Last year, the Biden Administration temporarily expanded eligibility for the federal PSLF program – but borrowers must apply for a waiver by Oct. 31. (This waiver is separate from the one-time student loan forgiveness plan President Biden announced in August.)
The PSLF program cancels any remaining federal student loan debt for eligible government and nonprofit workers, including many teachers, after they have made 120 qualifying monthly payments. While some federal loans and payment plans did not qualify under earlier PSLF rules, under the waiver all payments are eligible.
Eligible borrowers may be required to consolidate their debt by Oct. 31 in addition to submitting a PSLF waiver application.