• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
Universities.com

Universities.com

Subscribe Subscribe
  • Facebook
  • Instagram
  • Pinterest
  • YouTube
  • Careers
    Psychology Clinical Psychology Degree Master in Forensic Psychology Child Psychology Degree Speech Therapy Degree
    Marketing Marketing Degree: Is It Worth It? Digital Marketing Degree Business Marketing Degree Is Marketing a Good Major?
    Criminal Justice Best Forensic Science Universities Criminal Justice Degree Criminology Degree Online Criminal Justice Degree Homeland Security Degree Law Enforcement Degree Forensic Science Degree: Is It Worth It?
    Trade Schools How to Become an Electrician HVAC Certification How to Become a Plumber Electrician Trade School What is a Trade School?
  • Best Universities
    Best Bachelors Universities Legal and Law Art and Design Trades and Careers Human and Social Sciences
  • Rankings
    Best Universities by Major Agriculture Majors Business Majors Computer Technology Majors Education Majors
    Best Universites by State Florida Texas California New York
  • Learn
    10 States with Massive Teacher Shortages 10 Things to Do Your First Week of College Does College Prepare Students for Jobs? How To Become an English Teacher

Important Dates in 2022 for Student Loan Borrowers

November 24, 2021 by Amy Blitchok

student loan debt forgiveness

With the holiday season upon us, things are about to get busier than usual for most people. That’s why we wanted to take a minute to remind you about some important dates that are coming up in 2022 for student loan borrowers. Be sure to mark your calendar for these dates.

January 31, 2022 – Student Loan Payments Resume

In response to the COVID-19 pandemic and the financial burdens families were facing as a result, the government passed the CARE Act legislation in March of 2020. One provision of the act put a freeze on student loan repayments. Borrowers didn’t have to worry about interest accruing and all collection efforts on defaulted federal student loans were put on pause. As the pandemic continued, this type of relief received several extensions, but the Biden administration has made it clear that the final ending date for the program will be January 31, 2022. That means that all repayments will resume in February. 

Here are a few things you can do to prepare for loan repayments:

  • After almost two years, you may have moved or gotten a new phone number. Make sure that all your contact information is up-to-date so that you don’t miss any important notifications.
  • Dig out all your repayment records and any important documentation regarding your loans. Make sure this information is readily accessible and organized in case you need it come February.
  • Make sure you understand what your monthly payment amount will be. If you aren’t happy with the number, research alternative payment plans. Income-based plans can offer more affordable payments.

October 22, 2022 – Student Loan Forgiveness Memo to be Made Public?

There has been a lot of debate around forgiving student loan debt. Even those who are for it have yet to agree on an amount. At the same time, it is unclear who has the authority to cancel student loan debt. Some proponents argue that the President has the authority and could use an executive action without the need for Congress’s approval. In April, the President formed a council of officials to research this issue and determine the legality of such executive action. They responded with a memorandum that has yet to be released, so only a select few are aware of the council’s conclusions. 

Some Democrats have joined forces and demanded that President Biden make the memo public by October 22, 2021. However, the White House has no obligation to actually meet this deadline and they could continue to keep the memo private. Democrats are hoping that pressure will build over the next months and make it nearly impossible to ignore their demands.

October 31, 2022 – End of the Public Service Loan Forgiveness Expansion Program

When the Public Service Loan Forgiveness (PSLF) program was first introduced, it seemed like a good idea. Anyone who had pursued a career in government and non-profit sectors could apply for a certain amount of student loan forgiveness. However, it quickly became clear that the eligibility requirements were extremely limiting, making it difficult to actually qualify. For example, only certain types of loans were accepted and any borrower with just one late payment was rejected from the program.

In response to harsh criticism of the program, the Biden administration responded with the “Limited PSLF Waiver,” which expanded the traditional PSLF program. With expanded eligibility, more borrowers were granted access to the program, and forgiveness has been given more quickly. As an added bonus, many of these changes happened automatically and didn’t require any action on the part of the borrower.

However, the expansion and its more relaxed and inclusive requirements are scheduled to end. This means that borrowers may have to consolidate their loans or complete a new PSLF application to see if they can qualify under the stricter guidelines. No matter what the situation, any and all action by borrowers must be taken by October 31, 2022.  

Amy Blitchok
+ posts

Amy Blitchok is a professional writer based in Raleigh, NC. She covers topics that range from health and technology to marketing and sales. As a former English lecturer, she has a personal connection to academia and the topic of educaiton. When she isn’t writing or reading, she is taking care of her menagerie of pets and foster animals.

  • Amy Blitchok
    https://www.universities.com/learn/author/ablitchok/
    OSU Addresses Fake Adderall Overdoses on Campus
  • Amy Blitchok
    https://www.universities.com/learn/author/ablitchok/
    University of Tennessee Discontinues Test-Optional Applications
  • Amy Blitchok
    https://www.universities.com/learn/author/ablitchok/
    Graduation Ceremonies Super-Sized For 2022
  • Amy Blitchok
    https://www.universities.com/learn/author/ablitchok/
    Stress Causing More Students To Consider Dropping Out

Filed Under: Articles, Financial Aid

Related Popular Posts

  • Top 12 Major Regrets of College Students

    Top 12 Major Regrets of College Students

  • 5 Ways To Make Friends in College

    5 Ways To Make Friends in College

  • Should I Join the Military to Get College Paid For?

    Should I Join the Military to Get College Paid For?

Primary Sidebar

Blog Search

Categories

Find Online Schools
Sponsored Content
Universities.com

Established in 1996, Universities.com is the trusted source used by millions of people to make informed decisions about their education. If you’re thinking about a college, university or advancing your degree, then you’re in the right place.

Resources
  • Search Colleges
  • Blog
  • About Us
  • Ranking Methodology
Financial Aid
  • Search Scholarships
  • Ultimate Scholarship Guide
  • Scholarship Advice
  • 13 Best Scholarships for Women
Support
  • Contact Us
  • Privacy Policy
  • Terms and Conditions
  • Cookie Settings
  • Do Not Sell My Personal Information
© 1996-2021 Universities.com. All rights reserved.