What The Student Loan Forgiveness Program Overhaul Means For You: Via ForbesAdvisor
Editorial Note: Forbes Advisor may earn a commission on sales made from partner links on this page, but that doesn't affect our editors' opinions or evaluations.The U.S. Department of Education plans to significantly revamp the Public Service Loan Forgiveness program, initially offering up to $4.6 billion in student loan debt forgiveness to tens of thousands of borrowers, with more than 550,000 others eligible for loan relief.
To gain forgiveness, borrowers had to have the right type of federal student loans and repay them using the right To make sure past payments are counted, direct loan borrowers may need to submit a PSLF form by October 31, 2022. Those with Federal Family Education loans or Perkins loans must consolidate their student debt with a direct consolidation loan and submit a PSLF form by October 31, 2022.Borrowers in the Military Have Relaxed Rules
According to the Department of Education, “Federal Student Aid will develop and implement a process to address periods of student loan
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