Among the provisions in the President's proposed budget is a change to the way that public student loan forgiveness programs work. Specifically, the amount that a public employee could have forgiven would now be capped at $57,500, with the remainder to be paid out over a 25 year span. WSJ story here
Among the changes proposed Tuesday, individual borrowers would face new limits on how much debt that could have forgiven. The amount forgiven for public-sector workers would be capped at $57,500. Borrowers with debt loads above $57,500 would make payments for 25 years. And payments for married borrowers filing separately would be calculated on their combined household adjusted gross income.
