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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. [1]
In March 2020, the CARES Act passed by Congress included a pause on federal student loans repayments and interest until September 30, 2020. [8] On August 8, 2020, the Trump administration issued a memorandum instructing the Secretary of Education to pause on student loan payments and interest through December 31, 2020 using the authority ...
The White House said Friday it approved another $4.28 billion in student debt cancellation for 54,900 additional public service workers in what could be one of the Biden Administration's final act ...
In addition to increasing the maximum Pell Grant award and reducing interest rates on subsidized student loans, a new "income-based repayment" option capped loan repayment at 15% of an individual's discretionary income, while a Public Service Loan Forgiveness promised that some borrowers could forgive student loan balances after ten years of ...
The new batch of debt cancellation comes a few days after the administration said it passed the milestone of forgiving nearly $200 billion in student loan debt for more than five million borrowers ...
A new path to student loan forgiveness The Biden-Harris Administration recently created a new debt relief plan using the 1965 Higher Education Act (HEA) , which outlines several federal financial ...
The U.S. Education Department updated the student loan forgiveness process for some borrowers who work in public service, including teachers, police officers and social workers. This change, which ...
Biden v. Nebraska, 600 U.S. 477 (2023), was a United States Supreme Court case related to the forgiveness of federal student loans by the Biden administration in 2022, challenged by multiple states.
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