As millions await student debt forgiveness, a separate program for public servants has expanded eligibility. But that ends soon.

One-time federal student loan forgiveness has garnered a lot of attention in recent weeks. But a separate debt forgiveness program for people in public service has also temporarily expanded. And the deadline to apply is rapidly approaching.

What’s PSLF?

People who work for the government or certain nonprofits can qualify for something called Public Service Loan Forgiveness (PSLF). Participants may work as teachers, first responders or social workers, for example.

Usually, PSLF erases the remaining balance on federal Direct Loans for folks who made 120 payments in full and on time. But this limited waiver allows people to get credit for payments on loans that wouldn’t usually qualify.

Who the limited waiver affects

That means people who made late payments or came up short some months could get closer to that debt forgiveness finish line. And it’s a big deal for people with Federal Family Education Loans (FFEL), which usually don’t qualify for the program.

Kristen Ahlenius is director of education at financial counseling service Your Money Line. She says borrowers with these kinds of loans were previously allowed to consolidate them into federal Direct Loans. “But when the borrower did that, they weren’t able to get credit for payments made on the wrong loan type.”

Ahlenius says in some cases, borrowers paid for years on loans they thought were counting toward forgiveness, only to realize they had to consolidate and start over. This waiver allows FFEL and Perkins borrowers to consolidate now and get back credit for those payments.

How to get in on the benefits

Ahlenius says even people who aren’t sure they’re eligible should check it out.

“Go to studentaid.gov/pslf and work through the Help Tool. Know your reality before making a decision.”

There, you can figure out whether your employer qualifies you for the program and fill out a PSLF form. There’s also a robust FAQ section on the website.

Processing the forms is expected to take weeks. But according to the Federal Student Aid website, “As long as you use the PSLF Help Tool on or before Oct. 31, 2022, and a review is pending, you will receive the benefits of the limited PSLF waiver if ED determines the employer is eligible.”

After Oct. 31, PSLF will revert back to its regular rules.