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Public Service Loan Forgiveness Program

All articles tagged with #public service loan forgiveness program

education1 year ago•2 min saved

"Biden Administration Forgives $5.8 Billion in Student Debt for 78,000 Borrowers, Including Public Sector Workers"

The Biden administration has announced the forgiveness of $5.8 billion in student debt for 77,700 borrowers through the Public Service Loan Forgiveness program, with plans to notify an additional 380,000 public service workers about their eligibility for debt cancellation. This move is part of the administration's efforts to address issues with the program and provide relief to public servants, with nearly 4 million people having already received $143.6 billion in debt relief.

via CNBC|

#biden-administration #borrowers #education

education2 years ago•2 min saved

"Biden administration forgives over $9 billion in student loan debt, benefiting thousands"

The Biden administration will forgive an additional $4.8 billion in student loan debt for 80,300 borrowers, as a result of fixes to income-driven repayment plans and the Public Service Loan Forgiveness program. Over $2 billion will go to borrowers in income-driven repayment plans, while $2.6 billion will be canceled for borrowers in public service for a decade or more. This brings the total amount of student debt canceled by the Biden administration to nearly $132 billion for over 3.6 million Americans. The move is expected to help President Biden in his reelection campaign, as voters support forgiving at least some student loan debt by a 2-to-1 margin.

via CNBC|

#biden-administration #education #income-driven-repayment-plans

education2 years ago•2 min saved

Biden Announces $9 Billion Student Loan Debt Relief for 125,000 Borrowers

The Biden administration has approved an additional $9 billion in debt relief for 125,000 student loan borrowers, just days after federal student loan payments resumed. This brings the total approved debt cancellation to $127 billion for nearly 3.6 million borrowers during Biden's time in office. The cancellations come through existing debt relief programs, including the Public Service Loan Forgiveness program, a recount of past payments, and automatic debt discharge for borrowers with disabilities. The administration is also exploring other pathways for debt relief and has implemented measures to make monthly payments more affordable.

via CNN|

#biden-administration #borrowers #debt-relief

personal-finance2 years ago•7 min saved

"Mother-Daughter Duo Overcomes Student Loan Debt and Divorce Struggles"

Arianna Miskin helped her mother, Susan Miskin, a retired New York City public-school teacher, get her $92,000 student loan balance canceled through the federal Public Service Loan Forgiveness program. Susan's debt was older than her daughter, and she had made more than $30,000 in payments, but her interest rate had spiked due to consolidation and interest compounded during forbearance periods. Arianna spent hours on hold with loan servicers and used temporary waivers from the Biden administration to navigate the complex rules and red tape. She succeeded in getting her mother's loans forgiven, and Susan is now debt-free.

via The New York Times|

#biden-administration #loan-forgiveness #mother-daughter-relationship