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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.
The PSLF program forgives remaining student loan balances for borrowers in the Direct Loan program after 120 qualifying monthly payments under an income-driven repayment (IDR) plan.
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 ...
President Joe Biden announced the much-anticipated administration's plan for loan forgiveness on Aug. 24. But while the plan was mostly widely lauded, details were scarce, until now. Student Loan...
After Biden’s original student loan forgiveness proposal for up to $20,000 in relief per borrower was struck down by the Supreme Court earlier this year, his administration is working on a new ...
The student loan forgiveness plan announced last week by the Biden administration provides sweeping relief to federal student loan borrowers in the form of both canceled debt and an extension of ...
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