QUALIFYING PAYMENT DEFINITIONS
Qualifying payments are separate, on-time, full monthly payments made on an eligible loan after October 1, 2017 under a qualifying repayment plan while employed full-time by a qualifying employer.
An on-time payment is a payment made no more than 15 days after the due date for the payment.
Eligible loans are loans made under the William D. Ford Federal Direct Loan (Direct Loan) Program that are not in default.
Qualifying repayment plans include the Revised Pay As You Earn (REPAYE) plan, the Pay As You Earn (PAYE) plan, the Income-Based Repayment (IBR) plan, the Income-Contingent Repayment (ICR) plan, the Standard Repayment plan with a maximum 10-year repayment period, and any other Direct Loan repayment plan if payments are at least equal to the monthly payment amount that would be required under the standard Repayment plan with a 10-year repayment period.
QUALIFYING EMPLOYMENT DEFINITIONS
A Qualifying employer includes employment. a not-for-profit organization that is tax-exempt under Section 501(c)(3) of the Internal Revenue Code, or a private not-for-profit organization that provides certain public services. Serving in an AmeriCorps or Peace Corps position is also qualifying employment.
Government includes a Federal, State, local or Tribal government organization, agency or entity; a public child or family service agency; or a Tribal college or university.
A private not-for-profit organization is an organization that is not organized for profit, is not a labor union, is not a partisan political organization, and provides at least one of the following public services as its primary purpose: (1) emergency management, (2) military service, (3) public safety, (4) law enforcement, (5) public interest legal services, (6) early childhood education, (7) public service for individuals with disabilities and the elderly, (8) public health, (9) public education, (10) public library services, (11) school library services, or (12) other school-based services.
AmeriCorps position means a position approved by the Corporation for National and Community Service under Section 123 of the National and Community Service Act of 1990 (42 U.S.C. 12573).
Peace Corps position means a full-time assignment under the Peace Corps Act as provided for under 22 U.S.C. 2504.
QUALIFYING PAYMENT DEFINITIONS (CONTINUED)
An employee means an individual who is hired and paid by the qualifying employer.
Full-time means working for one or more qualifying employers for the greater of: (1) 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; or (2) Unless the qualifying employment is with two or more employers, the number of hours the employer considers full time.
An authorized official is an official of a qualifying employer who has access to the borrower's employment or service records and is authorized by the employer to certify the employment status of the organization's employees or former employees, or the service of AmeriCorps or Peace Corps volunteers.
Early childhood education includes licensed or regulated child care, Head Start, and State funded prekindergarten.
Law enforcement means crime prevention, control or reduction of crime, or the enforcement of criminal law.
Military service means service on behalf of the U. S. Armed Forces or the National Guard.
Public education includes services that provide educational enrichment or support directly to students or their families in a school or a school-like setting.
Public interest legal services refers to legal services that are funded in whole or in part by a local, State, Federal, or Tribal government.
Public health includes nurses, nurse practitioners, nurses in a clinical setting, and full-time professionals engaged in health care practitioner occupations and health support occupations, as such terms are defined by the Bureau of Labor Statistics.
A forbearance is a period during which you are allowed to postpone making payments temporarily, allowed an extension of time for making payments, or temporarily allowed to make smaller payments than scheduled. A forbearance can be a mandatory forbearance, meaning that your loan holder must grant the forbearance if you qualify for the forbearance and supply all supporting documentation. A forbearance can also be a discretionary forbearance, meaning that your loan holder may grant the forbearance, but is not required to do so.