The Obama Administration’s proposed FY2015 budget includes some changes to student loan programs and public service loan forgiveness (PSLF) programs that may concern law students and young lawyers. These changes include a proposed cap of $57,000 on the amount of loans that can be forgiven under PSLF and limiting the types of loan payments qualifying for forgiveness and the eligibility for income-driven repayment options. A White House petition has been started by some law students seeking to have the Administration modify its proposal.
We strongly encourage you to learn more about the PSLF program, and the impact of the proposal passing. A good resource for more information can be found on the Equal Justice Works’ website. Click here to learn more about PSLF, and click here to learn about President Obama’s proposal. You have the opportunity, in your personal capacity (not as a representative of the ABA) to sign the White House petition by clicking here.