"Student Loan Payment Pause Set to End, Leaving Millions in Debt"

1 min read
Source: Yahoo Finance
TL;DR Summary

The Biden administration has approved the discharge of student loan debt for over 615,000 borrowers since October 2021 under temporary changes to the public service loan forgiveness (PSLF) program, totaling $42 billion in debt. The changes allowed previously denied borrowers to reapply, expanded who qualifies to apply for forgiveness, and counted payments that were otherwise not eligible for the original program. The PSLF waiver was enacted as part of the 2021 legal settlement of a lawsuit with the Education Department. Additionally, the Education Department announced improvements to the PSLF Help Tool that borrowers use to apply for the program.

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