Loan forgiveness program could hold future reward for CU employees

A federal student loan forgiveness program offers potential help to University of Colorado employees who stick with their public service profession for 10 years.

The Public Service Loan Forgiveness Program, created by Congress in 2007, encourages people to enter and continue to work full-time in public service jobs, including universities.

Borrowers may qualify for forgiveness of balances due on eligible federal student loans after having made 120 monthly payments — and while being employed in a public service job. Because the first eligible monthly payment had to have been made after Oct. 1, 2007, the earliest cancellation of loan balances won't take place until October 2017.

For more information on the loan forgiveness program, click here.