A deadline is fast approaching for teachers, librarians, nurses and others who work in public service to apply to have their student loan debt forgiven
A spokesperson for the Education Department said Wednesday that most borrowers who were denied then were deemed ineligible because they didn’t meet employer eligibility requirements, their employment dates didn’t align with the dates of their student loans, or they didn’t have the required direct loans.
The Public Service Loan Forgiveness program, launched in 2007 to steer more graduates to public service, cancels federal student loan debt after 10 years of public interest work, or 120 payments. Teachers, librarians, nurses, public interest lawyers, military members and other public workers all qualify, along with people who work for non-profits.
“I think it’s a great incentive, especially for teachers. So many are overworked and underpaid, and they’ve got those loans that they’re still working on,” Martinez said. Martinez encourages others to apply during the waiver period, despite the frustration. She says it was worth the time and effort to get the balance of her student loan forgiven.Borrowers who are currently jobless or not working in public service may still qualify for forgiveness, according to the Department of Education.
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