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Student Loan Forgiveness Update from the National Council of Nonprofits (Due Oct 31)
There are two separate programs designed to reduce the student loan burden, but confusion abounds because most news reports lump them into one story. Nonprofit employers are urged to inform your staff about these important but temporary opportunities:
The first program is the longstanding, formal Public Service Loan Forgiveness (PSLF) program that can provide relief to nonprofit employees and others in public service jobs. Under a special expanded window of opportunity that expires October 31, borrowers may be eligible to receive credit for payments that previously did not qualify for PSLF.
The second program – the debt cancellation plan – which has received the most attention because it’s available to almost everyone with federal student loans – would cancel up to $10,000 (or $20,000 for some people) of federal student loan debt. Applications are expected to be available starting this month.
PSLF Waiver Expiring Soon - Check Your Status NOW! The…