More Than 11,000 Student Loan Borrowers In Indiana Approved For Public Service Loan Forgiveness

PSLF highlighted as Public Service Recognition Week begins.

Today, to mark Public Service Recognition Week, the U.S. Department of Education (Department) announced it has approved nearly 616,000 borrowers nationwide for approximately $42 billion in Public Service Loan Forgiveness (PSLF) since October 2021.

PSLF covers public employees—such as teachers, firefighters, and members of law enforcement, as well as those who work for a non-profit organization—in a variety of fields by forgiving the remaining federal student loan balance for those who make the required 120 qualifying monthly payments.

In fact, PSLF is making an incredible difference for public servants in Indiana:

Between October 2021 and May 2023, the Department has approved more than 11,000 borrowers in Indiana for more than $717 million in loan forgiveness under temporary changes the Biden-Harris Administration made to the PSLF Program. That’s more than $64,000 per borrower!

While hundreds of thousands of Indiana borrowers already have benefited from PSLF, more will benefit as the program continues.

Public Service Recognition Week celebrates individuals who serve the United States and local communities as employees of federal, state, local, or tribal government.

Recent Improvements to the PSLF Application Process

• In addition to record approvals, the Department is also announcing that for the first time, borrowers can now sign and submit their PSLF forms digitally and closely track their status through the process.
• These significant changes to the PSLF application process create a faster, more straightforward, and more transparent process for borrowers.
• The changes also improve the experience for public service employers, who now can confirm a borrower’s employment digitally via DocuSign.