Home News Education Department rejected 99% of applicants for student loan forgiveness program – CBS News

Education Department rejected 99% of applicants for student loan forgiveness program – CBS News

10
0

The U.S. Education Department rejected 99 percent of applicants in the first 12 months of a revamped student loan forgiveness program, according to government watchdog report released Thursday. Ironically, the program had been expanded last year to help students who were already struggling to qualify for loan forgiveness.

The report by the Government Accountability Office says there were 54,184 completed applications between May 2018 and May 2019 for the Temporary Expanded Public Service Loan Forgiveness Program (TEPSLF). Out of those, 53,523 were denied and only 661 were approved.
Congress expanded the program in 2018 to help students who were having trouble securing loan forgiveness through the Public Service Loan Forgiveness (PSLF), a program created in 2007 to forgive federal loans for students who works in certain public service jobs for at least 10 years while making payments. Congress set aside $700 million for the program’s extension — and just $27 million of that has been used.

Congress expanded the program in 2018 to help students who were having trouble securing loan forgiveness through the Public Service Loan Forgiveness (PSLF), a program created in 2007 to forgive federal loans for students who works in certain public service jobs for at least 10 years while making payments. Congress set aside $700 million for the program’s extension — and just $27 million of that has been used.

View Original Source

tags:

LEAVE YOUR COMMENT

Your email address will not be published. Required fields are marked *