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Budget cuts and PSLF

Home Student Loan Management Budget cuts and PSLF

  • Neuro Neuro 
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    Status: Physician
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    Joined: 01/08/2016

    In addition to cuts to healthcare, SS and Medicare, this also targets PSLF.

    Page 32

    https://www.whitehouse.gov/wp-content/uploads/2019/03/budget-fy2020.pdf

     

    #197783 Reply
    Avatar Peds 
    Participant
    Status: Physician
    Posts: 3618
    Joined: 01/08/2016

    “All student loan proposals would apply to loans originating on or after July 1, 2020, except those provided to borrowers to finish their current course of study.”

    #197785 Reply
    Liked by jhwkr542
    Avatar Peds 
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    Status: Physician
    Posts: 3618
    Joined: 01/08/2016

    also can we vomit at the title of that budget?

    #197787 Reply
    Avatar Mantis Toboggan 
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    Status: Physician
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    Joined: 02/10/2017
    Splash Refinancing Bonus

    Good. Hate this program as it is now being administered.

    #197790 Reply
    Neuro Neuro 
    Participant
    Status: Physician
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    Joined: 01/08/2016

    Peds – If they really think this through, it could be made better.

    Regarding the title – ugh!

    All that being said – someone needs to address the elephant in the room. The education costs are just unbelievable. Talking to our pharmacist this morning and she was telling about how she its affecting pharmacy students.

    #197794 Reply
    Avatar JBME 
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    Status: Spouse
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    Joined: 03/26/2018

    just an FYI not in the history of this country has the budget coming out of the WH ended up being approved as written by the House and the Senate and then signed as the president. Hasn’t even happened when one country controls all 3 houses. With a different party controlling the house, this absolutely won’t happen as the WH has communicated and written it

    #197812 Reply
    Liked by ENT Doc
    FunkDoc83 FunkDoc83 
    Participant
    Status: Physician
    Posts: 178
    Joined: 04/12/2018

    So they would stop forgiving student loans or put a max on it?  Guess the existing medical students would have to follow WCI advice and live like a resident for a while to pay off the loans just like a lot of us have done.

    #197815 Reply
    Liked by Kamban
    Avatar Kamban 
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    Status: Physician
    Posts: 2203
    Joined: 08/01/2016

    I read somewhere that PSLF will increase payments from 10 to 12% and the forgiveness occurs after 15 years for undergrad debt and 30 years for grad debt.

    Somewhere the education costs have to be curtailed. This will make people think twice about taking outrageous loans and then hoping someone else will take care of it or it is forgiven.

     

    #197824 Reply
    Avatar SwanSong 
    Participant
    Status: Physician
    Posts: 74
    Joined: 10/22/2016

    Cutting access to federal loans and grants (or NIH funding) to universities who increase their tuition and fees beyond inflation would help slow the rate of this nonsensical spiraling costs. PSLF is nice, but my alma mater spent my entire tuition in tulips, I promise you.

    #198028 Reply
    Liked by BCBiker, ENT Doc
    Avatar Peds 
    Participant
    Status: Physician
    Posts: 3618
    Joined: 01/08/2016
    my alma mater spent my entire tuition in tulips, I promise you.

    Click to expand…

    we might have gone to same school….

    #198064 Reply

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