By Gregory Stevenson
Marking Public Service Recognition Week, the U.S. Department of Education announced on May 8 it has approved nearly 616,000 borrowers nationwide for approximately $42 billion in Public Service Loan Forgiveness since October 2021.
PSLF covers public employees — such as teachers, firefighters and members of law enforcement, as well as those who work for a non-profit organization — in a variety of fields by forgiving the remaining federal student loan balance for those who make the required 120 qualifying monthly payments.
In fact, PSLF is making an incredible difference for public servants in Texas.
Between October 2021 and May 2023, the Department has approved more than 39,000 borrowers in Texas for more than $2.6 billion in loan forgiveness under temporary changes the Biden-Harris Administration made to the PSLF Program. That’s nearly $68,000 per borrower.