Over 350,000 of Virginians could be eligible for Public Service Loan Forgiveness

Posted at 12:20 PM, Feb 15, 2022
and last updated 2022-02-15 12:20:05-05

VIRGINIA - Changes to the Public Service Loan Forgiveness (PSLF) program were announced in fall of 2021 to make it more accessible to federal student loan borrowers, and those changes made a third of Virginians eligible for the program.

According to the Department of Education, the limited waiver could potentially help more than 550,000 borrowers that already consolidated their loans in their progress toward forgiveness and grant the average borrower an additional 23 payments toward their total requirement of 120 payments.

Data provided by a PSLF study at Student Loan Hero shows that approximately 350,235 of its 1,059,400 federal student loan borrowers are potentially eligible for public service loan forgiveness.

That total number of potentially eligible borrowers includes: 93,154 Nonprofit, charitable or tax-exempt organizations employees, 88,510 local government employees, 48,224 state government employees, 120,347 federal government employees.