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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.
Pell Grant-recipients will receive up to $20,000 in student debt forgiveness from loans held by the Department of Education. Non-Pell Grant borrowers are entitled to up to $10,000 in loan forgiveness.
Forgiveness Amount: Teachers can receive $5,000 in loan forgiveness. If teachers are in certain high-need fields, such as math, science or special education, they may qualify for up to $17,500 in ...
To qualify for the Teacher Loan Forgiveness you must be a highly qualified [2] teacher. You must not have had an outstanding balance on Direct Loans or Federal Family Education Loan (FFEL) Program loans as of Oct. 1, 1998, or on the date that you obtained a Direct Loan or FFEL Program loan after Oct. 1, 1998.
The administration said it will spend nearly $4.3 billion to cancel student debt for 55,000 such workers, the result of fixes made to the Public Service Loan Forgiveness Program.
The administration is proposing a rule that would slash the cost of loan repayment for borrowers in the income-driven repayment program. This proposal would: Cap monthly payments at 5% of ...