Wednesday, May 31, 2017

Taking Out Student Loans? Here Are 4 Ways Trump’s Budget Could Affect You - Kaitlin Mulhere, Money

A first look at President Trump’s proposed 2018 education budget revealed massive changes to the federal financial aid system, including work study cuts, reshaping student loan payments, and eliminating a loan forgiveness program. The White House’s official 2018 draft budget proposal outline a more than $9 billion cut to the Education Department. The department's spokeswoman Liz Hill said in an email that the department wasn't commenting on the budget until it was released next week and that until then, negotiations are ongoing and numbers are preliminary. A president’s spending proposal has to go through Congress before becoming a budget, so it’s possible these cuts will be tweaked or removed from the final version altogether. Still, they reveal Trump’s and Education Secretary Betsy DeVos’s education priorities. Here’s what’s on the chopping block for college students and student loan borrowers.

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