Will the $10-20K student debt relief happen? Not interested in whether you think it should.

[Anonymous]

It will just be paused indefinitely

[Anonymous]

Anonymous wrote:Now that the election is over, they will probably drop it.

Which election? Biden was elected a while ago.

[Anonymous]

Anonymous wrote:It will just be paused indefinitely

This. Neither political party will have the political capital to reinstate student loan repayments when it risks angering millions of Millennials, GenZ, and MC boomers/GenX that took out parent plus loans for their kids. Offering $10k forgiveness is a win for democrats as it would actually help a lot of poor student loan borrowers but R's frame it as only benefitting doctors/lawyers (in fact, $10k is worthless for anyone with 6 figures in debt and most would likely not bother to even apply unless on 10 year standard repayment). This election cycle the R's self destructed with Roe and next up they will bungle student loans.

[Anonymous]

Anonymous wrote:

Anonymous wrote:It will just be paused indefinitely

This. Neither political party will have the political capital to reinstate student loan repayments when it risks angering millions of Millennials, GenZ, and MC boomers/GenX that took out parent plus loans for their kids. Offering $10k forgiveness is a win for democrats as it would actually help a lot of poor student loan borrowers but R's frame it as only benefitting doctors/lawyers (in fact, $10k is worthless for anyone with 6 figures in debt and most would likely not bother to even apply unless on 10 year standard repayment). This election cycle the R's self destructed with Roe and next up they will bungle student loans.

Most doctors and lawyers won't qualify. Maybe someone in residency (who isn't married or is married to someone with a similar salary), but that's it. For high income professions with MBAs/JDs/MDs it's only benefitting the individuals who got out of school a few years ago and were early enough in their careers in 2020 and 2021 that they were making under $120K. If it were retroactive it would be one thing but the way it's being implemented there really aren't any high earners who are benefitting.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:It will just be paused indefinitely

This. Neither political party will have the political capital to reinstate student loan repayments when it risks angering millions of Millennials, GenZ, and MC boomers/GenX that took out parent plus loans for their kids. Offering $10k forgiveness is a win for democrats as it would actually help a lot of poor student loan borrowers but R's frame it as only benefitting doctors/lawyers (in fact, $10k is worthless for anyone with 6 figures in debt and most would likely not bother to even apply unless on 10 year standard repayment). This election cycle the R's self destructed with Roe and next up they will bungle student loans.

Most doctors and lawyers won't qualify. Maybe someone in residency (who isn't married or is married to someone with a similar salary), but that's it. For high income professions with MBAs/JDs/MDs it's only benefitting the individuals who got out of school a few years ago and were early enough in their careers in 2020 and 2021 that they were making under $120K. If it were retroactive it would be one thing but the way it's being implemented there really aren't any high earners who are benefitting.

This. But I agree with pp that payments will just be postponed indefinitely. I don't think Biden has the political will to reinstate them (nothing like kicking off a reelection bid by admitting you can't fulfill a campaign promise and sending out bills for the first time in years). Maybe the next guy, but buy then it will by 5+ years without payments and will result in even more of a backlash. I think we've backed into an entitlement in a way that no one really foresaw or wanted.

[Anonymous]

If it’s paused indefinitely then it still benefits people who are going for PSLF and aren’t there yet.

[Anonymous]

Anonymous wrote:If it’s paused indefinitely then it still benefits people who are going for PSLF and aren’t there yet.

Anyone on income based repayment also has their $0 payments count towards forgiveness in 15 or 20 years. So an indefinite pause would eventually result in total loan forgiveness.

[Anonymous]

Anonymous wrote:If it’s paused indefinitely then it still benefits people who are going for PSLF and aren’t there yet.

It has nothing to do with PSLF, a statutory right that is enumerated in the MPN every student loan borrower signs. Two totally separate programs.

[Anonymous]

Hell No

[Anonymous]

Two federal courts have denied it. The first said Biden didn’t have the authority under the constitution to do it, and the second said they would not stay repayment until it went thru the courts as it was unconstitutional to begin with. Biden has extended it until the Supreme Court weighs in, but given the majority are heavily constitutionalists, I can’t see them granting it.

[Anonymous]

Yes it will happen. I believe in the goodness of Joe.

[Anonymous]

No. Biden knew it wouldn’t happen, the Dem party just told him to say he’d do it to buy votes. And people believed that his online sign-up sheet meant that their loans would be forgiven. It’s political deception at its best (or worst).

[Anonymous]

Anonymous wrote:

Anonymous wrote:If it’s paused indefinitely then it still benefits people who are going for PSLF and aren’t there yet.

It has nothing to do with PSLF, a statutory right that is enumerated in the MPN every student loan borrower signs. Two totally separate programs.

Nevertheless a pause on payment side direct loans means PSLF borrowers will not have to pay either so a higher balance will be forgiven vs paid by the borrower.

[Anonymous]

Anonymous wrote:No. Biden knew it wouldn’t happen, the Dem party just told him to say he’d do it to buy votes. And people believed that his online sign-up sheet meant that their loans would be forgiven. It’s political deception at its best (or worst).

yeah, looks like they played gullible folks.

[Anonymous]

If loan forgiveness is struck down, will PSLF $0 payments still count towards the 120 payments during the loan moratorium? I'm on a ten year plan and would not have qualified for PSLF because I would have paid off loans in 120 payments anyways. However now, maybe?