Broker Check

Student Loan Cancellation

October 18, 2022

Greetings from ISC Group’s Student Loan Expert, Melissa Cox CFP


There is an important update to share!


Since September 1, 2022 I have had the privilege of helping our clients with approximately $5,124,315 in student loans!  Of which 40% will likely qualify under the Public Service Loan Forgiveness (PSLF) Limited Waiver Program. Sharing in the speechlessness of unbelief, tears of joy, and sighs of relief have become some of my favorite moments in my 17 year career as a CERTIFIED FINANCIAL PLANNER with ISC Group. It’s been truly life changing for many… including myself.


As you may remember on August 24, 2022 President Biden made a huge announcement for student loan borrowers in which qualifying borrowers would receive up to $20,000 in debt cancellation.



  • Federal Loan Borrowers
    • Borrowing before 6/30/2022
  • Income Requirement
    • Under $125,000 for a Single Tax filer
    • Under $250 for Married filing Joint


Well… The application is hot off the internet press, and I’m urging you to Apply for debt relief now

The application is still in the beta phase, so if you try to complete it and it gives you problems; wait and try again later.   You will only need to complete the form once.

***There is still a chance that one of many lawsuits being filed will put a stop to this life changing debt cancellation.  But do not let that stop you from applying and looking at your potential loan forgiveness options.


The PSLF Limited Waiver Program is still open until October 31, 2022.  This program is part of the COVID 19 relief act, and is allowing borrowers to receive credits for payments that have not qualified for PSLF in the past.  If you have been paying on your student loans and have been denied in the past, you will want to act before 10/31/2022.  There is required paperwork to complete, and older Federal Family Education Loans (FFEL) MUST be consolidated into Direct Loans to qualify for the Limited Waiver Program.


Need help?  Reach out to your Financial Representative or schedule a free 15-minute call with me.