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Under all four plans, any remaining loan balance is forgiven if your federal student loans aren’t fully repaid at the end of the repayment period. There is no limit on how much forgiveness you receive as long as you meet the requirements.
Qualifying Repayment Plans. Qualifying repayment plans include all income-driven repayment (IDR) plans (plans that base your monthly payment on your income and household size) and the 10-year Standard Repayment Plan. The four IDR plans we offer include: Saving on a Valuable Education (SAVE) Plan—formerly the REPAYE Plan.
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The Biden-Harris Administration today is announcing that it will automatically discharge $1.2 billion in loans for nearly 153,000 borrowers who are eligible for the shortened time to forgiveness benefit under President Biden’s Saving on a Valuable Education (SAVE) Plan.
Today’s announcement brings the total loan forgiveness approved by the Biden-Harris Administration to $167 billion for 4.75 million Americans. Thanks to this Administration’s efforts more than one out of every 10 federal student loan borrowers has now been approved for some debt relief.
The Department of Education has announced time-limited changes to PSLF that provide an easier path to forgiveness of all outstanding debt for eligible federal student loan borrowers who...
October 3, 2024 4:46 PM EDT. N ow that a federal judge has ruled that the Biden Administration can proceed with its student loan forgiveness program, lifting a temporary restraining order that had ...
Today, President Biden announced the approval of $1.2 billion in student debt cancellation for almost 153,000 borrowers currently enrolled in the Saving on a Valuable Education (SAVE)...
Starting in 2024, payments on undergraduate federal student loans will be cut in half to 5%, rather than 10%, of your discretionary income. Faster path to loan forgiveness.
Find out more about Public Service Loan Forgiveness (PSLF) and Temporary Expanded Public Service Loan Forgiveness (TEPSLF) at StudentAid.gov/publicservice. To be considered for PSLF, you only need to submit a PSLF form.