A release from Brethren Benefit Trust
A change in federal regulations governing student loan forgiveness means that clergy and other church workers, previously excluded from this program, are now eligible. If you are interested in learning whether your student loan debt qualifies for the Public Service Loan Forgiveness program, you are invited to attend a free webinar that will explain the qualifications and requirements, what the application deadline is, and what you must do to apply.
The webinar will be held Tuesday, April 5, at 1-2 p.m. (Eastern time). Participants must register in advance.
Until July 2021, the Public Service Loan Forgiveness program excluded church workers from consideration, but now that exclusion has been removed, and there is a good chance that many pastors and church employees may qualify. There are many factors involved in applying to the program, including that your student loans must be federal loans through the Direct Loan Program, you are required to make (or have made) 120 payments, and the person applying must work fulltime for an employer that meets the qualifying standard.
There are many more details pertaining to the program and particular qualifications. Presenting at the April 5 webinar will be Kathleen Floyd of the Church Pension Group and Scott Filter of the Consumer Financial Protection Bureau. They fielded more than 600 questions after presenting the webinar in January, prompting this second opportunity to share the information with more people.
The webinar is sponsored by CPG, the agency that handles pension and insurance administration for the Episcopal denomination. Through its involvement in the Church Benefits Association, the staff of Brethren Benefit Trust (BBT) meets and works with other agencies, such as CPG, throughout the year to share and gather information that is helpful across denominations. This invitation to take part in the April 5 webinar is an example of how we share important information for the good of all workers in the faith community.
Register for the webinar at https://cpg.zoom.us/webinar/register/WN_XUKZAJSCSHyTBJLgymbOEA.
— Jean Bednar of the BBT communications staff contributed this article to Newsline.
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