This federal federal government loan forgiveness system has refused 99% of borrowers up to now
Posted: Sept 23, 2018 8:55 a.m. ET
Just 96 individuals are contained in the very first cohort of borrowers of the general public provider Loan Forgiveness system
Up to now, approximately 99percent of prepared applications for forgiveness under a federal federal government program directed at assisting general general public servants handle their federal student-loan financial obligation had their applications rejected.
As of June 30 of the 12 months, about 28,000 borrowers submitted 33,300 applications to own their loans released underneath the Public Service Loan Forgiveness system, an initiative launched in 2007 that enables borrowers who operate in specific forms of general public solution to own their federal student education loans cleaned away after a decade of repayments. Wednesday of the roughly 29,000 applications processed so far, 96 borrowers have had about $5.52 million in debt discharged under the program, according to a government report released. (more…)