Individuals employed by a US federal, state, local or tribal government or not-for-profit organization, you might be eligible for student loan forgiveness and cancellation opportunities. There are an estimated 154,000 public servants in Michigan who may be eligible for student loan debt relief.
The Biden administration is offering a temporary waiver to allow previously ineligible borrowers a second chance at student debt relief through the Public Service Loan Forgiveness (PSLF) program. You must apply for this waiver by October 31, 2022. NMC qualifies as an eligible employer for purposes of this program. Every public servant with student loans should check to see if they qualify for PSLF debt relief by visiting the Federal Student Aid website.
On August 24, 2022, separate from the PSLF waiver described above, the Biden Administration announced a one-time cancellation of debt for eligible borrowers in the amount of $10,000 (if borrower did not receive Pell) to $20,000 (if borrower received Pell). The Department of Education is still developing the application process for this program, which is expected to be released in October. Borrowers should visit and monitor the following link for more information on this debt cancellation opportunity: One-Time Student Loan Debt Relief. Borrowers have until Oct 31, 2022 to apply.