The announcement of student debt relief plan made waves recently.
But there’s another path to loan forgiveness that many aren’t aware of: the overhaul of the Public Service Loan Forgiveness program.
The window to take advantage of the limited waiver is nearing its close. The program is for people in public service like teachers, firefighters, and police officers.
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When it was launched in 2007, a lot of folks took the government up on this offer - to commit to 10 years of public service after college and the majority of your loans will be forgiven.
But tens of thousands of public sector workers were denied the reward for their services, with a staggering 98% of applicants turned away for a variety of administration failures.
NBC CT Responds
“The mental anguish that was caused by this whole thing has been pretty significant,” said Ann Wysock, who was counting on the PSLF application and struggled to get it approved.
She shared her story with NBC 5 Responds.
This relaunch with relaxed rules is an effort to give these folks the opportunity to take advantage of the loan cancellation that they were promised.
This new public service loan limited waiver could impact thousands of public service employees, including loan types that weren’t previously eligible.
Applicants must apply by Oct. 31.
