Date: May 18th, 2017 6:40 PM
Author: Frum brethren
lol, same shit will happen to IBR/PAYE. No way the government takes all this unpaid student loan debt on the chin.
http://money.cnn.com/2017/05/18/pf/college/betsy-devos-public-service-loan-forgiveness/index.html
More than 400,000 student loan borrowers may have placed their faith in a government program with an uncertain future.
The Public Service Loan Forgiveness Program promises to cancel any remaining student debt for those who work for the government or nonprofits if they have been making on-time payments for 10 years. Many teachers, public defenders, Peace Corps workers, and law enforcement officers fit the qualifications.
This October marks the 10th year of the program and the first time anyone will have made enough payments to get their debt wiped away. It's unclear how much the program will cost the government when its starts to forgive those debts.
The program has been shrouded in some uncertainty for months.
On Wednesday, the Washington Post reported that the Department of Education is planning to propose ending the Public Service Loan Forgiveness Program.
The article was based on budget documents obtained by the Post. A public version of the department's budget is expected to be released next week. Congress would have to approve the department's proposed changes for them to take effect.
It's unclear whether the Trump administration may propose ending the program for future graduates, or end it for those who have already applied and made qualifying payments.
The Department of Education did not respond to CNNMoney's requests for comment, and "had no immediate comment" for the Washington Post.
"It would be absolutely detrimental to those of us who have planned our lives around this program. It would be the equivalent of pulling the rug out from under us," said Daniel J. Crooks III, a government attorney who is expecting loan forgiveness from the public service program in six years.
He currently has more than $300,000 in student debt -- after making payments for the past four years. He's moved states to get a better job that still qualifies him for the debt relief.
Education Secretary Betsy DeVos has said little on the issue of student debt. She praised President Trump's "skinny" blueprint budget released in March for including an additional $1.4 billion in school choice programs.
(http://www.autoadmit.com/thread.php?thread_id=3618932&forum_id=2#33338961)