Education Dept. Could End PSLFs Which Could Affect Almost a Half Million
May, 18th 2017
More than 400,000 student loan borrowers may have placed their faith in a government program with an uncertain future.
The Public Service Loan Forgiveness Program promises to cancel any remaining student debt for those who work for the government or nonprofits if they have been making on-time payments for 10 years. Many teachers, public defenders, Peace Corps workers, and law enforcement officers fit the qualifications.
This October marks the 10th year of the program and the first time anyone will have made enough payments to get their debt wiped away. It's unclear how much the program will cost the government when its starts to forgive those debts.
The program has been shrouded in some uncertainty for months.
On Wednesday, the Washington Post reported that the Department of Education is planning to propose ending the Public Service Loan Forgiveness Program.