The deadline for two federal student loan forgiveness programs is today, Tuesday, April 30. To qualify for Income-Driven Repayment and Public Service Loan Forgiveness, borrowers need to consolidate, or refinance their loans with the federal government.
The Department of Education is reviewing every one of the more than 40 million federal student loan accounts for eligibility.
Many people who could benefit from this temporary fix still don’t realize it, according to a Marketplace report, found by clicking here.
Only direct loans — made by the Department of Education — qualify. These include commercially held Federal Family Education loans, Perkins loans, Parent Plus loans and Health Education Assistance loans.
Borrowers of both undergrad and graduate school loans may also benefit from consolidating, getting a jump on forgiveness for their loans, too.
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