OLYMPIA – Gov. Jay Inslee today signed legislation to bring relief to the student debt crisis and to expand access to the Public Service Loan Forgiveness (PSFL) program.
PSLF is a federal program that allows borrowers employed full-time in public service jobs to have their student loans repaid. Senate Bill 5847, sponsored by Sen. Marko Liias (D-Everett), helps to promote the program by ensuring public service employees are notified of their eligibility. The bill also ensures borrowers are provided with resources on how they can enroll in PSLF and have their public service recognized.
“Too many of our neighbors are feeling the burden of student loan debt, and by increasing access to this crucial program we can make sure they feel some relief,” said Liias. “This program is a great way to help those who have decided to serve our state, and I’m eager for more folks to benefit from it now that this bill has been signed into law.”
In Washington state, about 800,000 people owe over $27 billion in total student loan debt – more than $35,700 per average borrower. SB 5847 will help to alleviate that debt for public employees.
The bill goes into effect immediately.
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