You may qualify for relief – and I hope you take advantage of this opportunity if you do!
Public Service Loan Forgiveness program
As government employees you may be eligible to have some of your federal student loan debt forgiven, thanks to temporary changes to the Public Service Loan Forgiveness program. Under this limited waiver, borrowers can receive credit for payments that otherwise would not have qualified for PSLF.
But, time is running out to take advantage of this tremendous opportunity.
Borrowers with federal student loans have until October 31, 2022, to apply for PSLF and/or consolidate non-Direct federal student loans to get the benefit.
This waiver applies even if you did not make the payment on time, pay the full amount, or if you were on the wrong repayment plan. It also applies to loans that typically do not qualify for PSLF, including Federal Family Education Loans, Federal Perkins Loans, Federally Insured Student Loans, National Defense Student Loans, and more.
Please check your eligibility before it’s too late and tell your family members and friends who may be eligible, to check their status as well.
Visit www.pslf.gov for more information and to apply for forgiveness.
President’s announcement on student loan forgiveness
On Wednesday, President Biden announced that the Administration will cancel up to $20,000 in student debt for Pell Grant recipients and up to $10,000 in student debt for non-Pell Grant recipients. This relief will be available to borrowers earning less than $125,000 annually or households earning less than $250,000 annually. While more details on claiming this relief will be available in the coming weeks, public servants are encouraged to seek immediate relief through the temporary changes to the Public Service Loan Forgiveness program mentioned above.
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