PSLF. How many have used this program?

quote:

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Why do you think this? PSLF is congressional and it's in your master promissory note. You should be fine. If the program is halted then they'd probably grandfather in the existing loans. I don't see why they'd do otherwise.

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I suppose my concern is that there would be no resistance to a repeal in the house/senate/president. They tried to get rid of pslf while grandfathering in current loans but it didnt pass. I think this was around 2017.

Yes i am on SAVE now. I expect this will lose in the courts with Trump in office and we’d move to IBR?

Congrats on 9years btw

I was just reading an on point NYT article, so figured I would bump this. Likely behind a paywall, so I'll include the content as well (though I had to remove the last section due to TD character limits):

LINK

What Will Trump Do With the Public Service Loan Forgiveness Program?

There is widespread concern that President-elect Donald J. Trump may end it, since he has tried before. But that may be the wrong thing to fear.
Listen to this article · 6:13 min Learn more

Credit...Andrew Spear for The New York Times
Ron Lieber

By Ron Lieber

Ron Lieber has been writing about the P.S.L.F. program since 2017.
Nov. 14, 2024Updated 11:14 a.m. ET

While President-elect Donald J. Trump had plenty to say during the presidential campaign about higher education institutions that were “infected” by the “radical left and Marxist maniacs,” he did not say much about his plans for the federal student loan system.

That hasn’t stopped New York Times readers — whose money questions we solicited in the wake of the presidential election — and others from worrying about the fate of one particularly complicated program: Public Service Loan Forgiveness.

The P.S.L.F. program, which President George W. Bush signed into law in 2007, cancels all remaining balances for federal student loan borrowers as long as they work in a qualifying public-service job and have made 120 monthly payments. They must meet other qualifications, too, and the rules have proved enormously confusing for both the entities that administer the program and the borrowers themselves.

Still, borrowers persist — lots of them. At the end of June 2023, according to the Education Department, just over two million borrowers had credit for at least some P.S.L.F.-eligible employment and also a positive loan balance. A lot is at stake for them (given that the average balance was $88,259) and the nation’s coffers (since there was just over $182 billion eligible for cancellation at the end of 2023, according to the Education Department).

Here are questions that borrowers have asked about P.S.L.F. and some experts’ attempts to answer them.
Will President-elect Trump end P.S.L.F.?

It’s a reasonable question, since he proposed doing so in his 2021 budget for the 2021 fiscal year.

At least three things would need to happen for Mr. Trump to end P.S.L.F. during his second term: He would have to want to do it. Congress would have to want to do it. Then, legislators would have to get it together to pass a bill.

A spokeswoman for the transition team did not respond to a request for comment on Mr. Trump’s plans.

Preston Cooper, a senior fellow at the right-leaning American Enterprise Institute, said it remained to be seen how much — if at all — Congress would focus on higher education in 2025.

If any change affects P.S.L.F., he said, it would most likely be some kind of legislative effort to limit how much debt people could take on from the federal government in the first place. Most parents and graduate students can currently borrow up to the entire cost of attendance, no matter how high, minus any aid.
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If Congress shuts down P.S.L.F., what happens to people who are midway through their 120 payments or current students who chose a graduate school based on the expectation that they could enroll in P.S.L.F.?

They would probably be grandfathered in and allowed to continue to pursue debt cancellation.

When Mr. Trump proposed ending P.S.L.F. last time, there was an explicit exception for people in this situation. Mr. Cooper said such an exception would most likely be included in any future attempt to get rid of P.S.L.F.

“People made decisions based on expectations that the program would be available,” he said. “There is a sense even among opponents of P.S.L.F. that ‘we might not think this is great policy, but we already made these promises.’”

The lack of complete certainty, however, could make the coming months tricky for administrators trying to give prospective and current students advice. Graduates of social work programs often use P.S.L.F., but not a single person from the following five universities responded to my questions about the advice they were giving out now: Columbia University, Howard University, Ohio State University, the University of Chicago and the University of Southern California.
If Congress ends P.S.L.F., will the government try to claw back canceled debt from the people who have already had their balances go to zero?

Doing so would be legally dubious and logistically complicated, not to mention cruel, given that the federal government has already used P.S.L.F. to cancel the debt of over one million people.

According to Abby Shafroth, a co-director of advocacy for the National Consumer Law Center, there is a presumption against retroactivity that would force Congress to pass a law specifically designed to reinstate debts — separate and apart from any successful bid to cancel the P.S.L.F. program.
How worried do I need to be in general about the future of P.S.L.F.?

***

And this is the text of the 2020 policy proposal referenced:

Eliminate Public Service Loan Forgiveness
The Administration proposes to eliminate the PSLF program for new borrowers on or after July
1, 2020 with an exception for students who borrowed their first loans prior to July 1, 2020 and
who are borrowing to complete their current course of study. Also, previous borrowers who are
applying for forgiveness under the TEPSLF program would not be affected by this proposal. The
PSLF program is not only complicated for borrowers to navigate, but it also inefficiently targets
subsidies only to those borrowers in public service jobs or jobs at not for profit organizations.
Instead, the Administration proposes to support all borrowers pursuing any career—not just
public service careers—through the Single IDR plan which will allow borrowers to make
affordable monthly payments based on their income and will provide forgiveness to eligible
undergraduate borrowers on any balance remaining after 180 months of repayment.

LINK