This shift in perspectives on debt enabled some immediate reforms. Previously overlooked corruption, fraud, and abuse perpetrated largely by for-profit colleges, servicers, education start-ups, accreditors, and even traditional colleges drew investigations and lawsuits.[114] Many of the most impactful lawsuits were brought by the offices of state attorneys general.[115] At the same time, in 2007, as the mortgage crisis was still unfolding, Congress passed the College Cost Reduction and Accessibility Act, which created the Public Service Loan Forgiveness (PSLF) program and the Income-Based Repayment (IBR) program. The former provided that borrowers who worked in public service jobs could have their debts canceled after ten years if they…
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