Final October, NPQ covered the general public Service Loan Forgiveness (PSLF) system and noted compared to the initial 19,321 applications submitted for loan forgiveness, a grand total of 55 passed muster. Those figures arrived on the scene year that is last a national Accountability Office (GAO) report and were according to demands submitted at the time of April 2018.
Based on Michelle Hackman associated with Wall Street Journal, information is available these days through March 2019 and also the true figures are…not better.
As Hackman writes, “More than 73,000 folks have applied for financial obligation forgiveness at the time of March 31 with this based on Education Department information, but simply 864 have experienced their loans erased. Year”
Even though the probability of getting loan forgiveness approved have actually quadrupled—from 0.3 per cent to 1.2 percent—it’s no real surprise one other 98.8 % are none too happy.
Back 2016, articles in NPQ by Nancy Berlin and peers at CalNonprofits extolled the benefits for the PSLF system:
The government provides a system which makes residing in the general public sector easier: Public Service Loan Forgiveness. [Read more…]