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Background

The Public Service Loan Forgiveness program (PSLF) was signed into law by former President Bush on September 27, 2007. The program was created to “. . . encourage individuals to enter and continue in full-time public service employment by forgiving the remaining balance of their Direct Loans after they satisfy the public service and loan payment requirements.” By implementing this program, Congress was trying to ensure that those student loan borrowers with high balances could afford to enter into and continue in a career in public service if they chose to, despite such jobs often paying less than similar, private sector careers.