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Find out how you can easily document employment at a nonprofit to take advantage of a loan forgiveness program.
A: Yes, it is true. A new form from the U.S. Department of Education allows you to document as you go your employment at a 501(c)3 (nonprofit) organization. It addresses the need for doctors to prove that they have 10 years or more of employment with a nonprofit to qualify for the PSLF program. The form can be found at http://studentaid.ed.gov/students/attachments/siteresources/ECF_PSLF.pdf.
Fill out this form annually while employed at a nonprofit and when you change jobs.
Answers to our readers' questions were provided by Craig Molldrem, CLU, ChFC, a financial adviser with North Star Consultants of Texas Medical Division, Dallas. Securities and investment advisory services offered through CRI Securities LLC and Securian Financial Services Inc., members FINRA/SIPC. CRI Securities LLC is affiliated with Securian Financial Services, Inc., North Star Consultants Inc., North Star Consultants Texas Inc., and North Star Resource Group. North Star Consultants Inc., North Star Consultants Texas Inc., and North Star Resource Group are not affiliated with Securian Financial Services Inc; they are independently owned and operated.
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