After months on pause, a key student-loan forgiveness program is back.
Over the past week, student-loan borrowers on income-based repayment plans have started to receive emails from the Department of Education notifying them that they’ve met the payment threshold and qualify for debt cancellation.
The emails, multiple of which were reviewed by Business Insider, had the subject line: “You’re eligible to have your student loan(s) discharged.” It said that the department is working with the borrower’s servicer to process the relief “over the next several months,” and the department will send the borrower’s discharge information to the servicer after October 21.
Income-based repayment plans give borrowers monthly…