GOP Proposes A New Bill To End Student Loan Forgiveness For Workers In Public Service
The PROSPER Act was introduced by members of the House Committee on Education and the Workforce.
House Republicans are proposing massive changes to higher education. A new bill introduced by Rep. Virginia Foxx (R-N.C.) and Rep. Brett Guthrie (R-KY), of the House Committee on Education and the Workforce, last Friday (Dec. 1), would eliminate various protections for students, including ending student loan forgiveness for graduates working in public service.
The Promoting Real Opportunity Success and Prosperity through Education Reform Act, is touted as a plan to “support students in completing an affordable postsecondary education that will prepare them to enter the workforce with the skills they need for lifelong success.”
The purpose of the bill is to ease federal taxpayer funding in public education, Forbes notes.
As it stands, borrowers who enter the workforce in fields including teachers, government organizations and non-profits, as well as full-time AmeriCorps employees and Peace Corps volunteers, are eligible for the student loan forgiveness program after 10 years of loan repayments.
Click here for more on the PROSPER Act.