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Only 0.3% of Applicants

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Only 0.3 Percent of Applicants for Public Service Student Loan Forgiveness Received It
Home /Student Debt/Only 0.3 Percent of Applicants for Public Service Student Loan Forgiveness Received It
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By: Nick Jewell
Student Debt |
September 25, 2018
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Out of the approximately 30,000 people who applied for the Department of Education’s public service student loan forgiveness program, only 96 had their loans forgiven.

The program, which former President George W. Bush created in 2007, allows for graduates to apply to have their federal student loan debt forgiven if they opt to work in a “public service” industry, rather than pursue a more lucrative career in the private sector. Approved employers usually consist of local, state, and federal government agencies and certain non-profit organizations.

Recent graduates can be enticed with the offer of having tens of thousands of dollars in federal direct loans forgiven after ten years of public service (assuming they make all their monthly payments on time, typically 10 percent of a borrower’s monthly income

https://gritpost.com/public-service-loan-forgiveness-program/
 
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