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Budget Cuts Series: Student Loan Forgiveness Program For Teachers, Nurses, Police Officers
For over two years, Smart Dissent's Budget Cuts Series has exposed Trump's proposed budget cuts, finding savage proposals hidden beneath the surface. The Trump White House proposed their third budget in mid-March 2019 but it's been insanely hectic since then so our Series has a lot to catch up on during April and May 2019.
In today's Budget Cut Series, Trump's budget would eliminate the Public Student Loan Forgiveness program – the program that helps America’s public school teachers, nurses, police officers, & other public servants with their student loan debt.
Trump's 2020 budget proposal calls for eliminating a loan forgiveness program for public employees and advocates other changes that could cost struggling students more.
.... elimination of the Public Service Loan Forgiveness program, which was created under Bush in 2007. The program forgives student loans for workers in the government and some nonprofits after they make payments for 10 years.
Poof, gone.
The Consumer Financial Protection Bureau estimates that up to one-quarter of American workers could be eligible.
“Eliminating public service loan forgiveness will hurt members of the U.S. Armed Forces, police, fire, EMTs and other first responders,” said Mark Kantrowitz, the publisher of SavingForCollege.com. “It will also reduce the number of people pursuing careers in public interest law, such as public defenders and prosecutors.”
On top of this, the Education Department budget is significantly cut as well.
The president's budget also suggests for additional education cuts, including.... A reduction of $7.1 billion — or 10 percent — of the Education Department's budget, leaving it with $64 billion in funding.... Eliminating subsidized student loans, which could raise costs for borrowers.
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