BusinessEducationEducation Department to Streamline Student-Loan Forgiveness for Public Servants

Education Department to Streamline Student-Loan Forgiveness for Public Servants

-

- Advertisment -sslate

An overhaul of the federal Public Service Loan Forgiveness program could bring relief to more than 550,000 student-loan borrowers nationwide who work in government or nonprofits.

The program aims to provide student-debt relief once a government or nonprofit employee has worked and made monthly payments for 10 years, but many borrowers report finding the process difficult to navigate.

Dr. Jessica Saint-Paul, who works at a healthcare nonprofit, discovered after working toward loan forgiveness her payment plan did not qualify for assistance.

“After 10 years, that’s when I found out, ‘Oh, you’re in the wrong loan, and you’re not in a payment program. So you’re going to have to start over from scratch,'” Saint-Paul recounted. “So there was no difference between me and a borrower who is starting for the very first time repaying their loans starting at zero.”

loan

In Michigan, 1.4 million people Student debt data Institute for College Access and Success Oct. 2020 owe student loans, nearly 60% of graduates.

The changes announced Wednesday by the U.S. Department of Education include a waiver to make all federal loan repayments qualify towards forgiveness, even ones not previously eligible. In addition, the new plan commits to helping active-duty service members access the program.

Dana Nessel, Michigan Attorney General, was among 22 AGs across the country who called on the Department of Education to take steps to fix what they called the “broken” forgiveness program, noting the Department had rejected 96% of applications.

Miguel Cardona, U.S. Secretary of Education, said they are ready to turn that around.

“You’ve done so much to help our community, and it’s our turn to serve you,” Cardona pledged. “You were made a promise, and it’s now our turn to deliver on that promise.”

The average amount borrowers in Michigan owe is around $30,000. Groups advocating for student debt relief said fixes were long overdue and hope to see more measures to cut down on student loan debt for people who may not work in the government or nonprofit sectors.

Sunshine Slate
Sunshine Slatehttps://www.sunshineslate.com
Sunshine Slate is your news, entertainment, music fashion website. We provide you with the latest breaking news and videos straight from the United States of America.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest news

PERLIE’s Comfort Men’s Shoes Are Taking America By Storm

PERLIE’s unique and patented technology combining sneaker comfort with the looks and quality of luxury men’s shoes, has taken America by storm

Small businesses show their community spirit with support and solidarity in challenging times

New research shows the incredible camaraderie and resilience that exists among small business owners in the face of ongoing challenges.

Florida Nonprofit Helps Offset High Cost of Insulin

November is National Diabetes Awareness Month, a time to bring attention to a disease affecting more than 37 million Americans,

Can Wheel Spacers Cause Vibration at High Speed

Wheel spacers are important for your vehicles. This article shows us whether wheel spacers cause vibration.
- Advertisement -

5 New Shows Expected to Bring a Lot of Entertainment  

Without any further delay, here are some exciting shows you can plan on watching

Best Apps for your New Mobile Phone

We can install any app from the google play store very quickly. Let’s take a look at some most amazing apps for android mobile phones.
edealo.com
- Advertisement - Motel 6
transformerscon

Must read

Best Apps for your New Mobile Phone

We can install any app from the google play store very quickly. Let’s take a look at some most amazing apps for android mobile phones.

Uncertainty Hovers on Clean Water Act’s 50th Anniversary

The Clean Water Act turns 50 this week, but parts of it are being challenged in a case before the U.S. Supreme Court.
- Advertisement -
- Advertisement -sslate

You might also likeRELATED
Recommended to you