The U.S. Department of Education (ED) has announced a plan for permanent improvements to the Public Service Loan Forgiveness (PSLF) program that includes a one-time payment count adjustment to bring borrowers closer to forgiveness!
In July 2023, ED will automatically apply an adjustment to IDR and PSLF payment counts to address historic inaccuracies and servicing practices. This includes borrowers with FFELP loans who consolidate into the Direct Loan Program by May 1, 2023.
THERE’S IMPORTANT NEW INFORMATION ABOUT JOINT (SPOUSAL) CONSOLIDATION LOANS, TOO.
To learn more about the planned improvements, including any actions you may need to take to gain access to these benefits, visit StudentAid.gov/PublicService or StudentAid.gov/IDRadjustment.