Trump’s budget seeks to eliminate one major benefit of federal student loans that costs billions

Trump’s budget seeks to eliminate one major benefit of federal student loans that costs billions

The Trump administration’s first budget proposes ending a program to encourage student-loan borrowers to go into public service by forgiving their debt to save an estimated $27 billion over the next decade. Here’s how the program works: If you take out a federal student loan, you have your loans forgiven after making 10 years of on-time payments and working for an employer the Department of Education deems to be serving the public good. Qualified employers include local, state and federal government agencies and nonprofit organizations. (Private lenders don’t offer this…

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