2 years ago
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?
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
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.
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