ALL FEDERAL LOANS STOPPED WITH EXCEPTION
By: Derek Varsalona
Call it cruel and unusual punishment. President Trump stopped and froze all federal loan programs effective 5pm Tuesday. This is not a time to be having a frozen margarita. I wonder what is going to happen to my Social Security payments that I rely on for living with my parent's support.
The White House paused all federal loan programs effective at 5pm EST yesterday night. That means the country is coming to a halt instead of being prosperous. President Trump should have contributed to the loan programs and the federal government could have made money over time with interest collections on the loans. I don't know what he was thinking about saving money.
The two programs that are not included are Social Security and Medicare, so I may be in the clear since I rely on those programs for some independence and my parent's support.
But I am concerned about the adults that are going to college right now or in the future. Is their loan going to be iced over? If so how are they going to pay for college? Most people do not have an out-of-pocket expense for college.
This is considered cruel and unusual punishment. Hopefully, more information will be added to the White House website. But as of 7:11am EST, there is no information on the White House website. What is President Trump trying to hide other than the facts on this program? As always comments accepted.
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| You're out of luck Image: CBS19.tv Tuesday, January 28, 2025 |
Source: Jen Hansler. " All Federal Loans and Grants Disbursement Paused by WhiteHouse." CNN.com Washington, DC: Tuesday, January 28, 2025. https://www.cnn.com/2025/01/27/politics/white-house-pauses-federal-grants-loan-disbursement/index.html
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