Get Out of Debt Guy - Steve Rhode

Public Service Loan Forgiveness to be Eliminated Under Trump 2018 Budget

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It wasn’t that long ago I wrote Public Service Loan Forgiveness Program Teters With Unmitigated Disaster but the new Trump 2018 proposed budget drive that worry into lightspeed.

According the the budget titled A New Foundation For American Greatness, “To support this streamlined pathway to debt relief for undergraduate borrowers, and to generate savings that help put the Nation on a more sustainable fiscal path, the Budget eliminates the Public Service Loan Forgiveness program, establishes reforms to guarantee that all borrowers in IDR pay an equitable share of their income, and eliminates subsidized loans.” – Source

The proposed program elimination would apply to loans originated on or after July 1, 2018.

The role of the PSLF program was signed into law by President George W. Bush as an effort to encourage people to work in government, military, non-profits, and health fields.

By the way, here is an interesting PSLF document I discovered recently, it’s the Public Service Loan Forgiveness Processing Manual. It will come in handy for all the people who are sure to face issues with PSLF in the future.