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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 ...
The administration said it will spend nearly $4.3 billion to cancel student debt for 55,000 such workers, the result of fixes made to the Public Service Loan Forgiveness Program.
Student loan forgiveness for public-sector workers like teachers and nurses will be temporarily paused beginning May 1 as the Department of Education moves management of the program in-house.
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 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 ...
WASHINGTON — President Joe Biden announced Thursday that the White House has approved the cancellation of nearly $6 billion in federal student debt for thousands of public service workers.
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 Public Service Loan Forgiveness provides student debt forgiveness to those who have worked at least 10 years in public service jobs with federal, state, local, or certain non-profit ...