Trump's Bid to Axe Public Service Loan Forgiveness Would Sever Lifeline, Opponents Say
A decade-old program that forgives the federal student loan debt of those who work in public service jobs for 10 years would be eliminated under President Donald Trump's proposed budget.
May 24, 2017 at 04:15 PM
18 minute read
The original version of this story was published on National Law Journal
A decade-old program that forgives the federal student loan debt of those who work in public service jobs for 10 years would be eliminated under President Donald Trump's proposed budget.
That budget, released Tuesday, would axe the Public Service Loan Forgiveness Program and institute other changes to the student loan repayment system that would make some attorneys, nurses, teachers, doctors and other professionals who borrow from the government to finance their professional educations wait 30 years to see their debt canceled—up from 25 years.
Public Service Loan Forgiveness is popular in the legal field, where it's widely viewed as a financial lifeline to attorneys who pursue careers in relatively low-paying positions such as public defenders, prosecutors and legal aid attorneys. Without loan forgiveness, those positions hold less appeal and would see significantly higher turnover, supporters said in the wake of Trump's budget unveiling.
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