- United States
- Mich.
- Letter
The mandatory forbearance for borrowers enrolled in the Saving on a Valuable Education (SAVE) plan is an unfortunate setback that will prevent progress toward Public Service Loan Forgiveness (PSLF) or Income-Driven Repayment (IDR) forgiveness for the duration of the forbearance period. However, this situation presents an opportunity to provide relief to public service workers and lower-income borrowers by counting the months spent in this court-ordered forbearance as eligible payments toward PSLF or reducing the total number of required payments for forgiveness under these programs. Many borrowers have dutifully made payments for years while serving their communities, only to have their journey toward debt relief abruptly halted through no fault of their own. Allowing this forbearance period to count toward PSLF eligibility, or decreasing the overall payment threshold, would recognize the financial hardship faced by these dedicated public servants and provide a much-needed lifeline as they continue working to secure a debt-free future. The SAVE plan aimed to ease the burden of unmanageable student loan debt, a burden that disproportionately affects lower-income individuals and families. By extending this same relief to PSLF and IDR borrowers caught in legal limbo, the Department can uphold its commitment to making higher education more accessible and affordable for all Americans. A small adjustment could make a significant difference in the lives of those striving to give back to their communities while responsibly managing their loan obligations.