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One month before President Biden leaves the White House, the Biden administration announced it has forgiven student loan debt for 54,900 public service workers.
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 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. “Four years ago ...
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.
Today’s changes are the result of a long-standing effort by the Biden administration to fix the federal repayment program. Today, total relief through PSLF now equals $62.5 billion for 871,0000 ...
The U.S. Education Department updated the student loan forgiveness process for some borrowers who work in public service, including teachers, police officers and social workers. This change, which ...
President Joe Biden announced another round of student loan relief ... more than all other administrations combined since the Public Service Loan Forgiveness Program was first established by ...
The Public Service Loan Forgiveness provides student debt forgiveness to those who have worked at least 10 years in public service jobs with federal, state, local, or certain non-profit ...