Eligible Veterans, active-duty service members and others can erase their student loans through the Public Service Loan Forgiveness program.
The program removes the burden of student debt on public servants, making it possible for many borrowers to stay in their jobs, and entices others to work in high-need fields.
The Department of Education will allow months spent on active duty to count toward PSLF, even if the service member’s loans were on a deferment or forbearance rather than in active repayment. This change addresses one major challenge service members face in accessing PSLF.
Service members on active duty can qualify for student loan deferments and forbearances that help them through periods in which service inhibits their ability to make payments. But, too often, members of the military find out that those same deferments or forbearances granted while they served our country did not count toward PSLF.
This change ensures that members of the military will not need to focus on their student loans while serving our country.
Learn more: https://news.va.gov/107245/public-service-loan-forgiveness-oct-31-2022/