US Dept of Education Forgives $49 Million in Wyoming Public Service Loan Debt

To mark Public Service Recognition Week, the U.S. Department of Education announced it has approved nearly 616,000 borrowers nationwide for approximately $42 billion in Public Service Loan Forgiveness (P.S.L.F.) since October 2021.

P.S.L.F. covers public employees—such as teachers, firefighters, and members of law enforcement, as well as those who work for a non-profit organization—in various fields by forgiving the remaining federal student loan balance for those who make the required 120 qualifying monthly payments.

In fact, P.S.L.F. is making an incredible difference for public servants in Wyoming:

Between October 2021 and May 2023, the Department approved approximately 900 borrowers in Wyoming for more than $49 million in loan forgiveness under temporary changes the Biden-Harris Administration made to the P.S.L.F. Program. That’s nearly $55,000 per borrower!
While hundreds of thousands of Wyoming borrowers have benefited from P.S.L.F., more will benefit as the program continues.

“Since Day One, the Biden-Harris Administration has worked relentlessly to fix a broken student loan system, including by making sure we fulfill the promise of Public Service Loan Forgiveness for those who have spent a decade or more serving our communities and our country,” said U.S. Secretary of Education Miguel Cardona. “To date, the Biden-Harris team has kept that promise for more than 615,000 teachers, nurses, social workers, service members, and other public servants by approving a combined $42 billion in student loan debt forgiveness. The difference that Public Service Loan Forgiveness is making in the lives of hundreds of thousands of Americans reminds us why we must continue doing everything we can to fight for borrowers and why families cannot afford to have progress derailed by partisan politicians. During Public Service Recognition Week—and every week—we thank all those who serve our communities.”

Public Service Recognition Week celebrates individuals who serve the United States and local communities as employees of federal, state, local, or tribal government.

Recent Improvements to the P.S.L.F. Application Process

In addition to record approvals, the Department is also announcing that for the first time, borrowers can now sign and submit their P.S.L.F. forms digitally and closely track their status through the process.
These significant changes to the P.S.L.F. application process create a faster, more straightforward, and more transparent process for borrowers.
The changes also improve public service employers’ experience, who can now digitally confirm a borrower’s employment via DocuSign.

Meanwhile, the debate over broader student loan forgiveness continues. The U.S. Department of Education estimates that over 40 million Americans – and 70,000 Wyomingites – are eligible for up to $10,000 of student loan debt. Senators John Barrasso and Cynthia Lummis are against this forgiveness, as are most members of the Republican Party.