Student Debt Resources

 
 
 

Student Debt Relief Workshops

SEIU Local 500 has introduced substantial enhancements to the student loan debt relief benefits stipulated in your contract. The provision for debt relief has been amplified, moving from 5% to 10% of your yearly student loan debt. This benefit applies to debt accumulated before and after your employment commencement date with MCPS.

The window to request financial aid from the Student Debt Relief Fund opens between February 15 and March 31.

To be eligible for this student loan debt relief, it is mandatory to participate in one of SEIU Local 500's Student Loan Debt Relief workshops. Please ensure to register by using the links provided below:


February 7, 2024, 4:00 PM - Click here to register
February 13, 2024, 12:00 PM - Click here to register
February 28, 2024, 10:30 AM - Click here to register
March 6, 2024, 04:00 PM - Click here to register
March 13, 2024, 11:30 AM - Click here to register
March 20, 2024, 05:00 PM - Click here to register
March 26, 2024, 12:00 PM - Click here to register

Interested? To apply—

Employee and Retiree Service Center
Attn: SEIU Student Debt Relief
45 West Gude Drive, Suite 1200
Rockville, Maryland 20850

If you are a returning applicant who was approved previously, you must—

  • Complete the application (MCPS Form 442-1).

  • Follow the checklist instructions for previously approved applicants at the bottom right of the form.

  • Submit the application between February 15, 2024, and March 31, 2024.

If you applied in a previous year and were denied, you must reapply and follow the eligibility requirements for new applicants.

Questions about the process? Click here to contact your Union.

Student debt cancellation is SO IMPORTANT. 

It addresses long-standing issues of systemic inequality that have left borrowers of color, women, and rural and marginalized communities with more debt and less wealth. It also stimulates the economy in ways that would benefit the entire country.

Here is what we know:

  • Most SEIU members will benefit from a robust student debt forgiveness or cancellation program. 

  • SEIU represents workers in healthcare, human services, education, and state and local government. Significant shares of these workers have taken out federal student loans to meet state, local, and employer degree or certificate requirements. 

  • Between 30 and 40% of health, social services, and education workers hold student debt.  

  • Also, the occupations with the highest student debt amounts are ones represented by SEIU, including community and social service workers, educators, and healthcare professionals who average over $30,000 in student debt.

Department of Education - presentation slides from the September webinar

The Public Service Loan Forgiveness (PSLF) program offers a path to FULL forgiveness for federal student loan borrowers working for the government or a qualifying nonprofit organization.

To qualify for PSLF, you must

  • Be employed by a U.S. federal, state, local, or tribal government or qualifying not-for-profit organization.

  • Work full-time for that agency or organization;

    • For PSLF, full-time employment is working for a qualifying employer or employers for a weekly average, alone or when combined, equal to at least 30 hours:

    • For adjunct faculty, hours are determined by multiplying each credit or contact hour taught per week by at least 3.35 in non-tenure track employment at an institution of higher education.

  • Have Direct Loans (or consolidate other federal student loans into a Direct Loan);

  • Repay your loans under an income-driven repayment plan or a 10-year Standard Repayment Plan; and

  • Make a total of 120 qualifying monthly payments that need not be consecutive.

For more information, please visit this website - https://studentaid.gov/manage-loans/forgiveness-cancellation/public-service - or the PSLF Help Tool at https://studentaid.gov/pslf/.

Member-Only Perks

Freedom from student loan debt is possible: SEIU and Savi make the process easy - Click here for the SEIU Student Debt Navigator.

Not a member of Local 500 - click here to activate your membership!