Although Scott’s parents were able to contribute to his undergraduate degree, his law and master’s degrees were totally funded with student loans. As the debt amounts rose, the stress of paying it back weighed heavily on his mind and led him to researching PSLF. Read More...
Although Scott’s parents were able to contribute to his undergraduate degree, his law and master’s degrees were totally funded with student loans. As the debt amounts rose, the stress of paying it back weighed heavily on his mind and led him to researching PSLF. Given Scott’s librarian career path, he was aware of his PSLF eligibility if he followed all the rules. But he had reservations about whether it would work out the way it was promised at the end of his 120 payments. Scott said, “I accumulated a lot of debt, but I acquired it in the most fiscally responsible way I could by attending state schools and living frugally. I did research on the PSLF program and applied. But I had reservations about whether or not things would actually work out in the end.” In December 2021, Scott submitted his annual program recertification and thought he had a few payments left to fulfill the program. On Jan.12, 2022, he received a letter telling him that a recalculation affirmed he had met the PSLF qualifications and his balance of $132,000 in loans was forgiven. Scott said, “It’s obviously a great thing! My life and net worth are undeniably better than if my debt had not been forgiven. I'm glad that my loans were forgiven, and part of me still can't believe it.” ...Read Less