9 million student loan borrowers now qualify for student loan forgiveness. Here’s what you need to know:
U.S. Senators Sheldon Whitehouse and Jeff Merkley proposed new legislation — the Simplifying and Strengthening PSLF Act help more student loan borrowers qualify for student loan forgiveness.
The Biden administration is focused on revamping public service loan forgiveness to encourage more student loan borrowers to apply and get student loan forgiveness. This new legislation could gain some bipartisan support, since it’s tied to public service. As a presidential candidate, Biden also supported reducing the requirements for public service loan forgiveness to five years. However, Biden’s proposed toeach year for five years.
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