Loan Forgiveness Down the Tube

​​​​​​SOUTH CAROLINA ORGANIZATION OF RURAL SCHOOLS

 

Congressional letter on problems with Public Service Loan Forgiveness program – More than 150 Members of Congress wrote a letter to Education Secretary DeVos  on October 16 seeking answers to questions about the extremely low rate that the Department of Education (ED) is forgiving student loans under the Public Service Loan Forgiveness program. Last month, ED data showed that of more than 28,000 applications for loan forgiveness under the program, only 96 borrowers had been approved –less than 1% of all applicants. The Government Accountability Office released a report in September identified problems with ED’s outreach to borrowers and information to employers and servicers, and included recommendations for corrections.