U.S. Department of Education Leaders to Join New Jersey Governor Phil Murphy, Public Service Employees, Students to Discuss Public Service Loan Forgiveness

On Monday, U.S. Under Secretary of Education James Kvaal and Federal Student Aid Chief Operating Officer Rich Cordray will join New Jersey Governor Phil Murphy for a roundtable discussion about the Public Service Loan Forgiveness (PSLF) Program, at The College of New Jersey (TCNJ). The discussion will highlight actions taken by the federal government to support public service workers in achieving loan forgiveness.Additional participants joining the discussion include TCNJ undergraduate students, public service employees, and borrowers who have received forgiveness through PSLF. Last October, the Department announced a limited PSLF waiver opportunity, which temporarily waives certain program rules to better deliver on the PSLF promise to public service employees with federal student loans. To date, the Department has approved more than $7.3 billion in discharges for nearly 130,000 borrowers through the limited PSLF waiver, with an average discharge balance of more than $57,000 per borrower.While nearly 130,000 borrowers have been approved for loan forgiveness, many others have seen increases in their progress toward loan forgiveness through updated payment counts. To take advantage of the temporary flexibilities under the limited PSLF waiver, borrowers must apply for PSLF by October 31, 2022.

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