Government analysts, charity supervisors, Peace Corps workers—most likely, these people genuinely care about serving others. But there may be another contributing factor to their career choices: the prospect of having their federal student loans forgiven.
Public service workers with federal student loans may qualify for the Public Service Loan Forgiveness (PSLF) program. As a reward for serving their communities, eligible borrowers may have the remainder of their federal student loans forgiven after they make qualifying payments for 10 years.
President Trump recently introduced his budget proposal for Fiscal Year 2021 , which runs from October 1, 2020, to September 30, 2021. He is recommending numerous changes to the ways the federal government currently spends money, and one of those changes is cutting programs from federal agencies.
Trump’s suggestion to completely eliminate the Public Student Loan Forgiveness program is one of the most controversial parts of his budget proposal.Read more