Trump Wants To Spend Your Student Debt Forgiveness On The Border Wall Instead

On Monday (February 10), President Donald Trump released a financial range proposal for 2021 that would cost $4.8 trillion. His aims? Increase funding for the southern border wall and cut programs like Medicaid, housing assistance, and student cash advance forgiveness programs, the New York Times reported.


The financial range, which is Trump’s fourth and final financial range proposal of this term, was submitted to Congress on Monday (February 10), although yet still has to create its way through lawmakers and is subject to change. According to the Times, Trump is asking Congress to approve $4.4 trillion in spending cuts over the next 10 years, including about $170 billion from student cash advance debt initiatives.


The student cash advance debt initiative cuts include “sensible annual and lifetime cash advance limits” for graduate students and parents and would signal the end to subsidized cash advances if it’s passed, according to CNBC. The plan, titled “A Financial range for America’s Future,” would also eliminate subsidized student cash advances, in which the federal government pays for the cash advance interest while a student is enrolled in college; cancel $3.9 billion from the Pell Grant Surplus; and streamline student cash advance repayment plans, according to Forbes.


it can also eliminate the public cash advance forgiveness program signed into law by President George W. Bush in 2007, according to CNBC. That program permits the government to cancel the student cash advance debt of any person who works for a not-for-profit or the government for 10 years if they make on-time payments while in that decade, CNBC reports. (This isn’t the initial time the Trump administration has come under fire for their treatment of students who were promised cash advance forgiveness for working in public service — a 2019 report found that a recent expansion of the program turned away 99 percent of applicants between 2018 And might 2019, largely due to a paperwork technicality.)


According to the new financial range proposal, undergraduates could have the ability to apply for federal student cash advance forgiveness soon after 15 years. The proposal also includes the expansion of Pell grants for temporary programs and makes them accessible to certain incarcerated students.


It’s unclear if anything this stark will actually pass by way of the same Home of Representatives that recently voted to impeach the President, nevertheless it will probably be piece of conversation because the 2020 presidential race rages on.


In comparison to Trump’s current take on student cash advances, all four of the best Democratic candidates are vying to increase access to student cash advance debt forgiveness. Former Vice President Joe Biden promises to increase access to Pell grants for community college classes for high schoolers and revamp the Public Service Cash advance Forgiveness Program to support public school teachers, government personnel and those who work for certain not-for-profit corporations. Former Mayor Pete Buttigieg — who has a combined $130,000 of student cash advance debt with his hubby Chasten — also advocates for Pell grants and government partnerships to lower tuition expenses. Sen. Elizabeth Warren would forgive up to $50,000 in student cash advance debt for people who make far less than $100,000 each year, which means most of them of people with student cash advance debt would benefit from her plan. (A two-cent tax on ultra-millionaires would just be paying the variation in forgiven debt.) Sen. Bernie Sanders with little effort has the most aggressive student cash advance debt plan: He wants to cancel all of it.