Education Nominee McMahon Vows to Preserve Public Service Loan Forgiveness Program
Linda McMahon, President Biden's nominee for Secretary of Education, has affirmed her commitment to continue the Public Service Loan Forgiveness (PSLF) program despite potential opposition within the Trump administration.
PSLF Program Background
The PSLF program grants loan forgiveness to government and nonprofit employees who make 10 years of on-time loan payments. Republicans have often criticized the program for its perceived high costs and preference for public sector employees over private sector workers.
Biden's Expansion of PSLF
Under the Biden administration, the Department of Education has prioritized the PSLF program, forgiving over 1 million borrowers since 2021. Reforms have included streamlining the application process, allowing past payments to count towards forgiveness, and broadening the definition of on-time payments.
McMahon's Commitment to PSLF
McMahon stated that she "should honor" existing loan forgiveness programs, including PSLF, regardless of pressure from the Trump administration. She emphasized that continuing the program is in accordance with the law.
Concerns and Challenges
Despite McMahon's assurances, some student advocates express concerns about potential setbacks to the PSLF program. They point to the appointment of industry lobbyists to key Department of Education positions and the potential for service disruptions by Elon Musk's team.