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To qualify for the Teacher Loan Forgiveness you must be a highly qualified [2] teacher. You must not have had an outstanding balance on Direct Loans or Federal Family Education Loan (FFEL) Program loans as of Oct. 1, 1998, or on the date that you obtained a Direct Loan or FFEL Program loan after Oct. 1, 1998.
The Biden forgiveness plan originally allowed these borrowers to receive forgiveness by consolidating into Direct Loans, but due to potential lawsuits stopped allowing this on September 29, 2022, potentially excluding 800,000 FFEL borrowers. [161] [156] In February 2024, the Biden administration announced it would cancel $1.2 billion of student ...
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]
The Biden administration announced on Oct. 25 executive actions that will bring most loans managed by the Education Department "closer to forgiveness," the Department of Education declared. One ...
Student loan administrative forbearance has been extended until Jan. 1, 2023. This is the seventh reprieve for federal student loan borrowers. This was originally published on The Penny Hoarder ...
Two months following the resumption of student loan payments -- which were on a three-year hiatus -- President Joe Biden announced on Dec. 6 that an additional 80,300 Americans have been approved ...