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Seeking Public Service Loan Forgiveness? You could run into this pandemic roadblock

Seeking Public Service Loan Forgiveness? You could run into this pandemic roadblock By Kathryn Pomroy article Public Service Loan Forgiveness (PSLF) forgives up to 100% of the remaining balance on your federal Direct Loans after making 120 qualifying payments under a qualifying repayment plan. But to be eligible for the program, you may face a coronavirus pa Expand The nearly $1.6 trillion in student debt owed by U.S. families continues to be the largest source of (nonmortgage) debt, as noted by the Federal Reserve s recent Survey of Consumer Finances. For that reason, the Public Service Loan Forgiveness (PSLF) Program should come as welcome relief for many families impacted by COVID-19.

What is a federal Direct Loan?

What is a federal Direct Loan? Bankrate 12/23/2020 © ESB Professional/Shutterstock College student studies in library Attending college can take a toll on your finances, with most students paying upward of $20,000 annually. Students can look to scholarships, grants and work-study programs to help pay for the cost, but many students also need to explore student loans. A federal Direct Loan is a type of student loan issued by the Department of Education that both undergraduates and graduates can use to cover the cost of education. Keep reading to learn how a federal Direct Loan works and who it s best for. What is a federal Direct Loan?

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