Trump looks to kill student loan forgiveness program

Authored by cnbc.com and submitted by bigjawgiggy
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As student debt continues to climb, President Donald Trump on Monday released a budget for 2021 that would slash many of the programs aimed at helping borrowers.

Student loan spending would be cut by $170 billion in Trump's plan, titled "A Budget for America's Future." The reductions include "sensible annual and lifetime loan limits" for graduate students and parents and the end to subsidized loans, in which the government covers the interest for borrowers who are still in school or experiencing economic hardship.

It would also reduce the number of repayment options for borrowers and nix the popular, if challenged, public service loan forgiveness program.

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That program, signed into law by President George W. Bush in 2007, allows not-for-profit and government employees to have their federal student loans canceled after 10 years of on-time payments. The Consumer Financial Protection Bureau estimates that up to one-quarter of American workers are eligible.

mullingitover on February 10th, 2020 at 21:45 UTC »

A lot of very educated people are working in government for less than they'd make in the private sector based on the promise of loan forgiveness. This is a great way to ensure we have dumber government, which then completes the self-fulfilling prophecy of government not being good at stuff. Good job republicans.

Reddit_guard on February 10th, 2020 at 21:38 UTC »

Surely this will win over young voters lol

Alluneedrsmiles on February 10th, 2020 at 21:38 UTC »

It must be exhausting thinking up new ways to be a dick every day