What is going on with student loans?

[Anonymous]

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Anonymous wrote:I think the Republicans are scared sh#tless that once Biden enacts even $10K forgiveness his approval rating will shoot up to over 50%. I honestly think it’s going to happen and will be wildly popular with 60% of the country.

Yes! I will be so grateful! Even 10k will help me tremendously. Probably more than the millions given to corporations

Bless your heart. If I pay your $10,000 loan, will you pay $10,000 towards your classmates loan?

No. I already paid for the many benefits you received for the children you chose to have.

[NP]

+100! I don't understand why people can't see that we all benefit (or don't) in ways that do not apply to all. I do not have children and yet my taxes go toward schools and I have never benefitted from child tax credits or the extra money given to parents these past few years. So I'll gratefully accept a 10K benefit that will make a huge difference in my life and allow me to invest in the economy by buying a newer and more reliable car.

If you do not understand how I, as a teacher, will jump for joy to have 10k in loan forgivenenss, then I can't explain to you. I am thrilled, however, that your financial circumstances are such that being able to "upgrade" to a better used car is something you will know.

Sorry but how is 10k in forgiveness going to make a huge difference for you? Even under the most aggressive 10 year repayment plan that represents a payment of about 115 dollars a month. That is not a huge difference for anyone, even someone making 40k or less. The average new car in this country costs well over 40k and the minimum is about 15k for the Chevy Spark.

If you do not understand how I, as a teacher, will jump for joy to have 10k in loan forgiveness, then I can't explain it to you. I am thrilled, however, that your financial circumstances are such that being able to "upgrade" to a better used car is something you will know.

I've had the same car my entire adult life... 25 years... so whatever. I'm sure you'll jump for joy. But you spoke about a "huge difference" in your life that this 10K forgiveness will provide.

A very young teacher in Fairfax County is going to be making around 60K a year, so saving $100 a month is not a "huge difference." Please do the math for me to show me otherwise. It represents about 2% of monthly income.

I am not in FCPS and I am making less than 60K/year. If you don't think having an extra $200 makes a difference in someone's life than I am so happy for you and your good fortune.

But whatever. Don't care about someone who might benefit in this significant way (for me) and I certainly won't give you another thought. I will appreciate the student loan forgiveness and continue doing good work in the world. It's all good. Meanwhile the corporations who got massive amounts of PPP loans will hopefully do the same...

$200? What is your interest rate? At 6.8%, the payment over 10 years is $115. But you can extend that out and cut the payment significantly.

[Anonymous]

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Anonymous wrote:My offer still stands. I’ll pay $10,000 of your student loan. But, first you pay $10,000 of your classmate’s loan.

If you want someone else to pay your debt, surely you are willing to do the same for another American.

Why would I do that when the wealthy people whose businesses can't run without educated people working them can pay to forgive people's loans. They get the most money from the economy which can only exist because the government provides infrastructure and education so yes, some.of their profits should pay for that.

Guarantee this poster has a useless degree. The ignorance is on display.

My employer doesn't think my degree is useless, but you are entitled to your ignorant opinion.

70% of federal income tax revenue comes from taxpayers with incomes above $150k. 60% of federal income tax revenue comes from taxpayers with incomes above $220k. Yes, the wealthy in this country can afford to provide debt relief to the people they are profiting off of. Most people with student loan debt are not wealthy. If they were, they wouldn't have needed the loans in the first place.

If you are truly desperate for money to repay your loans, you should get a second job. Or find an employer willing to pay off your loans if you have such a valuable degree. No one on DCUM is going to give you money.

Speak for yourself, taxpayers are paying my loans off in a few months

What program?

[Anonymous]

Anonymous wrote:It's hilarious that the people against forgiveness insist that student loan borrowers are both too rich to deserve forgiveness but also too poor to make payments and therefore need to get second jobs.

No, people feel that you should repay your loan.

Do you also plan to have taxpayers pay off your mortgage, car loan, credit cards?

Where does it stop?

[Anonymous]

Anonymous wrote:

Anonymous wrote:It's hilarious that the people against forgiveness insist that student loan borrowers are both too rich to deserve forgiveness but also too poor to make payments and therefore need to get second jobs.

No, people feel that you should repay your loan.

Do you also plan to have taxpayers pay off your mortgage, car loan, credit cards?

Where does it stop?

It's pretty sad when you start resorting to slippery slope arguments.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:My offer still stands. I’ll pay $10,000 of your student loan. But, first you pay $10,000 of your classmate’s loan.

If you want someone else to pay your debt, surely you are willing to do the same for another American.

Why would I do that when the wealthy people whose businesses can't run without educated people working them can pay to forgive people's loans. They get the most money from the economy which can only exist because the government provides infrastructure and education so yes, some.of their profits should pay for that.

Guarantee this poster has a useless degree. The ignorance is on display.

My employer doesn't think my degree is useless, but you are entitled to your ignorant opinion.

70% of federal income tax revenue comes from taxpayers with incomes above $150k. 60% of federal income tax revenue comes from taxpayers with incomes above $220k. Yes, the wealthy in this country can afford to provide debt relief to the people they are profiting off of. Most people with student loan debt are not wealthy. If they were, they wouldn't have needed the loans in the first place.

If you are truly desperate for money to repay your loans, you should get a second job. Or find an employer willing to pay off your loans if you have such a valuable degree. No one on DCUM is going to give you money.

Speak for yourself, taxpayers are paying my loans off in a few months

What program?

PSLF

[Anonymous]

Anonymous wrote:

Anonymous wrote:It's hilarious that the people against forgiveness insist that student loan borrowers are both too rich to deserve forgiveness but also too poor to make payments and therefore need to get second jobs.

No, people feel that you should repay your loan.

Do you also plan to have taxpayers pay off your mortgage, car loan, credit cards?

Where does it stop?

It stops where the loan is bankrupt-able.

Student loans are not bankrupt-able, so you have 50 year olds paying off student loans with predatory interest.

Mortgage, car, credit card loans are all bankrupt-able.

[Anonymous]

Btw I made $40k 10 years ago in my first job out of school. Yes $100 per month is a lot. You have to understand when you make that much, you don't have a lot of extra money after rent, utilities, car payment, retirement savings. And that's assuming no kids and no daycare costs. You all sound really out of touch.

[Anonymous]

Anonymous wrote:Btw I made $40k 10 years ago in my first job out of school. Yes $100 per month is a lot. You have to understand when you make that much, you don't have a lot of extra money after rent, utilities, car payment, retirement savings. And that's assuming no kids and no daycare costs. You all sound really out of touch.

Nobody's out of touch.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:My offer still stands. I’ll pay $10,000 of your student loan. But, first you pay $10,000 of your classmate’s loan.

If you want someone else to pay your debt, surely you are willing to do the same for another American.

Why would I do that when the wealthy people whose businesses can't run without educated people working them can pay to forgive people's loans. They get the most money from the economy which can only exist because the government provides infrastructure and education so yes, some.of their profits should pay for that.

Guarantee this poster has a useless degree. The ignorance is on display.

My employer doesn't think my degree is useless, but you are entitled to your ignorant opinion.

70% of federal income tax revenue comes from taxpayers with incomes above $150k. 60% of federal income tax revenue comes from taxpayers with incomes above $220k. Yes, the wealthy in this country can afford to provide debt relief to the people they are profiting off of. Most people with student loan debt are not wealthy. If they were, they wouldn't have needed the loans in the first place.

If you are truly desperate for money to repay your loans, you should get a second job. Or find an employer willing to pay off your loans if you have such a valuable degree. No one on DCUM is going to give you money.

Speak for yourself, taxpayers are paying my loans off in a few months

What program?

PSLF

That’s great.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:It's hilarious that the people against forgiveness insist that student loan borrowers are both too rich to deserve forgiveness but also too poor to make payments and therefore need to get second jobs.

No, people feel that you should repay your loan.

Do you also plan to have taxpayers pay off your mortgage, car loan, credit cards?

Where does it stop?

It stops where the loan is bankrupt-able.

Student loans are not bankrupt-able, so you have 50 year olds paying off student loans with predatory interest.

Mortgage, car, credit card loans are all bankrupt-able.

“Bankrupt-able”

Tells you everything you need to know.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:It's hilarious that the people against forgiveness insist that student loan borrowers are both too rich to deserve forgiveness but also too poor to make payments and therefore need to get second jobs.

No, people feel that you should repay your loan.

Do you also plan to have taxpayers pay off your mortgage, car loan, credit cards?

Where does it stop?

It stops where the loan is bankrupt-able.

Student loans are not bankrupt-able, so you have 50 year olds paying off student loans with predatory interest.

Mortgage, car, credit card loans are all bankrupt-able.

“Bankrupt-able”

Tells you everything you need to know.

+1000 Explains everything.

[Anonymous]

Anonymous wrote:What is going on with student loans?

Nothing. Payment resumes in two weeks.

[Anonymous]

Anonymous wrote:

Anonymous wrote:What is going on with student loans?

Nothing. Payment resumes in two weeks.

Not gonna happen. It will be extended.

The Dept of Ed is in the process of transferring servicers from FedLoan to MOHELA. For example, I received a letter from FedLoan today that I will be transferred to MOHELA on August 30. It's taking MOHELA 4-6 weeks to get loans to show up in their systems and for borrowers to create their MOHELA accounts/login info.

There is no way I will be able to make a student loan payment by September 30 (the date when the first payment is due after the pause).

Biden will extend the pause until 1Q2023 and blame it on the servicer switch.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:What is going on with student loans?

Nothing. Payment resumes in two weeks.

Not gonna happen. It will be extended.

The Dept of Ed is in the process of transferring servicers from FedLoan to MOHELA. For example, I received a letter from FedLoan today that I will be transferred to MOHELA on August 30. It's taking MOHELA 4-6 weeks to get loans to show up in their systems and for borrowers to create their MOHELA accounts/login info.

There is no way I will be able to make a student loan payment by September 30 (the date when the first payment is due after the pause).

Biden will extend the pause until 1Q2023 and blame it on the servicer switch.

I think you're right that the pause will be extended but what you're saying isn't how these loan servicers work. If payments resume while transferring your loan you're much more likely to login and find your account in default or a billing notice for $4k/month

[Anonymous]

When did Americans become deadbeats always looking for a handout?