Nearly 4,000 longtime student loan borrowers in Utah are finally getting what they’ve been promised: forgiveness.
unearthed the severe mismanagement by loan servicers and the Department of Education, finding that most servicers had no idea when borrowers had become eligible for forgiveness.
Officials cited “historical failures in the administration of the Federal student loan program” that didn’t accurately track borrowers’ payments. Millions had earned forgiveness but never received it. “Now, the Department is ensuring all borrowers have an accurate count of the number of monthly payments that qualify toward forgiveness and is discharging the loans of borrowers who have met the requirements,” officials said in the release.
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