Billionaire Betsy DeVos wants to scrap student debt forgiveness. Surprised?

The plan by the secretary of education represents the Trump administration’s multi-part assault on public education and the non-rich

‘This news should surprise no one who’s been paying attention to DeVos’s actions in office.’ Photograph: Evan Vucci/AP

When Donald Trump appointed Betsy DeVos secretary of education, America’s school-going people worried it was only a matter of time before she brought back debtors’ prison for student loan defaulters and subcontracted out K-12 education to Nickelodeon.

Now Donald and Betsy are one step closer to making that vision a reality, with $10.6bn in cuts to crucial education programs, including a student loan forgiveness program first implemented by a Republican administration.

According to budget documents obtained by the Washington Post, the Trump administration plans to end the Public Service Loan Forgiveness (PSLF) program, which more than 400,000 people are counting on as part of their financial future.

Signed into law in 2007 by George W Bush as part of the College Cost Reduction and Access Act, the program offers those whose jobs benefit society – government and non-profit employees – the chance to have their student loans forgiven after 10 years of on-time, income-based payments. The amount of money this would cost the government would presumably not exceed what it would have cost to simply pay these workers more.

In an effort to make taxpayers foot the bill for their depraved lives of leisure, more than 400,000 aspiring teachers, social workers, public defenders, and others took the government up on its offer. It might not be the only reason they chose these lines of work, but it certainly factored into the decisions of many. The first loans were – and as of now, still are – set to be wiped away in October , a date the program’s first participants have no doubt been counting down to for nearly a decade.

Unfortunately for these poor saps, two rich kids who have never taken out a student loan in…

Read the full article from the Source…

Leave a Reply

Your email address will not be published. Required fields are marked *