August 17, 2022 12:00 AM
A number of changes are coming for borrowers pursuing public service loan forgiveness – which allows nonprofit and government employees, including educators, to have their federal student loans canceled after 10 years, or 120 payments.
According to the U.S. Department of Education, twenty-two percent of potential Public Service Loan Forgiveness recipients are teachers, making them the single largest occupational group eligible for waivers. Overall, teachers could expect substantial debt relief, with overall balances falling to $22.4 billion from an estimated $55.1 billion. Individual eligible teachers could expect to receive an average of about $38,151 in relief.
Although this program would greatly benefit educators, only a small number of educators has applied for the service. AEA, through its Education Policy and Professional Practice (EPPP) Department, has partnered with NEA Member Benefits to offer three sessions on the topic of utilizing the Student Loan Debt Navigator powered by Savi.
Registration is FREE for AEA members and will be offered on the following dates:
For more information, please contact August Haygood at firstname.lastname@example.org.