ains the bulk of state-funded student scholarships, loan forgiveness programs make up an important part of our financial aid landscape. Loan forgiveness is an incentive typically used to recruit and retain individuals to high-need occupations or geographic areas. Loan forgiveness programs either provide student loans during school which can be forgiven if a service obligation is met (in-school programs) or offer repayment towards existing student loan debt if the individual practices a profession in certain places or fields (on-the-job programs).While not all programs were created with the intention of reducing a workforce shortage, a recent performance audit found that the programs that are intended to address workforce shortages are not always well targeted and their continued need is not routinely assessed with clear performance measures.
Loan forgiveness audit