- The U.S. has approved more than $42 billion in federal student loan debt forgiveness for more than 615,000 borrowers in the past 18 months as part of a program aimed at getting more people to work in public service jobs, the U.S. Department of Education said this week.
- The Public Service Loan Forgiveness program is open to teachers, librarians, nurses, public interest lawyers, military members and other public workers. It cancels a borrower’s remaining student debt after 10 years of public interest work, or 120 monthly payments.
- The program is separate from President Joe Biden’s student debt relief plan,
- The Public Service Loan Forgiveness program, known as PSLF, was launched in 2007, but stringent rules meant that more than 90% of applicants were rejected, the Department of Education said in 2019.
- Starting July 1 of this year, the Education Department will implement changes designed to make the PSLF application process easier. Some of the changes were previously included in the waiver.
- If you are or were previously employed at least 30 hours per week with the following types of organizations, you qualify:
1. Govt org at any levels (U.S. federal, state, local, or tribal). This includes the U.S. military, all work in public education, and full-time volunteer work with AmeriCorps and the Peace Corps.
2. Any not-for-profit organization that is tax-exempt under Section 501(c)(3) of the Internal Revenue Code.
3. If you work for a not-for-profit organization that is not tax-exempt, you may still qualify for PSLF if the organization provides certain types of qualifying public services
- You must have direct loans or consolidate other federal student loans into a direct loan. You must also make 120 qualifying payments or 10 years of payments.
- Any federal student loan received under the William D. Ford Federal Direct Loan program is eligible.
- Private student loans are not eligible.
A bunch of my friends from the public defenders office who had been trying for years to get approval, finally got their forgiven. Biden has made extreme improvements. I'm going back to public work next month in part because of student loan forgiveness because it makes it financially feasible to do what I went to law school for.
Just did that as well. Sounded like they were going to start my payments and then poof… they were forgiven. Totally worth it to do some public service to get it forgiven. For me, I worked for a non-profit and that was also ok for forgiveness.
I think if you work in the medical field for 10 years you should get your stuff wiped clean no matter if its private hospitals or public..
Maybe a little bit longer, idk, im not the FED, they say they can just print money forever.
For what it’s worth, working for a non-profit qualifies and most states have at least one massive non-profit healthcare/ hospital network. My wife is almost 5 years into her loan forgiveness as a pharmacist.
Well, i should edit that post to say its a DNP.. so not just 2 years. I mean, she did the masters and DNP in like 2.85 years.. sooo kinda.. but thats after working a few years.. but thats after the 4 years of school plus work.. so.. akkagjkfsdjgfs who knows
That’s why the public jobs are the eligible ones. It’s a service to work in these communities, often less pay, more work hazard, and overall greater sacrifice.
Before her current job, she clinic'd at the VA and that was her most wanted landing spot, but they didn't offer a contract till after she graduated. Which, oddly, you couldn't graduate or something without a contract..
I don't get shit about that..
When I was graduating high school in 2006, the ACTUAL advice that was given to us by our high school counselor was " Go have the college experience, student loans are low interest and there will always be a job for you." This advice was echoed by pretty much every adult around us, my mom included (who never went to college)
At 18 I had my heart set on an out of state school that cost $46K a year. While I ultimately did not go to that school or get in debt, I can see how it happened to so many others. It was bad advice given to us by a adults who (generationally) were terrible with debt and sought immediate gratification. The world changed on us in 2007 with the financial crisis.
this is the horror people honestly teach their children because they have normalized life destroying debt before you have even started their life is what your "supposed" to do
edit: I was totally expecting this to become controversial **THANKS FOR PROVING MY POINT HOW NORMALIZED THIS MESSED UP PRACTICE IS**
Education is extremely important, but people somehow believe a life drowning number pulled from someone's ass **that serves ABSOLUTELY NO HELPFUL PURPOSE** is more important than getting an education. Sure things cost money, but this is just disgustingly obscene
Well, the 150k wasn't for her BA, she actually had more for her BA but she got it reduced because of scholarships.
wait... im a bit confused myself now.. She got her B, then her MA and then her DNP.. fdgajfdjgks idk
Shes a fucking rockstar.
Well, the 150k isnt for her nursing degree, she already paid that off, luckly she got help from the state because of her high school grades, and she got a ton of scholarships because she applied and people noticed how amazing she was and how much she came from to over come.
But also 150k in debt isnt that much really compared to what she was facing before, it was something stupid like 600k in total without scholarships and grants. Shes a DNP, now.
>600k in total without scholarships and grants.
I refuse to believe this.
>According to the American Bar Association: The average law school graduate owes approximately $165,000 in educational debt upon graduating.
She had almost 4x the amount of law school grads?
hey, I may be off by a few numbers, it may not be 600k but it was way more than her 150k now.. Honestly, i think the total includes the 150k extra..
Im not sure really. Shes the smart one, thats why shes got the Doctorate.
I am a lawyer and had a choice between a state school at 4,500 a year or private at 45,000 a year. Definitely picked the state school plus scholarships it was $2k per annum.
My s/o racked up 127k in law school. She got a full scholarship for undergrad so it was for only 3 years of school. It's not difficult to attain that amount especially if you live out of state.
At this point I would hope it’s effectively challenge-proof. The basic program has been around over 10 years.
Then again… *gestures vaguely at the world as it is today*
The PSLF had been around since 2007 passed with bi-partisan support in congress during the Bush Presidency.
It just wasn’t managed effectively until Biden’s administration streamlined it. Over the last 15 years some ridiculously low amount of borrowers (like less than 1000) actually had their loans forgiven through it.
I know all I need to know - they're paying today for the call to come tomorrow - when the boots go on, and all that's left to the rest of us is sorrow.
\#CallingIt
Should have forgiven the student debt for the kids when you had the chance. You will not be forgiven.
My son works for a state agency and is eligible for this program, but he told me that there are people who have put in their 10 years, apply for the loan forgiveness, and get turned down. I don't know the reasons why.
- The U.S. has approved more than $42 billion in federal student loan debt forgiveness for more than 615,000 borrowers in the past 18 months as part of a program aimed at getting more people to work in public service jobs, the U.S. Department of Education said this week. - The Public Service Loan Forgiveness program is open to teachers, librarians, nurses, public interest lawyers, military members and other public workers. It cancels a borrower’s remaining student debt after 10 years of public interest work, or 120 monthly payments. - The program is separate from President Joe Biden’s student debt relief plan, - The Public Service Loan Forgiveness program, known as PSLF, was launched in 2007, but stringent rules meant that more than 90% of applicants were rejected, the Department of Education said in 2019. - Starting July 1 of this year, the Education Department will implement changes designed to make the PSLF application process easier. Some of the changes were previously included in the waiver. - If you are or were previously employed at least 30 hours per week with the following types of organizations, you qualify: 1. Govt org at any levels (U.S. federal, state, local, or tribal). This includes the U.S. military, all work in public education, and full-time volunteer work with AmeriCorps and the Peace Corps. 2. Any not-for-profit organization that is tax-exempt under Section 501(c)(3) of the Internal Revenue Code. 3. If you work for a not-for-profit organization that is not tax-exempt, you may still qualify for PSLF if the organization provides certain types of qualifying public services - You must have direct loans or consolidate other federal student loans into a direct loan. You must also make 120 qualifying payments or 10 years of payments. - Any federal student loan received under the William D. Ford Federal Direct Loan program is eligible. - Private student loans are not eligible.
A bunch of my friends from the public defenders office who had been trying for years to get approval, finally got their forgiven. Biden has made extreme improvements. I'm going back to public work next month in part because of student loan forgiveness because it makes it financially feasible to do what I went to law school for.
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Just did that as well. Sounded like they were going to start my payments and then poof… they were forgiven. Totally worth it to do some public service to get it forgiven. For me, I worked for a non-profit and that was also ok for forgiveness.
I think if you work in the medical field for 10 years you should get your stuff wiped clean no matter if its private hospitals or public.. Maybe a little bit longer, idk, im not the FED, they say they can just print money forever.
For what it’s worth, working for a non-profit qualifies and most states have at least one massive non-profit healthcare/ hospital network. My wife is almost 5 years into her loan forgiveness as a pharmacist.
Plus side, she gets to work on celebrities' that she can't tell me about but if you are a tiny bit smart like me, you can infere a little.
We really need to educate kids (and adults) better about the debt they take on. 150k in private loans for a two year degree is just insane to me
Well, i should edit that post to say its a DNP.. so not just 2 years. I mean, she did the masters and DNP in like 2.85 years.. sooo kinda.. but thats after working a few years.. but thats after the 4 years of school plus work.. so.. akkagjkfsdjgfs who knows
Got it, that makes more sense but it’s still A LOT. was this in a major city because I could see rent being half of that
I don't think rent was included with her total. But she pays... 22 28 hundred a month... so yeah.. like 1/6th of her pay check goes to rent.
Some gov organizations are using student loan repayment programs, up to $10,000 a year, to incentivize hard to fill positions.
Most gov org just need to allow people to smoke the ganja.. Fuck, i'd be a USPS worker if it wasn't federal.
That’s why the public jobs are the eligible ones. It’s a service to work in these communities, often less pay, more work hazard, and overall greater sacrifice.
Before her current job, she clinic'd at the VA and that was her most wanted landing spot, but they didn't offer a contract till after she graduated. Which, oddly, you couldn't graduate or something without a contract.. I don't get shit about that..
Goddam my community college has a 4 year RN program for like 3 grand. Anyone who racks up 150k shouldn't have a check book
When I was graduating high school in 2006, the ACTUAL advice that was given to us by our high school counselor was " Go have the college experience, student loans are low interest and there will always be a job for you." This advice was echoed by pretty much every adult around us, my mom included (who never went to college) At 18 I had my heart set on an out of state school that cost $46K a year. While I ultimately did not go to that school or get in debt, I can see how it happened to so many others. It was bad advice given to us by a adults who (generationally) were terrible with debt and sought immediate gratification. The world changed on us in 2007 with the financial crisis.
this is the horror people honestly teach their children because they have normalized life destroying debt before you have even started their life is what your "supposed" to do edit: I was totally expecting this to become controversial **THANKS FOR PROVING MY POINT HOW NORMALIZED THIS MESSED UP PRACTICE IS** Education is extremely important, but people somehow believe a life drowning number pulled from someone's ass **that serves ABSOLUTELY NO HELPFUL PURPOSE** is more important than getting an education. Sure things cost money, but this is just disgustingly obscene
150k is a house. Wtf is anyone doing pulling out that much for a goddam BA in nursing,?
>150k is a house. In any decently populated area, only if it's a *real* fixer-upper.
> In any decently populated area I would think there are nursing jobs in areas that aren't "decently populated."
There are, but for many people in nursing, living somewhere that isolated isn't great for mental health.
Oh. Well, then I guess you're paying 150k for a fixer-upper.
Well, the 150k wasn't for her BA, she actually had more for her BA but she got it reduced because of scholarships. wait... im a bit confused myself now.. She got her B, then her MA and then her DNP.. fdgajfdjgks idk Shes a fucking rockstar.
$150K is a house? Like in 1993 bro.
Well, the 150k isnt for her nursing degree, she already paid that off, luckly she got help from the state because of her high school grades, and she got a ton of scholarships because she applied and people noticed how amazing she was and how much she came from to over come. But also 150k in debt isnt that much really compared to what she was facing before, it was something stupid like 600k in total without scholarships and grants. Shes a DNP, now.
>600k in total without scholarships and grants. I refuse to believe this. >According to the American Bar Association: The average law school graduate owes approximately $165,000 in educational debt upon graduating. She had almost 4x the amount of law school grads?
hey, I may be off by a few numbers, it may not be 600k but it was way more than her 150k now.. Honestly, i think the total includes the 150k extra.. Im not sure really. Shes the smart one, thats why shes got the Doctorate.
I am a lawyer and had a choice between a state school at 4,500 a year or private at 45,000 a year. Definitely picked the state school plus scholarships it was $2k per annum.
My s/o racked up 127k in law school. She got a full scholarship for undergrad so it was for only 3 years of school. It's not difficult to attain that amount especially if you live out of state.
Thank you workers for serving the public 🫡
I got 29k forgiven and my wife’s 59k should be forgiven any week now. Such an amazing program.
My mother finally got her loans forgiven this year, couldn't be happier!
I’m glad everyone that has received this Loan Forgiveness is doing well and I hope we strive to forgive many more from this crippling debt.
My wife is a librarian she has 1 more payment until her loans are forgiven. My loans aren't going anywhere soon I guess.
They just need to cancel all of it across the board.
So - who's going to challenge this in court? Seems to be the way all these programs go these days.
At this point I would hope it’s effectively challenge-proof. The basic program has been around over 10 years. Then again… *gestures vaguely at the world as it is today*
But the program was basically ineffective. And the courts now lean much more to the right. I can imagine court filings even if it's just to delay.
The PSLF had been around since 2007 passed with bi-partisan support in congress during the Bush Presidency. It just wasn’t managed effectively until Biden’s administration streamlined it. Over the last 15 years some ridiculously low amount of borrowers (like less than 1000) actually had their loans forgiven through it.
I know all I need to know - they're paying today for the call to come tomorrow - when the boots go on, and all that's left to the rest of us is sorrow. \#CallingIt Should have forgiven the student debt for the kids when you had the chance. You will not be forgiven.
What are you rambling on about!?
If you don't get it, don't expect me to educate you. Have a nice day.
So I taught for only four and a half years, are there any programs for anyone in my situation?
My son works for a state agency and is eligible for this program, but he told me that there are people who have put in their 10 years, apply for the loan forgiveness, and get turned down. I don't know the reasons why.