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It was created in 1963 by an Act of the Pennsylvania General Assembly, and engages in loan guaranty, loan servicing, financial aid processing, outreach and other student aid programs. It was announced on July 8, 2021 that the agency and the United States Department of Education would not continue their relationship, effective on December 14, 2021.
The Public Service Loan Forgiveness (PSLF) program is a United States government program that was created under the College Cost Reduction and Access Act of 2007 signed into law by President George W. Bush to provide indebted professionals a way out of their federal student loan debt burden by working full-time in public service.
When student loan borrowers began applying for loan forgiveness 10 years after the program went into effect, most were denied relief. The White House said it made administrative fixes that ...
Public Service Loan Forgiveness (PSLF) is a federal student loan forgiveness plan. The PSLF program forgives remaining student loan balances for borrowers in the Direct Loan program after 120 ...
In the summer of 2023, the Supreme Court ruled to strike down Biden’s student loan forgiveness program, which would have canceled up to $20,000 of debt for roughly 43 million eligible borrowers.
On Friday, Biden and his Education Department said they have approved $4.28 billion in student debt for 54,900 borrowers in the Public Service Loan Forgiveness program, which forgives student debt ...
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