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I'm an intern who just recently started residency. I have quite a large sum of money in educational loans and I was interested in applying for PSLF. I contacted the customer service organization and they informed me that I would have to submit an application every year that I am in residency by working with my residency coordinator so they can verify that I am working at an eligible institution. In addition when I submit the application all of my loans must be moved from Nelnet to FederalStudentAid as the servicer. I had never heard that loans only under FederalStudentAid would qualify for PSLF. Keep in mind that all of my loans are direct plus loans, stafford loans, or gradplus loans but are currently serviced via Nelnet.
I also didn't realize that I would have to submit an application every year to tabulate my years of commitment to PSLF. I was under the impression that many people would just submit one application detailing their work years at the end of the ten year period when they qualify for PSLF. Is this really not the case? If it is true that I will have to submit an application every year, when is the best time to do this? Is there a deadline every year? Let's say I do not file an application until my second year of residency, does that mean my intern year will not count towards PSLF?
Can anyone advise me further on this matter? Thank you very much!
I also didn't realize that I would have to submit an application every year to tabulate my years of commitment to PSLF. I was under the impression that many people would just submit one application detailing their work years at the end of the ten year period when they qualify for PSLF. Is this really not the case? If it is true that I will have to submit an application every year, when is the best time to do this? Is there a deadline every year? Let's say I do not file an application until my second year of residency, does that mean my intern year will not count towards PSLF?
Can anyone advise me further on this matter? Thank you very much!