99% Of Applications Denied In Federal Student Loan Forgiveness Program

The video discusses the temporary expanded public service loan forgiveness program, which aims to erase federal student loan debt for eligible borrowers. The Government Accountability Office analyzed data from May 2018 to May 2019, revealing a 99% denial rate due to a confusing application process. The program requires borrowers to apply for the original forgiveness program first. The Education Department plans to implement recommended changes to reduce confusion.

What are the main criteria for borrowers to qualify for the temporary expanded public service loan forgiveness program?

How many requests did the Education Department process for the program from May 2018 to May 2019?

What was the denial rate for the temporary expanded public service loan forgiveness program according to the report?

What is the significance of the $700 million appropriation from Congress in relation to the loan forgiveness program?

What changes did the Education Department recommend to help reduce confusion in the application process?