High Anxiety As First Student Loan Forgiveness Program ‘Graduates’ Await Relief This October

From Forbes authored by Diane Hembree:

“For debt-ridden Americans in federal student loan forgiveness programs, October is a month of hope and trepidation.

The first wave of college graduates who were accepted into the Public Service Loan Forgiveness Program 10 years ago and made their payments faithfully each month are eagerly waiting to find out this October whether their debt is wiped clean, as promised.

In addition, a lawsuit charging the Department of Education with reversing its course on student loan forgiveness goes to a hearing in early October.

What happens will not only determine the fate of the first borrowers to complete the program — it’s a bellwether for the more than half a million college graduates enrolled in the program who are anxiously watching to see whether the government upholds its end of the bargain. The Department of Education created the program in 2007 so that college students could have their student loans wiped out if they worked in a public service job after graduation and followed rigorous repayment guidelines for 10 years.”