Why Public Service Loan Forgiveness Is So Unforgiving

You moved me to look at my own MyFedLoan account. Turns out, 11 months inmy low paying federal job + 11 qualifying payments is being calculated as 0 - 1, depending on the loan. I've $100k+ fed. loan debt, in the correct repayment plans. All to be a public health epidemiologist.

I've been reading about the 99% for months. Yesterday, you moved me to look at my FedLoan account. Turns out, my federal (read: def qualifying) job and 11 qualifying payments thus far is being calculated as 0 - 1. So much for the good of public health.

I did not overpay. I did not pay ahead. I have an automatic deduction from my savings every month for the exact amount.

Just talked to FedLoan today. I had asked for a manual recalculation on my PLSF in April 2018. No one has looked at my account and they could give me no time frame in which someone could look at my account. I should have 53 payments, but because they claim I overpaid, it is 45.

Protman’s findings are no surprise. Incompetence and greed at student loans servicers, and gross mismanagement by the Department of Education have been recurring events in the student loan industry since the early 1990s.

Just a great big scam to keep us in low paying jobs, dangling a promise abive our heads like a carrot that we'll never reach. $60,000 in debt hanging over my head where every payment I make doesnt even reach the balance only the interest.

What’s new? Big business wins again.

This mayhem was created and festered during 8 yrs. obama admin, and ultimately carried forward into a nightmare for trump admin. Of course nearing mid terms, biased NPR runs article that does NOT include mentioning problem grew + went unresolved under the Obama admin.

vjhoff57 Shocker

We appreciate your insight and courage

The problem isn't with the bank loans. It's with university tuition increasing at 300% the rate of inflation for the last 30 years. But universities are run by left wingers, so we're just going to ignore that.

Same ol Democratic policy....vote for me and get free stuff....If this works I want all my loans forgiven also...What a scam.

Screw you Devos

The US higher education system is becoming a total con. You can attend some of the most prestigious schools in the world for practically nothing, but only in America will an education place you in debt for the rest of your life.

Imagine the economic shot in the arm the US would experience if student loans were forgiven en mass, or at least reduced by, say, 66%. Of course this kind of large-scale economic overhaul will never happen. Extortion is too profitable.

Everyone saw this coming the second Betsy DeVos climbed out of her coffin and into the administration.

Well, you have to protect the poor lenders and loan servicers from predatory student borrowers.

NPC radio I think the one on the left is too complicated for your listeners. You just serve the same crap month after month.

I sure hope college students turn out to vote blue next month. This is the worst administration I've ever experienced.

...as DeVos rides off on one of her hundred million dollar yachts...

DanielleDegno

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Similar News:You can also read news stories similar to this one that we have collected from other news sources.

'I Am Heartbroken': Your Letters About Public Service Loan ForgivenessNPR received dozens of comments from aggrieved borrowers responding to news that, over the past year, 99 percent of applications for the Public Service Loan Forgiveness program were denied. Not a shock given current administration. Need a student loan revolution or overhaul next decade or economy is doomed. How the hell will any of us be able to afford a home? Keep cutting those corporation taxes and allow private jet deductions though I’m currently in this program but I’m switching to another qualifying position and I really hope it doesn’t get messed up in the process. Pay your debts.
Source: NPR - 🏆 96. / 63 Read more »

She was denied public service loan forgiveness, so she filed a lawsuitShe was in a government program in which public servants can get student debt cancelled after 10 years. Or so she thought... All student loans should be forgiven. Education is a right. Not a perk of being born wealthy. This is messed up. I hope they all come together and make it a huge class action suit.
Source: CNBC - 🏆 12. / 72 Read more »

More than 40,000 people have applied for public service loan forgiveness — 206 were approvedWith the help of a student loan expert, we've addressed some of the most common misunderstandings about the public service loan forgiveness program.
Source: CNBC - 🏆 12. / 72 Read more »

Why people are being denied public service loan forgivenessEducation Department says many rejected applicants have the wrong type of loan to qualify. 'We're sorry, sir, but you have the 'oh shit you're screwed loan'. Too bad!'
Source: washingtonpost - 🏆 95. / 72 Read more »

Student Loan Forgiveness Program Rejects 99% Of ApplicantsOnly 96 applicants who applied for public service loan forgiveness have been approved. Betsy Devos😡
Source: Forbes - 🏆 394. / 53 Read more »

Just 206 of 41,000 student applicants had loans discharged under the government’s loan forgiveness program41,000 students applied to have their loans discharged by the government. Only 206 were accepted
Source: MarketWatch - 🏆 3. / 97 Read more »