Public Service Loan Forgiveness Program
On Oct. 6, 2021, the U.S. Department of Education (ED) announced a change to Public Service Loan Forgiveness (PSLF) program rules for a limited time as a result of the COVID-19 emergency.
Some of the changes include credit for payments on Direct, FFEL, or Perkins, loans; credit for payments made under plans not initially authorized; and forgiveness even if not employed by qualifying employer at the time of application and forgiveness.
These changes are effective through October 31, 2022.
Student Loan Payment Pause
On April 6, 2022, the U.S. Department of Education (ED) again extended the student payment pause through August 31, 2022.
The pause provides relief on eligible loans including suspension or loan payments, 0 percent interest rate, and stopped collections on defaulted loans.
If a borrower’s loans are eligible, the ED will automatically pause their loan payments and set their interest rate to 0 percent. To determine which loans are eligible visit Federal Student Aid.