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Fri Feb 14, 2020, 01:32 AM

Trump Calls For End To Student Loan Forgiveness Program

https://www.forbes.com/sites/zackfriedman/2020/02/11/trump-student-loans-forgiveness/?fbclid=IwAR0vnUVlCuMEdR_qVl6KDP-0j-asQaI2o2AF_obDcndL0LDta2nGrXH-kbE&fbclid=IwAR0fCHwQwf225n0_ch1vyG4ZKEIdWKjEdQppkyOBAKIxxT_saaCgMZGQAuQ&utm_campaign=clevelanddotcom_sf&utm_source=facebook&utm_medium=social#2208f18e6b3d

End Student Loan Forgiveness

Trump’s new annual budget calls for several changes to student loans, which are part of a $5.6 billion cut in funding to the U.S. Education Department. As in previous years, Trump repeated his call to end public service loan forgiveness. Under Trump's proposed budget, if passed by Congress, the Public Service Loan Forgiveness program would be eliminated.

The Public Service Loan Forgiveness program is a federal program created in 2007 by President George W. Bush that forgives federal student loans for borrowers who are employed full-time (more than 30 hours per week) in an eligible federal, state or local public service job or 501(c)(3) nonprofit job who make 120 eligible on-time payments over ten years.

Why Cancel Public Service Student Loan Forgiveness?

The president and Education Secretary Betsy DeVos have stated that they want to balance the needs of both student loan borrowers and federal taxpayers. Eliminating this program, they argue, would save the federal government money from not having to forgive potentially billions of dollars of federal student loans. Others believe that the program is vital to attract and retain individuals to enter public service and non-profit jobs, many of which pay lower salaries than private sector roles. Supporters of the Public Service Loan Forgiveness program believe that ending it could deter student loan borrowers from entering public service jobs, and could adversely impact public servants, including members of the U.S. Armed Forces, police officers, firefighters, first responders, prosecutors, public defenders and others. Importantly, the proposal would impact future borrowers, not existing borrowers who already work in public service and are currently paying off student loans.

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Arrow 24 replies Author Time Post
Reply Trump Calls For End To Student Loan Forgiveness Program (Original post)
Demovictory9 Friday OP
dchill Friday #1
Beartracks Friday #2
Rhiannon12866 Friday #13
Demovictory9 Friday #24
DanieRains Friday #3
Moostache Friday #6
smirkymonkey Friday #4
Moostache Friday #7
Celerity Friday #14
struggle4progress Friday #5
flor-de-jasmim Friday #8
33taw Friday #9
King_Klonopin Friday #10
Mersky Friday #11
Nature Man Friday #12
obamanut2012 Friday #15
Celerity Friday #16
duforsure Friday #17
pansypoo53219 Friday #18
JustABozoOnThisBus Friday #19
underpants Friday #20
Tanuki Friday #22
muriel_volestrangler Friday #21
PCIntern Friday #23

Response to Demovictory9 (Original post)

Fri Feb 14, 2020, 01:55 AM

1. And I call for the end of the Trump Forgiveness Program.

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Response to dchill (Reply #1)

Fri Feb 14, 2020, 02:03 AM

2. Here here. n/t

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Response to dchill (Reply #1)

Fri Feb 14, 2020, 04:57 AM

13. +1000!

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Response to dchill (Reply #1)

Fri Feb 14, 2020, 11:33 AM

24. me too!

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Response to Demovictory9 (Original post)

Fri Feb 14, 2020, 02:52 AM

3. I Call For The End Of Trump Period

Abuse all Trump supporters.

They are filth.

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Response to DanieRains (Reply #3)

Fri Feb 14, 2020, 03:55 AM

6. Yup...my hate fire has received more fuel from this...(n/t)

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Response to Demovictory9 (Original post)

Fri Feb 14, 2020, 03:05 AM

4. Miserable, sadistic motherfucker.

I hate him so much. Betsy DeVos is behind this. That woman has got to go. I despise her.

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Response to smirkymonkey (Reply #4)

Fri Feb 14, 2020, 03:55 AM

7. DeVos is one of the worst...which is clearly why she is STILL around this long... (n/t)

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Response to smirkymonkey (Reply #4)

Fri Feb 14, 2020, 04:57 AM

14. They are monsters and atm we can do nothing, or damn near nothing

to stop this. He simply MUST be voted out.

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Response to Demovictory9 (Original post)

Fri Feb 14, 2020, 03:12 AM

5. "We Republicans think smart educated people should be dirt poor"

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Response to Demovictory9 (Original post)

Fri Feb 14, 2020, 03:58 AM

8. Guess he figures that as bankruptcy was good for him.........

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Response to Demovictory9 (Original post)

Fri Feb 14, 2020, 04:08 AM

9. Vote Blue.

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Response to Demovictory9 (Original post)

Fri Feb 14, 2020, 04:25 AM

10. If it levels the playing field, Republicans HATE it.

The "Born on third base" analogy is obvious to anyone,
except Trump himself. Slimeball.

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Response to Demovictory9 (Original post)

Fri Feb 14, 2020, 04:43 AM

11. Rotten awful

tRump and devos do not deserve a place in public office.

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Response to Demovictory9 (Original post)

Fri Feb 14, 2020, 04:56 AM

12. Were student loans ever dischargeable in bankruptcy?

If so, what changed that?

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Response to Nature Man (Reply #12)

Fri Feb 14, 2020, 05:09 AM

15. The Bankruptcy Act changed that

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Response to Nature Man (Reply #12)

Fri Feb 14, 2020, 05:14 AM

16. They were at one time. Now it is extraordinarily hard.

Here is a very rare exception

This Man Got $221,000 Of Student Loans Discharged In Bankruptcy

https://www.forbes.com/sites/zackfriedman/2020/01/10/student-loans-bankruptcy/

Here is some background on why they are so hard to discharge thanks to the 2005 Bankruptcy Bill aka The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005


https://www.theguardian.com/us-news/2019/dec/02/joe-biden-student-loan-debt-2005-act-2020

https://www.gq.com/story/joe-biden-bankruptcy-bill/amp

https://www.thebalance.com/bankruptcy-abuse-prevention-and-consumer-protection-act-3305555


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Response to Demovictory9 (Original post)

Fri Feb 14, 2020, 05:15 AM

17. Again this is causing more young people to realize trump is hurting them

And are running from him now with many others that see he's again cutting Medicaid, Medicare, and Social Security hurting older people. trumps economic claims are propaganda , and they're propping up the market with our money while claiming its good, like W Bush claimed the economy was good before it crashed knowing it wasn't. Instead of helping the students , he passed a windfall tax scam bill which he bragged was giving the wealthy huge tax refunds yearly now we pay for. He could care less about any students.

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Response to Demovictory9 (Original post)

Fri Feb 14, 2020, 05:38 AM

18. if the mother-fucker gave a shit about taxpayers he'd golf at camp david.

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Response to Demovictory9 (Original post)

Fri Feb 14, 2020, 05:44 AM

19. How much of Trump debt has been "forgiven" through bankruptcies?

And that's just the bank loans.

How much of Trump's debts to workers, contractors, etc has he just ignored?

He's the picture of debt.

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Response to JustABozoOnThisBus (Reply #19)

Fri Feb 14, 2020, 06:28 AM

20. He's the "King of Debt" buhleeveme

Every article I've read about him always includes how incredibly low his debt numbers were. Yes he declared bankruptcy and yes lenders took control of 95% of his assets at times but when he really really needed money (post 1990 especially) *poof* suddenly he had it somehow.

He eats fast food because he fears being poisoned.

Hmmmm who has lots of cash and also have been known to still use poison in this day and age?

Maybe these two things don't have anything to do it's one another. I'm simply asking the question.

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Response to JustABozoOnThisBus (Reply #19)

Fri Feb 14, 2020, 06:51 AM

22. Excellent point. I would love to see the exact dollar count for how much debt

he has had forgiven in his multiple bankruptcies. I would-also like to see how much of his fair share of taxes he has been able to avoid paying by writing off bad real estate investments and shady deductions of all kinds.

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Response to Demovictory9 (Original post)

Fri Feb 14, 2020, 06:36 AM

21. At the same time he cuts federal pay rises below inflation due to his "national emergency"

If you lived in a bubble where Twitter Trump was your sole news source, you’d be pretty fired up, which makes it odd that on Monday the very same Trump White House said it intends to slash a scheduled pay raise for civilian federal employees. Cutting the 2.5 percent raise set for 2021 to 1 percent for millions of federal workers seems a bit austere in the face of such self-proclaimed boom times. Even more absurdly, Trump is justifying ordering the cut on the grounds that the country is in the midst of a “national emergency or serious economic conditions affecting the general welfare,” which the White House says authorizes the president to “implement alternative plans for pay adjustments.”

So which is it? The best economy in the history of economies or a national economic emergency? Either way, somebody’s lying.

https://slate.com/news-and-politics/2020/02/trump-cuts-scheduled-federal-pay-raise-serious-economic-conditions.html

Trump manages to lie both ways. It's neither the best economy ever, nor a national economic emergency that needs severe actions to cut people's real pay. The closest thing to "emergency conditions" were created by Trump's tax cuts for the rich; so he wants both pay in the public sector to get worse, and to stop the loan program that could persuade well-qualified people to go into public service anyway.

That way, he gets people who are more desperate, and will do what thy're told by ideologues in charge who are effectively paid by thinktanks to whom they will return, after a few years of "suffering for the public good" with federal pay.

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Response to Demovictory9 (Original post)

Fri Feb 14, 2020, 07:28 AM

23. ...and this is a G W Bush program,

You know: that Commie-leftist giveaway-to-the-poor Guy.

Jesus. Next he’s gonna re-segregate baseball.

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