Public Service Loan Forgiveness waiver expires Oct. 31
The Education Department recently announced an overhaul of PSLF designed to benefit millions of public service workers. In short, borrowers who were previously ineligible because they had the wrong loan, were making payments on the wrong payment plan, or were knocked off track due to processing errors can now receive credit toward forgiveness for those years worked in public service. As a result, teachers, nurses, public interest attorneys, social workers, first responders, servicemembers, and many others may be eligible for significant relief, but the deadline for action is Oct. 31.
PSLF is different from the one-time loan relief up to $20,000 recently announced by the Biden Administration.
- Deadline to apply for a Public Service Loan Forgiveness waiver is Oct. 31. Check out NEA's full set of tools to see if you are eligible.
- U.S. Rep. Pramila Jayapal and the Student Borrower Protection Center, along with WEA, hosted an Oct. 12 webinar for WEA members to learn more about updates to the PSLF program, get guidance on how to navigate the new process, and ask questions. Watch recording and use passcode: gb0P3y?L
- WEA/NEA members can enter their own financial numbers for free through the Savi NEA Student Loan Forgiveness Navigator (You'll need to sign in to verify your union membership). You'll receive information about programs for which you may qualify, and how much you can save — whether through loan forgiveness, cancellation or consolidation. If you find a solution that’s right for you, for $30 you can also have the tool help fill out and file your paperwork. Find details online about the Savi NEA Student Loan Forgiveness at neamb.com/student-loan-debt.
- Biden Administration's Student Debt Relief Plan fact sheet