Student Loan Program Faces Major Cuts in Trump Budget

Clare McCann was quoted in Consumer Reports on President Trump's proposed budget to Congress and how they would affect student loan programs. 

Still, given the Republican-controlled Congress, some analysts think there’s a good chance that some portions of Trump’s budget may be enacted.

“By making it clear that this is an administration priority, Trump gives lawmakers political cover to pursue their own higher education cuts,” says Clare McCann, senior policy analyst at New America, a think tank.

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“This cut really wallops those who need it most—people who need graduate degrees to pursue relatively low-paying careers in public service,” McCann says.

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But Trump’s loan repayment plan would create major problems for graduate students. Those higher repayments would be stretched over 30 years. “Most grad students will not see an advantage to using 30-year income repayment,” McCann says. “It’s a lot like taking on a mortgage.”