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- Mar 1, 2010
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I heard a rumor this morning that the PSLF cap was intended to be broken up between UG and professional school loans. According to the rumor, the cap for those of us with med school loans would be somewhere around 130k. I haven't seen anything to back this up yet, but I'd like to think that whatever passes will differentiate between UG and grad loans.
The only silver lining Ive found is that it appears pretty much everyone with a decent insight into the next political year is agreeing that neither party with will accept this budget (and thus these changes). Though the reasoning is important. The democrats would address the various federal programs one at a time, deciding who gets cuts and who doesnt. The upside here is they generally do NOT think that the PSLF is in need of repair as a party stance. The republicans are likely going to release their own budget with dramatically different cuts and its highly unlikely they will suggest these cuts (politically its bad to be the one to suggest something like this when there are less popular things to cut). But the downside here is that if they try to approve and uphold* an actual budget, they might adopt this as part of their ways to save.
*a budget will get approved. But budgets being approved have almost nothing to do with any of the proposed changes actually going into affect. A budget, ironically, doesnt have the power to change funding. Its simply something that *has* to be approved and then each part is individually enacted (or as is often the case, not at all enacted)