New Law Discourages Loan Repayment

The Macaca Post reports:

Public service employees -- federal workers, soldiers, nurses, firefighters and others -- will have an opportunity to qualify for student loan forgiveness under a law signed by President Bush yesterday.

The law forgives outstanding education debt for public service employees who have made 10 years of monthly payments on their loans while serving full-time in government, public education or other positions related to public service.

The loan-forgiveness provision of the law [took] effect Monday, which will start the clock ticking on when the government will take responsibility for paying outstanding debt...

There's no reason to pay off debt if someone else will do it for you.