Federal loan forgiveness program provides relief of student debt for essential workers

Through Oct. 31, 2022, the federal Public Service Loan Forgiveness (PSLF) program is available for healthcare and frontline workers, teachers, administrative employees, and other community servants doing essential work for the United States. A federal PSLF waiver provides access to student loan forgiveness.

“Unraveling student loan complexities to help borrowers succeed is part of what we do,” Beth Erickson, Ascendium Vice President of Repayment Solutions, said in a press release. “We can’t emphasize enough how important it is to get the word out to every hospital, school district, government entity and nonprofit — this is a unique time to provide employees with student loan guidance to access a benefit that could make such a huge difference in their lives.”

Ascendium offered student loan support, free of charge for a year, in partnership with longtime partner United Way of Dane County, Wisconsin. This partnership provides access to one-to-one counseling, online resources and optional webinars to help individuals apply for student loan forgiveness.

The most recent average PSLF forgiveness amount is $66,260, according to the U.S. Department of Education.

“As a borrower myself, I have to admit that student loans are confusing, and it seems like things are changing all of the time,” Ashley Manthei, United Way of Dane County Director of Communications, said in the press release. “Providing employees with Ascendium’s student loan expertise means they can help to not only access the waiver but maneuver through whatever the next student loan challenge will be. We’re so grateful for this partnership.”

Ascendium, the nation’s largest student loan guarantor and a leading education philanthropy, provides other services.

“Ascendium’s mission is to champion opportunity for learners from all backgrounds. We hope that by providing our student loan expertise to those doing essential work in the community where our employees live and work, it will strengthen us all,” Ascendium President & CEO Richard D. George said.