Student Loans Are Too Expensive To Forgive
Late last year, graduate students watched as legislators in the House debated giving them a hefty new tax bill: A version of the GOP tax plan proposed to treat tuition waivers as taxable income. Although that plan was later dropped, Congress is once again considering legislation that could affect graduate students’ bottom lines.
President Trump’s Education Department and its inspector general, as well as lawmakers and think tanks of all ideological stripes, have raised concerns about the growing cost of the federal government’s student loan programs – specifically its loan forgiveness options for graduate students. Members of both chambers of Congress have said they are committed to passing new higher education legislation this year that will include changes to these programs.
Under the Public Service Loan Forgiveness Program, however, a student’s debt can be forgiven after just 10 years
The $1.3 trillion spending package just signed by President Trump does include some wins for the Public Service Loan Forgiveness Program in the short-term. Read more