WLKM Radio 95.9 FM
Through October 31, the U.S. Department of Education is offering public servants working in government and staff in eligible non-profits a second chance to qualify for student-loan forgiveness.
This is a separate program than the broader Student Debt Relief Plan that President Joe Biden announced last week, State Superintendent Michael Rice said.
The opportunity for student-loan forgiveness is an important way that Congress enacted years ago to show appreciation toward teachers and other public servants, he added.
In 2007, Congress created the Public Service Loan Forgiveness program to recruit and retain top talent in public service. If an individual works for government or a qualifying non-profit for 10 years and makes 120 student loan repayments on a federal Direct Loan in full and on time, the federal government will consider their loans “paid in full” and forgive the remaining balance.
