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The U.S. Department of Education approved a mere 1 percent of initial Public Service Loan Forgiveness applications, but experts say the approval rate should increase over time.
October 11, 2018 at 04:23 PM
1 minute read
Early numbers from the federal government’s Public Service Loan Forgiveness program look grim.
Of the roughly 28,000 borrowers who applied to have their loans forgiven this year, a mere 289 were approved—or about 1 percent—and just 96 borrowers actually had their loans discharged.
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