$350 Million in Student Loan Forgiveness is First-Come First-Serve
Still paying off thousands of dollars of federal student loans from Michigan State University, Grand Valley State University or another university?
The U.S. Department of Education has launched a temporary program making $350 million available for student loan forgiveness. The funds are available on a first-come, first-served basis.
See if you qualify for student loan forgiveness!
The opportunity is a temporary expansion of the Public Service Loan Forgiveness Program. It is called the Temporary Expanded Public Service Loan Forgiveness.
To qualify you must have:
- Submitted the Public Service Loan Forgiveness: Application for Forgiveness and had that application denied because some or all of the payments were not made under a qualifying repayment plan.
- Worked at least 10 years of full-time employment with a qualifying employer, certified by the employer, and approved by the Department.
- Made 120 qualifying monthly payments under the new requirements while working full-time for a qualifying employer or employers.
There are other conditions under which borrowers may become eligible for loan forgiveness if some or all of their payments made on William D. Ford Federal Direct Loan (Direct Loan) Program loans were made on a nonqualifying repayment plan for the Public Service Loan Forgiveness Program.