Protect the Public Service Loan Forgiveness Program
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Update: February 13th, 2018
President Trump's proposed 2019 Budget calls for the COMPLETE ELIMINATION of the Public Service Loan Forgiveness Program (PSLF)
If you care at all about PSLF then NOW is the time to take action. President Trump's Proposed 2019 Budget was officially released yesterday and clearly calls for pulling all funding from the Public Service Loan Forgiveness Program, along with making several other massive cuts to Federal student loan programs.
RIGHT NOW is the time to post this Petition on Social Media, in the comments on related news stories, to your Blog or anywhere else that you can think of where people who care about PSLF and student loan debt will find it, because unless we can show the Congress that there's a huge contingent of Americans standing in support of PSLF, it's likely to be cut for good.
Don't let President Trump and Education Secretary Betsy DeVos have their way on the student loan crisis. Don't let the big banks and corrupt for-profit schools continue to rake in trillions of dollars from hard-working Americans. Stand up for this vital program that supports people wanting to better their lives and give back to their community by making this country a better place!
We ask that Members of Congress block President Trump's Proposed 2019 Budget until it includes support and continual funding for the Public Service Loan Forgiveness Program.
In addition to eliminating PSLF, President Trump's Proposed 2019 Budget Seeks to:
- Reduce available Income-Driven Federal Student Loan Repayment Plans (IDR Plans) from 4 to 1
- Increase Monthly Payments for IDR Plans, raising the Discretionary Income Cap from 10% to 12.5%
- Offer Loan Forgiveness earlier to the general public, offering it at 15 years instead of the current 20 (this is the one good thing he's seeking)
- Require Graduate Students to make 30 years worth of payments before receiving Loan Forgiveness
- Eliminate all Federal Subsidized Loans, meaning that all Federal loans will begin accumulating interest even while borrowers are still in school
- Embolden the Federal Government to go after borrowers who default on their loans
NOTE: These changes will ONLY APPLY to loans borrowed AFTER July 1st, 2019, so people already in repayment do not need to worry about these changes, but they are serious and significant cuts to the benefits that future generations will be offered, which is why it's so important that we stand up for them NOW!
For specific details on exactly how President Trump's 2019 Budget will impact student loan laws, student loan forgiveness and specifically the Public Service Loan Forgiveness Program, please visit:
The Department of Education is proposing eliminating the Public Service Loan Forgiveness Program.
The stated purpose of the Public Service Loan Forgiveness program is to “encourage individuals to enter and continue to work full-time in public service jobs”.
To qualify for PSLF forgiveness, people must not only work full-time in a public service position, but also make 10 years’ worth of full, on-time, income-based monthly payments toward their Federal student loans.
Who receives PSLF forgiveness? Teachers, Government Employees, Non-Profit 501(c)(3) Employees, Police Officers, Fire Fighters, Park Rangers, Military Personnel, and other qualifying public service workers.
400,000 Americans have chosen to serve their Government and Communities over the past 10 years, and each of these Americans should be able to count on the PSLF benefits promised to them.
Betsy DeVos’s Department of Education seeks to end PSLF without having conducted a detailed study to determine how much actual money this dramatic policy reversal and broken promise would even save.
The plan to eliminate PSLF is an not only an insult, but also an outrage to everyone who has dedicated the past ten years of their lives working in public service positions.
Ending the Public Service Loan Forgiveness Program is a terrible idea that should be opposed at all costs.
We ask that Members of Congress block the Department of Education’s proposal to kill this vital financial assistance program.
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Tim Lavelle needs your help with “Defend Federal Student Loan Forgiveness for Public Service Workers (PSLF)”. Join Tim and 28,102 supporters today.