This week, the White House proposed massive changes to PSLF in the Budget of the United States Government, Fiscal Year 2015. The proposed changes have many students and professionals worried. Notable proposed changes include:
- A $57,500 cap on amounts forgiven. Borrowers with student loan debt exceeding $57,500 will need to make 25 years of payments (a 15 year increase from the original 10 years).
- Payment calculations for married borrowers filing will be made on combined household adjusted gross income, rather than the borrower's income alone.