The Student Loan Forgiveness Act of 2012, which was proposed March 8, would create a 10/10 loan repayment plan. The law would also create incentives for graduates to enter public service professions such as teaching and firefighting, and medical professionals would be rewarded for working in underserved communities. In these cases, debt would be forgiven in five years instead of 10 years.
Why is this important?
The amount of student debt across the nation is on the rise as the costs of higher education increase. The bill would allow fellow teachers and public service employees to ease the burden of student loans and focus their time on what really matters...public service. This would help teachers to focus on educating youth and providing more support for instructional materials.
