As a social worker, psychotherapist, MSW, LCSW, PPSC my profession pays me well. Who said social workers don’t make money lol trump new student loan rules increased my sliding scale rate. Now 120-250 an hour boo we are living in the last days
NEW STUDENT LOAN RULE WILL USE IRS INCOME DATA TO DETERMINE WHICH COLLEGE PROGRAMS KEEP FEDERAL LOAN ACCESS
The Education Department is changing how some college programs qualify for federal student loans.
Here’s what the rule actually does:
• Starting in 2027, the department will use IRS income data to calculate the median earnings of graduates from individual programs.
• For undergraduate programs, graduates’ earnings will generally be compared with people who have a high school diploma but no college degree.
• For graduate programs, earnings will generally be compared with people who have a bachelor’s degree.
• A program does not lose federal loan eligibility after failing the test once. It must fail in two out of three years.
• If it repeatedly fails, the program can lose access to federal Direct Loans for new students.
• The rule can affect programs at public, private nonprofit and for-profit colleges.
• It does not ban students from enrolling in a program or prevent colleges from offering the degree.
• Students already enrolled may have protections allowing them to continue receiving federal loans while completing their program under certain conditions.
The programs that could be affected include fields such as social work, education, fine arts, music, religious studies, cosmetology and other programs where graduates’ earnings may fall below the government’s benchmark.
The important distinction: the government isn’t declaring these degrees worthless or eliminating them. The rule determines whether students can use federal Direct Loans to finance certain programs based on their graduates’ earnings.
The new framework takes effect July 1, 2027.