The VALOR Act modifies the Public Service Loan Forgiveness (PSLF) program to make it easier for military members, National Guard personnel, and commissioned officers in the National Oceanic and Atmospheric Administration (NOAA) to have their student loans forgiven. Specifically, the bill allows service members to count months when their loan payments were deferred or placed in forbearance due to active duty service as qualifying payments toward loan forgiveness, and it waives certain payment requirements for borrowers who completed 10 years of full-time active duty service. The legislation applies retroactively, allowing service members who enrolled in PSLF at any time in the past to benefit from these changes. This change particularly helps military personnel whose service obligations delayed their ability to make regular loan payments, giving them credit for that service time anyway.
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