Trump will rollback student loan forgiveness

[Anonymous]

Anonymous wrote:As usual, most of you didn’t bother to read the article.

Nothing in it is crazy. It sounds like SAVE will not be defended (expected), borrowers will go back into older, less generous plans (expected), and this will all be a mess that will takes months to sort out (expected). No one is getting forgiveness revoked. And no discussion of destroying PSLF or the older repayment plans for existing borrowers.

Not to mention a lot of Biden’s forgiveness policies were stopped by the courts in the first place.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Seems like he's dead set on rolling this back and rolling it bak quickly: https://www.politico.com/news/2024/11/26/trump-rollback-biden-student-debt-relief-00189841

good

She says, from the perch of her overpriced urban farmhouse in N. Arlington that her formerly poor, nerdy grad student husband who she had the brilliant foresight to see potential in paid for with his seven-figure “sales” job.

We paid back our loans. You can too.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Seems like he's dead set on rolling this back and rolling it bak quickly: https://www.politico.com/news/2024/11/26/trump-rollback-biden-student-debt-relief-00189841

good

She says, from the perch of her overpriced urban farmhouse in N. Arlington that her formerly poor, nerdy grad student husband who she had the brilliant foresight to see potential in paid for with his seven-figure “sales” job.

We paid back our loans. You can too.

Sure you did, hon, sure. I’m sure you worked 5 jobs and lived with 35 roommates too.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Seems like he's dead set on rolling this back and rolling it bak quickly: https://www.politico.com/news/2024/11/26/trump-rollback-biden-student-debt-relief-00189841

good

She says, from the perch of her overpriced urban farmhouse in N. Arlington that her formerly poor, nerdy grad student husband who she had the brilliant foresight to see potential in paid for with his seven-figure “sales” job.

We paid back our loans. You can too.

If by “we,” you mean your wealthy husband.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I think the thing that needs forgiven in terms of student loans is the interest.

It took me 8-10 years of working after graduation to be in a good financial place to make payments on mine that were more than the minimum monthly payment. I borrowed $27k over 4 years, so relatively low compared to many I know, but when all was said and done, I paid back $46k.

My sister has paid back her original student loan amount of $40k but still owes like $39k because of Interest.

Most people I know aren't averse to paying back what they borrowed. It's the interest that is crippling to them.

Loans have interest. Why is this advanced calculus for people?

We already give tax breaks for student loan interest payments.

There is zero incentive to provide loans unless a lender can obtain interest. Credit markets don't exist without interest. Welcome to adulthood teacups. I'd like a mortgage too with zero interest, lol. You don't borrow $40k and have the mindset that you paid back your fair share when you paid back $40k. In what realm of reality is anyone entitled to borrowing other peoples' money for free? So much delusional entitlement. You already get tax breaks for it anyway.

Apples to oranges. And no one is saying ZERO interest. Everyone with a brain understands that lenders make their profit on the interest. We want reasonable interest rates.

My mortgage interest rate is 3.65%. I took this on at age 32.

Credit card interest rates are high because the credit lines are usually pretty small.

For college, I had a private loan with 12% interest, another with 9%, and the third with 7.5%. Those loans were also my first loans ever in my life. Did I know how loans worked at 17/18? Of course. Did I fully understand how crippling the interest debt would be? No, not at all. My initial monthly loan payment due was around $635 and very little of that went to the Principle. I've now paid off what I borrowed x2 but still owe about what I borrowed. And I didn't borrow an exorbitant amount, either. I basically borrowed the cost of a new car, in the 30,000-40,000 range. How many people do you know who took out a $35k car loan at 18 who are still paying off that car in their late 40s?

Apples to oranges.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I think the thing that needs forgiven in terms of student loans is the interest.

It took me 8-10 years of working after graduation to be in a good financial place to make payments on mine that were more than the minimum monthly payment. I borrowed $27k over 4 years, so relatively low compared to many I know, but when all was said and done, I paid back $46k.

My sister has paid back her original student loan amount of $40k but still owes like $39k because of Interest.

Most people I know aren't averse to paying back what they borrowed. It's the interest that is crippling to them.

And that's what some of Biden's loan forgiveness plans addressed. I wish they had explained it better so people understood that many of these borrowers had paid off their principal years ago, or didn't have their loans forgiven even though they were in the Public Service Loan Forgiveness program.

https://www.nerdwallet.com/article/loans/student-loans/idr-waiver

They did explain it. The GOP is simply better at developing simply slogans that idiots buy.

This is what the Dems need to get better at for the next election cycle. We need snappy, clickbaity type headlines that capture attention, enrage people, and leave an impression. Most GOP voters don't bother to read the articles to sort out the facts anyway. I mean, that's pretty clear from the number of unhappy GOP voters now butthurt to learn that Obamacare and ACA are the samesies.

[Anonymous]

All student loan forgiveness should go individual 's credit report as a bankruptcy.

[Anonymous]

Anonymous wrote:All student loan forgiveness should go individual 's credit report as a bankruptcy.

Then so should all of the PPP loan forgiveness.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I think the thing that needs forgiven in terms of student loans is the interest.

It took me 8-10 years of working after graduation to be in a good financial place to make payments on mine that were more than the minimum monthly payment. I borrowed $27k over 4 years, so relatively low compared to many I know, but when all was said and done, I paid back $46k.

My sister has paid back her original student loan amount of $40k but still owes like $39k because of Interest.

Most people I know aren't averse to paying back what they borrowed. It's the interest that is crippling to them.

Loans have interest. Why is this advanced calculus for people?

We already give tax breaks for student loan interest payments.

There is zero incentive to provide loans unless a lender can obtain interest. Credit markets don't exist without interest. Welcome to adulthood teacups. I'd like a mortgage too with zero interest, lol. You don't borrow $40k and have the mindset that you paid back your fair share when you paid back $40k. In what realm of reality is anyone entitled to borrowing other peoples' money for free? So much delusional entitlement. You already get tax breaks for it anyway.

Apples to oranges. And no one is saying ZERO interest. Everyone with a brain understands that lenders make their profit on the interest. We want reasonable interest rates.

My mortgage interest rate is 3.65%. I took this on at age 32.

Credit card interest rates are high because the credit lines are usually pretty small.

For college, I had a private loan with 12% interest, another with 9%, and the third with 7.5%. Those loans were also my first loans ever in my life. Did I know how loans worked at 17/18? Of course. Did I fully understand how crippling the interest debt would be? No, not at all. My initial monthly loan payment due was around $635 and very little of that went to the Principle. I've now paid off what I borrowed x2 but still owe about what I borrowed. And I didn't borrow an exorbitant amount, either. I basically borrowed the cost of a new car, in the 30,000-40,000 range. How many people do you know who took out a $35k car loan at 18 who are still paying off that car in their late 40s?

Apples to oranges.

Not apples to oranges . Who held the gun to your head to make the stupid financial decision of taking out a 12% interest loan?

Loans are amortized. If you pay only the amount due, expect it to take a long time and expect to pay a ton more than the initial amount borrowed. They literally give you an amortized schedule of payments, so stop blaming being only 18 years old. You agreed to the terms and we made aware that it would take you 20 years of payments on your amortized schedule of all you did was pay the amount due per month.

Grow up already. And welcome to the real world.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I think the thing that needs forgiven in terms of student loans is the interest.

It took me 8-10 years of working after graduation to be in a good financial place to make payments on mine that were more than the minimum monthly payment. I borrowed $27k over 4 years, so relatively low compared to many I know, but when all was said and done, I paid back $46k.

My sister has paid back her original student loan amount of $40k but still owes like $39k because of Interest.

Most people I know aren't averse to paying back what they borrowed. It's the interest that is crippling to them.

One of the few rational responses in this thread of bilge.

I don’t find it rational at all. Why should we forgive her interest and not that for someone’s mortgage or loan for healthcare expenses or a parent’s elder care? It’s all the responsibility of the person who signed the loan. It’s not the taxpayer’s.

Exactly. My cousins had to take out a reverse mortgage on their elderly parent's home to pay for elder care not covered by any insursnce. Why should we forgive student loan interest when other people need to take out loans for healthcare services that are a matter of life and death?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Seems like he's dead set on rolling this back and rolling it bak quickly: https://www.politico.com/news/2024/11/26/trump-rollback-biden-student-debt-relief-00189841

good

She says, from the perch of her overpriced urban farmhouse in N. Arlington that her formerly poor, nerdy grad student husband who she had the brilliant foresight to see potential in paid for with his seven-figure “sales” job.

We paid back our loans. You can too.

Sure, back when college was nowhere near as expensive.

It's damned if you do, damned if you don't situation. Employers want an undergraduate degree for admins these days, so you HAVE to get at least a BA/BS. Kids are graduating with $100K or more in debt thanks to predatory loans.

We're fortunate enough to be able to pay our daughter's tuition without having to get a loan. She's an Education major, so she won't make enough money in her chosen field (at least in the first decade or so) to be able to afford her own apartment or car - THAT's the problem.

[Anonymous]

If we're going to do student loan forgiveness, then every working class kid who didn't get to go to college should get $100K as an equivalent head start in life. Otherwise, no freaking student loan forgiveness for anyone.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Seems like he's dead set on rolling this back and rolling it bak quickly: https://www.politico.com/news/2024/11/26/trump-rollback-biden-student-debt-relief-00189841

good

She says, from the perch of her overpriced urban farmhouse in N. Arlington that her formerly poor, nerdy grad student husband who she had the brilliant foresight to see potential in paid for with his seven-figure “sales” job.

We paid back our loans. You can too.

Sure, back when college was nowhere near as expensive.

It's damned if you do, damned if you don't situation. Employers want an undergraduate degree for admins these days, so you HAVE to get at least a BA/BS. Kids are graduating with $100K or more in debt thanks to predatory loans.

We're fortunate enough to be able to pay our daughter's tuition without having to get a loan. She's an Education major, so she won't make enough money in her chosen field (at least in the first decade or so) to be able to afford her own apartment or car - THAT's the problem.

Stop making excuses for the govt. rewarding people making $hitty financial decisions.

[Anonymous]

Anonymous wrote:Seems like he's dead set on rolling this back and rolling it bak quickly: https://www.politico.com/news/2024/11/26/trump-rollback-biden-student-debt-relief-00189841

Please. And claw back all the free money. We paid back our loans in advance and we are not UMC but live in NOVA. Don't take out loans if you can't afford them.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Seems like he's dead set on rolling this back and rolling it bak quickly: https://www.politico.com/news/2024/11/26/trump-rollback-biden-student-debt-relief-00189841

good

She says, from the perch of her overpriced urban farmhouse in N. Arlington that her formerly poor, nerdy grad student husband who she had the brilliant foresight to see potential in paid for with his seven-figure “sales” job.

We paid back our loans. You can too.

If by “we,” you mean your wealthy husband.

It’s hilarious you think you know people off the internet. No.