NEW YORK (AP) — More than 145,000 U.S. borrowers have had the remainder of their student loan debt canceled through the Public Service Loan Forgiveness program, and officials say many more likely qualify.
The program, launched in 2007 to steer more graduates to public service, cancels student debt after 10 years of public interest work, or 120 payments. Teachers, librarians, nurses, public interest lawyers, military members and other public workers can all apply.
The U.S. Department of Education has relaxed the complex rules for applying for the program, but only until Oct. 31. Here’s what you need to know if you want to apply:
WHO QUALIFIES?