USDOE announces overhaul of Public Service Loan

The U.S. Department of Education announced in October that it will implement an overhaul of the Public Service Loan Forgiveness (PSLF) Program over the next year, to make the program live up to its promise. As a result, 22,000 borrowers who have consolidated loans—including previously ineligible loans—will immediately become eligible for $1.74 billion in forgiveness without the need for further action on their part. Another 27,000 borrowers could potentially qualify for an additional $2.82 billion in forgiveness if they certify additional periods of employment.

Visit ed.gov for details. See this fact sheet on the overhaul.

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