Trump proposes end to st loan forgiveness

One party wants to forgive all student loans

One party wants to ban all loan forgiveness

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Why would he do this in an election year? To guarantee he gets <30% of the under 40 vote?

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Maybe polling shows this isn't a winning issue. Might be the right time to associate this with bernie and bury them together.

Forgiveness

You do realize only about 1000 Americans have ever been forgiven of their loans since it’s existence? You have a better chance to win the lottery

He’s likely raising the interest deduction calculation in his tax cut 2.0 plan.

You can say farewell to a large number of new talented prosecutors if this happens. It is the number one draw.

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This is intellectually dishonest.

He is proposing getting rid of Public Service Loan Forgiveness, he is proposing changing it to make it simpler and for everyone.

What Trump Proposes Instead

Trump does not propose to eliminate all student loan forgiveness. Rather, he proposes to end the Public Service Loan Forgiveness program. Trump believes that simplifying the number of student loan repayment plans will simply student loan repayment and help borrowers pay off student loans faster.


Importantly, federal student loan repayment plans can help you lower your monthly payment (even though interest accrues on your balance), but don’t expect to get a lower interest rate on your student loans. Trump has proposed an income-based repayment plan that forgive federal student loans for undergraduate borrowers after 15 years of student loan payments. Currently, you can receive federal student loan forgiveness after 20 years (undergraduate) or 25 years (graduate school) under existing income-driven repayment plans. Like current income-driven repayment plans, borrowers likely would be liable for income taxes on the amount of student loans they receive.

So instead of 10 years for PSLF mooches that won't vote for him anyway and 20 years for everyone else, Trump's plan is 15 years for everyone. And current borrowers under PSLF would be grandfathered in. This would just be for future borrowers.

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I’m 30 with student loan debt and support this move.

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Same here. Mainly because I'd call bullshite though on everyone else having their high interest student loans forgave, while I wouldn't because I was smart enough to take out a MUCH MUCH lower interest personal loan in order to pay off our student loans with already.

Its sad how many people don't know how to manage money. There needs to be much more required teaching in public schools. We'd have a lot less jealous millennial socialists running around.

How about reform the student loan industry to begin with, the whole thing is a gigantic racket.

The cost of college has soared because it's being artificially inflated by easy to obtain loans.

Borrow 20K? Why not 50k? Why not 100K? it's asinine.

Stop making ridiculous amounts of debt easy for an 18 year old to get and the cost of college will come way down.