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 ...
Sickening!
He’s a thief on top of everything
Is he going to pay for this??
Where the hell is the money for me and all my kids. We had to pay for our college loans and now we also get to pay for this political vote buying scheme.
F^^King B^^l S^^T!! This totally pisses me off.
So the actual taxpayers still are paying their loans, as they should, and for the government union leeches as the leeches get even more relief.
In other news, Treasury Secretary Yellen states the US is $88 billion away from running out of money.
EC
If you are a white male you don’t qualify, in fact, you will have your taxes raised,
LOL, that's a good one!
King pedoPIG the1st (may a curse and an ugly pox be upon him) is ruling over the “unwashed masses” by kingship edict.
Other than a couple of brave women, NO ONE in congress is challenging this vile SOB.
It’s been awhile since we’ve had a King rule over us. The last we had eventually didn’t end too well. How do his one fares, we shall see.
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