US Department of Education overhauls Public Service Loan Forgiveness program

Through the Public Service Loan Forgiveness program, the government forgives remaining federal student loan debt for qualifying public-sector workers after they have made monthly payments for 10 years. But the program has long been criticized for being difficult to navigate, with borrowers receiving little help from their loan servicers, the companies that handle billing and other services.

These issues include confusion about eligibility requirements and the correct types of federal student loans and repayment plans, as well as instances of miscommunication between the Education Department and the loan servicers, and between the servicers and borrowers."Borrowers who devote a decade of their lives to public service should be able to rely on the promise of Public Service Loan Forgiveness," said Education Secretary Miguel Cardona in a statement Wednesday.

Nice!!!

How about dropping the interest rate to 1% or zero for a few years. Then have people pay it down as much as possible.

more than 3.5 million parents have a Parent Plus loan, owing the government more than $98 billion, and 1 in 8 families will default on those, why are the excluded from the Waiver when they were part of all other emergency pandemic relief....

SecCardona SecCardona SenWarren Why are wet signatures required for PSLF/TEPSLF? Please change this to include digital signatures. It’s impossible to get a wet signature from my government employers (all 100% telework/virtual)!

It took me 25 years to pay off my student debt. I don’t think we should have to pay so much for a degree.

Relax everyone! Did you read the details? They aren’t giving us anything. Just some political hype as usual! No one is actually going to help the middle class. SenSchumer JoeBiden

Thank you Jesus! there is a God and he sees all.

SecCardona Just another lie by SecCardona Only 1.3% of public servants will see relief, everyone else will have to continue fighting the department & the loan servicers. Read the fine red print parent borrowers, elderly on SS, retirees not employed anymore are not eligible for the waiver

SecCardona

joncoopertweets Yeah I tried again today. The system said my employer did not qualify as 'government.' 22 years in and I guess I just working for a guy named 'Government.'

Now JoeBiden and SecCardona should cancel student loan debt for disabled veterans, who have been completely left out of debt relief. CancelStudentDebt CancelDisabledVeteranStudentDebt

Pay off your debt! You signed a contract and spent the money. Quit whinning. Sue you guidance counsellor for selling you a crap degree.

That’s bull*t it should be for EVERYONE!!!

Joe Biden: 'And there’s a need, whether it is true or not, there is a need to project a different picture.' Joe’s mantra for 40 years.

What about people that allready paid? Totally Unfair!!

Well Bullshit to that. Why borrow money if you have no intention of paying it back! Next they will want government to pay off car loans, mortgages, etc. Won't take responsibility for their debts, will want taxpayers to pay. Congress robs Social Security so they rob the taxpayer

So according to the IRS! Making 75000 is poor if you are a teacher and 50000 income for health care workers considered rich ! That stupid in all level

What about everyone else?

If you want 4 years free college give 4 years of military service first.

More gifts from the pockets of innovators/tax producers.

why does administration loathe private sector workers who fund everything?

I know from my own personal experience and the experiences of my sons, it can be really hard to pay back. But, when adults put themselves into debt, they are responsible. Loans need to be paid back, period.

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Interesting how the government extends benefits only to government workers, but mandates to government workers AND government contractors.

Reminds me of communist Cuba where communist government employees got benefits that the rest of the population did not. What's next, free cars and free houses for public sector employees (government agents)?

I wish a federal cap on tuition rates were being considered by the department. Wiping out debt is well & fine for some but how often can it be done if the root of the problem is never addressed. Course work should not be $400 to $1000 per credit hour at 3 hrs per class.

Cancel all of em 😏😏

Selling out the youth of America for their greed

Cancel student debt and make education free for all.

The State will take care of you, as long as you don't go against the State. -Stalin

Anyone care to share with us the mechanics of loan forgiveness? Is it code for taxpayer picks up the tab?

I just think that it’s coming a little shorter. I believe that the whole education system needs overhauling!

What about waving credit card debt we lived off when laid off from pandemic? Hmmm POTUS wave student debt but not had to survive debt. Seems right to me

You blow up this story as if this is a 'Major' change when it doesn't help most people. It is literally a small change and a lifeline for a small % of outstanding student loans. It is great for them...but 'major changes' is a flase PR push. Major is loan forgiveness for all.

Just drop the interest rate to 1%

Now I understand how the transformation of Nazi control happened. It’s happening now with the Biden administration a lot of complaining but their Agenda is moving forward with little resistance

Yeah and what about those who had to switch over to private loans because Public Service Loan Forgiveness failed them?

I wish federal contractors who do the same job as their Civil Servants coworkers could qualify.

CancelStudentDebt

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