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> are being forgiven under the Public Service Loan Forgiveness program, created in 2007 ... nothing to do with current debates around loan forgiveness Well, FW
by commandlinefan 5y ago
> are being forgiven under the Public Service Loan Forgiveness program, created in 2007 ... nothing to do with current debates around loan forgiveness
Well, FWIW, I'd never heard of that program before now, but I'm not super happy about it, either.
- dangerlibrary 5y agoThere are a lot of different versions of these income-based repayment programs, dating back to the early 00s at least. They are all structured similarly but have differing eligibility cutoffs and rules. Typically they involved making payments on your loans for 20-25 years at some maximum % of your income before the remaining balance is forgiven. PSLF has a shorter forgiveness window (10 years) but you need to make 120 payments while working some job that is socially useful but not-market-optimal like public service or working for a nonprofit. FWIW, IBR systems they are a common policy suggestion from both conservatives and liberals (with differing priorities / rules).
- halJordan 5y agoIdk why you dont like the program but generally speaking this program is only needed because civil servants get paid absurdly low salaries.