US to overhaul student debt relief for public service program

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The U.S. Department of Education announced sweeping changes to its public service loan forgiveness program.

The program, created to entice workers to take jobs like teachers, nurses and firefighters with the promise of student debt forgiveness, for years has been plagued with problems and complaints from borrowers and government watchdogs.

Eligibility for the program is stringent, based on borrowers making 10 years of so-called qualifying payments. The vast majority of applicants are denied — with only 2 percent of applications between Nov. 9, 2020, and April 30 deemed eligible.



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