A proposal by President Trump should raise student concern about student loans and their financial future, and would do more harm than good.

 The proposed change would include a higher interest rate and the elimination of loan forgiveness as well as public service loan forgiveness. The average 10 percent of annual income repayment could skyrocket to 12.5 percent, according to a Feb. 12 CNBC article.

Public service loan forgiveness is one of the major issues, as it affects so many who are considering working in public school systems or public service in general. Loan forgiveness is given out on a rare basis, in which the borrower must make monthly payments for 10 years. The program allows those who may not have been directly working in the public school system to shift focus with the benefit of loan forgiveness.

“I am worried at the thought of repaying these loans because the second I walk off stage, I know I have to have a big girl job right away,”  Lindsey Justin, senior general studies major, said. 

Justin said she plans to work as a paraprofessional, and the average salary of this profession is around $30,000 according to Glassdoor’s website. She said she has taken out nearly $30,000 in loans, not including interest.

 Interest figures on average are around 5 to 7 percent, and the proposal would be bump up Justin’s loan repayment to $32,000.

Without the loan forgiveness plan that would be offered to her career field, the plan would leave Justin with a longer repayment schedule. 

“I don’t know why they would get rid of loan forgiveness,” junior finance major Steven Coley said. “People have a hard enough time paying back their loans so why make it harder?”    

Coley said he has yet to take out any loans so far but will be taking out a loan next semester, and the idea the proposal would raise interest rates for loan payments is dumb.

Proposals to raise interest rates is ridiculous, and any government official who might approve this proposal should think about its affects. It should not be a surprise  the businessman in Trump has such disdain for those working in public service.

Trump serves a public office, yet cannot shake his business side. Betsy Devos has her hands all over this proposal as her sole purpose as the Secretary of Education is to ruin the educational future of America.

The public service loan forgiveness program is great for those looking to be part of the public school system, but if these proposals were to go through it would prevent the drive of future teachers. Pell Grant expansion is the only good thing to come out of the proposal, although the emphasis is only on short training programs is a hindrance for graduate students.

If passed, Pell Grants would be expanded for short-term training, such as trade schools and the like, according to the report. The grants are invaluable for college students as currently they do not have to repay the government.

While this is only a proposal and not the letter of the law, proposals like these would be a major step back for those looking to expand their horizons with a college diploma. The trades would be benefited the most from this proposal, yet this proposal is more parasitic than mutually beneficial to the next generation of students.