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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.
And who will pay for this loan forgiveness?
Why is this loan forgiveness issue still a part of the USAA Community issues; the deadline of October 31, 2022, for submitting applications has passed? AND WHO WAS GOING TO PAY FOR THIS LOAN FORGIVENESS PROGRAM?
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