Student loan forgiveness for public-sector workers will be temporarily paused. Heres what you need to know [Video]

Student loan forgiveness for public-sector workers such as teachers and nurses will be temporarily paused beginning May 1 as the Department of Education moves management of the program in-house.The transition is expected to last through July and will impact about 2 million borrowers enrolled in the Public Service Loan Forgiveness program, or PSLF, which cancels student debt remaining after an eligible borrower has made 120 monthly qualifying payments.The federally contracted student loan servicer MOHELA (Missouri Higher Education Loan Authority) is currently tasked with servicing the accounts of these borrowers. But after the transition, borrowers will find their up-to-date payment counts and other information at the Federal Student Aid office’s website.The change will also apply to the Teacher Education Assistance for College and Higher Education (TEACH) Grant program, which provides money to students who are planning to teach certain subjects in low-income districts. The grants, which are converted to loans if …