What borrowers need to know about the new Public Service Loan Forgiveness rules
CNN
The US Department of Education recently announced significant changes to a federal student loan forgiveness program that aims to help government and nonprofit workers but has failed in many cases to deliver on its promise of debt relief.
Eligibility for the Public Service Loan Forgiveness program is temporarily expanded through October 31, 2022, so that it now includes borrowers who have older loans that didn't originally qualify as well as those who were in the wrong repayment plan but met the other requirements.
More than 550,000 people could be see their debt wiped away sooner than expected due to the changes to PSLF, the Department of Education said. That includes 22,000 borrowers who are immediately eligible for debt forgiveness.
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