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2020 Democrats want to overhaul a student-loan forgiveness program for public servants

If a Democrat wins the White House in 2020, a revamp of the beleaguered student-loan forgiveness for public servants could be on the table.

Many of the leading candidates are backing a plan that would expand the loan and repayment types eligible for the Public Service Loan Forgiveness program (PSLF) and allow borrowers to have part of their loan balance forgiven after five years, instead of waiting for 10 years to qualify for a full loan discharge.

Given that 44 million Americans carry $1.5 trillion in student-loan debt, it’s perhaps no surprise that politicians are looking for ways to address it.

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