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President Donald Trump’s administration is moving to overhaul the Public Service Loan Forgiveness (PSLF) program. The proposed changes, according to ABC News, could block debt relief for thousands of public and nonprofit workers, including those who work for organizations supporting immigrant communities, transgender youth, and diversity and inclusion efforts. The Department of Education’s draft rule would allow officials to disqualify entire organizations from PSLF if they’re involved in so-called “illegal activities” the department has defined. Critics argue that the vague language used could become a political tool, particularly against groups focused on equity, identity, or civil rights. “That’s definitely an indicator for me that this is politically motivated and perhaps will be used as a tool for political punishment,” Betsy Mayotte, president of the Institute of Student Loan Advisors and reviewer of the rule, said in an interview with ABC News. What PSLF Was Designed To Do...
If you’ve been walloped by the economic fallout from the coronavirus pandemic, taking advantage of the federal student loan repayment suspension and interest freeze is a no-brainer. You can now stop making your payments and enjoy the six-month, interest-free period handed down by the U.S. government. But what if you can afford to keep putting money toward your education debt? For you, taking advantage of the federal student loan interest freeze might mean something else entirely. Here’s how to know… … when it makes sense to keep making federal loan payments … when it makes sense to sit back during the federal student loan interest freeze When it makes sense to keep making federal loan payments As you’ve likely heard, the government has enacted a six-month suspension of student loan payments — technically, an “administrative forbearance” — that allows most federal loan borrowers to take a penalty-free break from payment through Sept. 30, 2020. And yet, continuing to make payments...