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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]
In August 2022, the administration used the Act again to announce student debt cancellation of up to $20,000 and several other reforms. [7] [16] Following litigation brought by several Republican-led state governments, the Supreme Court ruled in Biden v. Nebraska (2023) that the statute did not permit the administration's debt forgiveness ...
The government's efforts to reform the system piece by piece instead of broad-based forgiveness has chipped away at the $1.7 trillion in outstanding student loan debt held by 41 million Americans.
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 Supreme Court is set to hear oral arguments on Tuesday over President Biden’s student loan debt relief plan, which aims to wipe away up to $20,000 of student debt for more than 40 million ...
That’s about one-third of the amount of student loan debt that would have been canceled by the forgiveness program rejected by the high court, which would have canceled up to $20,000 for ...
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