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Public Service Loan Forgiveness Relief Under Review

July 28, 2022 7:21 AM | Chelsey Blakenship (Administrator)

The Department of Education published a formal notice of proposed rulemaking to address student loan forgiveness and affordability issues. The rules propose making permanent some, but not all, of the relaxed eligibility terms in the temporary Limited PSLF Waiver set to expire Oct. 31. Key provisions would allow more kinds of payments (certain types of deferment and forbearance, and payments made in advance, late, or in lump sum) to count as qualifying payments; clarifying and expanding the definitions of full-time employment and qualifying employer; and codifying the reconsideration process. The proposed regulations, if adopted, would also provide a hold-harmless option for deferment or forbearance, automate progress toward forgiveness, and eliminate prospective interest capitalization not required by statute. Public comments to the proposed rule are due on or before August 12. See this updated Comparison of Key Provisions chart from the National Council of Nonprofits to get started. 

P.O. Box 1924
Baton Rouge, LA 70821

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