Spread the Word about Changes to the Public Service Loan Forgiveness Program

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Spread the Word about Changes to the Public Service Loan Forgiveness Program

Last year, the Department of Education (USED) issued a Limited Time Waiver to improve the Public Service Loan Forgiveness (PSLF) program and help those who qualify get closer to forgiveness. So far, more than 70,000 individuals have already received full forgiveness due to these changes. Anyone who has federal student loans and is employed full-time by a school district qualifies for the program.

However, action may be needed in order to take advantage of the waiver before it expires on October 31, 2022. AASA has created a template for district leaders to share with their staff that explains the new changes to the program and outlines what they must do to participate.

The PSLF program provides full forgiveness to those employed in public service careers after 10 years of service and 120 qualifying payments. According to a 2021 NEA report, nearly half of all educators have student loans averaging $58,000. PSLF is a great opportunity to relieve educators of a significant financial burden and show appreciation for their service to students across the country.