Federal student loan updates

What you need to know

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The federal student loan landscape is changing, and it’s important to stay informed and know your options. Our Student Loan Solutions program can help you navigate these changes, manage your student loans, apply for federal loan forgiveness and get on a path toward a brighter financial future.

Sign up for your complimentary account and learn more about the latest student loan updates below.

Student loan payment pause ending

  • What: The student loan payment pause, which began March 13, 2020, has included a suspension of loan payments, a 0% interest rate and stopped collections on defaulted loans.
  • When: The payment pause was recently extended until the Department of Education (ED) is allowed to implement its debt relief program or the litigation is resolved. Payments would start 60 days later. If neither occurs by June 30, 2023, payments will resume 60 days after that. Read more about the debt relief program here.
  • Next steps: Get your loans in order and make sure you’re on the best repayment plan by signing up for your complimentary Student Loan Solutions account.

One-Time IDR Account Adjustment

  • What: ED will conduct a one-time account adjustment to fix longstanding problems faced by borrowers working toward forgiveness under income-driven repayment (IDR) plans and Public Service Loan Forgiveness (PSLF). ED will review borrowers’ past payments and automatically update their payment counts to give credit toward IDR forgiveness and PSLF.
  • When: Borrowers who reach the required number of payments for IDR forgiveness or PSLF after the account adjustment will see their loans forgiven starting November 2022. Most other borrowers will see their accounts updated in July 2023.
  • Next steps: To benefit from this one-time account adjustment, borrowers with non-Direct Loans need to submit a Direct Consolidation of those loans by May 1, 2023. There is no deadline to apply for PSLF with this one-time adjustment, but borrowers are encouraged to submit all necessary PSLF forms as soon as possible.

Permanent changes to PSLF

  • What: ED is making lasting improvements to PSLF that will reduce barriers that have historically made it difficult for borrowers to receive credit and make progress toward PSLF.
  • When: The permanent improvements will take effect July 1, 2023.
  • Next steps: Learn more about the changes here.

Contact your Horace Mann representative with questions or for more information.



The information provided here is for general informational purposes only and should not be considered a recommendation. Horace Mann’s Student Loan Solutions program includes services provided by an independent third party, Tuition.io. Horace Mann is an independent company not affiliated with the Department of Education or the federal government. Horace Mann does not negotiate, adjust or settle debts. No assistance provided by Horace Mann constitutes official action for purposes of student loan forgiveness programs or guaranteed results. Horace Mann’s Student Loan Solutions program terms are subject to change.

The information provided here is current as of November 2022.

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