. Both initiatives temporarily broadened the definition of “qualifying payments” to include other types of federal student loans and repayment plans, as well as some past periods of deferment and forbearance. However, these initiatives largely left intact the definition of qualifying employment.
Contractors performing services for qualifying entities may not be eligible if the contractor itself is not qualifying. “If you were hired by a government contractor and the contractor issues your Form W-2, you are employed by the contractor. In this case, although you may be doing work for a qualifying employer , you are not an employee of the qualifying employer,” according to Education Department guidance.
Similarly, employment for U.S.-based government agencies and organizations qualify for PSLF, but working for a foreign government does not. Working for an international nongovernmental organization generally does not count, either, with some narrow exceptions. “If you work for a U.S. delegation to an international, intergovernmental organization, such as the U.S. mission to the United Nations, your employment qualifies because your employer is the U.S. government,” says department guidance.
Don’t bail out criminally mismanaged banks, rather bail out students from student loans, lower skyrocketing college tuition, and support non-degree needing career industries!