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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 action doesn’t affect student loans issued by private lenders, just the ones directly from the federal government. But private loans make up less than 10% of total student loan debt in the U.S.
March 21, 2024 at 2:55 PM. President Biden announced another sweeping federal student loan forgiveness policy, wiping out $5.8 billion in debt for 77,700 borrowers. However, only certain borrowers ...
Nearly half a million student loan borrowers in California enrolled in the new income-driven repayment plan, the U.S. Department of Education announced last week.
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]
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 ...
Nearly 153,000 student loan borrowers currently enrolled in a new repayment plan launched by the Biden administration are expected to get an email Wednesday notifying them that their remaining ...
President Joe Biden announced another round of student loan debt forgiveness Thursday, totaling $5.8 billion for nearly 78,000 public-sector workers, and will be sending congratulatory emails to ...