General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsTrump Calls For End To Student Loan Forgiveness Program
https://www.forbes.com/sites/zackfriedman/2020/02/11/trump-student-loans-forgiveness/?fbclid=IwAR0vnUVlCuMEdR_qVl6KDP-0j-asQaI2o2AF_obDcndL0LDta2nGrXH-kbE&fbclid=IwAR0fCHwQwf225n0_ch1vyG4ZKEIdWKjEdQppkyOBAKIxxT_saaCgMZGQAuQ&utm_campaign=clevelanddotcom_sf&utm_source=facebook&utm_medium=social#2208f18e6b3dEnd Student Loan Forgiveness
Trumps new annual budget calls for several changes to student loans, which are part of a $5.6 billion cut in funding to the U.S. Education Department. As in previous years, Trump repeated his call to end public service loan forgiveness. Under Trump's proposed budget, if passed by Congress, the Public Service Loan Forgiveness program would be eliminated.
The Public Service Loan Forgiveness program is a federal program created in 2007 by President George W. Bush that forgives federal student loans for borrowers who are employed full-time (more than 30 hours per week) in an eligible federal, state or local public service job or 501(c)(3) nonprofit job who make 120 eligible on-time payments over ten years.
Why Cancel Public Service Student Loan Forgiveness?
The president and Education Secretary Betsy DeVos have stated that they want to balance the needs of both student loan borrowers and federal taxpayers. Eliminating this program, they argue, would save the federal government money from not having to forgive potentially billions of dollars of federal student loans. Others believe that the program is vital to attract and retain individuals to enter public service and non-profit jobs, many of which pay lower salaries than private sector roles. Supporters of the Public Service Loan Forgiveness program believe that ending it could deter student loan borrowers from entering public service jobs, and could adversely impact public servants, including members of the U.S. Armed Forces, police officers, firefighters, first responders, prosecutors, public defenders and others. Importantly, the proposal would impact future borrowers, not existing borrowers who already work in public service and are currently paying off student loans.
dchill
(38,471 posts)Beartracks
(12,809 posts)Rhiannon12866
(205,202 posts)Demovictory9
(32,448 posts)DanieRains
(4,619 posts)Abuse all Trump supporters.
They are filth.
Moostache
(9,895 posts)smirkymonkey
(63,221 posts)I hate him so much. Betsy DeVos is behind this. That woman has got to go. I despise her.
Moostache
(9,895 posts)Celerity
(43,314 posts)to stop this. He simply MUST be voted out.
struggle4progress
(118,278 posts)flor-de-jasmim
(2,125 posts)33taw
(2,439 posts)King_Klonopin
(1,306 posts)The "Born on third base" analogy is obvious to anyone,
except Trump himself. Slimeball.
Mersky
(4,980 posts)tRump and devos do not deserve a place in public office.
Nature Man
(869 posts)If so, what changed that?
obamanut2012
(26,068 posts)Celerity
(43,314 posts)Here is a very rare exception
This Man Got $221,000 Of Student Loans Discharged In Bankruptcy
https://www.forbes.com/sites/zackfriedman/2020/01/10/student-loans-bankruptcy/
Here is some background on why they are so hard to discharge thanks to the 2005 Bankruptcy Bill aka The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005
https://www.theguardian.com/us-news/2019/dec/02/joe-biden-student-loan-debt-2005-act-2020
https://www.gq.com/story/joe-biden-bankruptcy-bill/amp
https://www.thebalance.com/bankruptcy-abuse-prevention-and-consumer-protection-act-3305555
duforsure
(11,885 posts)And are running from him now with many others that see he's again cutting Medicaid, Medicare, and Social Security hurting older people. trumps economic claims are propaganda , and they're propping up the market with our money while claiming its good, like W Bush claimed the economy was good before it crashed knowing it wasn't. Instead of helping the students , he passed a windfall tax scam bill which he bragged was giving the wealthy huge tax refunds yearly now we pay for. He could care less about any students.
pansypoo53219
(20,971 posts)JustABozoOnThisBus
(23,338 posts)And that's just the bank loans.
How much of Trump's debts to workers, contractors, etc has he just ignored?
He's the picture of debt.
underpants
(182,769 posts)Every article I've read about him always includes how incredibly low his debt numbers were. Yes he declared bankruptcy and yes lenders took control of 95% of his assets at times but when he really really needed money (post 1990 especially) *poof* suddenly he had it somehow.
He eats fast food because he fears being poisoned.
Hmmmm who has lots of cash and also have been known to still use poison in this day and age?
Maybe these two things don't have anything to do it's one another. I'm simply asking the question.
Tanuki
(14,918 posts)he has had forgiven in his multiple bankruptcies. I would-also like to see how much of his fair share of taxes he has been able to avoid paying by writing off bad real estate investments and shady deductions of all kinds.
muriel_volestrangler
(101,306 posts)So which is it? The best economy in the history of economies or a national economic emergency? Either way, somebodys lying.
https://slate.com/news-and-politics/2020/02/trump-cuts-scheduled-federal-pay-raise-serious-economic-conditions.html
Trump manages to lie both ways. It's neither the best economy ever, nor a national economic emergency that needs severe actions to cut people's real pay. The closest thing to "emergency conditions" were created by Trump's tax cuts for the rich; so he wants both pay in the public sector to get worse, and to stop the loan program that could persuade well-qualified people to go into public service anyway.
That way, he gets people who are more desperate, and will do what thy're told by ideologues in charge who are effectively paid by thinktanks to whom they will return, after a few years of "suffering for the public good" with federal pay.
PCIntern
(25,532 posts)You know: that Commie-leftist giveaway-to-the-poor Guy.
Jesus. Next hes gonna re-segregate baseball.