Using PSLF? Is it too late as a PGY3?

[shahseh22]

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Hey all,

So I hear they are possibly going to cap this program soon. I have $200k in Debt and I am currently in REPAYE. I did my intern year in a different program that was non-profit. I am also currently in a non-profit institution (currently a PGY-3 Psych resident). Is there any point in applying? I was reluctant to do so from the get go as I did not want to be restricted as to where I could practice after residency. However, looks like I might be enticed to go to a lower paying area especially if I can get my loans taken care of.

I was always under the impression I could "back track" and use my 4-5 years of training if I wished.

Thanks

 

[toastee]

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[shahseh22]

I was under the impression that you need to make 120 payments via PAYE, REPAYE or IBR program to qualify. Thus, I can always ask my employer or previous employers to fill out the form should I need it. Is that not the case?

 

[maxxor]

I was under the impression that you need to make 120 payments via PAYE, REPAYE or IBR program to qualify. Thus, I can always ask my employer or previous employers to fill out the form should I need it. Is that not the case?

PSLF isn't something you are bound to. It's something that you apply to after the fact.

1. You must make 120 payments using an
2. Income Driven Repayment (PAYE, REPAYE, IBR)
3. While employed at a nonprofit 501c3 corporation.

You are advised to fill out the annual certification forms from your employers so the loan servicers can track your progress. If you are not currently with MyFedLoan (or perhaps NelNet), your loans will be transferred to one of those two as they are the official PSLF servicers.

There is no reason not to preliminarily file the documentation. It does not restrict your future job prospects other than those that are self-imposed.