Are We Forgiving Too Much Student-Loan Debt?
But while advocates see Public Service Loan Forgiveness as an extension of that goal, others see a program with several loopholes—one that could allow borrowers to forgo dangerously large amounts of debt while leaving taxpayers to pick up the tab. What’s different this time around? Much of the controversy comes down to two key features of the program, which will begin forgiving loans in 2017. First, unlike its predecessors, it puts no cap on how much money can be forgiven. Second, its broader eligibility requirements could make forgiveness available to more people, in more jobs, than ever before.