What is Public Service Loan Forgiveness (PSLF)?

  • The PSLF Program was established in 2007 with the passage of the College Cost Reduction and Access Act (2007). In 2009 and 2012, the Program was enhanced with the introduction of Income-Driven repayment options. It states that if you work full-time for a non-profit and make 120 qualifying payments to your student loans, any balance remaining after those 10 years of payments will be forgiven tax free by the federal government.

What does Innovative Student Loans Solutions do?

  • We look for ways to lower your current monthly student loan payment and maximize your student loan forgiveness.  We provide you with a customized strategy to show how you benefit by utilizing this program.

What is a qualifying payment?

  • A qualifying payment is a payment that is made on-time; within 15 days of the due date while working full-time.

What is considered full-time?

  • Full-time means working in a qualifying employment in one or more jobs for the greater of:An annual average of at least 30 hours per week or, for a contractual or employment period of at least 8 months, an average of 30 hours per week.  Unless the qualifying employment is with two or more employers, the number of hours the employer considers full-time.

Do all student loans qualify for the program?

  • Not all student loans qualify for the program. Your federal student loans have to be aligned correctly for them to be eligible. Private Student Loans are not eligible for the program.

Is Innovative Student Loan Solutions a loan consolidation company?

  • Innovative Student Loan Solutions helps prepare documents for consolidation and does not make any loans or negotiate with your lenders. Innovative Student Loan Solutions is a document processing, financial review and strategy implementation company, not a loan consolidation company.

Is Innovative Student Loan Solutions a part of the Department of Education?

  • No.  Innovative Student Loan Solutions is not affiliated with the Department of Education nor any academic or governmental entity. Innovative Student Loan Solutions is a for-profit company.  Services provided by Innovative Student Loan Solutions may be performed without paid assistance if you have the time and energy to learn, complete the procedures and obtain the paperwork necessary to do so.  These include, but are not limited to, retirement analysis, life event analysis, tax return strategy/analysis and preparation, multi-year financial modeling including estimates for salary changes, life events, dependent deductions, analysis of optional pre-tax deductions, federal loan consolidation assistance, IDR estimation and calculation, coordination of employment certification and other paperwork with the federal loan servicing agencies.

Are there other loan forgiveness programs available?

  • Yes.  Innovative Student Loan Solutions will analyze your current situation and navigate the best available student loan forgiveness options for you.