Boyle Leads Bipartisan Effort Supporting the PSLF Program Amid Coronavirus Response
PHILADELPHIA, PA – Today, Reps. Brendan F. Boyle (PA-02), Brian Fitzpatrick (PA-01), and Katie Porter (CA-45) sent a bipartisan letter, with the support of 19 lawmakers, to the Department of Education pressing on their lack of communication with loan borrowers despite new regulations in response to the ongoing public health emergency.
“This crisis should not affect anyone’s ability to pay off their student loans,” said Congressman Boyle. “At a time when our livelihoods are disrupted and major regulatory changes are happening, it is essential for the Department of Education to communicate to borrowers on the new loan payment delays and provide clear guidance on the impact of these changes. The Department has a history of poor communication on the Public Service Loan Forgiveness (PSLF) program. Now is not the time for this.
As the founder and co-chair of the PSLF Caucus, I am appalled that the Department of Education has still not clearly communicated to borrowers that the new regulation will not impact anyone’s eligibility for loan forgiveness under this program. This should be widely promoted so that those who rely on PSLF, including our public health nurses, first responders, and other public servants on the frontlines of this national emergency, are aware of this.”
The CARES Act provides all federal student loan borrowers relief by automatically suspending monthly payments and eliminating interest accrual through September 30, 2020. The suspension of payments does not affect PSLF eligibility, which requires 120 monthly payments before loan forgiveness. Each suspended payment will be considered as a qualifying payment for PSLF given it meets the program’s other requirements.
The full letter can be viewed here.