AIG Retirement Services Study Finds Strong Awareness but Minimal Understanding of Public Service Loan Forgiveness Program
Retrieved on:
Wednesday, February 24, 2021
Insurance, Human resources, Finance, Continuing, Professional services, University, Education, Training, Student loans in the United States, Money, Finance, Debt, Public Service Loan Forgiveness, Economy, Loans, Student debt, Student loan, Debt relief, United States Department of Education, Pay as You Earn
AIG Retirement Services, a leading retirement plan provider for tax-exempt and public sector employers, today announced the results of a new study looking at how nonprofit and public service employees think about student loan debt, student loan forgiveness and the Public Service Loan Forgiveness (PSLF) program.
Key Points:
- AIG Retirement Services, a leading retirement plan provider for tax-exempt and public sector employers, today announced the results of a new study looking at how nonprofit and public service employees think about student loan debt, student loan forgiveness and the Public Service Loan Forgiveness (PSLF) program.
- While 90% of public service employees with college debt indicate awareness of the program, 70% exhibit only a minimal understanding of its rules and requirements.
- With these concerns as the backdrop, public service employees see the PSLF program as a lifeline critical to their financial wellbeing.
- Only 12% of public sector employees who are carrying student loan debt receive information from their employer about the Public Service Loan Forgiveness program.