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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]
The PSLF program forgives remaining student loan balances for borrowers in the Direct Loan program after 120 qualifying monthly payments under an income-driven repayment (IDR) plan.
When you’re working toward Public Service Loan Forgiveness (PSLF), it’s helpful to submit the Employment Certification form every year to verify your employment (or at least every time you ...
December 20, 2024 at 7:41 AM. ... Friday's approvals bring the total number of Americans who have had their loans forgiven through the Public Service Loan Forgiveness program to 1.06 million.
In October 2021, the Biden administration used the HEROES Act to reform a student debt forgiveness program for public workers. [15] In August 2022, the administration used the Act again to announce student debt cancellation of up to $20,000 and several other reforms.
April 29, 2024 at 4:07 PM. ... The relief is available for students enrolled in income-driven repayment plans or the Public Service Loan Forgiveness program. It's also available for some parents ...