A federal loan forgiveness program known for its ineffectiveness will be subject to important reforms during the next year, the Department of Education announced on Wednesday. The review is intended to fulfill a promise of "largely not satisfied" to clean the student debt of teachers, military service members and others who work in the public sector.

Most changes are temporary. But the department estimates that, as a result of the reforms, 22,000 borrowers will have $ 1.74 billion in allied loans immediately, and more than half a million borrowers will see that their progress towards loan forgiveness increases automatically.

Only 2 percent of processed applications have complied with the requirements for the forgiveness of the loan under the Public Service Loan Sorry Program (PSLF), which is intended to provide student borrowers A performance of your loans in exchange for a decade of work in a government or non-profit employer.

more popular
  • Mark Twain was American Lit's top critical critic (opinion)
  • How to write an effective diversity statement (trial)
  • Login

     

    Register

     
    Already have an account? Login here
    loader

    contact us

     

    Add Job Alert