Most Applicants for the Public Service Loan Forgiveness Program Are Facing Rejection
Many individuals relied on the Public Service Loan Forgiveness Program in order to pursue qualifying jobs in public section including firefighters, military service members, nonprofit workers and others. However, according to the Department of Education only 1% of those applying for forgiveness of their student loans have been approved, leaving 99% without resolution and rejection. Much like the loan modifications for mortgages after the mortgage crisis, many individuals were told that if they make qualifying student loan payments for 10 years, their remaining student loan debt will be forgiven, but only after doing so are told that they are in the wrong repayment plan to qualify for the Public Service Loan Forgiveness program. The Consumer Financial Protection Bureau has sought to intervene on behalf of borrowers but the Department of Education refuses to provide information to it which has prevented any action on the issue. Andersen Sleater Sianni's attorneys represent consumers who have been mislead and suffered damages from corporate wrongdoing. Click here to read more about the problems with the Public Loan Forgiveness Program.