Student loans: Relief for public employees

There's light at the end of the tunnel for feds and other public-sector workers with student loan relief.

A wave of student loan forgiveness aimed at specifically helping public service workers is finally gaining traction, following reforms issued by the Biden administration late last year.

Indeed, according to a recent Fortune report, since last autumn approximately 100,000 publicly-minded working Americans have seen $6 billion in student loan debt erased.

Last year, the White House ordered the loosening of requirements for the Public Service Loan Forgiveness Program (PSLF), to ease the often-intense burden education loan payments places on families straining under the COVID-pandemic, inflation and economic tumult of recent years.

The PSLF was created to help those who work for the public good—in nonprofits and government, including federal employees. Workers in this sector often earn modest salaries and yet their work is integral to the health and well-being of the community and country. Hence, the program provides loan forgiveness after at least ten years of debt service is made.

The October 2021 update to the program, as intended by the administration, is aiding feds and other public service workers to succeed in getting relief—after the original, and overly complex, eligibility and application process was abandoned.

Reports out this month, such as this one in Forbes, herald even greater relief to come, detailing the administration's April 6 press briefing—and its announcement that the current COVID-era pause on student loan repayment will be extended out to Aug. 31st this year.

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