TWO AMERICAS of Student Loans

  • 26 June 2017
  • staff

My documentary film TWO AMERICAS analyzes the disparities between public and
private sector wages and benefits:

 

President Trump kept his promise to drain the swamp by reducing government involvement in student loans.  In his budget proposal, Trump seeks to eliminate the Public
Service Loan Forgiveness (PSLF) Program administered by the Department of Education for loans issued after July 1, 2018:  https://studentaid.ed.gov/sa/repay-loans/forgiveness-cancellation/public-service.

The PSLF Program forgives the balance of student loans after the borrower makes 120 monthly payments (10 years) while working full-time for the government or qualifying employer such as:

Government organizations at any level (federal, state, local, or tribal)

Not-for-profit organizations tax-exempt under Section 501(c)(3) of the Internal Revenue Code

Other not-for-profit organizations not tax-exempt under Section 501(c)(3) of the Internal Revenue Code, if their primary purpose is to provide qualifying public services.

Ending the PSLF bailout will save the public $27 billion over 10 years and stop a fundamentally unfair program that only benefits government workers.  If Communism is the equitable redistribution of wealth, then the PSLF Program is more akin to Fascism where VIP members have special privileges.  This is unequal and unfair to private sector workers, and is therefore un-American.

Instead of wrongly accusing Trump of cutting student aid, we should praise him for draining the swamp of a fundamentally unfair, unequal, and un-American program that only benefits government workers.  Eliminating the PSLF Program levels the playing field with Fairness and Equality, which is my pledge, and gets the government out of the student loan business, which is good.