The Biden-Harris Administration’s Student Debt Relief Plan
On Wednesday, Aug. 24, 2022, the Biden administration announced its plan for student debt relief. This three-part plan includes the final extension of the student loan repayment pause, providing targeted debt relief to low- and middle-income families, and making the student loan system more manageable for current and future borrowers through creating a new income-driven repayment plan.
Coastal Carolina University’s Financial Aid & Scholarships has not received specific guidance on how to assist students who may qualify for the student debt relief plan. Please read the announcement from Federal Student Aid. You can sign up to receive federal student loan borrower updates from the U.S. Department of Education.
You may log in to StudentAid.gov using your FSA ID to see if you received a Pell Grant in the past. For any other questions about federal loans you have borrowed, please contact your loan servicer. Contact information for your loan servicer can also be found at StudentAid.gov.
Limited Public Service Loan Forgiveness Waiver
The “Limited Public Service Loan Forgiveness (PSLF) Waiver” refers to the time-limited changes to Public Service Loan Forgiveness (PSLF) Program rules that allow borrowers to receive credit for past periods of repayment that would otherwise not qualify for PSLF. This opportunity ends on Oct. 31, 2022.
Borrowers who are interested in this limited waiver should read the announcement from Federal Student Aid. Employees of Coastal Carolina University who are interested in submitting documentation to certify their employment status should visit HREO’s website.
Fresh Start
On April 6, 2022, the US Department of Education announced the “Fresh Start” initiative to help eligible borrowers in default. Borrowers with eligible loans may be able to temporarily regain student aid and credit reporting benefits, and get the opportunity to get out of default to maintain those benefits long-term. Borrowers can read the announcement of this initiative from Federal Student Aid. Student and parent borrowers who are notified by the US Department of Education of their possible eligibility or who believe that they will be eligible for federal aid under this initiative should reach out to a financial aid counselor at (843) 349-2313 or finaid@coastal.edu for next steps.