Washington (August 23, 2022) — Senator Edward J. Markey (D-Mass.) joined his colleagues led by Senators Bob Menendez (D-N.J.), Patty Murray (D-Wash.), Chair of the Senate HELP Committee, Tim Kaine (D-Va.), and Kirsten Gillibrand (D-N.Y.), alongside U.S. Representatives John Sarbanes (D-Md.-03), Joe Courtney (D-Conn.-02), Jahana Hayes (D-Conn.-05), and Kathy Manning (D-N.C.-06), in urging Secretary of Education Miguel Cardona to extend the Public Service Loan Forgiveness (PSLF) waiver deadline until at least July 1, 2023, when the Department’s proposed rules to improve and expand federal student debt relief programs, including PSLF, are currently on track to take effect.
Extending the waiver would help ensure more public servants are able to benefit from the historic waiver that has already resulted in over $9 billion in forgiveness for more than 146,000 public servants and more than 1 million borrowers receiving, on average, one additional year of credit toward PSLF. The extension would also help the agency minimize confusion among borrowers while it conducts a one-time account adjustment later this year and finalizes its proposed PSLF rule.
“The PSLF waiver announced by the Department last October was designed to ‘overhaul’ the PSLF program and ‘make it live up to its promise’ by allowing ‘all payments by student borrowers to count toward PSLF, regardless of loan program or payment plan,’” wrote the lawmakers to Secretary Cardona. “To date, the waiver has been...
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