What Thursday’s Confirmation Hearing Tells Us About the Future of Student Loans | Global News Avenue

President Donald Trump’s nominee is in charge of the U.S. Department of Education says she will execute the essential student loan program if Congress approves them.

period Linda McMahonShe elaborated on the department’s vision at a congressional hearing Thursday. She did show that the Public Service Loan Forgiveness Program (PSLF), the Pell grant will remain and can even be expanded. However, what is obviously missing is the mention of the suspended student loan repayment plan.

Senators have not voted to confirm that McMahon is the former CEO of World Wrestling Entertainment (WWE), who leads the Small Business Administration in Trump’s first administration. Here are some of the things we learned about how she will get a student loan.

As long as Congress continues to fund, she will implement PSLF

McMahon confirms that she will fully implement the Public Service Loan Forgiveness Program (PSLF) Under the guidance of Congress. If Congress approves other forgiveness plans, she also opens the door to other forgiveness plans.

“In fact, Congress has passed some plans that are actually granting loan forgiveness for public services, first responders, military, etc. We should certainly respect those plans.” “If we want to be stronger or more,” McMahon said. The loan forgiveness program, then I think Congress should pass those programs and then we will implement it.”

Republican congressional leaders are crucial. Proposed cuts or reductions in student loan forgiveness programsincluding PSLF, as the program increases federal budget and tax costs for all Americans. Republicans control the House and Senate, making it more likely that they would pass such legislation.

McMahon will encourage expansion of Pell grant

McMahon says she won’t refund Pell Grantis the largest source of federal aid grants. McMahon said at the hearing that she even hoped to see an expansion of Pell’s short-term certificate program.

“I absolutely think the Workforce Pell grant is something that can inspire our economy and offer opportunities for those who want to participate in skilled learning,” McMahon said. “If these students want to become electricians, HVAC developers, and apprentices.” and internships, that will allow these students to enter the workplace faster.”

Congress has developed a Pell grant budget, and recent federal budget proposals suggest that some Republican lawmakers want reforms and cap grants for the cost of classes.

Ministry of Education shuts down potentially endanger student loan repayment program

Other student loan repayment plans are not mentioned directly. Borrowers under certain repayment plans, e.g. Save valuable education (save) program, In trouble Due to ongoing litigation.

Ministry of Education handles student loans, McMahon outlines a plan at the hearing It’s essentially intestinal.

In the past, Trump has agreed Eliminate the Ministry of Education. But Congress will have to pass a law to cut departments and it will be difficult to get enough votes to do that.

Although McMahon confirmed that the department could not be closed without Congressional action, she said its funds would be analyzed and possible to be allocated in different ways.

The Ministry of Education manages federal student aid and provides grants and loans to college students. McMahon didn’t say what would happen to student loans if the department was phased out.

If the Ministry of Education is phased out, federal student loans can be transferred to another federal agency, such as the Ministry of Finance, Michelle Zampini. Investopedia.