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Get one step closer to loan forgiveness

If you missed the deadline for the Department of Education’s (ED) Limited Waiver, you’ll have one more chance to get PSLF credit under the rules of the Limited Waiver.

Borrowers can apply for a one-time credit adjustment that temporarily waives many of the traditional rules for Public Service Loan Forgiveness. To qualify for the one-time credit adjustment, you’ll need to consolidate your
loans by the end of 2023. Adjustments will automatically be made by your loan servicer in 2024. You don’t want to miss out on this opportunity!

Here are some key things that you should know:

● Payments typically considered as “non-qualifying” can now be credited towards PSLF.
● Qualifying/eligible employment and having Direct Loans (or obtaining Direct Loans through
consolidation) is still required.
● Certain periods of forbearance and deferment will also be credited towards PSLF.
● If you have previously received forgiveness through the Teacher Loan Forgiveness program, you
cannot count those years of employment towards your PSLF credit.
● Any consolidations must be completed by the end of 2023.
● If you do not receive full forgiveness under the one-time credit adjustment, and have not yet
applied for PSLF, you must repay loans on an Income-Driven Repayment (IDR) plan
and meet the traditional PSLF requirements for qualifying repayment and employment.

As an employee of Canisius University you and your family members have access to a financial wellness benefit, brought to you by TIAA and provided by Savi, that helps you navigate the
complexities of the Public Student Loan Forgiveness (PSLF) program.

Savi provides a free assessment to help you find the best repayment plans to reduce your monthly payments and search more than 150 state and federal forgiveness programs based on your financial

For $60 per year, you can upgrade to the Essential service to let Savi administer all the program’s paperwork, E-filing, employment certifications and ongoing monitoring to put you on track and
create a path to loan forgiveness. You’ll also receive customized support from Savi’s team of experts.

To learn more about preparing for the one-time credit adjustment and PSLF, visit to register for a free webinar hosted by the student loan experts at Savi.

Submitted by: Dawn Rotterman, Benefits/HRIS Manager, Human Resources