These students are gravely mistaken. That debt stays with you forever until it’s paid off.
The Daily Caller reported:
Half Of America’s College Students Believe The Federal Government Will Forgive Their Loans
Nearly half of all America’s college students have deluded themselves into believing that the federal government will graciously forgive their student loans despite the fact that the federal government forgives only a very low percentage of student loans.
LendEDU, a student loan marketplace website, documented this startling disparity between belief and reality in a nationwide survey of 500 students currently attending America’s colleges and universities, reports the New York Post.
The survey shows that 49.8 percent of the students surveyed think they will be eligible for federal student loan forgiveness.
In reality, only about 10 percent of all college graduates will ever see any portion of their student loans forgiven under current loan forgiveness law.
In order to qualify under forgiveness programs, student loan borrowers must either take specifically-identified public service jobs for a long period of time or teach in schools in poverty-stricken and under-served areas of the country.
Two other ways to receive federal forgiveness on student loans are to become permanently disabled and to die.
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