CHICAGO (WMBD)– To kick off Public Service Recognition Week, student loan borrowers from Illinois are a part of the nearly 616,000 who have been approved for $42 billion in Public Service Loan Forgiveness (PSLF).
According to a Department of Education press release, more than 23,500 Illinoisians in the public sector such as teachers and firefighters and non-profit organizers may qualify for federal student loan relief after making the required 120 qualifying monthly payments.
Between October 2021 and May 2023, the Department approved more than 23,500 borrowers in Illinois for nearly $1.6 billion in loan forgiveness under temporary changes the Biden-Harris Administration made to the PSLF Program.
U.S. Secretary of Education Miguel Cardona said, “To date, the Biden-Harris team has kept that promise for more than 615,000 teachers, nurses, social workers, service members, and other public servants by approving a combined $42 billion in student loan debt forgiveness. The difference that Public Service Loan Forgiveness is making in the lives of hundreds of thousands of Americans reminds us why we must continue doing everything we can to fight for borrowers and why families cannot afford to have progress derailed by partisan politicians. During Public Service Recognition Week—and every week—we thank all those who serve our communities.”
More information about student aid can be found here.
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May 8, 2023 at 03:44PM