College Grads Working in Public Service Jobs May Not Receive Intended Loan Repayment Benefits

A plan put in place by President George W. Bush in 2007 (The Public Service Loan Forgiveness Program) that was meant to provide some student Loan forgiveness to those employed for ten years as teachers and other lower paying public service jobs may not have the intended result as the first round of applicants becomes eligible next year. Administrative obstacles and the government’s use of an unreliable statistical model for income driven repayment are likely to curb eligibility for most applicants. Attorney David R. Chenelle has forwarded this story with more information: