x
Breaking News
More () »

Certain student loan forgiveness on pause starting May 1, report says

The pause applies to student loan forgiveness for borrowers working government or nonprofit jobs.

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. 

For the latest Where’s The Money news, download the WCNC Charlotte mobile app and enable push notifications.

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. 

⏯ Subscribe to WCNC Charlotte on YouTube to be notifiedjan of new Where’s The Money videos

Contact Kia Murray at kmurray@wcnc.com and follow her on Facebook, X and Instagram.

WCNC Charlotte's Where's The Money series is all about leveling the playing field in the Carolinas by helping others and breaking down barriers. WCNC Charlotte doesn't want our viewers to be taken advantage of, so we’re here to help. Watch previous stories where we ask the question “Where’s the Money” in the YouTube playlist below and subscribe to get updated when new videos are uploaded.

Before You Leave, Check This Out