The Biggest PSLF Expansion in History
Student Loan Planner · Travis Hornsby
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Show Notes
The PSLF expansion took borrowers by surprise. The Biden administration's big announcement of a total overhaul to the PSLF program is a big deal. For a variety of reasons, many borrowers counting on PSLF had payments or loans that previously did not qualify for forgiveness because they could not meet the stringent requirements. The Department of Education effectively wiped out many of the hurdles through October 2022. Listen in and find out how the PSLF expansion can potentially be a life-changing opportunity for public servant borrowers, and what this development could mean for the future of student loans as a whole.
In today's episode, you'll find out...
- Big takeaways from President Biden's Executive Order
- How to get PSLF credit for payments that didn't count before
- Why you can get PSLF credit for FFEL loan payments
- Who benefits from this expansion
- About the planned "grace period" on October 31, 2022
- The Biden administration's legal justifications for the expansion
- Which employers could become eligible under this overhaul
- Why the cost of forgiveness will dramatically rise going forward
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