The Department of Education is conducting public hearings to gather input on refining the Public Service Loan Forgiveness (PSLF) program and income-driven repayment plans. This initiative follows President Trump's executive order to limit PSLF eligibility. The hearings, scheduled for April 29 and May 1, aim to streamline existing regulations, which include redefining qualifying employers for PSLF and revising income-driven repayment plans that cap monthly payments based on discretionary income. The process is part of a mandated rulemaking effort to enhance federal student aid programs.
Acting Under Secretary James Bergeron stated, 'Not only will this rulemaking serve as an opportunity to identify and cut unnecessary red tape, but it will allow key stakeholders to offer suggestions to streamline and improve federal student aid programs.'
The Department of Education's draft document on the Federal Register outlines its intent to examine eligibility for PSLF, which forgives student debt for government and nonprofit workers after 10 years.
#student-debt-relief #public-service-loan-forgiveness #income-driven-repayment-plans #department-of-education #federal-regulations
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