HARRISBURG, Pa. — Nearly $1.8 billion has been forgiven for Pennsylvanians with student loans, according to the U.S. Department of Education.
On Monday, to mark Public Service Recognition Week, the department announced that it has approved nearly 616,000 borrowers nationwide for approximately $42 billion in Public Service Loan Forgiveness (PSLF) since October 2021.
PSLF covers public employees such as teachers, firefighters and members of law enforcement, as well as those who work for non-profit organizations, in a variety of fields by forgiving the remaining federal student loan balance for those who make the required 120 qualifying monthly payments.
According to the Department of Education, between October 2021 and May 2023, nearly 27,400 borrowers in Pennsylvania have been approved for more than $1.8 billion in loan forgiveness under temporary changes the Biden-Harris administration made to the PSLF Program.
That's nearly $67,000 per borrower.
“Since day one, the Biden-Harris Administration has worked relentlessly to fix a broken student loan system, including by making sure we fulfill the promise of Public Service Loan Forgiveness for those who have spent a decade or more serving our communities and our country,” said U.S. Secretary of Education Miguel Cardona.
The difference that Public Service Loan Forgiveness is making in the lives of hundreds of thousands of Americans reminds us why we must continue doing everything we can to fight for borrowers," he continued.
In addition to record approvals, the Department is also announcing that for the first time, borrowers can now sign and submit their PSLF forms digitally and closely track their status through the process.
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