Page 15 - The EDGE Fall 2022
P. 15
Help your staff get the
student loan relief they deserve
Watch
how
Horace Mann Service Corporation and certain of its affiliates (Horace Mann) enter into agreements with educational associations
where Horace Mann pays the association to provide services aimed at familiarizing association members with the Horace Mann
brand, products or services. For more information, email your inquiry to association.relations@horacemann.com.
AM-C04696 (Sep. 22) horacemann.com
received a Pell grant when they borrowed student
loans, they are eligible to receive up to $20,000 in
forgiveness. Borrowers should continue to monitor
the timeline for this forgiveness.
According to Ewald, PSLF and Biden forgiveness are
only for federal student loans, not private loans, and
repayment of all student loans is to begin January 2023.
PSLF, which began in 2007, forgives the remaining
balance on your direct loans after you have made
120 qualifying monthly payments under a qualifying
repayment plan while working full-time for a
qualifying employer.
“You have to make income-driven payments
recorded annually by the Department of Education,”
Ewald said. “After ten years, whatever is left is
forgiven, including interest. And the payments don’t
have to be ten consecutive years for the program
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