99 percent student loan forgiveness appl denied (ASL – 9.6.19)

Transcript

A newly expanded federal loan debt forgiveness program has rejected almost all of its applicants.

The government accountability office released a report Thursday saying 99 percent of requests for federal student loan forgiveness were denied.

Of the more than 53,000 applications, 661 were approved.

Congress set aside $700 million in 2018 to expand the program.

The move was in response to the low number of people qualifying for forgiveness.

The program is meant to help borrowers working in the public sector like teachers and social workers.

However it requires a borrower to have first applied and been rejected to the original program.

This new report says about 71 percent of those who were rejected had not done so, creating a confusing process for borrowers.

The Closed Caption version of this video can be found here:
https://sign1news.com/2019/09/06/sign1news-9-6-19/

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