2015 Obama budget

[New User 122121]

Obama's budget proposal guts the PAYE and PSLF programs for doctors and other high debt professionals. It is unlikely the budget will be enacted as is, but the fact that this proposal would save money makes me believe that it could easily be slipped into another unrelated bill. Those of us public sector workers who have been counting on this are about to get screwed.

 

[New User 122121]

These are basically the key points:
* PAYE is lengthened to 25 year from 20 year
* Payments would be calculated from combined household adjusted gross income. So if both partners work, it's best not to marry.
* Payments rates/caps you signed when coming out of med school are eliminated and new monthly payments are 10% of your discretionary income.
* Loan forgiveness is capped at $57,500 with no grandfathering. Say goodbye to the promises in the MPN we signed.

http://www2.ed.gov/about/overview/budget/budget15/justifications/s-loansoverview.pdf