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I think historically, the number of loans actually forgiven by the PSLF program has been very very low, even for people that qualify.
by adoxyz 4y ago
I think historically, the number of loans actually forgiven by the PSLF program has been very very low, even for people that qualify.
- Spellman 4y agoParticularly a while ago it was nearly impossible to utilize the program because it was a bureaucratic and underfunded mess. So the number who qualified was effectively zero. Now it's marginally less terrible and actually forgiving some people's loans.
- jhpaul 4y agoSpecifically, the previous Dept of Ed administration torpedoed the program. When the first class of PSLF candidates hit the 10 yr mark in 2017, 99% were rejected [0]. [0]: https://www.politico.com/story/2019/05/23/public-service-loan-forgiveness-program-1442311 https://www.politico.com/story/2019/05/23/public-service-loa...
- _moof 4y agoI know folks who have worked towards PSLF and ended up getting screwed because they weren't on the right repayment plan. Absolutely devastating to find out you've spent ten years working on something only to have it fall apart because you checked the wrong box once. And apparently this is a very, very easy mistake to make.