More than a dozen Democratic senators introduced a bill on Thursday to overhaul the popular but challenged Public Service Loan Forgiveness Program.
A dozen Democratic senators introduced a bill on Thursday to overhaul the popular but challenged Public Service Loan Forgiveness Program.
"The current Public Service Loan Forgiveness Program is a bureaucratic nightmare, and the Department of Education is failing to meet its obligation to help ease the student debt burden for our nation's public servants," said Gillibrand in a statement. Gilibrand is running for president in 2020. As a result, many people in public service jobs believe that they're paying their way to loan forgiveness only to discover at some point in the process that they don't qualify for one technical reason or another. Often, their loan type or repayment plan was ineligible.
In addition, all federal repayment plans would be eligible for the relief. There are some 14 ways to repay your student loans, but to qualify for public service loan forgiveness you currently need to be enrolled in one of the four income-based programs.
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