Student Loan Forgiveness Will Surge This Month, Suggests Education Department

The Education Department indicated this week that student loan forgiveness approvals may surge during the second half of March, providing some much-needed good news for borrowers.

The announcement was buried in status update the department filed earlier this week providing new information on student loan forgiveness processing under income-driven repayment plans and Public Service Loan Forgiveness. IDR plans allow borrowers to discharge their federal student loans after 20 or 25 years in repayment, while PSLF can shorten the timeline to as little as 10 years for borrowers who work full-time in qualifying nonprofit or public employment...