$34B in Student Loan Debt Forgiveness: Who's Had Their Student Loans Canceled?

Students included in loan forgiveness willnotneed to file borrower defense claims – they’ll receive the debt cancellation automatically.

The PSLF program cancels the remaining balance on a student loan after the borrower makes 120 qualifying monthly payments.

However, to receive this relief, borrowers need to submit aPSLF applicationbyOct.

About 264,000 borrowers sued the agency, saying it illegally delayed action on longstanding defense claims.

A hearing for a final approval of the settlement has been set for Nov. 3.

However, it’s not too late for students of the151 collegesto make a borrower defense claim.

All claims submitted before the final approval of the settlement – expected to beNov.

You do not need to file another claim, however.

For more on student loans, learn whyyou might want to keep making paymentseven though student loans are paused.

And find out whether or not you shouldrefinance your student loans as rates are rising.