Navy or Army HPSP in 2016??

[68PGunner]

I haven't combed through the entire law, but from https://studentaid.ed.gov:

"Will I automatically receive PSLF after I’ve made 120 qualifying monthly payments?
No. After you make your 120th qualifying monthly payment, you will need to submit the PSLF application to receive loan forgiveness. The application is under development and will be available prior to October 2017, the date when the first borrowers will become eligible for PSLF."

There is no "middle of the game". No one is playing yet. You cannot apply for the program until you qualify for it. Legally, no one is in the program, nor are they yet entitled to it. If they remove it, it will be a PR problem for the government, not a legal one.

Technically, yes. However, the government and the Obama administration have been pushing Public Service Loan Forgiveness for the past 8 years. It won't be just a PR problem, especially when you have designed a stipulation that would provide incentives for people to take public sector jobs. At the end of the day, I doubt that the majority of physicians would benefit much from this program since there are other programs that could allow physicians to erase debt in similar manners.

Secondly, when they're talking about qualifying 120 payments, they're talking about 120 monthly payments of 10% AGI. Everyone can do this. However, it needs to be case-by-case in order to assess whether the applicant has worked 10 years in a non-profit organization such as the VA, the military, etc... When you phrase in the word automatic, it brings some legal cloudiness to the issue in the court of law. However, if an applicant has met all the requirements in the guideline, there's no reason for the applicant to be denied of their benefit.

Lastly, it's a weak argument by pointing the salary of physicians as a factor in qualifying the program. At what point do we draw the line? Is it $99,999 or is it $199,999? That would provide extreme headaches for lawmakers, making the stipulation illegal in the court of law in the first place. The program is designed to place governmental professionals in shortage fields. That benefit extends to other fields, including lawyers, MBAs, NPs, etc... Right now, that's the current language in the stipulation. Any other interpretation is nonvalid without backings from the law.

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[68PGunner]

Found it. 34 CFR 685.219 - Public Service Loan Forgiveness Program.

(e) Application.
(1) After making the 120 monthly qualifying payments on the eligible loans for which loan forgiveness is requested, a borrower may request loan forgiveness on a form provided by the Secretary.
(2) If the Secretary determines that the borrower meets the eligibility requirements for loan forgiveness under this section, the Secretary—
(i) Notifies the borrower of this determination; and
(ii) Forgives the outstanding balance of the eligible loans.
(3) If the Secretary determines that the borrower does not meet the eligibility requirements for loan forgiveness under this section, the Secretary resumes collection of the loan and grants forbearance of payment on both principal and interest for the period in which collection activity was suspended. The Secretary notifies the borrower that the application has been denied, provides the basis for the denial, and informs the borrower that the Secretary will resume collection of the loan. The Secretary may capitalize any interest accrued and not paid during this period.

The secretary reviews each application, and eligibility is determined by review of the secretary.

The secretary is part of the executive branch. The executive branch has to enforce the laws... unless... (as determined by the supreme court)

"Under Article II of the Constitution and relevant Supreme Court precedents, the President must follow statutory mandates so long as there is appropriated money available and the President has no constitutional objection to the statute."

How much money is set aside for the program? Because the secretary could simply take that route, entirely legally.

We just bailed out Puerto Rico by turning on the printing press. Money isn't an issue especially when the US Dollar is the world currency. The debt ceiling of this country is an illusion. This country right now has unlimited cash. Any country that seeks to question this credibility will be portrayed as an oppressed dictatorship that requires immediate intervention.

 

[COTOTS]

We just bailed out Puerto Rico by turning on the printing press. Money isn't an issue especially when the US Dollar is the world currency. The debt ceiling of this country is an illusion. This country right now has unlimited cash. Any country that seeks to question this credibility will be portrayed as an oppressed dictatorship that requires immediate intervention.

It has to specifically be allocated in the budget though, or in some sort of all purpose or emergency fund.

It isn't about the national debt, this program isn't even a noticeable blip on the radar of things we spend. It just depends on how much we have set aside for it.

 

[68PGunner]

It has to specifically be allocated in the budget though, or in some sort of all purpose or emergency fund.

It isn't about the national debt, this program isn't even a noticeable blip on the radar of things we spend. It just depends on how much we have set aside for it.

First of all, there isn't a budgetary issue, considering that it's already a federal loan which is a part of our national debt. We're not allocating money in order to spend on things. The money has already been spent and a part of our national debt. Debt isn't an issue for this country when we have the world currency at our disposal.