As a result of the COVID-19 emergency, federal student loan borrowers may receive credit for past periods of repayment on loans that otherwise would not qualify for Public Service Loan Forgiveness (PSLF). The Board of Pensions is providing a new resource — EdAssist through PeopleJoy — to ministers to help determine if they are eligible for PSLF and, if so, to assist them in the application process.
Last fall, the U.S. Department of Education announced a change to Public Service Loan Forgiveness (PSLF) program rules for a limited time in response to the COVID-19 emergency. Now through October 31, 2022, borrowers may receive credit for past periods of repayment that would otherwise not qualify for PSLF.
To help ministers relieve the burden of educational debt and achieve greater financial well-being, the Board of Pensions is providing a new resource, EdAssist — at no cost — to ministers enrolled in the Benefits Plan of the Presbyterian Church (U.S.A.). EdAssist, offered through the educational debt reduction firm PeopleJoy, provides coaching to help ministers understand and apply for the PSLF program if they qualify.
For ministers and other staff serving PC(USA)-related organizations
Presbyterian Mission Agency’s Financial Aid for Service is offering EdAssist through PeopleJoy to ministers and any other staff serving any PC(USA)-related organization. Register for a webinar presented by PeopleJoy on Wednesday, October 12, at 1 p.m. ET to begin the coaching process. If eligible, you will be contacted by PeopleJoy with instructions for scheduling your appointment. Learn more about this student loan debt support.
A personal student loan coach will help you understand your student loans and determine eligibility for PSLF. If you are eligible, they will assist with the application process, including completing the appropriate forms and collecting and organizing required documentation. Results of your coaching session may include loan consolidation, PSLF, and income-driven repayment.
The Board of Pensions is providing EdAssist at no charge to ministers enrolled in the Benefits Plan of the PC(USA).
Complete the EdAssist Interest Form and submit it to the Board of Pensions. A PeopleJoy representative will reach out to you to start the coaching and application process.
We are here to answer any questions you may have about this new offering. Call us at 800-773-7752 (800-PRESPLAN).