States Trim Loan Forgiveness Programs in High-Demand Fields

May 27, 2009

Several states are cutting back the payments they make to help residents pay back student loans they took out to enter high-demand fields such as teaching and nursing, The New York Times reported. The loan forgiveness programs are typically sponsored by state lending agencies and nonprofit organizations in the student loan industry whose ability to finance the programs is impaired by the industry's shrinking revenues, the newspaper reported.

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