Limited Waiver of Public Service Loans Expected to Help Over 550,000 People | New
NASHVILLE, TN (WSMV) – The U.S. Department of Education has announced a change to the civil service loan forgiveness program as the Biden administration works to ease student loan forgiveness.
Throughout the pandemic, the Education Department has made adjustments and provided benefits to borrowers, and now is another step to help fight lending. The Public Service Loan Forgiveness Program was established in 2007 for the benefit of teachers, military personnel and other public service workers.
But the demands were too high for some, especially educators.
“Many teachers have told us that just figuring out how to ask for the civil service loan to be canceled is quite a job in itself. So making it a (better) process is a good thing, ”said Sara Duran, Organizing Director for the Metropolitan Nashville Education Association.
Under recent changes announced by the Department of Education, 22,000 borrowers with consolidated loans will now be eligible for a $ 1.74 billion rebate. Duran says this is a positive step forward, but believes more could be done.
“The reality is that there are 3.2 million teachers in this country and the relaxation of these rules will only really apply to less than 50,000 teachers… and of course, teachers are not the ones. only public service workers, ”said Duran.