Last week, NTEU National President Tony Reardon sent a letter to the Secretary of Education regarding the President’s Fiscal Year 2018 budget request to Congress seeking the elimination of the Public Service Loan Forgiveness (PSLF) Program.
Under this program, individuals with certain types of federal student loans, and who work for the government (local, state, and federal) or at qualifying not-for-profits who perform public services, have been eligible for the remaining balances of their loans to be forgiven once they have made 120 qualifying monthly payments under their repayment plans. The PSLF has been a popular program in recent years for federal employees as it has allowed individuals whose professions require costly higher education to afford to come to work for—and to stay—at federal agencies.
In addition to recruitment and retention concerns for agencies should this program be eliminated by Congress, Tony has asked for confirmation that such a change, were it to occur, would only affect individuals taking out future loans, and have shared ongoing customer service difficulties and concerns about the current program.
Clearly, there are a significant number of questions that need to be address based on the President’s budget for individuals who have already made significant financial and career choices based upon the promises of this important program.