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Hi All,
So I’m wondering what some of your thoughts, more globally, are on the idea of Public Service Loan Forgiveness (PSLF). The reason I ask, is that in the past when it has come up, it seems that there has been a multilayered response. On the face of it, many of the sentiments expressed are of a doubtful nature (i.e., “I doubt it will stay around that long,” “Why would you trust the government?” “Administrations and congresses change all of the time and it is unlikely this will stick around.”) However, beneath these observed responses, there also seems to be an attitude (and maybe this is just me projecting) and almost a hope from some, that it does not actually come to fruition. I have hypotheses as to why folks would hope that this does not come to pass (i.e., taxpayers having to foot the bill, promulgating a generation of the already entitled to further entitlement and what that cost might be down the line, personal accountability with borrowing, further perpetuation of diploma mills, etc…) However, let’s say for the sake of discussion, the government actually goes through with it as it stands now, offering tax-free, loan forgiveness for 10 years of service and on time payments. And I know there has been a budget proposal to cap at approx 60 grand, but let’s still go with if it’s not capped. What are yall's thoughts on if this actual starts to happen? Would you be writing your senators and representatives in order to get it changed? Could it lead to the Argosys/Alliants becoming more prevalent and the field becoming further marginalized? It seems that this will be something that has the potential to be a HUGE issue come the next pres election.
Personally, I’ve always found it a bit paradoxical regarding psychologists and PSLF, with the idea that a public service job is a bad gig (and one in which MD's and psychologists alike could abuse and take advantage of PSLF). I think it is a fair assumption to state that many of the best jobs a clinical psychologist can have are within governmental bounds (usually including good salaries, not very high stress, excellent benefits, etc…). I am currently in talks for a government job myself, which will afford me the opportunity to pursue two forms of private practice work as well. However, I’ve got some debt, and if after 10 years’ time I still have some left to take care of (I‘m hopeful that’s not going to be the case), I can’t honestly say that I will be all up in arms to protest and say “Hey government don’t do that! It’s not fair to John Q Taxpayer!” Maybe that’s me being selfish/naïve…I don’t know. But at the same time, if I already have it paid off at that time, I probably won’t be happy about my taxes further perpetuating all of the bad that could potentially come with this kind of legislation. Either way, since it seems that many of the folks I’ve talked to that come out with massive amounts of debt from professional schools are hoping this comes to pass, I figured it might be worth discussing. Many of whom I’ve talked with this about are essentially BANKING on PSLF happening, which to me is irrational and potentially worrisome regarding judgment as a whole.
So I’m wondering what some of your thoughts, more globally, are on the idea of Public Service Loan Forgiveness (PSLF). The reason I ask, is that in the past when it has come up, it seems that there has been a multilayered response. On the face of it, many of the sentiments expressed are of a doubtful nature (i.e., “I doubt it will stay around that long,” “Why would you trust the government?” “Administrations and congresses change all of the time and it is unlikely this will stick around.”) However, beneath these observed responses, there also seems to be an attitude (and maybe this is just me projecting) and almost a hope from some, that it does not actually come to fruition. I have hypotheses as to why folks would hope that this does not come to pass (i.e., taxpayers having to foot the bill, promulgating a generation of the already entitled to further entitlement and what that cost might be down the line, personal accountability with borrowing, further perpetuation of diploma mills, etc…) However, let’s say for the sake of discussion, the government actually goes through with it as it stands now, offering tax-free, loan forgiveness for 10 years of service and on time payments. And I know there has been a budget proposal to cap at approx 60 grand, but let’s still go with if it’s not capped. What are yall's thoughts on if this actual starts to happen? Would you be writing your senators and representatives in order to get it changed? Could it lead to the Argosys/Alliants becoming more prevalent and the field becoming further marginalized? It seems that this will be something that has the potential to be a HUGE issue come the next pres election.
Personally, I’ve always found it a bit paradoxical regarding psychologists and PSLF, with the idea that a public service job is a bad gig (and one in which MD's and psychologists alike could abuse and take advantage of PSLF). I think it is a fair assumption to state that many of the best jobs a clinical psychologist can have are within governmental bounds (usually including good salaries, not very high stress, excellent benefits, etc…). I am currently in talks for a government job myself, which will afford me the opportunity to pursue two forms of private practice work as well. However, I’ve got some debt, and if after 10 years’ time I still have some left to take care of (I‘m hopeful that’s not going to be the case), I can’t honestly say that I will be all up in arms to protest and say “Hey government don’t do that! It’s not fair to John Q Taxpayer!” Maybe that’s me being selfish/naïve…I don’t know. But at the same time, if I already have it paid off at that time, I probably won’t be happy about my taxes further perpetuating all of the bad that could potentially come with this kind of legislation. Either way, since it seems that many of the folks I’ve talked to that come out with massive amounts of debt from professional schools are hoping this comes to pass, I figured it might be worth discussing. Many of whom I’ve talked with this about are essentially BANKING on PSLF happening, which to me is irrational and potentially worrisome regarding judgment as a whole.
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