General Admissions & OTCAS Trump Proposes Ending Public Service Loan Forgiveness Program

[occupationalguy]

The president has proposed a new budget which totally eliminates the Public Service Loan Forgiveness Program. They could have modified it a bit to maybe place an income cap on the program (rich doctors getting loans forgiven isn't exactly what the program was started for). Instead, the current administration is proposing totally eliminating the program.

I'm not sure what will happen to people grandfathered in, or if they will be grandfathered in. There is a debate that we are all grandfathered in based on the program being in our promissory notes. Lawsuits will fly like crazy, that much we can be sure of.

I'm not advocating any particular political view point, but this is very shocking to see this program yanked from under our feet. I can say that I won't be drawn to work in a non profit setting if this program is eliminated. If the program survives your loans are forgiven after 120 months of payment while working at ANY non profit (hospital, clinic etc). You can work at multiple institutions over time, as long as you have 120 months of income adjusted payments while you work at a non profit.

We get the government we advocate for. Students have to rise up and demand the government keeps it's end of the bargain.

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[cactusflowerblossom]

I read about this. If I won't be getting loan forgiveness than I'll need to go for the highest pay, and if that is a for-profit place then so be it. Still, it might not happen...

 

[slpOT]

All of my loans for school have been federal grad plus, in hopes that I could use this system to ease the financial burden. As it turns out, my FW2B site appears to be my dream job - a nonprofit that works with extremely neurologically-involved youth. However, if I were to magically be offered a job there following graduation, I honestly don't know how feasible it would be to accept it with the responsibility of my loans on a lower income...

Side note: AOTA makes it super easy to send letters to your representatives based on the issues you want to advocate for
AOTA - Legislative Action Center

 

[occupationalguy]

GOOOOOD NEWS EVERYONE -

A court ruled that ONLY an act of congress can change the program since it is in our Promissory terms in our loans. GOOD LUCK GETTING OUR DO NOTHING CONGRESS TO ACTUALLY REPEAL this program. People will go nuts on them, and we ALL SHOULD CALL OUR CONGRESSIONAL REPS if repeal of this program is up for a vote. I highly doubt it will happen now that it requires an act of congress.

Thank God for the courts.