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

4 months 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, it took Mr. Edwards 7 years to learn 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 prof 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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