Ask the Times: College loans

Q. Is it true members of Congress, their staffers and their family members do not have to pay back their student loans?

A. Not true. Members of Congress enjoy a lot of perks, but student loan forgiveness is not one of them.

Some Congressional employees are eligible to have as much as $60,000 of student loans repaid after several years ? just like other federal workers. But that's not the case for members of Congress or their families.

The Department of Education will begin to provide forgiveness on direct federal student loans for employees (including Congressional staffers) who have worked 10 years in public service jobs, including federal, state and local governments, as long as those employees made 120 consecutive payments on those loans over a 10-year period.

The Public Service Loan Forgiveness program was created by the College Cost Reduction and Access Act of 2007 and applies only to payments made on direct federal loans after Oct. 1, 2007. That means the earliest federal employees can benefit from the program is Oct. 1, 2017.

Source: http://www.mywebtimes.com/archives/ottawa/display.php?id=468891

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