Trump Admin Moves to Officially Scrap Biden-Era Student Loan Forgiveness Program
The initiative sought to provide lower monthly loan payments and forgive remaining debt after a certain period of time.#saveplan
Trump’s Administration Wants to Terminate Saving on a Valuable Education (SAVE) Plan. https://www.thestatesignal.com/trumps-administration-wants-to-terminate-saving-on-a-valuable-education-save-plan/
#thestatesignal #donaldtrump #news #uspolitics #usnews #breakingnews #government #education #saveplan #usanews #policy #law #trump #usa #american #america
Annie Nova reports the Trump administration ends the student loan payment pause, risking millions in the SAVE plan facing repayments soon. This shift pressures borrowers amid ongoing economic challenges. Learn more about the implications for higher education and student debt relief. Read the full article: https://www.cnbc.com/2025/12/09/save-student-loan-payment-pause.html #StudentLoans #HigherEd #SAVEPlan
If this doesn't get folks out onto the streets, I don't know what will! #StudentLoans are a HUGE burden that hangs over a lot of peoples' heads -- and #IncomeDrivenRepayment programs are the only thing keeping them from not being able to make ends meet and / or having their #credit ruined! And taxes on scholarships? Seems the #FascistGrooveThing wants to #SilenceDissent by providing barriers against an #EducatedVoter!
House Republicans mull taxes on scholarships and changes to student loan programs
By CHEYANNE MUMPHREY
Updated 11:51 PM EST, February 8, 2025
"As Republicans in Congress look for ways to slash spending, some legislators are floating new taxes on college #scholarships, an end to #StudentLoan #repayment plans and a big hike in taxes on university endowments.
"The ideas affecting #HigherEducation are among many in circulation among House committees that are exploring ways to cover the cost of extending and expanding tax cuts passed in President Donald Trump’s first term.
"The recommendations are still evolving, and it’s unclear how close any of them will get to being implemented. Regardless, advocates across higher education say they are alarmed to see such proposals gain traction at all with Republicans.
"'It’s shocking to me because this amount of cuts is not happening in reaction to like a budget crisis, like a #recession. This really feels different in the sense that it is not something that there is an external push or a need for. So, it feels more #ideological in a way,' said Jessica Thompson, a higher education policy expert with The Institute for College Access and Success.
"Here is a look at possible federal budget cuts that would affect higher education under the Trump administration:
"Cutting programs that help students pay off college debt
"The U.S. House Committee on Education and the Workforce has suggested several possible ways to overhaul student loan programs. Some would reduce student access to federal aid for college.
"On the chopping block potentially are several plans students can opt into to repay their students loans, including the #SAVEPlan introduced by the Biden administration. That plan doesn’t require borrowers to make payments if they earn less than 225% of the federal poverty line — $32,800 a year for a single person — and prevents interest from adding to balances as long as borrowers make their monthly payments. The SAVE plan was already put on hold after Republicans challenged it. Some plans do not appear to be targeted, including one that caps loan payments based on borrowers’ income level.
[...]
"An end to tax-free status for scholarships
"Scholarships and fellowships have been exempt from taxes as long as they are used for tuition and related expenses. That would change under another proposal that’s up for consideration.
"The changes could create new financial burdens for students and families, advocates say.
"'There’s been great progress in bringing down the costs of higher education. Adjusted for inflation, public university tuition is less now than it was ten years ago,' said Craig Lindwarm, senior vice president of governmental affairs with the Association of Public and Land-Grant Universities. 'But as we look at some of the proposals that are options, many would increase costs on students and families, and I think (the proposals) are heading in the direction that most don’t want to see, which is increasing expenses on students and families.'
Read more:
https://apnews.com/article/trump-administration-education-college-loans-532d52c2ccac8b4be459f7797fb63a73
#USPol #Fascism #CharacteristicsOfFascism #SignsOfFascisn #ResistFascism #Education
I just learned this morning that I don't have to make student loan payments for a while because Biden's #SAVEPlan is blocked in court. This article characterizes borrowers as "in limbo" because of this, but all I'm seeing is 0% interest and no payments. Good stuff, #Republicans. Keep it coming! 😎
#studentLoans #studentLoanForgiveness
https://thecollegeinvestor.com/47160/8th-circuit-court-blocks-bidens-save-plan-completely/
Loan repayment
Hope for a better life
Monthly bills lowered
Financial freedom, relief
SAVE
#studentloans #saveplan #bidenplan #financialfreedom #cinquain #poetry
https://www.cnn.com/2023/09/05/politics/biden-student-loan-repayment-plan-save/index.html
#StudentLoan matters keep me up on a few nights. With the back and forth in Congress re: #StudentLoanForgiveness.... I have had to visit my student loan profile more times than I care to remember.
(Note that I actually came into the system at $14,730. Thats the original amount I borrowed. Sadly, my loan being passed around like a doobie at a Dead concert has created the false amount of 16K as my original loan amount)
Im now going onto the #SAVEPlan, which is the current route to the student loan stuff
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