Is tax money used? Is anyone profiting from the program? Do colleges lose money? Please don’t make this political. I’d genuinely like to understand without all the talking point bullshit.
In: Economics
There are two main ways:
https://www.law.cornell.edu/cfr/text/34/685.209
Public student loan forgiveness, which after 10 years of repayment while employed with a qualified employer (government, 501c3, etc.), your loans are forgiven.
IDR Forgiveness: after 20-25 years of repayment on income driven repayment plans (IDR), loans are forgiven pursuant to the terms of your IDR plan. This doesn’t require any employment by a government agency or not for profit organization.
This isn’t the government just arbitrarily deciding that they want to forgiven debt as others have implied.
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