On July 1, 2023, new U.S. Department of Education regulations to expand and improve some of the student debt relief programs will go into effect. The regulations expand eligibility, remove barriers to relief, and streamline a needlessly complicated system. The new rules include improvements to Public Service Loan Forgiveness (PSLF) that can be found here. The change will expand the situations in which it’s acceptable for a borrower to defer or forbear payments and still qualify for PSLF – such as AmeriCorps service. AmeriCorps members will no longer have to face the confusing choice of pausing student loan payments or getting credit toward PSLF. AmeriCorps members will be able to access all the resources available to them to pause loans during their service term and still count their months of service towards PSLF.
You can view a fact sheet with further information on the rules here. An unofficial copy of the regulations can be found here. You also may want to check out the resources from the Public Service Loan Forgiveness Coalition, including their FAQs.
Progress!
Thanks to the Voices for National Service team for keeping the community updated on these changes!