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1. Elimination of Parent Plus loans by July 1, 2025 2. Limits on unsubsidized federal student loans by July 1, 2025 3. Elimination of tax exemption for scholarships and fellowships 4) Change in formula to calculate federal student aid eligibility based on median cost of attendance nationally instead of COA 4. Change in formula to calculate Pell grants based on median cost of attendance nationally instead of COA 5. Elimination of tax deduction for student loan interest 6. Elimination of student loan interest forbearance while in school 7. Limit Education Department's authority to increase student loans 8. Risk sharing payments required by colleges to participate in federal student loan and PROMISE program 9. Eliminate SAVE plan for student loan reimbursement 10. Changes in criteria to limit public service loan forgiveness 11. Elimination of Head of Household (impacting single parents) 12. Eliminate state and local income tax deduction 13. Eliminate mortgage deductions

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1. Elimination of Parent Plus loans by July 1, 2025 2. Limits on unsubsidized federal student loans by July 1, 2025 3. Elimination of tax exemption for scholarships and fellowships 4) Change in formula to calculate federal student aid eligibility based on median cost of attendance nationally instead of COA 4. Change in formula to calculate Pell grants based on median cost of attendance nationally instead of COA 5. Elimination of tax deduction for student loan interest 6. Elimination of student loan interest forbearance while in school 7. Limit Education Department's authority to increase student loans 8. Risk sharing payments required by colleges to participate in federal student loan and PROMISE program 9. Eliminate SAVE plan for student loan reimbursement 10. Changes in criteria to limit public service loan forgiveness 11. Elimination of Head of Household (impacting single parents) 12. Eliminate state and local income tax deduction 13. Eliminate mortgage deductions
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Mother Bones (_l1vy_@mstdn.social)'s status on Sunday, 09-Feb-2025 05:13:37 JST Mother Bones
in reply to

Via hillary
@OpeningMyHeart
Feb 8, 2025, 12:47 PM
"The Ways and Means Committee just released a memo detailing their cuts. For US Students or their parents, here's screenshot of ways you might be affected."
[Note: I hate tiny url but I can't get the real link because this opens up a document, not a page 🙄]
https://tinyurl.com/3tt3nv4c

In conversation about a month ago from mstdn.social permalink