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The Public Service Loan Forgiveness (PSLF) program is a United States government program that was created under the College Cost Reduction and Access Act of 2007 signed into law by President George W. Bush to provide indebted professionals a way out of their federal student loan debt burden by working full-time in public service. [1]
In August, the Biden administration announced $10,000 in student loan forgiveness along with an additional $10,000 in forgiveness for Pell Grant recipients. Single borrowers who make less than ...
For example, Federal Student Aid announced in April that over 1 million student-loan borrowers were being transferred from Mohela to new servicers upon Mohela request to allow borrowers to receive ...
More details are coming to light on how the Biden administration's new student loan forgiveness program will start to be implemented, including news that relevant applications will become available...
MOHELA was accused of being involved in six state attorneys' general lawsuit against the loan forgiveness program, which MOHELA executives denied. [1] The Supreme Court ultimately decided that it could sue on behalf of MOHELA in Biden v. Nebraska, citing Arkansas v. Texas (1953) and Lebron v. National Railroad Passenger Corp. (1995) [19]
It also states MOHELA has not properly tracked public servants’ progress toward student loan forgiveness. Many of AFT’s members are seeking forgiveness under PSLF.
Who qualifies for $20,000 in student loan debt forgiveness? Borrowers who received Pell Grants and make less than $125,000 as individuals or less than $250,000 as married couples are eligible to ...
Member Valerie Plummer, a financial analyst wrote, “I received forgiveness on 7/21/23. I cried on the phone with the Mohela rep when she confirmed it. I’m the first to attend college in my family.