Trump looks to kill student loan forgiveness program

[steve2470]

Source: CNBC

As student debt continues to climb, President Donald Trump on Monday released a budget for 2021 that would slash many of the programs aimed at helping borrowers.

Student loan spending would be cut by $170 billion in Trump’s plan, titled “A Budget for America’s Future.” The reductions include “sensible annual and lifetime loan limits” for graduate students and parents and the end to subsidized loans, in which the government covers the interest for borrowers who are still in school or experiencing economic hardship.

It would also reduce the number of repayment options for borrowers and nix the popular, if challenged, public service loan forgiveness program.

That program, signed into law by President George W. Bush in 2007, allows not-for-profit and government employees to have their federal student loans canceled after 10 years of on-time payments. The Consumer Financial Protection Bureau estimates that up to one-quarter of American workers are eligible.

Read more: https://www.cnbc.com/2020/02/10/trump-proposes-end-to-student-loan-forgiveness-program.html

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Dictator-wannabe Trump: the man who tries to screw over ordinary people as much as possible

[yardwork]

1. He's such a mean cruel man.

[DENVERPOPS]

8. For a man

that had to literally buy his spawn's degrees, he is just acting out.......

[aggiesal]

14. The whole Republican party is that way ...

GOP = Greedy One Percent.

They have to find ways to pay for the Billionaire's tax cut!!!

[bucolic_frolic]

2. Trump can't get Powell to print the money fast enough

but he's taking it from students and borrowers. That means one thing: another giant tax cut for the wealthy!

[emmaverybo]

3. As it is, due to a glitch, it was not operating and most eligibles denied.Getting this program

up and running and expanding on it, among other doable ways to alleviate student debt, should be
appealing to voters even if wiping the slate for all with a 50,000 giveaway might not be.

Also, we need to focus on for-profit schools. These expensive schools produce heavily indebted students that they heavily recruit who go on to make entry level salaries. Should cap loan amounts. One of the big chains, Art Institutes, is owned by Goldman-Sachs. What a racket!

While we talk mainly about young people’s debt, let’s remember many senior adults carry student debt from going back to school. They can have, and do have, their social security garnisheed.

[DENVERPOPS]

12. It is the For Profit

pseudo schools that are the main criminals here. Their "courses" and "degrees" are totally worthless and they charged the students a prohibitive amount, got the government to buy their loans to these students and walked off rich and without being prosecuted for their scams.......

Since the U.S. gov't politicians endorsed this scam, the U.S. Gov't should forgive all loans by these corrupt fraudulent Pseudo Schools perpetrated...........

These schools are still operating and thriving, without any government intervention, and their ads can be seen every day on TV and Cable channels all the time.

[emmaverybo]

13. I agree. After a long stint at a legitimate university and early retirement, I taught at one of

these, bought later by Goldman Sachs. Knew nothing about for profit rip offs at the time. Also had a few Devry classes.

The students borrow huge amounts and still have to hold jobs to make it through. Salaries ridiculously low for teachers so young and experienced educators. GE a farce. Unprepared administrators.
Don’t spend enough on students, and though some do get jobs, not ones that will ever catch up to their debt.

I agree that these loans should be drastically alleviated or cancelled.

Last I heard my school was recruiting from returning vets.

[DENVERPOPS]

18. As an exec in a fortune 400 corp

I would approve the final applications for a position I was trying to fill. HR would screen the applicants down to 20 or so.
Every app that had an MBA from "............." (one of the biggest in the country), I would throw in the trash. At that time, everyone who wanted to buy an MBA for their Resume went to that school, at least in that geographical area.........
I guess they were brainwashed by ".............." that someone looking to hire them wouldn't know their degree was a farce.......

[emmaverybo]

20. Sad and so greedy. At least my school did have excellent arts training. But then so did our

local community college, now free. The first-hand experience you relate really demonstrates the wickedness and lack of any responsibility these schools showed. Brain-washing it was.

[DENVERPOPS]

36. Flash: news update on these pseudo universities

Did you see where Trump had his rally when he invaded New Hampshire for a rally the day of the Democrat's primary? Which by the way, he did to F up things in NH the day of the Primary and steal the thunder of the NH primary.

Trump's chosen location, wait for it......

SOUTHERN NEW HAMPSHIRE UNIVERSITY..............I laughed and just shook my head with seeing that......"Perfect" as Trump would proclaim........

The american taxpayers are paying for his continuous rallies, using Air Force One and wearing his Secret Service Detail into the ground.
You can't imagine the TRUE costs of his weekly rally junkets, flitting about like a rock concert tour from city to city. And the cities are left with a huge bill for their expenses for his visits. They send bills and the Republican party throws them in the trash.

[jberryhill]

29. That's exactly what happened

[madaboutharry]

4. He is cruel and evil.

Someone please tell me how over 40% of Americans fail to see the malignancy that runs in his veins.

[tulipsandroses]

9. Oh they see it, that is exactly what they like about him.

They are even willing to give up democracy and turn this nation into an autocracy if it means that they get to spew their hate and resentment at will. That to them is more important than anything else. Its all worth it to be able to control women's autonomy, put minorities back in their place, demonize immigrants, openly discriminate against LGBTQ people. Oh they see the malignancy, they easily recognize it because it runs through their own veins.

Some probably see loan forgiveness as socialism for the "elites". Thats what the Republican Party has gotten excellent at, convincing their followers to vote against their own interest and having them believe its for their own good.

[renate]

5. it's as if he's trying to lose

Or as if he knows he can't...

[TwilightZone]

6. I thought he was trying to lose the first time.

I agree that it seems he's doing the same this time.

He can lose, however. We proved in 2018 that overwhelming numbers can overcome the GOP nonsense. We need to do the same in 2020.

[Matthew28]

7. damn,

Do I wish our candidates would talk about stuff like this. We'd be blowing trump out of the water if they would along with how he wants to gut our safetynet including ssi.

[2naSalit]

10. Seems like he wants us

and is baiting us into the streets so he can declare some kind of emergency or sometime. We need to be in the streets at some point. I don't see this getting better before it gets worse. He's so vindictive.

I wish an alien(extraterrestrial) abductor would show up and help us out of our misery.

[llmart]

11. Loan forgiveness program

I worked at a university and administered the loan forgiveness program for faculty. 2018 was the first year employees were eligible to begin having their loans forgiven. The eligible employees did everything right in making sure they along with me kept accurate records, made ten years of payments on time and were all looking forward to having them forgiven. Since I am retired, I will never get to hear all the complaints that are going to arise. Before I left, I gave them a heads up that I had heard Trump was going to eliminate the program. I can only imagine the anger/betrayal they must feel.

[aggiesal]

15. Statistic would probably reveal that ...

50% of the people you dealt with voted for Pendejo45.
Those are the people I want to see the anger/betrayal that they'll feel.

[llmart]

25. From personal experience, I don't think that's true.

The people I dealt with for my particular job were university professors. I would say the majority of the people I came in contact with were definitely liberal people and more than likely Democrats, but I have no way of knowing that obviously. I would have many conversations with them since I dealt with them quite often and sometimes they would opening discuss their politics or feelings about issues.

[B Stieg]

21. I'm six years in the program on a student loan debt of $103,000 (phd)

This will ruin my old(er) age.
Muther...

[a la izquierda]

22. Me too.

Though I intend to get a job in Europe that pays so poorly I won’t have to pay anything back and I’ll just die there.
Or, if i become a European citizen, I can have it discharged.

[B Stieg]

23. Actually, me too!

My dad was naturalized after I was born, so I inherit his Italian citizenship.
And as a teacher, I'm confident I will find such a low-paying job. Sheesh.

[mrs_p]

26. Almost 6 years here - two doctorates

Earning much lower than I would in private sector. Hoping for the best, preparing for the worst. At least the debt will die with me.

ETA For now

[B Stieg]

35. My brother (a former senior advisor in the House) reminds me...

that the dems have the house and won't vote to approve the ridiculous 2021 budget wherein the PSLF is killed.
I only hope he's right! tRump could always resort to an Executive Order.

[TheFourthMind]

16. Only Trump Trash gets to acquire debt whilst failing to serve a purpose and not pay for it.

Fuck the lot of them.

[PSPS]

17. The sadism has really kicked into high gear after "acquittal"

I guess he "learned his lesson," right Sue?

[jmbar2]

19. Absolutely no Trump budget news on rightwing news sites

Crickets...

They'll never know what hit them.

[mwooldri]

24. I posted some news about Trump's budget on Facebook...

Stuff I found on Fox Business - though it was from 2019. My pet Trump supporter immediately posted "Fake News" - and it got into a ding dong with him throwing the "libtard" label at me. All he needed to do was be civil and say "you posted news from last year" and that would have been sufficient. However I appear learning that Trump's budget - albeit last year's one - included cuts to Medicare and Social Security triggered him.

Snoozed the dude for 30 days for my sanity.

[jmbar2]

33. Interesting observation

Sounds like cognitive dissonance - cannot handle the truth. Good on you for injecting truth where it hurts. Keep it up!

[bronxiteforever]

27. Kick and recommend for visibility of this evil

[mrs_p]

28. This will make professional programs

Be only for the rich. Regular and poor folks won’t be doctors, veterinarians, dentists, scientists, lawyers, etc.

[riversedge]

30. #crueltyIsthePoint #hashtag

[Blue_Tires]

31. Where are all those rust belt Trumpers now??

[Javaman]

32. what I want to know is...

how is this piece of shit laundering all this money that he's "saving" into his own pockets.

[Miguelito Loveless]

34. Sure, we'll cancel the program

as soon as we cancel all your former bankruptcies.

[Xolodno]

37. Could encourage brain flight....

...encourages graduates to seek employment over seas and ignore the debt. Granted they give up their Social Security...but if they had none to begin with as just entering the job market....well.

Eventually, the program, instead of making money for the government....starts losing it. And, the economy suffers as there are less qualified people out there.

And if some Trump Humper thinks they would get the jobs due to the brain flight....well, they just proved why they aren't qualified. The company may just up and move its main operations abroad. Imagine if Disney moved all its main corporate management to a site next to Disneyland Paris and kept a rotating skeleton crew in Burbank, CA to maintain its "tradition". Hiring the grads out of So Cal, then relocating them with special permission to the EU...of course, there would be a limit...and they would have to higher quite a bit from the EU.

[ck4829]

38. Shouldn't we be able to afford this program since we have, you know, a "strong economy"?