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The_RedWolf 1 point ago +1 / -0

It's the pslf program, law passed in 2007, it's not the same thing as the "lol let's forgive 20K just because" Biden program that SCOTUS shot down

Basically it's: refinance for 25 years, make 120 on-time monthly payments while working for non-profit/public service and they'll forgive the remaining years. The benefit only activates at the end, so if someone leaves early they still have to keep paying their entire loan back. (This also means if you leave public service for a few years and come back, you get to unpause the clock)

The PSLF ends up being a net positive to tax payers because it keeps government wages and turnover training costs down that such an extent that it's better than paying the loan back

Trump doesn't have an issue with this program, it just became political because he was the first one who had to deal with it in 2018 and there was a lot of confusion and the left media got mad in 2018 and the right media use it as a way to bash Biden in 2024. Trump eventually cleared it up and now it works as intended, Biden is just continuing it as required

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The_RedWolf 1 point ago +1 / -0

Yeah Public service loan forgiveness program

Law signed in 2007 under Bush, passed 297-92 and 78-12 in the house and senate.

You have to pay on your loans for 10 years and they'll forgive the last 15. It was done as a way to entice people to stay in lower paying and high turnover fields like police, firefighters, teachers, military, charity workers, non-profit employees, religious workers etc.

While most of the benefactors are going to be local and state government workers, there are people who work for places like St Jude's or animal rescues, pastors at churches etc

The only reason it became political was it only reached maturity in 2018 under Trump and nearly everyone was getting denied due to confusion in how logistically it was supposed to work. Trump's admin eventually figured it out and started forgiving loans for those workers who completed the 10 year agreement. Biden is only continuing the program as intended. Trump is expected to do the same again.

There's little motion to disband the program because it's mostly government and taxpayers getting the benefit as the lower training costs due to turnover, lower salaries and greater stability in government end up being a net positive over the remaining loan and interest payments

This is very very different than the "lol let's forgive 20K just because" Biden plans of 2021