Here’s Why So Many Americans Feel Cheated by Their Student Loans

But she had some hope: Her job in public policy is considered “public service” — one of thousands of jobs, in both the government and the nonprofit sector, that would make her eligible for eventual student loan forgiveness through a program called PSLF (Public Service Loan Forgiveness). The premise of PSLF, which was passed by Congress and signed into law by George W. Bush in 2007, is straightforward: Working in public service doesn’t pay a lot, and a lot of public service jobs — including teaching and social work — require advanced degrees, which in turn often necessitate hefty student loans. From the beginning, the PSLF program has presented itself as deceptively simple: Get on an income-based repayment plan, work in public service for 10 years while making monthly payments, and the remainder of your student debt will be eliminated.

Source: www.buzzfeednews.com