Reject Trump’s Education Budget 

We can’t stop there! Follow these action steps.

 Step 1: Send a Message 

The Trump administration’s education budget is the final nail in the coffin for current, former and future students. Since Trump appointed Betsy DeVos to lead the Education Department, the two billionaires have unleashed a destructive student loan agenda that harms working- and middle-class families. They increased fees for borrowers who are behind on their payments. They opened the door for predatory student loan companies to access lucrative federal contracts. They even threatened the acceptance letters of public servants who were promised loan forgiveness. Now, Trump wants to go even further.

 

✖︎ ENDS the Public Service Loan Forgiveness program. There are over 550,000 borrowers who have already applied for the program. 

✖︎ CUTS $200 billion from student aid programs over the next decade.

✖︎ ELIMINATES subsidized loans that keep interest costs down.

✖︎ REPLACES existing income-driven repayment plans with a new program, created by Trump, that significantly increases costs for graduate students.

 

 Step 2: Call Congress 

“I am calling to ask my members of Congress to vote “NO” on the Trump-DeVos education budget. The cuts proposed for the department of education do nothing to help resolve the $1.5 trillion student debt crisis in this country – it makes it worse. Severe cuts to student aid funds, elimination of subsidized student loans, and replacement of helpful income-driven repayment plans will harm families across the country.

Eliminating Public Service Loan Forgiveness betrays public employees who give back to our country. Making Income-Driven Repayment programs less generous does little to help those of us paying back our loans. All this, and giving money to loan servicing companies, like Navient, who profit off the student debt crisis, shows that our best interests are not being prioritized.”

Tell Congress to REJECT Trump’s Budget.

Dial: 1-855-764-1010

 Step 3: Share Your Story 







Verification Captcha

I enrolled in architecture school in 2009 at a university that pitched large scholarships and a manageable debt burden (<75K). I l eft graduate 180K in student debt, even after working consistently as a TA during the school year and as an architectural intern in the summer.

Since graduating, I enrolled in an income-based program, and consistently make on-time payments, yet the 7.75% interest rate on my federal loans has prevented me from keeping up with the interest. My loan balance is now 240K+.

The income-based program promises forgiveness after 25 years, but the US tax code currently views the forgiven balance as taxable income. My projected loan forgiveness balance is close to 500K. This would sidle me and my family with a tax bill of 100K+. Unfortunately my wife is in a similar situation.

Despite our monthly payments, we are still able to make rent and pay our other bills, however we have not been able to accrue any significant savings for a home or for the expenses of having children.

The key changes that could be made in the US system:
- set reasonable (Fed-based?) rates for student loans.
- allow loans to be paid pre-tax, or increase the tax deductible limit of loan interest
- adjust the tax code to prevent taxation of forgiven balance

These simple changes would allow this generation to move forward with major life-steps, like buying property and starting families - good things for the economy.

Justin Halsey    May 22, 2018    Brooklyn   

Learn more about this concerning budget.

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