Direct government loan program

These actions are informed by the more than 48, comments the Department received on a request for information on improving PSLF issued over the summer. The Department estimates that the limited waiver alone will help over , borrowers who had previously consolidated their loans see their progress toward PSLF grow automatically, with the average borrower receiving 23 additional payments.

For reference, just over 16, borrowers have ever received forgiveness under PSLF prior to this action. We anticipate that many more will also receive additional credit as we implement other changes over time, such as counting previously ineligible payments that were not affected by a loan consolidation.

Many public servants have been on the front lines of the pandemic, making personal sacrifices to keep the rest of us safe. Nonprofits are still recovering jobs lost in the last year, and some public service workers have reported they are considering leaving public service altogether. Frontline sectors like teaching and healthcare are already seeing burnout and employee shortages.

Alleviating some of the financial strain associated with student debt can help borrowers in these sectors as they continue to navigate the fallout of this pandemic.

The Department will be offering a temporary opportunity to give borrowers credit for prior payments they made that would not otherwise count toward PSLF.

Any prior payments made while working for a qualifying employer will count as a qualifying payment, regardless of loan type or repayment plan. This Limited PSLF Waiver will apply to borrowers with Direct Loans, those who have already consolidated into the Direct Loan Program, and those with other types of federal student loans who submit a consolidation application into the Direct Loan Program while the waiver is in effect. The waiver applies to loans taken out by students. The waiver will run through October 31, That means borrowers who need to consolidate will have to submit a consolidation application by that date.

Similarly, borrowers will need to submit a PSLF form—the single application used for a review of employment certification, payment counts, and processing of forgiveness—on or before October 31, to have previously ineligible payments counted.

Counting prior payments on additional types of loans will be particularly important for borrowers who have or had loans from the Federal Family Education Loan FFEL Program. Around 60 percent of borrowers who have certified employment for PSLF fall into this category. Payments prior to a Direct Loan consolidation are also covered by this waiver, so it will benefit those who consolidated their Direct Loans and lost progress toward PSLF as a result. The Department will start automatically adjusting payment counts for borrowers who have already consolidated their loans into the Direct Loan Program and certified some employment for PSLF, and those borrowers can expect to see these adjustments in their accounts in the coming months.

Borrowers who have loans from the FFEL or Federal Perkins Loan programs will also have this waiver applied automatically, but only after they have consolidated and submitted a PSLF form, and all paperwork has been processed.

The purpose of the Military Reservist Economic Injury Disaster Loan program MREIDL is to provide funds to eligible small businesses to meet its ordinary and necessary operating expenses that it could have met, but is unable to meet, because an essential employee was "called-up" to active duty in their role as a military reservist.

These loans are…. This purpose is achieved by bolstering the existing private credit structure through the guarantee of quality loans which will provide…. If you are in a declared disaster area and have experienced damage to your business, you may be eligible for financial assistance from the Small Business Administration SBA. Businesses of any size and most private nonprofit organizations may apply to the SBA for a loan to recover after a disaster.

Business Loans. Rural Housing Loans. Manufactured Home Loan Insurance. Indian Home Loan Guarantee Program. Property Improvement Loan Insurance. Home and Property Disaster Loans. Cash-Out Refinance Loan.

Home Rehabilitation Mortgage Insurance. Home Mortgage Insurance for Disaster Victims. Energy Efficient Mortgage Insurance. Loan Management. Don't see what you're looking for? Should I consolidate my federal student loans into a federal Direct Consolidation Loan? Learn more about student loans.