Ahead of Oct. 31 deadline, spread the word on Public Service Loan Forgiveness
MEA President Paula Herbart used a column in Bridge Michigan to further urge educators to take advantage of temporary rule changes to the federal Public Service Loan Forgiveness (PSLF) program before the waiver expires on Oct. 31.
“Michigan educators are often saddled with tens of thousands or more in student debt, leaving many of them financially hamstrung due to inadequate pay, mounting debts, expensive continuing certification requirements and more,” she writes.
MEA has been helping guide members through the PSLF application process for months. Go to mea.org/studentdebt for video demonstrations, articles and more to learn how to take advantage of the critical savings this program provides.
“The problem of student debt among educators is huge,” Herbart points out in the column. “A report issued last year by the NEA showed the devastating impact the student debt crisis is having on educators, including delaying major purchases, delaying starting a family, leaving the profession or failing to even consider it in the first place.”
Studies show younger educators and educators of color carry more student debt and are disproportionately impacted by it.
Herbart concludes: “We are urging educators and other public service workers with student debt to apply for the PSLF program immediately, before the expanded benefits run out on Oct. 31. Even if you don’t think you’re eligible, you might be surprised.”