The Student Loan Forgiveness Program isn’t Working
Ninety-nine percent of loan-forgiveness requests under that new Temporary Expanded Public Service Loan Forgiveness (TEPSLF) were rejected during the program’s first year, from May 2018 to May 2019. According to the review out Thursday, conducted by the Government Accountability Office, the U.S. Department of Education processed roughly 54,000 requests and approved just 661. It spent only $27 million of the $700 million Congress set aside for the expansion.
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