Some student-loan borrowers are losing credits toward a key loan forgiveness program.
The Department of Education confirmed that it is adjusting its count of completed payments downwards for some borrowers pursuing Public Service Loan Forgiveness, which forgives student debt for government and nonprofit workers after 10 years of qualifying payments.
This means that those borrowers now have a longer path to achieving debt relief through PSLF, after losing some qualifying payments through this adjustment.
Politico first reported that the Education Department is rolling back credits the Biden administration granted to borrowers who experienced account mismanagement by their servicers.
A department spokesperson said that the Federal Student Aid office “identified multiple...
Read the full article here
