ACE is partnering with the Department of Education (ED) for this one-hour webinar on July 12 at 2:00 p.m. EDT that will help attendees learn more about the temporary changes to the PSLF program and how those changes will enable many more people to have their student loans forgiven.
Ashley Harrington, a senior advisor to the chief operating officer at ED’s Office of Federal Student Aid, will detail how these changes expand the benefit to more nonprofit employees and could help numerous college and university employees, students, alumni, and their families. Participants will have the opportunity to ask questions during the webinar.
In October 2021, ED announced a yearlong change to the PSLF program rules in which borrowers could receive credit for past periods of repayment that would otherwise not qualify. Among the many benefits, the waiver eases some requirements so that eligible borrowers can have any prior period of repayment qualify, regardless of loan program, repayment plan, or whether the payment was made in full or on time.
More information on the waiver, which is set to expire on Oct. 31, 2022, can be found here.
The PSLF program, established in 2007, forgives the remaining balance on a qualifying borrower’s eligible loans after they have made 120 qualifying monthly payments under a qualifying repayment plan while working full time for a qualifying employer. The Student Borrower Protection Center estimates that over 9 million public service workers are eligible for the program, yet fewer than 150,000 have had debts cancelled under it.
The July 12 webinar will be open to the public. Click here to register.