A “student loan forgiveness application deadline” is a time limit by which borrowers must submit applications to be considered for loan forgiveness. For example, the deadline for Public Service Loan Forgiveness is October 31, 2023.
Student loan forgiveness can provide significant benefits, including the elimination of debt and the improvement of credit scores. A key historical development in student loan forgiveness was the creation of the Public Service Loan Forgiveness program in 2007, which provides forgiveness to eligible borrowers who work in public service for at least ten years.