Monday's D3 Daily Action
Our fears are starting to come true!
The Washington Post just leaked Trump’s higher education budget proposal and the news is deeply concerning. Under the disastrous plan, Donald Trump and Betsy DeVos would direct deep cuts that will defund public investment in higher education and do irreversible harm to students and borrowers. We cannot let this happen.
Send an urgent letter to Congress. Tell lawmakers to reject Trump’s budget proposal.
Here is how Trump’s budget proposal, if passed, would impact students and student loan borrowers:
- ENDS the Public Service Loan Forgiveness program. Currently, there are over 550k borrowers who have applied for the program - we have been given no guidance as to whether or not they will be grandfathered in, leading to more uncertainty for students and borrowers.
- ELIMINATES $3.9 billion from the Pell Grant fund.
- ELIMINATES subsidized loans that allow currently enrolled students to delay interest payments.
- ELIMINATES Perkins Loans offered to students with financial needs.
- REPLACES all income-driven repayment programs with a new program, created by Trump, that significantly increases costs for graduate students.
- 12.5% for 15 years for undergraduates.
- 12.5% for 30 years for graduate students.
Ever since Trump appointed Betsy DeVos to lead the Education Department, the two billionaires have unleashed a destructive student loan agenda that harms working- and middle-class families. They increased fees for borrowers who are behind on their payments. They opened the door for predatory student loan companies to access lucrative federal contracts. They even threatened the acceptance letters of public servants who were promised loan forgiveness. Now, Trump wants to go even further. This budget is the final nail in the coffin for current, former and future students.
This is all we know right now. We are still waiting to see the final budget next week, hopefully. As they say… “the devil is in the details!”
Read more about this urgent news story here.
Thank you, for taking action.
This action courtesy of Student Debt Crisis.