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The Public Service Loan Forgiveness (PSLF) program is a United States government program that was created under the College Cost Reduction and Access Act of 2007 signed into law by President George W. Bush to provide indebted professionals a way out of their federal student loan debt burden by working full-time in public service. [ 1]
The new strategy comes months after the U.S. Supreme Court struck down an ambitious earlier White House plan that would have provided up to $20,000 in loan forgiveness per borrower. That plan ...
President Joe Biden announced another round of student loan debt forgiveness Thursday, totaling $1.2 billion for 35,000 public-sector workers like teachers, nurses and firefighters.
The William D. Ford Federal Direct Loan Program (also called FDLP, FDSLP, and Direct Loan Program) provides "low-interest loans for students and parents to help pay for the cost of a student's education after high school. The lender is the U.S. Department of Education ... rather than a bank or other financial institution." [ 1]
The Biden administration is launching a beta website for its new income-driven student loan repayment plan today, officials told CNN, allowing borrowers to begin submitting applications for the ...
In March 2024, the Biden administration announced that it would forgive $5.8 billion in student loan debt to 78,000 borrowers under the PSLF program, [128] and then an additional $7.4 billion in student loan debt for 277,000 borrowers from additional changes to the PSLF program the next month, which brought the total dollar amount of student ...
President Joe Biden confirmed Aug. 24 what many have anticipated for months – a plan to forgive or reduce student loan debt for millions of debt-saddled borrowers.. If you earn less than ...
The Biden administration discharged another $4.9 billion in student loan debt for more than 73,600 borrowers, the Education Department announced. That brings the total amount discharged since ...