Paul L. Caron

Tuesday, February 18, 2020

CBO: Graduate And Professional School Students Account For 81% Of Loan Forgiveness

Congressional Budget Office, Income-Driven Repayment Plans for Student Loans: Budgetary Costs and Policy Options:

CBO examines how enrollment in income-driven plans has changed and how those plans will affect the federal budget. CBO projects the costs of two sets of options that would change the availability of such plans or change borrowers’ payments.

CBO 2-1

CBO 3-1

Legal Ed News, Legal Education | Permalink


Well, duh. Your garden-variety JD/MD/MPH/MPP/etc. is more expensive than a four-year degree and financial aid harder to come by. And the maddeningly complex PSLF system kinda lends itself to needing multiple degrees to suss out - I mean, even the comparatively routine annual recertification for IBR plans is byzantine enough to knock a plurality of enrollees out of those plans. This headline falls under the "Water is wet" category. And it will remain thus for the remainder of the 2020-2029 window, as only PSLF loans will be forgiven during that time. As the repayment window for IBR and PAYE are 20-25 years and those plans originated 10-12 years ago, no one will be eligible for loan forgiveness under those plans until the 2030s.

Posted by: Unemployed Northeastern | Feb 18, 2020 10:09:49 AM