Posted on 05/14/2023 6:04:30 AM PDT by Oldeconomybuyer
Although the Biden administration’s sweeping student loan forgiveness plan and the legal troubles around it have gotten the most headlines, the U.S. Department of Education has already canceled more than $66 billion in education debt under existing programs.
More than 2 million borrowers, including defrauded students and those who work in the public sector, have benefited from that relief over the last few years.
$42 billion in debt canceled for public servants.
The Public Service Loan Forgiveness program allows certain nonprofit and government employees to have their federal student loans canceled after 10 years, or 120 payments.
A number of recent changes to the policy have increased the number of borrowers who’ve had their debt canceled under it. Those changes include simplifying and broadening the eligibility requirements.
As a result, the Education Department announced this month that it has approved $42 billion in loan cancellation under the PSLF program for more than 615,000 borrowers since October 2021.
The best way to find out if your job qualifies as public service is to fill out the so-called employer certification form. Try to fill out this form at least once a year, said higher education expert Mark Kantrowitz. Borrowers should also maintain records of their confirmed qualifying payments, he said.
The pause on federal student loan payments, which has been in effect for over three years now, has proven to be a massive benefit for borrowers pursuing PSLF, Kantrowitz pointed out. All the months during the pause count toward a borrower’s 120 required payments.
(Excerpt) Read more at cnbc.com ...
Disgusting...My kids worked their a**** off to repay their debt. These same kids will be filing bankruptcy every chance they get. They’re learning how to play us...and we let them.
It works-for him.
Wait until he gives all of his illegal aliens 4 years of free college whether or not they can do it…
some Republicans complained, right?
The government takes care of its own — with our money.
If working and paying for 10 years and in a qualified not for profit etc. then I have no problem with this. Of course it will get scammed.
Traitorjoe now uses the Constitution as his Depends.
Will any Republicrats object?!?
The purpose of government seems to be to plunder everyone else.
Those who suck off the public teat should be the last (of zero) to get their student loans wiped out.
the U.S. Department of Education has already transferred more than $66 billion in education debt to the American taxpayer.
Bookmark
Nope.
Why is it that ‘government workers’ have more benefits and retirement plans than the poor working slobs that pay for these ‘government workers’? The last I’ve seen, the ‘government workers’ .............are......... (Military excluded)
“...those who work in the public sector...”
It others words, those primates who took Black Studies, or Womyns Studies or Gay Studies.
They are government employees, not workers. The last thing they actually do is work. /spit
how about a rebate for my sons.
My government job for 12 years is the main reason I could retire comfortably. The 25 years in private company jobs gave me very few benefits in retirement.
Be careful..I worked for government for 12 years and I did my job well.
.....my son graduated from Texas A & M. He is one of the millions that studied 5 years, did well and got a degree that was not a fit for him when he got in the real world. Today, he is doing well but his degree is on the wall at my house.
I haven’t talked to him specifically about the loan forgiveness but I’m sure he’s thankful as he has been paying on it for many years. That said, I guarantee Biden and his fellow marxists one thing and that is that their socialist move in cancelling legitimate loans made to students did not buy them my sons vote.
Does that include the $22,000.00 deeclared college debt of AOC?
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