Do contracted positions count towards Public Service Loan Forgiveness?

[Leonardsean]

I'm just graduating from Family Medicine Residency and am looking to take a first job, and am considering opportunities locally.

I have been making qualifying payments for PSLF during at least 2 of my 3 years of residency and wish to continue doing so...

One of the opportunities is through a state hospital in the area, which in and of itself would qualify for PSLF, but they only want to hire me as an independent contractor, therefore I would be responsible for my own benefits, etc. It is, however a full time position.

My question is: would my loan payments still qualify?

--Sean

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[TMP-SMX]

Regarding independent contracting it depends if the hiring group and who pays you being eligible as government or 501(c)(3). See this link. If they contract with a for profit group to pay you it won't work. I would be absolutely sure it would qualify based on more information from your employer as well as your servicer. As we saw from the attorneys that attempted to get their not for profit (but not 501(c)(3)) loans forgiven they were denied. Are there no 501(c)(3) local physician groups? Dealing with your own benefits sounds like a raw deal depending on the payment terms.

 

[Leonardsean]

They offer benefits and malpractice available for $1/ hour worked, I'll learn more when the CEO gets back from vacation and I have an actual interview.

--Sean