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Smith touts reforms to loan forgiveness program

During a virtual press conference Friday, U.S. Sen. Tina Smith (D-Minn.) outlined new reforms to a federal student loan forgiveness program that denied benefits to tens of thousands of borrowers in Minnesota and across the country who took public service jobs with the promise of having some of their federal loans forgiven.

The senator, a member of the Senate Education Committee, was joined in the press conference by Minnesotans in public service who now will be able to get promised loan forgiveness with the new reforms being put in place. Also joining were advocates who will discuss the financial impact the loan forgiveness will have on people around the state.

The Public Service Loan Forgiveness (PSLF) program began in 2007, promising those who worked in public service for 10 years while making qualifying loan payment some student loan forgiveness. As of this spring, 98 percent of people who applied have been denied relief under the program.

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