Congress tried to make it easier for borrowers to apply for federal student loan debt forgiveness, but almost everyone who's applied has been rejected, according to a government report
Washington Congress tried to make it easier for borrowers to apply for federal student loan debt forgiveness, but almost everyone who's applied has been rejected, according to a government report released Thursday.
The Education Department denied 99% of requests for relief processed under the newly expanded Public Service Loan Forgiveness program, according to a review by the Government Accountability Office released Thursday. Only 661 applications were approved while 53,523 were denied during the first 12 months after the fix was put in place. Congress set aside $700 million to expand the program in 2018 in response to the low number of people qualifying for forgiveness.
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