Student loan forgiveness program is a ‘scam,’ financial expert Dave Ramsey says
Best-selling author and financial expert Dave Ramsey called the Public Service Loan Forgiveness (PSLF) program a “scam ” on “Mornings with Maria” Thursday, noting that only 2% of applicants get approved for relief.
“98% of the people that applied for that so far have not gotten forgiveness, only 2% – that’s known as a scam,” Ramsey said of the of the U.S. Department of Education data (DOE).
The department revealed that $7.1 billion was canceled for disabled borrowers and $1.1 billion for students misled by fraudulent institutions.
“The $11.5 billion was a normal course of business,” Ramsey told FOX…