Read newsletter as a PDF here. 

Dear neighbor, 

Many people in our communities and across the country have student loans - you might as well! Since 2020 federal student loan payments have been paused in an effort to help mitigate the impact of COVID-19 and the pandemic on the cost of living. Throughout the past two years people have called for student loans to be forgiven as well. Student loan debt is a burden that many of us carry and I am committed to getting student loans canceled across the board. Please read below for more information that may help you navigate these challenging times. 

When will student loan payments resume? 

Today President Biden extended  the pause on student loans to December 31, 2022, payments will resume in January of 2023. 

Do I qualify for student loan forgiveness and if so much?

Today President Biden also announced that student loans for some individuals will be forgiven. Specifically: 

• Up to $20,000 in debt will be canceled for Pell Grant recipients and up to $10,000 in debt will be canceled for non-Pell Grant recipients. Borrowers who earn less than $125,000 per year or households earning less than $250,000 are eligible to have their student loans canceled. 

• How to receive the loan forgiveness: 

• The U.S. Department of Education will automatically provide relief to borrowers who are eligible 

• In the next few weeks the U.S. Department of Education will launch a simple application to verify your income data which will help identify if you qualify for debt relief. If you are unsure if the DoE has your income data submit an application to verify your income before December 31, 2022 

• If you would like to be notified by the U.S. Department of Education when the application is open, please sign up at the Department of Education subscription page.

• For more information about student loan forgiveness please click here 

What repayment options are available?

President Biden announced that student loan payments will be more manageable and borrowers can cap their payments at 5% of their monthly income. 

There are a variety of repayment plan options available to federal student loan borrowers, including:

• Standard repayment plans to pay off your loans within 10 years

• Graduated repayment plans to start with lower payments, which are then increased over time

• Extended repayment plans to provide an extended repayment time frame for borrowers with large amounts of debt

• Pay as you earn and income-based repayment plans to limit monthly payments to a percentage of your discretionary income

Eligibility for these repayment plans vary, and it is important to take into account various factors in choosing a plan, including income, time frame, eligibility for loan forgiveness programs, interest rates, and more. For more information on available repayment plans and see what you’re eligible for, click here.

What assistance can I get if my loans are in default? 

In an effort to assist student loan borrowers, the U.S. Department of Education created the “Fresh Start” program to help borrowers whose federal loans are in default once the pause on student loan payments ends. 

This program will allow borrowers to:

• Get back in good standing

• Become eligible for financial aid

• Get marks removed from their credit 

• Keep borrowers from having their wages and other income garnished 

The Fresh Start program will be in effect for one year after the COVID-19 pause on student loan payments ends. To learn more and to see if you qualify click here.  

Can my student loans be forgiven? 

Student loans may be forgiven, canceled or discharged for very limited reasons. To learn more please click here. 

In more common scenarios teachers and individuals working in public service may qualify to have their loans forgiven. 

The Public Service Loan Forgiveness (PSLF) program:

• Applies for people employed by a government or not-for-profit organization and 

• Forgives the remaining balance on Direct Loans after 120 qualifying monthly payments are made under a qualifying repayment plan while working full-time for a qualifying employer

• To learn more click here. 

• *Last year, the U.S. Department of Education announced a limited PSLF waiver to allow borrowers to receive credit for past payments that would not otherwise qualify. This waiver is set to expire on October 31, 2022. To learn more about the PSLF waiver, see if you qualify, and learn about additional steps to qualify, click here. 

The Teacher Loan Forgiveness Program: 

• Applies for people who teach full-time for five complete and consecutive academic years in a low-income elementary school, secondary school, or educational service agency

• They may be eligible for forgiveness of up to $17,500 on a Direct Loan or FFEL Program loans

• To learn more click here 

Where can I learn more information about student loans? 

To learn more about your student loan payments contact your loan service provider to make sure you are up-to-date on your loan details. Do not be afraid to call your loan provider as well, they are able to help answer your questions and interested in helping you stay on top of your loans. 

To find your loan service provider, login to or create a Federal Student Aid account, visit your account dashboard and scroll down to “My Loan Servicers” or call the Federal Student Aid Information Center (FSAIC) at 1-800-433-3243.

To learn more about student loan payments and forgiveness in general, please click here. 

Peace and love, 

Congressman Jamaal Bowman (NY-16)