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If you were a Pell Grant recipient, you may be eligible for up to a total of $20,000 in forgiveness. The only caveat is that relief is capped at the amount of outstanding student debt. For example ...
The Public Service Loan Forgiveness (PSLF) program is a United States government program that was created under the College Cost Reduction and Access Act of 2007 signed into law by President George W. Bush to provide indebted professionals a way out of their federal student loan debt burden by working full-time in public service. [1]
Student Loan Forgiveness: Mark These 4 Dates On Your Calendar Now ... (FFEL) program loans held by ED, Perkins loans held by ED, and defaulted loans, according to studentaid.gov.
In the summer of 2023, the Supreme Court ruled to strike down Biden’s student loan forgiveness program, which would have canceled up to $20,000 of debt for roughly 43 million eligible borrowers.
In August 2022, the administration used the Act again to announce student debt cancellation of up to $20,000 and several other reforms. Following litigation brought by several Republican-led state governments, the Supreme Court ruled in Biden v. Nebraska (2023) that the statute did not permit the administration's debt forgiveness program.
The William D. Ford Federal Direct Loan Program (also called FDLP, FDSLP, and Direct Loan Program) provides "low-interest loans for students and parents to help pay for the cost of a student's education after high school. The lender is the U.S. Department of Education ... rather than a bank or other financial institution." [1]
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