Changes may be in the pipeline...
http://blogs.wsj.com/economics/2016...000-in-student-debt-for-thousands-of-doctors/
http://blogs.wsj.com/economics/2016...000-in-student-debt-for-thousands-of-doctors/
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WSJ Article on PSLF
Started by SigmaFS
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Looks like the White House has tried to change it twice already but Congress did nothing. From the article:
"The Obama administration is aware of potential for big payouts for highly paid doctors. The White House, as part of its annual budget proposals, has twice proposed capping loan forgiveness at $57,500. The proposal would need to be approved by Congress, which has not acted on it."
I would hope that before this ever came up on congress for an actual vote that the AMA would get involved. I see how this may have a negative view to some in the public, doctors having loans forgiven while making a large salary. However, I still have doubts that this limit of how much will be forgiven will ever be put into effect. Instead of going after this problem, my personal opinion is that they should address cost of education. Doesn't' seem right to let some kid (18 yo) take out 150k to get an art degree.
"The Obama administration is aware of potential for big payouts for highly paid doctors. The White House, as part of its annual budget proposals, has twice proposed capping loan forgiveness at $57,500. The proposal would need to be approved by Congress, which has not acted on it."
I would hope that before this ever came up on congress for an actual vote that the AMA would get involved. I see how this may have a negative view to some in the public, doctors having loans forgiven while making a large salary. However, I still have doubts that this limit of how much will be forgiven will ever be put into effect. Instead of going after this problem, my personal opinion is that they should address cost of education. Doesn't' seem right to let some kid (18 yo) take out 150k to get an art degree.
6
68PGunner
It seems like the WSJ has something against physicians for a while. I see this bs spewed from their outlet every 6-12 months.
Lawyers are even more reliant on this program than we are. They owe almost as much but have much worse job prospects--in terms of finding a job that uses their JD, and finding one that pays decently. Their programs actively market PSLF as the way to repay their high debt.
Lawyers have a lot more clout in Congress than we do, which is quite sad. But this is on area where lawyers will most certainly be our friends.
I would still not count on full forgiveness sticking around, but we'll see what happens...
Lawyers have a lot more clout in Congress than we do, which is quite sad. But this is on area where lawyers will most certainly be our friends.
I would still not count on full forgiveness sticking around, but we'll see what happens...
D
deleted547631
Agreed. A good friend of mine is in public law and has been PSLF certifying since 2011 or so. The attorneys will most certainly fight any changes to this program and tangentially help others who are counting on it, too.
D
deleted547631
Yes, it's the same author of the previous PSLF-focused WSJ articles. We'll see how this plays out.
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D
deleted390966
Second this. The student loan crisis occurs because schools are allowed to charge whatever prices they want in the first place. It appalls me that uni costs an arm and a leg for a degree in this country.
I think we'll see more of these articles as more and more people get loans forgiven under PSLF until Congress takes action to repeal it. I think there's a 0% chance the program exists long term, except for those who already have it in their promissory notes (current borrowers)
