In a letter dated November 8, 2021, Richard Cordray, the Chief Operating Officer for Federal Student Aid announced the big changes to the Public Service Loan Forgiveness Program. In general, the program will add months or even years of credit to student loan borrowers by counting payments that had once been ineligible. He wanted to make clear this process is complex and will take some time to process and carry out. Over the next several months, FedLoan Servicing will be hard at work updating students’ accounts – over 1 million accounts. The letter is available to read at this site: Public Service Loan Forgiveness
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