What is Public Service Loan Forgiveness?
The federal Public Service Loan Forgiveness (PSLF) program was designed to encourage graduates with student loan debt to enter public service. The PSLF program can award forgiveness of federal Direct Loan student debt remaining after ten years of eligible public service and 120 loan payments (ten years of monthly payments). CUNY is an eligible public service institution, as are other public and non-profit colleges and schools.
Governor Signs Bill Making Many Adjuncts Eligible for Public Service Loan Forgiveness
PSC President James Davis and dozens of PSC members joined Governor Kathy Hochul at BMCC Thursday, September 15 to celebrate the signing of a legislation to expand access to public service loan forgiveness. The legislation, sponsored by Senator Kevin Thomas and Assembly Member Harvey Epstein, will allow many adjunct faculty who were carved out of public service loan forgiveness to now qualify. Read more.
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“Biden Waiver” to Allow Faster Public Service Loan Forgiveness Expires October 31
Adjuncts: Get Started on Loan Consolidation | Apply to CUNY
A special waiver negotiated by the AFT, our national affiliate, and the Biden administration that expands the types of eligible federal loans and broadens the periods of repayment that may count toward eligibility for public service loan forgiveness will soon expire. Waiver applications must be submitted by October 31, 2022 with documentation from employers and application for loan consolidation (consolidation need not be completed, the Department of Education–DOE–is backed up).
Now that Governor Hochul has signed the Thomas/Epstein bill adjuncts who may qualify for public service loan forgiveness should make sure their federal student loans are in process to consolidated into the Direct Loan Program and they should begin submitting their application forms to CUNY campus HR departments to document public service. We recommend adjuncts write a cover letter for your employment verification forms for CUNY HR (not DOE) that documents courses taught each semester by department and calculated hours taught to prevent HR errors.
New development: AFT lobbying efforts have resulted in DOE agreeing to timestamp employment verification forms at the time they are generated electronically at the DOE student aid site using the Federal Employer Identification Number. (CUNY’s FEIN is on your W2 and listed below this paragraph.). DOE has also agreed to accept forms not following that process after October 31 provided that they are properly signed and dated by employer by October 31.
CUNY Community College Federal Employer Identification Number
Community Colleges FEIN 13-6400434
Registered to the City of New York, 450 W. 33rd Street, 4th Floor, New York, NY 10001.
CUNY Senior College Federal Employer Identification Number
CUNY Senior Colleges FEIN 13-3893536
Registered to the City University of New York, 205 E. 42nd Street, New York, NY 10017.