Trump to sign executive order limiting Public Service Loan Forgiveness program

President Donald Trump is expected to sign an executive order later on Friday excluding certain student loan borrowers from the popular Public Service Loan Forgiveness program.

Speaking from the Oval Office, Trump accused the PSLF program of including organizations that "engage in illegal, or what we would consider to be improper, activities."

href="https://www.cnbc.com/2025/03/06/student-loan-borrowers-in-the-dark-as-trump-targets-education-dept.html">PSLF, which President George W. Bush signed into law in 2007, allows many not-for-profit and government employees to have their federal student loans canceled after 10 years of payments.

Consumer advocates were quick to criticize Trump's move.

"Donald Trump is weaponizing debt to police speech that does not toe the MAGA party line," Mike Pierce, executive director and co-founder of the Student Borrower Protection Center, wrote on X. "Our Democracy is on fire."

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