White House chief of staff Ron Klain said last week that the Biden administration is considering another extension of the student loan pause for all.
The Public Service Loan Forgiveness program promises to wipe away remaining federal student loan debt after an eligible public service worker makes 10 years of monthly payments. It was created about 15 years ago, but a very small percentage of people who applied had received forgiveness before 2021.
"The PSLF announcement made today means more of our dedicated teachers, nurses, first responders, service members, and many other public service workers will get meaningful relief," Education Secretary Miguel Cardona said then in a statement.Due to the temporary waiver, it no longer matters what kind of federal student loan a borrower has or what repayment plan he or she is enrolled in.
Those who already have Direct Loans but have not submitted employment certification forms for past periods of repayment must also do that now.
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