Those working at some public service nonprofit organizations would be barred from getting student loan forgiveness under the Education Department.
President Donald Trump is gearing up to sign an executive order that would ban certain borrowers from obtaining student loan forgiveness.
Those working at some public service nonprofit organizations would be barred from getting student loan forgiveness under the Education Department’s current options.Why It Matters
At the moment, the Public Service Loan Forgiveness (PSLF) program enables government and nonprofit employees to have their remaining student loan balances cleared after 10 years of consistent payments.
If Trump does prohibit some workers from getting student loan forgiveness, there could be larger implications for the impacted nonprofits, with potentially fewer job applicants for open roles at those organizations in the future. White House Staff Secretary Will Scharf said Trump is set to sign the executive order.What To Know
The nonprofits affected would be those deemed by the administration to be engaged in „improper activities.“ The details on such „activities“ remain unclear.
But Michael Ryan, finance expert and founder of MichaelRyanMoney.
