US approves $42B in loan forgiveness for more than 615K public service workers. Do you qualify?
The United States Department of Education this week approved a total of $42 billion in Public Service Loan Forgiveness for more than 615,000 borrowers over the past 18 months.
The targeted debt relief part of a program aimed at getting more people to work in public service jobs.
Those who qualify for PSLF include teachers, librarians, nurses, public interest lawyers, military members, firefighters, police officers, and other public workers.
PSLF is one of several student loan forgiveness programs established by law. It supports public employees by forgiving the remaining federal student loan balance for those who work in public service and make the required 120 qualifying monthly payments.
“The difference that Public Service Loan Forgiveness is making in the lives of hundreds of thousands of Americans reminds us why we must continue doing everything we can to fight for borrowers and why families cannot afford to have progress derailed by partisan politicians,” said U.S. Secretary of Education Miguel Cardona.
The PSLF program is separate from President Joe Biden’s student debt relief plan, which would erase or reduce loans for millions of borrowers regardless of what field they work in.
The U.S. Supreme Court is currently considering whether to move forward with Biden’s plan.
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This is a developing story. Check back for updates as more information becomes available.
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