r2d2 Posted October 6, 2021 Report Share Posted October 6, 2021 The US Department of Education announced major changes Wednesday to a federal student loan forgiveness program that the agency says could bring relief to more than 550,000 borrowers working in government and nonprofit sectors, including around 22,000 borrowers who will automatically be eligible for student loan forgiveness without needing to take additional steps. Through the Public Service Loan Forgiveness program, the government forgives remaining federal student loan debt for qualifying public-sector workers after they have made monthly payments for 10 years. These actions include offering a time-limited waiver authorizing "all prior payments" from student borrowers to count towards the program, including loan types and payment plans that didn't previously qualify for forgiveness. This waiver will continue through October 31, 2022, the memo said. "This Limited PSLF Waiver will apply to borrowers with Direct Loans, those who have already consolidated into the Direct Loan Program, and those with other types of federal student loans who submit a consolidation application into the Direct Loan Program while the waiver is in effect," according to the agency's memo. More than 1 million borrowers have made at least one qualifying payment, but only a small percentage of those enrolled have received forgiveness. Roughly 5,500 people have seen their debt wiped away, according to the latest government data. Quote Link to comment Share on other sites More sharing options...
reddyrao Posted October 6, 2021 Report Share Posted October 6, 2021 Sakshit: yuvametha nu anusaristunna American govt. Quote Link to comment Share on other sites More sharing options...
manchineellu Posted October 7, 2021 Report Share Posted October 7, 2021 9 hours ago, reddyrao said: Sakshit: yuvametha nu anusaristunna American govt. Quote Link to comment Share on other sites More sharing options...
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