The PSLF had just an approximately 1% approval rate of eligible applications by the end of 2018. Notably, the program was established in 2007, and the first wave of eligible applications occurred in 2017. As of September 2020, 229,215 applications had been submitted and only 5,069 applicants had been deemed eligible. Of those approved, $260,487,126 in student loan debt had been forgiven.

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