Bureau spotlights public service forgiveness of student loan debt

In connection with its public event on student loan servicing in Raleigh, North Carolina, today, the Consumer Financial Protection Bureau has released a report spotlighting complaints from borrowers about student loan servicers mishandling Public Service Loan Forgiveness. The Public Service Loan Forgiveness program provides people in public service jobs with a path to debt forgiveness after 10 years, with the first borrowers eligible in October 2017. According to the Bureau's press release, Borrowers report that servicers delay or deny access to loan forgiveness through wrong information about their loans, flawed payment processing, and bungled job certifications. The CFPB also issued updated guidelines to prioritize oversight of servicers’ administration of the Public Service Loan Forgiveness program. The Bureau also launched a “Certify Your Service” campaign to help public servants stay on track for federal loan forgiveness.