The Education Department said it has canceled $6.8 billion in student debt for more than 113,000 borrowers working in public service jobs, such as teaching, the military or nonprofits.
, such as careers in teaching, government organizations including the military, or nonprofit groups. Qualifying for the program is based on the employer, rather than the specific job.
Under the new temporary changes, borrowers who have worked 10 years in a qualifying job will be eligible for loan relief no matter what kind of federal loan or repayment plan they have — through October 2022. When it was announced, the department estimated that more than 550,000 borrowers would benefit from the temporary changes. , an editor with Lending Tree's Student Loan Hero blog, previously told FOX Television Stations that regardless of your student loan situation, it's worth taking a look at your account and seeing if these new changes may apply.
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