How do these latest proposals affect your student loans? #2 and #4 may surprise you.
President Trump has a new budget proposal that may affect your student loans.Trump’s budget requests $66.6 billion for the U.S. Department of Education, which is a 7.8% decrease from current funding. The White House wants to rein in federal spending and shrink the size of the federal government.
This means that your interest costs for your federal student loans would be higher. program. This student loan forgiveness forgives federal student loans for borrowers who are employed full-time with a qualified public service or a non-profit employer. Currently, borrowers in this program receive federal student loan forgiveness after 120 monthly payments.The budget limits the annual and lifetime amount that parents and graduate students can borrow for school.
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