It’s been a whirlwind week. Last week’s leaked budget documents from the Trump administration showed proposed cuts to critical student loan programs including Public Service Loan Forgiveness, as well as major changes to income-driven repayment plans. The proposals sparked panic; hundreds of thousands of student loan borrowers have made major life decisions – selecting specific careers and specific repayment plans – in reliance on the continued existence of these programs. To have the rug pulled out from under them would be disruptive and unfair, and would likely be the basis of viable legal challenges.
After just a few days, we have some important updates on some of these reforms. Some good news, and some bad. Read on.Read More