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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 US first major government loan program was the Student Loan Marketing Association (Sallie Mae), formed in 1973. [19] [clarification needed] Before 2010, federal loans included: loans originated and funded directly by the Department of Education (ED) government guaranteed loans originated and funded by private investors.
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 ...
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 ...
Select private student loan borrowers may be eligible for student loan forgiveness through former servicer Navient. ... for a school misconduct discharge application. ... a servicer has created a ...
President Joe Biden on Monday officially kicked off the application process for his student debt cancellation program and announced that 8 million borrowers had already applied for loan relief ...