I was surprised when some of my student loans were canceled. Yours might be, too
The Supreme Court struck down the Biden administration’s plan to forgive up to $20,000 of student loan debt per borrower, yet loan forgiveness is still possible for those pursuing Public Service Loan Forgiveness or income-driven repayment forgiveness
By JAE BRATTON of NerdWallet
Published - Aug 23, 2023, 07:03 AM ET
Last Updated - Aug 23, 2023, 08:45 AM EDT
In 2022, I left the teaching profession, convinced that the public service loan forgiveness (PSLF) I had been pursuing for the past 14 years was no longer a possibility. When I changed careers, I had nearly $50,000 in student loan debt.
But in 2023, my loan servicer informed me that almost $40,000 of that balance had been forgiven.
This surprising reversal happened because a limited PSLF waiver temporarily gave borrowers credit for payments toward loan forgiveness that normally wouldn’t count toward PSLF — and waived the requirement that borrowers must work in public service at the time of application and forgiveness.
The bad news: The waiver that helped me get loan forgiveness expired Oct. 31, 2022.
