Tag: Forgiveness

More feds might soon be eligible for student-loan forgiveness

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More federal employees could see their student loans forgiven under a newly introduced bill. The bipartisan legislation would reduce eligibility requirements for the Public Service Loan Forgiveness Program (PSLF). Currently, borrowers must be employed in public service at the time of loan forgiveness. That means retired feds and those who have left public service, but who still made all the qualifying payments, are not currently eligible for the program. The PSLF Payment Completion Fairness Act would remove this requirement. The bill was introduced in both the House and Senate. (Public…

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OPM clarifies how agencies can help feds apply for Public Service Loan Forgiveness waiver by Oct. 31 deadline

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With a fast-approaching deadline to apply for a Public Service Loan Forgiveness limited-time waiver, the Office of Personnel Management said agencies should help federal employees with their applications. If they have the documentation available, agencies can certify a current employee’s entire work history, including that individual’s time working previously at other agencies. “The federal employee should present a separate PSLF form for each federal agency and period of employment for which they are seeking certification and the agency official should certify each form as appropriate,” OPM wrote in an Oct.…

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Biden Claims Congress ‘Passed’ His Student Loan Forgiveness Plan. It Didn’t.

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President Joe Biden recently said Congress approved his plan to “forgive” student loan debt.   While talking with a group of young people at the White House during an on-camera interview published Sunday by NowThis News, Biden said he had “just signed a law” that would forgive $ 20,000 in student debt for Pell Grant recipients and $ 10,000 for all borrowers earning less than $ 125,000 a year.   “It’s passed. I got it passed by a vote or two, and it’s in effect,” Biden said.   Actually, Biden used executive action…

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Education Dept sets deadline for Public Service Loan Forgiveness waiver

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The Education Department is trying to make it easier for public servants to receive student debt relief, but the changes to the federal relief program are only temporary. The agency added a waiver to the Public Service Loan Forgiveness (PSLF) program, in an effort to help more public servants receive debt relief, but to qualify for the program, applications must be in by Oct. 31. The PSLF program, in part, aims to encourage more college graduates to join the federal service. Borrowers who have worked for 10 years in federal…

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