More than 74,000 federal student loan borrowers are stuck in a backlog of applications for a popular student loan forgiveness program.

That program, called Public Service Loan Forgiveness Buyback , allows borrowers pursuing PSLF to get their debt wiped away sooner than they might have expected. Signed into law in 2007 by President George W. Bush, PSLF offers debt cancellation to those who've spent a decade working for certain not-for-profits or the government.

As of Aug. 31, there's a 74,510-person backlog of borrowers waiting to have the U.S. Department of Education process their buyback applications, according to a new court filing . That's up from 72,730 in July and 65,448 borrowers as of the end of June. During the month of August, just 5,600 buyback applications were proce

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