The Education Department has publicly confirmed that it is reversing some student loan forgiveness credit borrowers had received toward Public Service Loan Forgiveness. The admission follows mass confusion last week as borrowers began reporting that their qualifying payment counts for the PSLF program had suddenly dropped, pushing them further away from being eligible to discharge their student loans.
PSLF is a popular program that allows borrowers to qualify for student loan forgiveness after 120 “qualifying payments,” which is the equivalent of 10 years. Payments must be made on Direct federal student loans under specific repayment plans…
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