Cancellations for these individuals are expected to total approximately $6.2 billion in federal student debt relief. Not every eligible borrowers have not yet been notified of their debt relief. They are being informed as they occur and the Ministry of Education could not provide a date when they will all have been contacted.
The Public Service Loan Forgiveness Program promises to erase remaining federal student loan debt after an eligible public service worker has made 10 years of monthly payments. It was created about 15 years ago, but a very small percentage of people who applied had been granted pardons before 2021.
“Today’s PSLF announcement means that more of our teachers, nurses, first responders, service members and many other dedicated public service workers will experience significant relief,” it said at the time. Education Secretary Miguel Cardona in a statement.
Here’s who got the eligibility
Because of the temporary waiver, it no longer matters what type of federal student loan a borrower is or what repayment plan they are enrolled in. All payments will be eligible for the Public Service Loan Forgiveness Program if the borrower was working full-time for an eligible employer.
Previously, eligibility also depended on having a direct loan and enrolling in an income-based repayment plan, which sets payments based on income and family size. Those with federal home education loans, which were provided by private lenders but backed by the government, were not eligible.
What borrowers can do now
Many borrowers do not have to do anything for the Ministry of Education to review and update their qualifying payment counts.
But those with older federal home education loans will need to consolidate them into direct loans if they have not already done so. Payments made before the consolidation will now count towards receiving the relief.
Those who already have direct loans but did not submit employment certification forms for previous repayment periods should also do so now.
Borrowers have until October 31, 2022 to make these changes in order to qualify for forgiveness under the temporary waiver.
Student loan repayments set to resume in May
White House Chief of Staff Ron Klain said last week that the Biden the administration is considering another extension of the break.
Asked about Klain’s comments at Friday’s press conference, White House Press Secretary Jen Psaki said, “This is obviously something we will continue to assess and review at the press conference. May is approaching.”
This story has been updated with additional information.
CNN’s Sam Fossum contributed to this report.