Besty DeVos wants to kill a major student loan forgiveness program: slate.me/2pOU9Dn
Is this a joke? It's a forgiveness program for people who become public school teachers.....SHE'S THE SECRETARY OF EDUCATION
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windinhishair · 61-69, M
One of the biggest problems with eliminating the student loan forgiveness program is with the tens of thousands of people who are already in the program and have structured their lives around it. The rules are that you must work for a non-profit or the government, or in the case of medical personnel, serve in historically under-served areas of the country. Some of these people have massive debt, are making their payments, and are working at low-paying jobs for ten years to wipe out the remaining student loan debt after ten years. They've already sacrificed their earning potential for those ten years, so to tell them that the government is reneging on their promise would literally ruin their lives. Some of those people will never be able to pay off their loans, will never own a home, and will die bankrupt. I know an MD with over $400,000 in debt that is serving in an area with limited medical coverage and is in the program, who will lose ten years of earning potential if the program is eliminated.
The program also provides teachers, medical and other personnel to serve in rural and other areas that would not have services otherwise. They will also be hurt if the program is eliminated.
If the Administration wants to eliminate the program, fine, even though it is a mistake, but simply stop taking new loan holders into the program, while continuing to fulfill the obligations the government has already made to the many thousands of people who were counting on it and betting their lives.
The program also provides teachers, medical and other personnel to serve in rural and other areas that would not have services otherwise. They will also be hurt if the program is eliminated.
If the Administration wants to eliminate the program, fine, even though it is a mistake, but simply stop taking new loan holders into the program, while continuing to fulfill the obligations the government has already made to the many thousands of people who were counting on it and betting their lives.