Fortune.com: “Borrowers need to act to have any payments count toward relief”

“Borrowers on track for Public Service Loan Forgiveness (PSLF) have two months left to fill out a special waiver from President Joe Biden’s administration to have more of their past payments count toward forgiveness.

The PSLF program is meant to encourage workers to pursue jobs in fields like education, health care, and nonprofit work. When it works as intended, people who have worked full-time in a qualifying public service job for at least 10 years and have made on-time payments on their student loans the entire time can have the rest of their balance paid off, tax-free.

But the program has been bit of a mess. Borrowers report being confused about which payments count toward forgiveness, and loan servicers misled many about the process. Before Biden took office, just 1% of PSLF applicants had actually received forgiveness for the loans.”

Read more: https://fortune.com/2022/09/01/when-is-public-service-loan-forgiveness-waiver-application-deadline/