US Professor Finally Got Student Loan Forgiveness And So Can Do You!

4 days ago

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Since student loans are still a huge and heartbreaking problem of today’s college students, the Typical Student team can’t pass by this story. It’s about a professor who fights for public service loan forgiveness.

 

Who Is This Prof?

 

 

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Jason Edwards is a communications professor. He works at Bridgewater State University in Massachusetts. So, Mr. Edwards learned seven years too late that he didn’t qualify for public service loan forgiveness. His debt had been paid by the Providence, Rhode Island, resident that long when a surprise came.

 

In 2018, Congress decided to authorize a $350-million “fix” to the public service loan forgiveness program. With it, the prog got another chance at applying.

 

Public Service Loan Forgiveness Program

 

 

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To make a long story short, the public service loan forgiveness program, (that was signed into law by President George W. Bush in 2007,) lets not-for-profit and government employees to have their federal student loans canceled after 10 years of on-time payments.

 

To say more, in 2013, the Consumer Financial Protection Bureau said that over 1/4 of US workers could be eligible for the relief. Here are the public service loan forgiveness requirements.

  • Your loans must be federal direct loans.
  • Your employer must be a government organization at any level, a 501(c)(3) not-for-profit organization or some other type of not-for-profit organization that provides public service.
  • By the end, you need to have made 120 qualifying, on-time payments in an income-driven repayment plan or the standard repayment plan.

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