"Both Sembach and Williams hold 6-figure student-loan balances from their educations. They're counting onthe Public Service Loan Forgiveness program, which relieves student debt for government and nonprofit workers after 10 years of qualifying payments. The program, which started in 2007, has wiped out billions of dollars in debt over the past few years, but changes are looming. President Donald Trump signed an executive order in March calling on the education secretary to redefine what "public service" is."
"They're passionate about their jobs in the public sector, and thepromise of student-loan forgiveness was an added bonus. "I felt compelled to serve the public," Sembach told Business Insider. "I worked long hours with a ton of stress to ensure that my clients received not only adequate representation, but superb representation, because I knew that their lives were on the line and it was important to them. So it was important to me.""
Two public-service workers, a public defender and a nurse, hold six-figure student-loan balances and relied on Public Service Loan Forgiveness after years of qualifying payments. The program, created in 2007, has eliminated billions in student debt for government and nonprofit employees after ten years of payments. A March executive order directed the education secretary to redefine "public service" to exclude employers engaged in activities deemed "anti-American," and an August proposed rule acknowledged some borrowers could lose credit toward forgiveness if employers are ruled ineligible. Borrowers say high interest rates and repayment changes complicate obtaining relief.
Read at Business Insider
Unable to calculate read time
Collection
[
|
...
]