Do you qualify for student loan cancellation?
Student loan borrowers collectively will get $95 million for their federal student loans.Federal student loan borrowers who were placed in certain types of forbearance.Each eligible federal loan borrower will receive approximately $260 each and will receive a postcard in the mail from the settlement administrator later this spring.Federal student loan borrowers are encouraged to update their contact information with the U.S. Department of Education through studentaid.gov.
Federal student loan borrowers pursuing public service loan forgiveness who made prior student loan payments that were deemed ineligible under the old rules of the Public Service Loan Forgiveness program.President Joe Biden and U.S. Secretary of Education Miguel Cardona announced a major overhaul of the Public Service Loan Forgiveness program. This include making more student loan borrowers eligible for student loan forgiveness and counting prior payments that were previously ineligible.
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