ABOUT US
Our mission is to empower charity activity by creating a pathway to meaningful task-based project opportunities at social impact organizations, while helping federal student loan borrowers qualifying for the 10 year Public Service Loan Forgiveness Program launched by Congress in 2007.
In 2007 Congress launched a 10 year forgiveness program, called Public Service Loan Forgiveness Program. College Debt Services focus exclusively on qualifying everyone with federal student loans for the Program. We are a PSLF Eligibility Provider, We Guarantee Your Eligibility!
Eligibility Requirements:
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Must be current with loan payments.
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Must have Federal Student Loan.
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Enroll in one of the 3 Income Driven Repayment Plans.
College Debt Services also provides records of hours that each person works from the charity of their choice for auditing purposes. We document all of the paperwork and employment certification forms to validate activity. Keeping accurate records and giving our clients access to pull the reports is done by request.
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Official Statements on the Presidents Fiscal Year 2016 Proposed Budget is to Cap the PSLF program at $57,500. This will not affect those who are currently participating in the forgiveness program. Federal student loan borrowers that are actively in the program before the law changes will be grandfathered into the unlimited forgiveness after 10 years. There’s one reason for this: the promissory notes for the loans included details concerning PSLF.
However, anyone taking out new loans would become subject to the new limits.
If you’re looking forward to have debt forgiven on another repayment plan such as Pay As You Earn, then these changes shouldn’t affect you either.