Time is running out to apply for service loan forgiveness

Meredith Willse
York Dispatch

If you haven’t applied yet to the Public Service Loan Forgiveness, you better hurry.

The deadline is Oct. 31. 

This is different than the one-time student loan debt relief, which forgives up to $20,000 and is applicable to loan balances before June 30. These applications are due by Dec. 31, 2023. For more information go here.

Public Service Loan Forgiveness is only for people who work in public service for the government, from local to federal, or nonprofit organizations. Government employers include tribal government, Peace Corps, AmeriCorps and public schools and colleges. Employees of government contractors are not eligible. 

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The program could forgive the rest of the balance as long as the applicant made 120 separate monthly payments while working full time. Paying extra will not make the applicant eligible. It is applicable to direct loan programs that are not in default. 

Private education and default direct loans are not eligible. The defaulted loans could become eligible if the applicant resolves the default status.  

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Applicants can only complete this in one session, but most can complete it in under 30 minutes.

For more information go to here.  

 The White House also provides information here as well as a questionnaire to help find out if the applicant is eligible. 

— Reach Meredith Willse at mwillse@yorkdispatch.com or on Twitter at @MeredithWillse.

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