November 3, 2015

HIGHER EDUCATION BUBBLE UPDATE: Every Job Is A Public Service.

Two students borrow to earn nursing degrees. The one who works at a public hospital can pay an “affordable” percentage of his income for 10 years, then erase the rest of the debt under the Public Service Loan Forgiveness program (PSLF). The other works as a nurse at a private hospital. That’s not considered public service, so the debt has to be repaid in full. Every job is a public service, argues Alexander Holt on EdCentral. Under PSLF, anyone who works for a government agency or non-profit — payroll supervisor, computer tech, accountant — is a public service worker. About a quarter of the workforce qualifies. Nobody who works for a for-profit company — no matter what they do — can get the same debt forgiveness deal.

It’s as if it’s just a subsidy for groups of people who overwhelmingly vote Democrat or something.

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