CHARLOTTE, N.C. — The Department of Education will temporarily stop processing student loan forgiveness for many borrowers while it transitions the Public Service Loan Forgiveness program to a new platform, according to Forbes.
The PSLF program wipes out federal student debt for borrowers in as little as 10 years as long as they work in government or nonprofit jobs. Applications for the program will stop being processed as early as next week.
Borrowers affected by this temporary pause should follow these steps, according to experts:
First, visit this website and see if you're covered for loan forgiveness. Even though applications aren't being processed, your work will already be done once the program restarts in July.
WCNC Charlotte is always asking "where's the money?" If you need help, reach out to WCNC Charlotte by emailing money@wcnc.com.
Next, even if you know you're covered, your servicer could change. Pay attention to who you're paying through the rest of the year in case your loan changes hands during this transition period.
And finally, download any PSLF forms as soon as possible. It's always good to have digital and physical copies of this critical paperwork in case there's a problem with your account. The transition period starts on May 1.
Contact Kia Murray at kmurray@wcnc.com and follow her on Facebook, X and Instagram.
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