What is going on with student loans?

[Anonymous]

looks like the plan is to give people "struggling" to pay what they "agreed" to pay 1 year to make a payment plan and get them out of default status.

this whole thing is hillarious, instead of fixing the problem of high tuition rates they just want to put a bandage over it. so what are they doing about all time high education costs? nothing. are they doing anything about the APR on these loans? nothing.

this whole thing is backwards. how can teacher salaries stay the same but there is a increase in tuition every single year? what is really driving the costs? plz wake up people, push to solve the problem.

[Anonymous]

Anonymous wrote:looks like the plan is to give people "struggling" to pay what they "agreed" to pay 1 year to make a payment plan and get them out of default status.

this whole thing is hillarious, instead of fixing the problem of high tuition rates they just want to put a bandage over it. so what are they doing about all time high education costs? nothing. are they doing anything about the APR on these loans? nothing.

this whole thing is backwards. how can teacher salaries stay the same but there is a increase in tuition every single year? what is really driving the costs? plz wake up people, push to solve the problem.

Democrats aren’t interested in solving the problem, they just want the optics of a meaningless forgiveness. Meanwhile every year thousands more misguided 18 year olds will fall into the same trap. It’s utterly ridiculous and transparently pandering for votes.

[Anonymous]

Anonymous wrote:looks like the plan is to give people "struggling" to pay what they "agreed" to pay 1 year to make a payment plan and get them out of default status.

this whole thing is hillarious, instead of fixing the problem of high tuition rates they just want to put a bandage over it. so what are they doing about all time high education costs? nothing. are they doing anything about the APR on these loans? nothing.

this whole thing is backwards. how can teacher salaries stay the same but there is a increase in tuition every single year? what is really driving the costs? plz wake up people, push to solve the problem.

How can the government regulate the cost of private and state colleges? The way they made college “more affordable” was to subsidize loans, which correlates to higher tuition. As GenZ is a small generation and many are not going to college, colleges may reduce the cost to attract more students.

[Anonymous]

This is so freaking sad. All the compiling interest on these fed loans should be wiped at the very least. This is disgusting and predatory on low and middle class born kids.

[Anonymous]

Anonymous wrote:This is so freaking sad. All the compiling interest on these fed loans should be wiped at the very least. This is disgusting and predatory on low and middle class born kids.

How is predatory? All these people ignored the interest rate they were borrowing at when they took out the loans?

[Anonymous]

Anonymous wrote:

Anonymous wrote:This is so freaking sad. All the compiling interest on these fed loans should be wiped at the very least. This is disgusting and predatory on low and middle class born kids.

How is predatory? All these people ignored the interest rate they were borrowing at when they took out the loans?

Since you can't discharge student loans in bankruptcy, these loans are pretty darn safe. They should charge minimal interest.

[Anonymous]

The overhaul happened back in 2009-2010 time frame (https://www.nytimes.com/2010/03/26/us/politics/26loans.html) under cough cough dems where they created this BS system and interest rates became federally mandated. The interest rate is the biggest issue!!!

[Anonymous]

Anonymous wrote:The overhaul happened back in 2009-2010 time frame (https://www.nytimes.com/2010/03/26/us/politics/26loans.html) under cough cough dems where they created this BS system and interest rates became federally mandated. The interest rate is the biggest issue!!!

Yep. I have said it before.... Thank Obama for this situation.

Biden is not going to cancel anyone's debt. And, I doubt that he will extend the pause on payments.

Why, you ask?

Because, the CRFB has determined that doing either will worsen inflation. And, we can't have that after he just signed a bill erroneously named "Inflation Reduction Act" to fool the voters.

[Anonymous]

Anonymous wrote:

Anonymous wrote:This is so freaking sad. All the compiling interest on these fed loans should be wiped at the very least. This is disgusting and predatory on low and middle class born kids.

How is predatory? All these people ignored the interest rate they were borrowing at when they took out the loans?

Debt servitude, debt bondage. Media, school leaders, family, society, and economic pressure forces teens to essentially sign for a mortgage after they just got done half-a** reading Huckleberry Finn. The avg American 12th grader is years below grade level, that makes it predatory. The system makes low and middle class teens debt slaves, so UMC and rich peers can soar past them. It's a predatory con fueling unprecedented levels of inequality.

To be clear, I am largely speaking on undergraduate debt. I personally have little sympathy for 20-something, grown a**, college-credentialed adults who sign for $50k-$300k+ in graduate and professional school loans. The only courtesy I would give grad and prof school fed loans is removing the interest.

[Anonymous]

Anonymous wrote:This is so freaking sad. All the compiling interest on these fed loans should be wiped at the very least. This is disgusting and predatory on low and middle class born kids.

You sound compassionate. Have you reached out and offered to payoff his loan?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:This is so freaking sad. All the compiling interest on these fed loans should be wiped at the very least. This is disgusting and predatory on low and middle class born kids.

How is predatory? All these people ignored the interest rate they were borrowing at when they took out the loans?

Debt servitude, debt bondage. Media, school leaders, family, society, and economic pressure forces teens to essentially sign for a mortgage after they just got done half-a** reading Huckleberry Finn. The avg American 12th grader is years below grade level, that makes it predatory. The system makes low and middle class teens debt slaves, so UMC and rich peers can soar past them. It's a predatory con fueling unprecedented levels of inequality.

To be clear, I am largely speaking on undergraduate debt. I personally have little sympathy for 20-something, grown a**, college-credentialed adults who sign for $50k-$300k+ in graduate and professional school loans. The only courtesy I would give grad and prof school fed loans is removing the interest.

BS. Only a third of Americans graduate college and they’re far more privileged than the other two thirds who entered the trades, joined the military or pursued some other profession. Nobody forced these people to take loans and they have nobody to blame but themselves. If I hear another millennial whining about not getting their preferred job because they decided to manor in gender studies from some third tier school my head will explode. Don’t paint these people as victims because they have agency and orchestrated their own disaster. Plus the majority of student loan debt is low interest….nothing like usurious credit card debt that uncle Joe has been supporting his entire career.

[Anonymous]

Half the people with fed loans never graduated…

[Anonymous]

[Anonymous]

My family member who attended ITT tech just got all his loans forgiven! Woo hoo!

[Anonymous]

Anonymous wrote:

Someone else reported on Reddit today that their account is showing an administrative forebearance from Sept 1 to February 17, 2023 applied to their account. They didn’t request it.

My guess is that it’s a front run of an announcement tomorrow that payment pause and waiver will both be extended into the New Year.

https://www.reddit.com/r/PSLF/comments/wrtvsz/administrative_forbearance_effective_9122_that_i/?utm_source=share&utm_medium=ios_app&utm_name=iossmf