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Major overhaul to student loan forgiveness. Who gets their debts erased?

Since 2007, public servants have been eligible to have their student loans wiped to zero. Over 90% of applicants were rejected.

CHARLOTTE, N.C. — A major overhaul is coming to student loan forgiveness. So who gets their debts erased?

Let's connect the dots.

Since 2007, public servants have been eligible to have their student loans wiped to zero. That's people like first responders, military members, nurses and teachers.

The government said all they had to do was make monthly payments, and work in those jobs for 10 years.

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Sounds simple right? Turns out not so much.

In practice, the program's rules were complicated and incredibly specific with only certain types of loans eligible to be forgiven. That led to thousands of people who thought they were getting a break, being saddled with debt.

The U.S. Department of Education said over 90% of the people who applied for the program were denied.

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That's where this overhaul by the Biden Administration comes in. They are temporarily relaxing those rules and accepting all types of student loans.

That means for the next year, any public servant who has met the 10-year requirement truly can have their debts wiped to zero. You can use this tool to find out if your employer qualifies for the Public Service Loan Forgiveness program.

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