The Department of Education is improving the Public Service Loan Forgiveness program
By NJ Chicaa
@NJChicaa (119636)
United States
October 6, 2021 2:21pm CST
The program was signed into law under George W Bush but was difficult to navigate. Under Trump and then-Secretary of Education Betsy de Vos 90% of applications for the program were denied. Things are changing under the Biden administration.
The program forgives student loan debt for qualifying public sector workers who have worked full-time for 10 years and who have made 100 consecutive payments. Federal workers, military members, teachers, etc. are eligible.
I remember mentioning the program to my ex several years ago but he was like "absolutely not. We are paying your debt." Now I'm on my own so I decided to read a FAQ about the process of applying. I couldn't make heads or tails of it. It honestly will be easier to just pay off the $4000+ or whatever it is that I still owe.
I'll check up on it when they release the details of the new and "improved" process.
The US Department of Education announced major changes Wednesday to a federal student loan forgiveness program that the agency says could bring relief to more than 550,000 borrowers working in government and nonprofit sectors, including around 22,000 borro
3 people like this
3 responses
@kaylachan (69824)
• Daytona Beach, Florida
6 Oct 21
I'm glad programs like this exist for those who need them, but if you have the means to pay it off I think you're better off.
1 person likes this
@LindaOHio (178877)
• United States
7 Oct 21
Naturally it's your own decision; but I think I would pay off the loan. Forgiving a whole bunch of debt to a school would probably cause them to raise tuition to offset the loss of revenue.
