Student loan forgiveness

[Anonymous]

To the responsible adult poster - you missed the point. We can pay for college without loans. Question was about whether it seemed that doing so meant that we would forego loan forgiveness of $54K or more — which might make taking the loans more attractive. Just curious what people are thinking. We won’t be taking loans as (a) I feel it’s not right when we can pay and (b) loan forgiveness seems unlikely or at best likely to be complicated.

[Anonymous]

Anonymous wrote:

Anonymous wrote:OP here. Yes the question is whether we are silly paying tuition if all student loans will be forgiven in the near future. As to the PP, it is possible to borrow $50K per year for student loans for undergrad per google search ... so I don’t know what the $27K limit is. (Agree that if this is an issue of saving $27K, not worth it - though still for 2 kids that is more than $50K (and like $80K needed to earn $50K net) - not a minuscule amount).

How about acting like a responsible adult and only buying things you can actually afford? You’re one of those imbeciles that’s too stupid to know she should be embarrassed to ask these idiotic questions.....even on this odious anonymous sh*tboard.

Inelegantly put, but accurate.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OP here. Yes the question is whether we are silly paying tuition if all student loans will be forgiven in the near future. As to the PP, it is possible to borrow $50K per year for student loans for undergrad per google search ... so I don’t know what the $27K limit is. (Agree that if this is an issue of saving $27K, not worth it - though still for 2 kids that is more than $50K (and like $80K needed to earn $50K net) - not a minuscule amount).

The maximum guaranteed student loan limits are $5500 freshman year, $6500 sophomore year, and $7500 for junior and senior year. Dependent kids whose parents don't qualify for parent plus loans due to insufficient income can borrow up to $57k for undergrad. But it does not sound like you are too poor to obtain parent plus loans so $27k is all your kid can borrow under government sponsored loan programs for undergrad studies.

See https://studentloanhero.com/featured/maximum-student-loan-amount-limit-federal-student-aid/

As I said, private loans are not in the conversation for loan forgiveness. So you are debating an issue that applies at most to $27k per kid. Not worth even thinking about.

You are wrong. The plans would allow private loans to be refinanced into government loans and then be eligible for the forgiveness. Sanders plan would allow for 100% qualification. Warrens plan caps at $50k with an income phaseout.

The fact that Sanders and Warren even have such plans is a good example of why I would never consider voting for them.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OP here. Yes the question is whether we are silly paying tuition if all student loans will be forgiven in the near future. As to the PP, it is possible to borrow $50K per year for student loans for undergrad per google search ... so I don’t know what the $27K limit is. (Agree that if this is an issue of saving $27K, not worth it - though still for 2 kids that is more than $50K (and like $80K needed to earn $50K net) - not a minuscule amount).

How about acting like a responsible adult and only buying things you can actually afford? You’re one of those imbeciles that’s too stupid to know she should be embarrassed to ask these idiotic questions.....even on this odious anonymous sh*tboard.

Inelegantly put, but accurate.

I disagree.

If I’ve got enough money saved for my kids education wherever they choose to go and have an option of simply taking out a loan that might get written off by the federal government, why wouldn’t I do it? Worst case scenario- it doesn’t get written off and I have to pay. Best case scenario- free college.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OP here. Yes the question is whether we are silly paying tuition if all student loans will be forgiven in the near future. As to the PP, it is possible to borrow $50K per year for student loans for undergrad per google search ... so I don’t know what the $27K limit is. (Agree that if this is an issue of saving $27K, not worth it - though still for 2 kids that is more than $50K (and like $80K needed to earn $50K net) - not a minuscule amount).

How about acting like a responsible adult and only buying things you can actually afford? You’re one of those imbeciles that’s too stupid to know she should be embarrassed to ask these idiotic questions.....even on this odious anonymous sh*tboard.

Inelegantly put, but accurate.

I disagree.

If I’ve got enough money saved for my kids education wherever they choose to go and have an option of simply taking out a loan that might get written off by the federal government, why wouldn’t I do it? Worst case scenario- it doesn’t get written off and I have to pay. Best case scenario- free college.

I’d have to agree with you. There’s a difference between taking out the loans planning on having them forgiven, and then being up sh!ts creek when they aren’t and you can’t pay, and taking advantage of a program if you can, even though you don’t need to.

[Anonymous]

Don't you have to pay on those loans for 10 Years before loan forgiveness kicks in?

[Anonymous]

Anonymous wrote:Don't you have to pay on those loans for 10 Years before loan forgiveness kicks in?

Yes but you can just pay the minimum. For me, that wasn’t much.

[Anonymous]

Anonymous wrote:To the responsible adult poster - you missed the point. We can pay for college without loans. Question was about whether it seemed that doing so meant that we would forego loan forgiveness of $54K or more — which might make taking the loans more attractive. Just curious what people are thinking. We won’t be taking loans as (a) I feel it’s not right when we can pay and (b) loan forgiveness seems unlikely or at best likely to be complicated.

Why would you even think this? Do you also cheat on your taxes and tell yourself it is just loopholes? Be a good citizen and stop acting like a rich person who games the system and then scapegoats poor people.

[Anonymous]

I am not following this loan forgiveness issue. Why would people have their loans forgiven? Tell me like I’m a 4 yr old.

[Anonymous]

Anonymous wrote:I am not following this loan forgiveness issue. Why would people have their loans forgiven? Tell me like I’m a 4 yr old.

Because Sanders and Warren are pandering to millennials for the votes (at the expense of those who pay significant taxes).

[Anonymous]

The only people I knew who had their loans forgiven are people who work in low income schools. Why would they forgive loans? You signed on the dotted line so pay up.

[Anonymous]

I thought government employees were able to get loan forgiveness? If not, who exactly is eligible for loan forgiveness?

[Anonymous]

Anonymous wrote:

Anonymous wrote:To the responsible adult poster - you missed the point. We can pay for college without loans. Question was about whether it seemed that doing so meant that we would forego loan forgiveness of $54K or more — which might make taking the loans more attractive. Just curious what people are thinking. We won’t be taking loans as (a) I feel it’s not right when we can pay and (b) loan forgiveness seems unlikely or at best likely to be complicated.

Why would you even think this? Do you also cheat on your taxes and tell yourself it is just loopholes? Be a good citizen and stop acting like a rich person who games the system and then scapegoats poor people.

But it's not cheating. This is exactly how these programs are to be set up -- as massive subsidies to the upper middle class/rich.

[Anonymous]

Dh and I seriously busted our butts to pay off his student loans last year. I mean we lived in a den of a house (No closet) and shared a bathroom even after marriage. We delayed kids and drove ancient cars (dhs was a 1999 that we sold 2 years ago). So many people could have done this but preferred to pay them off over a larger time period. Their choice. It would really hurt to know that we pinched pennies and could have had them all repaid in full. We’re not high income but paid off 80k in 4 years.

[Anonymous]

Anonymous wrote:I thought government employees were able to get loan forgiveness? If not, who exactly is eligible for loan forgiveness?

If by government employees, you mean feds- no.