Borrowers have a year to get a second shot at public service loan forgiveness

Borrowers have a year to get a second shot at public service loan forgiveness

- If you've been told you're ineligible for public service loan forgiveness, that may no longer be the case. - Here's what you need to know and do. People pursuing public service loan forgiveness know how difficult the program can be to successfully navigate. Less than 5% of those who've applied for the relief have been approved. The U.S. Department of Education announced that it would be giving borrowers who've been excluded from the debt cancellation program — often for a technical reason, such as their federal loan or repayment plan type — another chance to qualify. (The PSLF program, which was signed into law by then-President George W. Bush in 2007, allows nonprofit and government employees to have their federal student loans canceled after 10 years, or 120 payments.) …
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