Hundreds of thousands of Coloradans who are current or former public servants could be eligible for federal student debt forgiveness under a revised loan waiver that should make it easier to qualify — but time is running out to apply, state officials warn.
“This program, historically, really hasn’t worked very well,” said Kelsey Lesco, Colorado’s student loan ombudsman with the state attorney general’s office. “It was designed to provide relief for borrowers who worked full-time for public service employment but it really fell short of that. Approval rates ranged between 1% and 3% for this program. This waiver was designed to rectify some of those systemic problems this program has had.
Lesco said this information wasn’t communicated well, meaning some public servants would work for 10 years to reach the number of qualifying payments needed to apply for loan forgiveness only to find out they had been in the wrong payment plan all along and that their years of service didn’t count. The most recent estimate Lesco has for how many public servants in Colorado could be impacted by the change is 2016 data that shows there were 133,000 government employees and 25,000 nonprofit employees in the state.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Twisty device explores alternative path to fusionIf the 16-meter-wide device, called a stellarator, can match or outperform similar-size tokamaks, it could cause fusion scientists to rethink the future of their field.
Read more »
How do Coloradans apply for student loan forgiveness?About 700,000 people who have student loan debt in Colorado are expected to benefit from the Biden administration’s student debt cancellation program announced last month, according to the Co…
Read more »
Here’s the Latest in the Eliza Fletcher Abduction and MurderThe man suspected of murdering the 34-year-old teacher should be arraigned on Wednesday; running community plans to “Finish Liza’s Run.”
Read more »
'It does make me nervous': female runners talk safety after abduction, killing of Tennessee runnerThe reported kidnapping and murder of a Tennessee teacher while she was on a morning run is prompting other female runners to share their fears and frustrations about running solo.
Read more »
Indiana will tax loan forgiveness, similar to other statesIndiana will tax student debt relief as income, reflecting similar policies in other U.S. states following the Biden administration's announcement of a forgiveness plan last month.
Read more »