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Current as of January 01, 2024 | Updated by Findlaw Staff
As used in the Public Service Loan Forgiveness Multiplier Act:
A. “certifying employment” means either completing the employer sections of the public service loan forgiveness form or sharing data directly with the United States department of education that corresponds to the information required for the public service loan forgiveness form;
B. “employee” means someone who works for a public service employer, regardless of whether the public service employer considers that work to be full-time or part-time, contingent or contracted, or who receives a form W-2 from the employer;
C. “full-time” means the lesser of:
(1) working at least an average of thirty hours per week or working at least an average of thirty hours per week throughout a contractual or employment period of at least eight months in a twelve-month period; or
(2) an hourly standard adopted by the United States department of education;
D. “public service employer” means a post-secondary educational institution in the state that is designated as a qualifying employer under the federal public service loan forgiveness program by the United States department of education;
E. “public service loan forgiveness form” means the form used by the United States department of education to certify an individual's employment at a public service organization and is used to determine eligibility for the purposes of the public service loan forgiveness program; and
F. “public service loan forgiveness program” means the federal loan forgiveness program established pursuant to 34 C.F.R. Section 685.219, as amended.
Cite this article: FindLaw.com - New Mexico Statutes Chapter 21. State and Private Education Institutions § 21-22K-2. Definitions - last updated January 01, 2024 | https://codes.findlaw.com/nm/chapter-21-state-and-private-education-institutions/nm-st-sect-21-22k-2/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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