U.S. Education Department Updates Student Loan Guidance Emphasizing On-Time Payments for Key Benefits

The U.S. Education Department has updated its online guidance for federal student loans, stressing the necessity of 'on-time' payments to access critical benefits under new reforms, including the new Repayment Assistance Plan (RAP) and Public Service Loan Forgiveness (PSLF). This marks a significant shift, as the previous 15-day grace period for PSLF payments is eliminated, requiring all payments to be made on or before the due date.