The Presidential Transition Project called “Project 2025” outlines a road map for how a new far-right presidential administration could take over the country. You can be sure Trump did not write this as it is readable. Former President Trump and his allies’ plan would have devastating impacts on our lives and our democracy, from banning abortion and contraception to gutting our system of checks and balances. One underdiscussed aspect of Project 2025 could leave student loan borrowers paying $thousands more every year and eliminating any chance at earned debt cancellation: For years, MAGA Republicans have pushed ideas to weaken higher education in the United States. Plans which include blocking efforts to allow student loan borrowers to earn
Topics:
Angry Bear considers the following as important: politics, project 2025, student loans, Trump
This could be interesting, too:
Editor writes The 2024 economic laureates and more Nobel nonsense
Bill Haskell writes After Pandemic, Health Insurance for Those Losing Medicaid Results in Employer Coverage
Joel Eissenberg writes The Administrative state
Angry Bear writes Taxes, Postage, and Medicare Updates
The Presidential Transition Project called “Project 2025” outlines a road map for how a new far-right presidential administration could take over the country. You can be sure Trump did not write this as it is readable.
Former President Trump and his allies’ plan would have devastating impacts on our lives and our democracy, from banning abortion and contraception to gutting our system of checks and balances. One underdiscussed aspect of Project 2025 could leave student loan borrowers paying $thousands more every year and eliminating any chance at earned debt cancellation:
For years, MAGA Republicans have pushed ideas to weaken higher education in the United States. Plans which include blocking efforts to allow student loan borrowers to earn relief, allowing predatory lenders to take advantage of students, and even eliminating the U.S. Department of Education. The latest Project 2025 student loan repayment plan would force student loan borrowers enrolled in the Biden-Harris administration’s affordable loan repayment plan (Saving on a Valuable Education or “SAVE”) to shell out up to $4,000 more each year in student loan payments.
In retrospect affording and paying for an education should not be a lifelong burden. Alo the gains to be had by the economy far outstrip costs. The sooner we eliminate the costs, the sooner we gain in productivity. However Trump and MAGA Republicans prefer a subservient population and one tied to them for needs.
Under Project 2025, Trump and MAGA Republicans would phase out existing income-driven repayment plans for student loan borrowers and replace them with a one-size-fits-all repayment program. The plan would allow runaway interest to accrue unchecked. This even for borrowers making on-time payments. It would also eliminate debt cancellation programs. Trump and MAGA Republicans want to break America’s higher education system even further than it already is. It will result in higher education is only accessible to the wealthiest few.
The Project 2025 repayment plan offers no flexibility to account for borrowers’ financial picture and eliminates the SAVE plan’s zero-interest benefit for those making on-time monthly payments. It threats to bring back ballooning balances even for borrowers. Project 2025 and MAGA Republicans would usher in a devastating blow to the millions of Americans every year who have to take out debt in order to obtain a higher education and pursue a better future.
Your student loan bills would climb HIGHER under Project 2025, American Progress