make sure you plan on staying working at a non-profit for 10 years. This does not need to be the same non-profit.  The number one reason why we see FitBUX Member's not qualify for PSLF is the fact that they leave the non-profit sector within 2-4 years of working.  If you leave the non-profit, you are still on an income driven repayment plan and must prepare for the tax burden or switch to a student loan pay off strategy.

Who Shouldn't Use PSLF?

There are a number of reasons why you shouldn't use PSLF. Here are just a few:

  1. You don't work for a non-profit full-time: Borrowers come to us after they get denied for PSLF asking why they don't qualify. One big reason is they don't work full-time at the non-profit or they work for a contracted company.  Non full-time work for example would be something like PRN work. Contracted work may be a situation whereby you perform your job at a non-profit location but you don't work for the non-profit.
  2. Your income relative to your debt is high meaning you make a lot more than you owe. If this is your situation, you probably won't have anything forgiven after 120 payments. Be sure to discuss this with your FitBUX Coach.
  3. If you don't plan on staying at the non-profit for ten years.
  4. If you job offers two types of loan forgiveness plans you must choose one!  For example, many military jobs will offer to pay $20,000 per year to reduce your loan balance or you can choose to go onto PSLF.  You can not do both.
  5. If you plan on refinancing your Federal student loans don't use PSLF.  Private loans do not qualify for PSLF.  If you want to see if refinancing is right for you, then check out our free student loan refinancing service.

How Do I Know If I Qualify For PSLF?

Be sure to watch the video guide above and download or PSLF checklist.  Also, Fed Loan servicing is constantly making mistakes plus your life can change over the next 10 years. Be sure to sign-up for our Public Service Loan Forgiveness Solution so you can sleep easy at night.