PSLF eliminated by Trump

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jstanhope14

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PSLF eliminated by Trump

Postby jstanhope14 » Mon Feb 12, 2018 8:59 pm

Trump’s proposed 2019 budget would eliminate PSLF. Will this stay in the final budget? https://www.cnbc.com/2018/02/12/trumps- ... ogram.html

bokampers

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Re: PSLF eliminated by Trump

Postby bokampers » Tue Feb 13, 2018 1:45 am

Obviously no way of knowing for sure -- but my guess is no. This proposal isn't law until Congress votes on it. As it stands, this would be extremely difficult to pass due to narrow margins. And depending on how the 2018 midterms go, it might even become impossible.

I wouldn't worry about this until it becomes more imminent. In any event, it seems that the change(s) would only affect loans taken out after mid 2019 (not including those borrowed for finishing a program). That means that if you are in law school now, or will start at any point before mid 2019, the PSLF + IBR should still be available to you.

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Johann

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Re: PSLF eliminated by Trump

Postby Johann » Tue Feb 13, 2018 9:37 am

its important to stay abreast of the developments, but theres not much to worry about at this point as its very early on in the process. i dont think they have the votes to do anything.

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Gemini

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Re: PSLF eliminated by Trump

Postby Gemini » Tue Feb 13, 2018 12:16 pm

The article is so vague. It addresses that people can be grandfathered into their loans if they took them out before 2019 but does this grandfathering extend to the PSLF? Or is it just automatic elimination of the program for every borrower, even those currently paying off their loans?

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White Dwarf

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Re: PSLF eliminated by Trump

Postby White Dwarf » Sun Feb 18, 2018 11:18 am

The Obama administration proposed capping PSLF loan forgiveness at $57k(?), so this is definitely coming in some form at some point.

The program does need to be reformed (no $ cap + ridiculously broad job coverage = tremendous waste of taxpayer money), but hopefully there's some more thought put in than just straight repeal.



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