Private student loans amount for about $170 billion of our nation’s student loan debt. Many students have to resort to private student loans in situations where they have exhausted their federally approved funding or flat out don’t qualify for additional federal student aid.
i seen this on an article. “PSLF Waiver Offers Way to Get Closer to Loan Forgiveness on Oct. 6, 2021, the U.S. Department of Education (ED) announced a change to Public Service Loan Forgiveness (PSLF) program rules for a limited time as a result of the COVID-19 national emergency. Throughout the pandemic, ED has provided a variety of benefits to borrowers.
Now, for a limited period of time, borrowers may receive credit for past periods of repayment that would otherwise not qualify for PSLF.”
reading today and its true. As long as you consolidate into the Direct Loan Program by Oct. 31, 2022, you can get credit for these federal student loans:
Federal Family Education Loan (FFEL) loans, subsidized and unsubsidized loans,to undergraduate and graduate students
Federal Perkins Loans
Direct Loan Program Loans, including subsidized and unsubsidized loans,
Payments made on Parent PLUS Loans are not eligible for credit under the limited PSLF waiver, even if you consolidate them into a new Direct Consolidation Loan by Oct. 31, 2022. However, if you consolidate (or previously consolidated) a Parent PLUS loan, the consolidation loan may be eligible for credit towards PSLF.
i need student loan forgiveness period!