Tag Archives: President Trump

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What to Do if You’re Worried About Trump Repealing PSLF

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trump repealing PSLFI’ve gotten a ton of clients asking me about the Trump administration’s plans in regards to the Public Service Loan Forgiveness program (PSLF). For those who don’t know, PSLF allows you to work for a not for profit employer for 10 years and receive tax free loan forgiveness. For many borrowers burdened by huge amounts of student debt, PSLF is their only hope. Here’s how you should prepare your finances if you’re worried about Trump repealing PSLF.

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Repeal of PSLF

How to Hedge Against PSLF Repeal

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Maybe you’re a really savvy doctor who learned about the PSLF program in year three of medical school. You’ve since made three years of payments in residency under the PAYE program, and you’ve dutifully submitted your PSLF employment certification form annually. You have $300,000 in student loan principal with $40,000 in accrued interest. PSLF repeal would royally screw you over, so what do you do when both parties have said they want to repeal it and Republicans will control all branches of government?

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How President Trump Affects Student Loans

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president trump affects student loans

Regardless of who won the election, student loan policy was going to change somehow. Predicting student loan policy based on this election has nothing to do with political preferences. I only seek to determine how to best prepare my clients for policy change so that they can save as much money as possible.

We are currently on an unsustainable path with total student debt of Americans sitting at $1.45 trillion. Student loans will soon surpass both credit card debt and auto debt combined. 10 years ago, people were not really even talking about student debt as a national policy crisis. Now that the election is decided, here’s how President Trump affects student loans. If you’d like a free student loan calculator that models Trump’s student loan proposal, you can get that here

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