Some borrowers will need to take other steps to benefit from the program. Borrowers with commercially-held FFEL loans would need to consolidate their loans via the federal Direct consolidation program before the end of the year. Other borrowers may also want to consider Direct loan consolidation to.
For borrowers who have already certified their employment, the Biden administration is automatically updating PSLF payment counts to include past periods of repayment, deferment, and forbearance that might not have otherwise counted. Over 450,000 borrowers haveThe Biden administration is extending many of the benefits of the Limited PSLF Waiver through the IDR Account Adjustment.
initiative in history, with $6 billion in discharges for over half a million former students of Corinthian Colleges. Corinthian Colleges was a chain of for-profit campuses which collapsed in 2015. While the relief is being implemented under the Borrower Defense to Repayment program, which is a student loan discharge program for borrowers who were defrauded by their schools, the Education Department is providing the relief automatically, even for borrowers who did not submit a formal application.