“To date, the Biden-Harris team has kept that promise for more than 615,000 teachers, nurses, social workers, servicemembers, and other public servants by approving a combined $42 billion in student loan debt forgiveness. “Since Day One, the Biden-Harris Administration has worked relentlessly to fix a broken student loan system, including by making sure we fulfill the promise of Public Service Loan Forgiveness for those who have spent a decade or more serving our communities and our country,” said U.S. This upgrade is in addition to the Biden-Harris Administration's long-term improvements to the PSLF program, slated to take effect in July 2023, which will provide lasting benefits for borrowers. In addition, borrowers can now digitally track the status of their PSLF form in the My Activity section of their account, where they can see updates such as whether their employer has digitally signed their PSLF form and when their form has been processed.
Allowing borrowers to submit e-signatures for themselves and request e-signatures from their employers will significantly decrease processing time. These updates will, for the first time, let borrowers complete the entire PSLF application process online, and borrowers will no longer need to fax or mail in their application with a wet signature. At the end of the previous Administration, only about 7,000 borrowers had been approved for the PSLF program.Īdditionally, the Department is announcing the implementation of improvements to the PSLF Help Tool, which borrowers use to apply for the program. This is a result of the temporary PSLF changes made by the Biden-Harris Administration that made it easier for borrowers to reach forgiveness. Department of Education (Department) today announced that, as of the beginning of May 2023, it has approved a total of $42 billion in Public Service Loan Forgiveness (PSLF) for more than 615,000 borrowers since October 2021. To mark Public Service Recognition Week, the U.S.
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