On Monday, May 23 TCNJ President Kathryn Foster welcomed Governor Phil Murphy, U.S. Under Secretary of Education James Kvaal, and Federal Student Aid Chief Operating Officer Rich Cordray to the college for a roundtable discussion to highlight the federal Public Service Loan Forgiveness Program.
“Employees in the public and non-profit sectors provide invaluable services to our state and our nation, from defending our country to teaching the next generation, and everything in between,” said Murphy inside the Brower Student Center. “The federal Public Service Loan Forgiveness Program rewards these dedicated public servants by offering a path to student loan forgiveness, but many borrowers may not realize they qualify. By working with our federal partners to streamline the application process and highlight recent changes that expand eligibility for PSLF, we will encourage more student loan borrowers to get involved in public service and take advantage of this helpful program.”
Employees of federal, state, local, or tribal government or not-for-profit organizations may be eligible for PSLF. The program forgives the remaining balance on certain federal student loans after borrowers have made 120 qualifying monthly payments and meet other specific criteria.
“I am proud that we are turning the Public Service Loan Forgiveness Program from a promise broken into a promise kept for borrowers who devote a decade of their lives to public service,” said Kvaal. “Secretary of Education Miguel Cardona, Rich Cordray and I are pleased to support Governor Murphy’s efforts to ensure all eligible New Jersey residents get the student loan relief they have earned and deserve. I hope other states will follow suit by sharing with their residents the ways that they can take advantage of this opportunity.”
Jared Williams ’25, a political science major and vice president of governmental affairs for SGA was one of the student representatives who participated in the roundtable discussion. Williams plans to pursue an advanced degree in law and become a lawyer.
“If I were to become a lawyer that works for the government, I would be able to qualify for the Public Service Loan Forgiveness Program” Williams says. “I aspire to work in the public domain to serve and give back to my community, because ultimately, supporting and strengthening my community is paramount. This program makes that possible.”
Eligible candidates, including TCNJ employees, are encouraged to apply for the program before the October 31, 2022 deadline.