Public Service Loan Forgiveness Deadline Looms – Don’t Miss Out!

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Written by JJ Montanaro

Last October, the Department of Education announced changes allowing servicemembers to receive forgiveness for payments that were not previously eligible.

 

The catch, borrowers must apply and may be required to consolidate Perkins or Federal Family Education Loans (FFEL) into Direct Consolidation Loans before submitting their Public Service Loan Forgiveness (PSLF) application. The deadline for applications is October 31, 2022.

 

Want to learn more? Here are some helpful resources:

 

Department of Education PSLF Waiver Announcement

Consumer Financial Protection Bureau Blog on Topic

Update from Federal Student Aid COO

Questions? Let us know in the comments!

 

 

About the Blogger: JJ Montanaro is a Certified Financial Planner® professional and part of the Military Affairs team at USAA. He’s a graduate of the U.S. Military Academy and has over 20 years of financial planning experience. 

 

NC0822

1 Comment
John Sowers
Contributor

And who will pay for this loan forgiveness?