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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.
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 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 ...
Thanks to fixes made to existing federal programs, certain individuals enrolled in Public Service Loan Forgiveness, the SAVE Plan or another income-driven repayment plan are eligible for the relief.
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 ...
One of the biggest topics of 2022 has been student loan forgiveness.It hit a fever pitch in August when the White House announced a huge step in trying to mitigate the looming financial crisis for ...