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A New Federal Student Loan Program Will Move Millions Toward Forgiveness



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Borrowers with one-time payment adjustments that make them eligible for automatic loan forgiveness through the Public Service Loan Forgiveness program are being notified first, the spokesman said. After adjusting those accounts, the department expects to next adjust accounts for borrowers eligible for forgiveness under income-driven repayment rules. The federal aid office has said adjustments will occur this summer.“Borrowers eligible for forgiveness will continue to receive discharges as they reach the required months of payments,” he said, “and will not be put back into repayment.”Ashley Harrington, a senior adviser in the Federal Student Aid office, asked borrowers to be patient, and she suggested checking the government’s income-driven repayment we …

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