White House Budget for 2019 Seeks Changes to Federal Student Loans

Last month, the White House released its budget proposal for 2019. The 2019 budget calls for changes to how federal student loans are repaid and forgiven. These proposed changes would only affect student loans that were taken out after July 1, 2019. In addition, Congress is responsible for appropriations legislation. President Trump’s budget proposals are not automatically laws. Many of the proposed changes to student loans mirror legislation that is currently under consideration by federal lawmakers. Changes mentioned in President Trump’s 2019 budget include, but are not limited to: PSLF would be eliminated: President Trump’s 2019 budget seeks to eliminate the Public Service Loan Forgiveness (PSLF) Program. We have written extensively about this program on our blog. Borrowers who are eligible for PSLF can apply to receive loan forgiveness for working in certain types of public service jobs and after making 120 months of consecutive payments. Income-driven…

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