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Tip of the Week |
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October 6, 2021 |
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Public Service Loan Forgiveness Program overhaul |
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The country's teachers, nurses, firefighters, and other public servants – many of whom have been on the frontline of the pandemic, should find it easier to take advantage of a promise made to them when they entered their career field. The Department of Education today announced a major overhaul of the Public Service Loan Forgiveness program (PSLF). In the announcement, the Department said PSLF has been an unmet promise to public service workers others "serving their communities through hard work that is essential to our country's success." In addition, the Department said "PSLF removes the burden of student debt on public servants, makes it possible for many borrowers to stay in their jobs, and entices others to work in high-need fields." The Department estimates that these changes to the PSLF program could help more than a half million borrowers.
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