Last October, NPQ covered the general public Service Loan Forgiveness (PSLF) system and noted that of the very first 19,321 applications submitted for loan forgiveness, a grand total of 55 passed muster. Those figures arrived year that is last a national Accountability Office (GAO) report and had been centered on demands submitted at the time of April 2018.
In accordance with Michelle Hackman regarding the Wall Street Journal, information is available nowadays through March 2019 and also the true numbers are…not definitely better.
As Hackman writes, “More than 73,000 folks have requested financial obligation forgiveness at the time of March 31 for this in accordance with Education Department information, but simply 864 experienced their loans erased. Year”
Although the probability of getting loan forgiveness approved have actually quadrupled—from 0.3 % to 1.2 percent—it’s no real surprise one other 98.8 per cent are none too pleased. Continue reading