Public Service Loan Forgiveness (PSLF) is a fantastic program is you can qualify for it. PSLF forgives the remaining balance on your federal student loans if you meet certain requirements, which include working full-time in a public service position while repaying your student loans.
The program is in danger of being cut in President Trump’s latest budget. However, this change would only apply to student loans taken out on or after July 1, 2021. Therefore, if you’ve been making payments under this program up to this point, you are still eligible.
A new bill passed by Congress will make it easier for student loan borrowers to qualify for student loan forgiveness, CNBC reports.
The bill gives the Department of Education $350 million to offer forgiveness to student loan borrowers who meet all requirements for public service loan forgiveness except that they were enrolled in graduated or extended repayment plans, which were ineligible for relief.