April 21, 2022
U.S. Department of Education announces actions to fix longstanding failures in the student loan programs
WEBINAR: Monday, May 9, at 3 p.m. ET. Register here.
The U.S. Department of Education (DOE) has announced actions that will help at least 3.6 million borrowers move closer to debt forgiveness.
According to a DOE press release, these steps “will bring borrowers closer to public service loan and income-driven repayment (IDR) forgiveness by addressing historical failures in the administration of the federal student loan programs.”
DOE’s Office of Federal Student Aid (FSA) estimates that these changes will result in immediate debt cancellation for at least 40,000 borrowers under the Public Service Loan Forgiveness (PSLF) Program. Several thousand borrowers with older loans will also receive forgiveness through IDR. More than 3.6 million borrowers will also receive at least three years of additional credit toward IDR forgiveness.
HACU members are invited to a webinar presented by DOE’s Office of Federal Student Aid to learn more about these new provisions on Monday, May 9, at 3 p.m. ET. To register for the webinar, click here.
HACU Member Advisories are a service of the Hispanic Association of Colleges and Universities (HACU)