Do you know a teacher, nurse, government employee or employee of a non-profit with student loans? If so, they will want to be aware of the changes made this week to the Public Service Loan Forgiveness Program.
In short, the program was designed to encourage students to enter these careers by providing forgiveness of student loans after 10 years of payments. The problem has been that the requirements of the program and the complexity of different types of student loans and repayment options have made it extremely difficult for eligible participants to actually receive the benefit.
Ron Lieber is a great resource to learn more about the program and the impact of these changes. I’d encourage you to learn more about the programs and these changes through his writing here:
You can also go directly to the Federal resources for student aid here: