PSLF Employment Question

[djtallahassee]

So learning about PLSF and how you basically have to be employed by the non profit for 10 years and making payments. Does this mean you have to be continuously employed for 10 years like year round without large gaps for X amount of hours every week? What is the minimum hours you could do per week? If so, I guess you are trading your loan for 10 years of a semi ball and chain of a consistent job with a semi limited set of employers.

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[repepk]

No, you can work at all different non-profits and have breaks as long as the total eventually is 10 years. For example, a coworker of mine worked at a university for 6 years then moved to a different non-profit and has 4 years to go. not sure what the exact number of hours per week is, but I think their wording is something like "whatever is considered full time employment at your work", for my job now that is 37.5 hours a week (versus 40).

 

[RangerBob]

Your employment can also be interrupted (ie., work at a PSLF-eligible job for 4 years, work in for-profit 3 years, then go back to another PSLF-eligible job for 6 to complete 10 eligible years).

Keep in mind it is actually more than 10 years--you have to be employed at a PSLF-eligible job both when you apply and receive the forgiveness. Ideally that means 10 years and 3 or 4 months, but I don't know how quickly those applications actually get processed