WASHINGTON, Oct. 6 (Xinhua) -- The U.S. Department of Education on Wednesday announced an overhaul to a federal student loan forgiveness program that will ease the debt burden of as many as 550,000 borrowers who work in government agencies or the nonprofit sectors. Known as the Public Serv...
“Borrowers who devote a decade of their lives to public service should be able to rely on the promise of Public Service Loan Forgiveness,” said Education Secretary Miguel Cardona in a statement Wednesday. “The system has not delivered on that promise to date, but that is about to change ...
It's still unclear what the Biden administration intends to do in terms of broader student loan forgiveness, but appointing a student debt expert with the credentials of Merrill may signal a step toward canceling student debt. In January 2020, Merrillco-signed a letterto then-presidential candida...
The U.S. Department of Education on Friday launched a beta test of itsstudent debt relief application website. About 95% of Americans with student debt are expected to qualify for loan forgiveness under the Biden administration's plan. Thebeta sitewill be available "on and off" until the...
98% OF PUBLIC SERVICE LOAN FORGIVENESS APPLICATIONS REJECTED The6 million student loan borrowerswhose federal loans are serviced by Navient will eventually be transferred to a new servicer, Maximus, subject to the Education Department's approval, Navient said prior to its contract renewal. But Navien...
During the beta test, borrowers will be able to submit an application for student loan forgiveness. Those will be processed once the site officially launches. A preview of the application earlier this week suggested a full rollout could come as soon as ...
98% OF PUBLIC SERVICE LOAN FORGIVENESS APPLICATIONS REJECTED The 6 million student loan borrowers whose federal loans are serviced by Navient will eventually be transferred to a new servicer, Maximus, subject to the Education Department's approval, Navient said prior to its contract renewal. ...
The Education Dept. under the new Biden administration has approved the loan forgiveness requests of 18,000 students defrauded by the ITT Technical Institute. Through several decades, the for-profit institute founded in 1969 in Carmel, Indiana grew into
Student loan default could become a reality for millions of borrowers if President Joe Biden’s student loan forgiveness plan doesn't come to fruition, according to a Department of Education official. "Unless the [Education] Department is allowed to provide debt relief, we anticipate there could ...
aspects of the process through interactive tools such as a Public Service Loan Forgiveness online help tool and a Loan Simulator, which Megan Coval, vice president of policy and federal regulations for the National Association of Student Financial Aid Administrators, called “a victory for students....