May clergy qualify for Public Service Loan Forgiveness?
Yes, as long as they spend at least 30 hours a week engaged in activities “unrelated to religious instruction, worship services, or any form of proselytizing.” How do we know? The statute and regulations governing Public Service Loan Forgiveness are clear: The statue establishing Public Service Loan Forgiveness specifies that employment for a 501(c)(3) organization qualifies. Churches have status as 501(c)(3) organizations. The regulations governing administration of Public Service Loan Forgiveness assert that a 501(c)(3)…
Student loan servicers screwing 30 percent more troops and counting
When will the loan servicers stop the nonsense? Why isn't the Department of Education holding their feet to the fire? Consider this. The Department of Justice (Justice, not Education), documented that Sallie Mae has been overcharging interest to active duty members of the military since 2005, in violation of the servicemembers Civil Relief Act (SCRA). According to the Federal Deposit Insurance Corporation (FDIC), Sallie Mae also illegally maximized borrower’s late fees and misrepresented how borrowers…
