President Trump and Education Secretary Betsy DeVos released a fiscal 2019 budget Monday that rehashes many of the proposals floated by the White House last year. Among them are plans to ax loan forgiveness for public servants, alter the terms of income-driven student loan repayment and stop paying the interest on low-income students’ loans while they are in school. Those three changes alone could increase the cost of higher education for borrowers by more than $200 billion over the next decade.
A company that once had financial ties to Education Secretary Betsy DeVos was one of two firms selected Thursday by the Education Department to help the agency collect overdue student loans. The deal could be worth hundreds of millions of dollars.
Donald Trump is promising the most liberal student loan repayment plan since the inception of the federal financial aid program, in a clear effort to court the millions of Americans struggling with the high cost of college.