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Law Enforcement and Loan Forgiveness : Continuing Education

Started by jthai, August 29, 2016, 06:10:44 am

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jthai

I went through the threads but don't think I came across this scenario.
I'm currently employed at a law enforcement officer in NJ since 2010, but did not know about PSLF until recently.  When I called the lender, they said I would have to consolidate into a different loan in order to qualify for PSLF which would mean my 120 payments (10 years) starts at the point of consolidation. I realize PSLF is a government program, but that seems pretty unfair that any employment and loan payments I've made since 2010 would not be able to be applied towards the 120 payments.  Is there some way around this, or did I not get correct information?
Also, I'm considering going back to school to continue my education which will be beneficial to the job and upon retirement.  Unsure if the additional loans incurred can or will be included on the PSLF program.  Should I postpone applying for the PSLF until I'm completely done with school?  I intend on staying in this field until retirement, approximately 24 years from now.  Thank you.

TheCollegeInvestor

To qualify for PSLF, you need to have a direct loan, be on a qualifying repayment plan (IBR, PAYE, RePAYE), and work in public service (which law enforcement counts).  You can learn more about the steps required in our PSLF training video: https://thecollegeinvestor.com/17523/pslf-online-video-training/

As for the new loans, they can be, but it will be hard to track because you're having a second set of loans with different dates. If you manage it carefully, you can do it.