U.S. Rep. Ryan Costello (R-PA) has co-founded the Public Service Loan Forgiveness (PSLF) Caucus to protect the federal PSLF program and advocate on behalf of the public service workers who benefit from the program.
U.S. President Donald Trump’s fiscal year 2018 proposed budget called for ending the PSLF program, which was created in 2007 to set up repayment plans for any postsecondary monies received under the William D. Ford Federal Direct Loan program.
“We must fulfill the promise made to these student borrowers over the past decade,” Costello said earlier this month. “Many teachers, first responders and public health specialists are working hard to make a difference in their local communities while relying on the Public Service Loan Forgiveness program.”
Specifically, the PSLF repays the remaining debt on this Direct Loan once a full-time employed public servant who works for a qualifying employer — such as the government or nonprofit, among others — makes 120 on-time, consecutive monthly repayments on the loan.
The PSLF program, which is nearing its 10-year anniversary, was designed to encourage careers in public service by helping ease the burden of college debt.
U.S. Rep. Brendan Boyle (D-PA), who also co-founded the caucus, said there are plans to explore additional legislative options to entice more college students to pursue careers in public service.
“Current threats to end or limit the program are shortsighted, to say the least,” Boyle said. “PSLF is an incentive to our students, and an investment in our future.”
The PSLF Caucus already has garnered the support of a coalition led by the National Education Association that’s comprised of more than 50 organizations.