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Seth Frotman, formerly the top student loan watchdog at the Consumer Financial Protection Bureau, saw the havoc that was coming for borrowers and tried to get the government to fulfill its promise under the Public Service Loan Forgiveness program. The pitch was that student borrowers who worked for 10 years in public service and made 120 monthly payments would have the outstanding debt forgiven.

Recent data proved that Frotman was right to be concerned. Only 1 percent of applications for loan forgiveness are approved.

NPR readers told us stories of their struggles with the program, including issues with the loan servicers. “I have no idea how I am supposed to give my kids a future,” Erik Carlton of Tennessee wrote in an email. “Because I can’t save for theirs. I can barely pay for their present.”

Thank You Betsy DeVoss!


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