The Obama Administration is looking to cap public interest loan forgiveness at $57,500. THIS IDEA IS TERRIBLE!
Here is why:
The Numbers:Â Law school costs upwards of $150,000. Graduate programs can run you $50,000. Undergraduate is around $100,000.Â
The Current Program:Â For people who work in the public interest (basically, people working for non-profits and government), after 10 years of work, your federal debt is forgiven.Â
What This Change Will Do:Â Basically, anyone that wants to use their very expensive education to do work in the public interest will not get their federal loans forgiven. These people (self included) will get pushed into the private sector at least temporarily in order to get out from under crushing education debt. The longer you work not in your actual field, the harder it becomes to move into it.Â
New students will not seek out higher education to do the work they want to do, and the interplay between theory and practice will be further weakened.Â
This change punishes economically disadvantaged people that want to serve their communities. This change is the opposite of community service the Administration promotes. This change is going to drain the public interest community of many excited and passionate people that simply cannot afford to take on or live under massive amounts of debt.
TL;DR: Please sign this petition to help those people committed to the public afford to do their very important work.
SIGNAL BOOST! This is really important. Please sign.









