Student Loans Forgiven!

[Anonymous]

Anonymous wrote:This feels very weird as a Gen X who paid off all of my loans (and it took many years) who is about to start paying for my Gen Z to go to college where all EFC calulators have us paying for everything without assistance.

Your tuition, rent, and other expenses were far cheaper. One notable difference is the GenX $0.05 drafts became $1 drafts for millennials.

[Anonymous]

Not sure why anyone is envious of OP, who paid $150k in loan payments over 20 years. If I am able to prevent my children from having to do that, I will.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:No issues with Public Service Loan Forgiveness for certain professions. We are bleeding nurses and teachers. Should also include covering any education costs for training frontline workers like police, fire fighters, etc.

You don't get to decide who is eligible for forgiveness. I don't like all the deductions in our tax code but I don't waste energy saying people who take them are behaving unethically. This reeks of rules for thee but not for me.

-1 This isn't part of the tax code that anyone can see and factor into their decisions. Biden's student loan forgiveness is changing the rules years after the game is over. People might have made different decisions if they knew their loans would one day be forgiven.

Plus our policies are supposed to incentivize the behavior that's best for society. For example, home buying credits for teachers and law enforcement because society needs more people in these fields. The taxpayers paying off OP's student loans isn't some huge benefit for society.

-1 Biden didn't create IBR forgiveness but he is finally implementing it the way it was intended.

Educate yourself. https://www.gao.gov/products/gao-22-103720

Biden fought to implement this. He's clearly to blame.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:No issues with Public Service Loan Forgiveness for certain professions. We are bleeding nurses and teachers. Should also include covering any education costs for training frontline workers like police, fire fighters, etc.

You don't get to decide who is eligible for forgiveness. I don't like all the deductions in our tax code but I don't waste energy saying people who take them are behaving unethically. This reeks of rules for thee but not for me.

-1 This isn't part of the tax code that anyone can see and factor into their decisions. Biden's student loan forgiveness is changing the rules years after the game is over. People might have made different decisions if they knew their loans would one day be forgiven.

Plus our policies are supposed to incentivize the behavior that's best for society. For example, home buying credits for teachers and law enforcement because society needs more people in these fields. The taxpayers paying off OP's student loans isn't some huge benefit for society.

-1 Biden didn't create IBR forgiveness but he is finally implementing it the way it was intended.

Educate yourself. https://www.gao.gov/products/gao-22-103720

Biden fought to implement this. He's clearly to blame.

To blame for implementing forgiveness that borrowers have been expecting for decades? That's a good thing.

[Anonymous]

Ugh. Millennials are SO entitled. I worked hard to pay off my $150,000 in loans and buy my million dollar house this year but you get a free pass?

[Anonymous]

Anonymous wrote:Ugh. Millennials are SO entitled. I worked hard to pay off my $150,000 in loans and buy my million dollar house this year but you get a free pass?

There was nothing free about those loans - they paid for 20 years. If you want to be angry, be angry at the people who rack up tons of credit card debt and then just declare bankruptcy to get rid of it. That is an option for all other kinds of debt except student loan debt.

[Anonymous]

Anonymous wrote:I'm listed on Mohela as 3 payments beyond the 120 required for Public Service Loan Forgiveness, but just waiting for it to finally come through. Buying a house soon and it would be nice to have it forgiven for when we officially do the mortgage application.

As long as you know you have to officially apply for it.

You’ll get reimbursed for payments in excess of 120 (I believe).

[Anonymous]

What kind of person is pleased to have their student loans forgiven? Hard working students do well in high school, receive scholarships for college, and take minimal loans in the first place. Anyone taking out substantial student loan debt is just lazy and stupid. Then, to not even pay them off in a timely fashion further reinforces a narrative of greed and incompetence.

No thanks, OP, I prefer to take the moral high ground.

[Anonymous]

The hypocrisy in the thread is golden. Do you whiny people care when:

Many of you get and/or advocate for huge interest and tax deductions on your multimillion dollar mcmansions while low income people don't?
Trump and other businesses get huge write offs and don't pay taxes?
You front load your 529s for tax free growth while lower income Americans struggle to save and pay for college And on and on and on...

The system is rigged to help the rich get richer and yet you're complaining about people who paid 20+ years of loans and in many/most cases took jobs in lower paying careers/public service? The greed of DCUM is so evident.

Congrats OP!!! I am very happy for you. Hope you pay it forward.

[Anonymous]

Anonymous wrote:The hypocrisy in the thread is golden. Do you whiny people care when:

Many of you get and/or advocate for huge interest and tax deductions on your multimillion dollar mcmansions while low income people don't?
Trump and other businesses get huge write offs and don't pay taxes?
You front load your 529s for tax free growth while lower income Americans struggle to save and pay for college And on and on and on...

The system is rigged to help the rich get richer and yet you're complaining about people who paid 20+ years of loans and in many/most cases took jobs in lower paying careers/public service? The greed of DCUM is so evident.

Congrats OP!!! I am very happy for you. Hope you pay it forward.

When theft and robbery are legal, nothing else liberals do will surprise me. You think this is gonna encourage people to better support each other? Let’s all race to the moral bottom and max our effort to abuse the system. I won’t feel guilty to do that anymore.

[Anonymous]

Anonymous wrote:The hypocrisy in the thread is golden. Do you whiny people care when:

Many of you get and/or advocate for huge interest and tax deductions on your multimillion dollar mcmansions while low income people don't?
Trump and other businesses get huge write offs and don't pay taxes?
You front load your 529s for tax free growth while lower income Americans struggle to save and pay for college And on and on and on...

The system is rigged to help the rich get richer and yet you're complaining about people who paid 20+ years of loans and in many/most cases took jobs in lower paying careers/public service? The greed of DCUM is so evident.

Congrats OP!!! I am very happy for you. Hope you pay it forward.

+1 this

[Anonymous]

Congrats, OP!

I was in the Public Service Loan Forgiveness and had about $150k forgiven after ten years of payments . . .in 2020 under the Trump administration right around the time of the presidential election.

It was nice to have that heavy weight lifted off, so nice that I voted for Trump. SIKE!

[Anonymous]

My sister had 210k forgiven. A friend had 223k forgiven. Another is about to have 200k forgiven. I recently had 163k forgiven. Thank you America! I just need to be an illegal or maybe Ukrainian and I’d be set!

[Anonymous]

Anonymous wrote:My sister had 210k forgiven. A friend had 223k forgiven. Another is about to have 200k forgiven. I recently had 163k forgiven. Thank you America! I just need to be an illegal or maybe Ukrainian and I’d be set!

why are you mad if you loans were forgiven ?

[Anonymous]

What % of Americans started making payments doing the On ramp period?