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Subcommittee on Labor, Health and Human Services, and Education on June 7, 2022, on Capitol Hill in Washington, DC. The Biden administration has launched a new tool to help borrowers determine whether they may qualify for forgiveness based on their public service jobs. The new tool arrives just as a key loan forgiveness expansion is about to expire.The Public Service Loan Forgiveness program can provide federal student loan forgiveness for borrowers who devote 10 or more years of their career to public service work.
. The administration went even further last April, allowing even more past loan periods to count towards PSLF. Taken together, these changes have dramatically expanded want can count as a “qualifying payment” towards student loan forgiveness under PSLF to include most past periods of repayment, as well as some past periods of deferment and forbearance. The changes are temporary, however, and the Limited PSLF Waiver is set to end on October 31, 2022.
Largely unchanged are the employment requirements for PSLF. Qualifying employment, for purposes of PSLF, means full-time, W-2 employment for a domestic public entity or a 501 nonprofit organization, or part-time for multiple qualifying PSLF organizations if your combined hours are at least 30 hours per week.
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