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Laurel Road: Why PSLF is Worth the Effort
NEW YORK, June 22, 2023 (Newswire.com) - Laurel Road: Recent data from the Federal Reserve reveals that Americans currently owe a staggering $1.7 trillion in student loan debt as of Q1 2023. For many Americans, it's understandable that this burden can feel overwhelming and could impact them for the rest of their lives.
Fortunately, there is a potential silver lining for public service workers in the form of the Public Service Loan Forgiveness (PSLF) program. Created specifically for borrowers who work for a U.S. government organization or a qualifying nonprofit, this program offers the possibility of having federal student loans forgiven after 10 years of repayment amounting to 120 qualifying payments.
However, it's important to note that not all public service workers qualify for PSLF. It's important to gain a thorough understanding of the PSLF program's requirements and eligibility criteria to determine whether it's worth the effort to pursue it.
What exactly is PSLF and who qualifies for it?
PSLF is a federal program established under the College Cost Reduction and Access Act of 2007. Its aim is to encourage graduates to pursue careers in public service by providing loan forgiveness after 10 years of service. This program specifically targets individuals working in the public sector, including the U.S. federal, state, or tribal government, or qualifying nonprofit organizations.
However, it's also worth mentioning that not all student loans qualify for PSLF.
Exploring the pros and cons of PSLF
The primary advantage of the PSLF program is that it alleviates the burden of student loan debt for borrowers who work in public service. Once they enroll in the program and meet all requirements for the 10-year duration of the repayment period, federal student loan borrowers can have a light at the end of the tunnel - their remaining student loan debt could potentially be forgiven after 120 qualifying payments. For those passionate about having a career in public service, PSLF can make their dream career financially possible.
This program may lead to lower monthly payments because borrowers must opt into an income driven repayment (IDR) plan as a prerequisite for PSLF eligibility.
However, there are a few cons of the PSLF program that are worth considering. The program application process and meeting all compliance requirements year after year can be a hassle. Completing paperwork such as the Employer Certification Form (ECF), which is recommended to be resubmitted annually - can be time-consuming, especially when you're busy working full-time in the public sector. If you have federal student loans other than Direct Loans, you will also need to take the time to contact your loan servicer and consolidate them into federal Direct Loans in order to be eligible for PSLF.
Another potential drawback is the requirement to work in public service. Working for the government or a qualifying nonprofit could mean you have a lower salary than you would if you worked for a private sector employer.
Finally, there is also the possibility of rejection. Meeting the specific requirements throughout the program term is essential.
PSLF and Individual Factors
The PSLF program can be a valuable option - even a financial lifeline - for federal student loan borrowers who want to pursue a career in public service. If that sounds like you, then pursuing PSLF is well worth the time it takes to apply and stay in compliance each year. Before applying, be sure to understand your eligibility as well as the program's pros and cons and make an informed decision. PSLF could be a critical piece of your student loan repayment strategy helping to reduce your debt burden and your daily stress - which is priceless.
About Laurel Road
Laurel Road began originating student loans in 2013 and has since helped thousands of professionals with undergraduate and postgraduate degrees consolidate and refinance more than $7 billion in federal and private school loans.
Contact Information:Carolina d'Arbelles-Valle
Senior Public Relations Specialist
[email protected]
(201) 633-2125
Original Source: Laurel Road: Why PSLF is Worth the Effort
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EcoClear Partners With the City of St. Petersburg to Minimize Pests
SARASOTA, Fla., June 22, 2023 (Newswire.com) - EcoClear Products, Inc., a leading manufacturer of safe, eco-friendly pesticides, announces an agreement with the City of St. Petersburg, Florida's Sanitation Department. The city will use EcoClear's RatX® as a city-wide rodent control solution, in order to safely resolve the common problem of rodent overpopulation without affecting people, their pets, and the local wildlife.
"The residents of St. Petersburg are living in a city that cares about its people, pets, and wildlife," Christopher Stidd, President of Ecoclear Products, said. "The city's choice to use EcoClear's effective and poison-free method of extermination sets the city and its citizens ahead of the curve."
RatX ® is an all-natural product with two active ingredients, corn gluten meal and sodium chloride, safe to use around people and pets, with no risk of secondary kill to non-target species like birds of prey or wildlife. It reduces the smell of dead rodent carcasses by up to 90% while also providing a more cost-effective solution than poisons and private extermination contractors.
"Using RatX® will save the taxpayers money, as the city no longer has to use outside services to control rodents," Stidd said. "The city is choosing a sustainable way to get rid of unwanted pests like rats and mice, while at the same time protecting the health and safety of people and non-target animals."
RatX® Pellets are effective for indoor and outdoor rat and mouse control when used as directed and are safe to use around landscaping, near livestock housing, or under buildings or garden structures.
EcoClear's rodenticides are made with ingredients that meet the Food & Drug Administration's GRAS (Generally Recognized as Safe) standard. They target only the specific, intended species, so non-target animals such as pets, wildlife, and birds are safe from harm.
For more information, please visit www.ecoclearproducts.com/pro.
About EcoClear Products
EcoClear Products, Inc. is a leading developer of specialty products, which include ecological cleaning, odor removal products, and pest control solutions. Based in Sarasota, Florida, and founded in 2013, EcoClear's mission is to develop innovative and effective products safe for people, pets, and wildlife. EcoClear has been recognized for its commitment to advancements in sustainable chemistry and efficacy. For more information, visit www.ecoclearproducts.com/pro.
Contact Information:Maria Penaloza
[email protected]
Original Source: EcoClear Partners With the City of St. Petersburg to Minimize Pests
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