Senators Press CFPB To Dig Into Problems With Public Service Student Loan Program

Florida News

Updated at 5:28 p.m. ET Four U.S. senators told the head of the nation’s top consumer protection agency Thursday that they want her to launch examinations into serious problems with a program designed to offer loan forgiveness to public service workers. An NPR story this week revealed that the Consumer Financial Protection Bureau attempted such examinations but was thwarted by the Trump administration’s Department of Education. At issue is the Public Service Loan Forgiveness Program, which aims to help police, military service members, teachers, people who work at nonprofits and others. If they make qualifying payments for 10 years, the program promises to forgive the remainder of their student loan debt. But the program is rejecting 99% of people who think they have done that when they apply to get their loans forgiven. “According to a recent NPR report, in 2018 the CFPB launched an effort to find out why the program is failing our public servants, but Secretary [Betsy] DeVos’

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