Trump will rollback student loan forgiveness

[Anonymous]

As usual, most of you didn’t bother to read the article.

Nothing in it is crazy. It sounds like SAVE will not be defended (expected), borrowers will go back into older, less generous plans (expected), and this will all be a mess that will takes months to sort out (expected). No one is getting forgiveness revoked. And no discussion of destroying PSLF or the older repayment plans for existing borrowers.

[Anonymous]

Anonymous wrote:I think the thing that needs forgiven in terms of student loans is the interest.

It took me 8-10 years of working after graduation to be in a good financial place to make payments on mine that were more than the minimum monthly payment. I borrowed $27k over 4 years, so relatively low compared to many I know, but when all was said and done, I paid back $46k.

My sister has paid back her original student loan amount of $40k but still owes like $39k because of Interest.

Most people I know aren't averse to paying back what they borrowed. It's the interest that is crippling to them.

Loans have interest. Why is this advanced calculus for people?

We already give tax breaks for student loan interest payments.

There is zero incentive to provide loans unless a lender can obtain interest. Credit markets don't exist without interest. Welcome to adulthood teacups. I'd like a mortgage too with zero interest, lol. You don't borrow $40k and have the mindset that you paid back your fair share when you paid back $40k. In what realm of reality is anyone entitled to borrowing other peoples' money for free? So much delusional entitlement. You already get tax breaks for it anyway.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I love how these MAGA hypocrites cried to the MAGA courts about Biden overstepping his authority by using executive order to forgive student loans, but they are cool with Drumpf using executive orders to fire the federal workforce.

The president is the Head of the Executive Branch. The federal workforce serves at the pleasure of the president. Get used to it and learn how the government works.

So all the laws that congress passed about federal workers don’t actually matter.

If they violate the Constitution or claim authority above the Constitution, they don't. No statute overrides the Constitution, no matter how much you want it.

Which statute relating to federal employees violates the constitution?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Gotta try to pay for the tax cuts for corporations and rich people.

What problem does student loan forgiveness solve?

Nothing. It does absolutely zero to address the root cause(s) of student loan debt. It is just a free cash handout, and guess what happens five years from now? The same problem crops up again, and even potentially worse than before.

Biden tried to backdoor in mass student loan forgivess by making it so that people pay virtually nothing per month, then make it go all away in 10 years with consistent 'payments'.

Pay your bills and be an adult.

It allows people to go into fields that are really important and require a college degree, but don't make enough like teachers.

Yep hence PSLF, a previously completely bipartisan program.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Gotta try to pay for the tax cuts for corporations and rich people.

What problem does student loan forgiveness solve?

Nothing. It does absolutely zero to address the root cause(s) of student loan debt. It is just a free cash handout, and guess what happens five years from now? The same problem crops up again, and even potentially worse than before.

Biden tried to backdoor in mass student loan forgivess by making it so that people pay virtually nothing per month, then make it go all away in 10 years with consistent 'payments'.

Pay your bills and be an adult.

It allows people to go into fields that are really important and require a college degree, but don't make enough like teachers.

Yep hence PSLF, a previously completely bipartisan program.

If it was so bipartisan, why did the Trump administration refuse to carry it out as required by law?

[Anonymous]

Anonymous wrote:

Anonymous wrote:This may be a dumb question, but once forgiven can a student loan be "unforgiven?"

Does anyone know the answer to this? I’m afraid of the loans that I had forgiven will somehow be reinstated.

No. Ignore all the morons running around here, shouting about how things were hard for them, so things have to be hard for everyone, they paid for Harvard with their part-time burger skipping job etc etc.

If you actually read the article/have stayed on top of this recently, there is no plan to claw back forgiveness. The closest is the suggestion to sunset PSLF for new borrowers (which is a definite possibility, but would need to be done by statute).

[Anonymous]

Just one of the many ways Trump will destroy the economy. People don’t realize that student loan forgiveness is not charity or benevolence. It is to help pump more money into the economy. Too many people are so bogged down with student debt that they can’t spend any money. They can’t buy houses, cars, travel. My daughter is a second year teacher. No debt at all. She still doesn’t have much money to spend.

It is ridiculous that we convince 18 year olds to commit to this debt and then criticize them later on for not realizing the magnitude of what they took on.

[Anonymous]

Anonymous wrote:I think the thing that needs forgiven in terms of student loans is the interest.

It took me 8-10 years of working after graduation to be in a good financial place to make payments on mine that were more than the minimum monthly payment. I borrowed $27k over 4 years, so relatively low compared to many I know, but when all was said and done, I paid back $46k.

My sister has paid back her original student loan amount of $40k but still owes like $39k because of Interest.

Most people I know aren't averse to paying back what they borrowed. It's the interest that is crippling to them.

And that's what some of Biden's loan forgiveness plans addressed. I wish they had explained it better so people understood that many of these borrowers had paid off their principal years ago, or didn't have their loans forgiven even though they were in the Public Service Loan Forgiveness program.

https://www.nerdwallet.com/article/loans/student-loans/idr-waiver

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Gotta try to pay for the tax cuts for corporations and rich people.

What problem does student loan forgiveness solve?

Nothing. It does absolutely zero to address the root cause(s) of student loan debt. It is just a free cash handout, and guess what happens five years from now? The same problem crops up again, and even potentially worse than before.

Biden tried to backdoor in mass student loan forgivess by making it so that people pay virtually nothing per month, then make it go all away in 10 years with consistent 'payments'.

Pay your bills and be an adult.

It allows people to go into fields that are really important and require a college degree, but don't make enough like teachers.

Yep hence PSLF, a previously completely bipartisan program.

If it was so bipartisan, why did the Trump administration refuse to carry it out as required by law?

Note the word “previously.”

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:This may be a dumb question, but once forgiven can a student loan be "unforgiven?"

Does anyone know the answer to this? I’m afraid of the loans that I had forgiven will somehow be reinstated.

No. Ignore all the morons running around here, shouting about how things were hard for them, so things have to be hard for everyone, they paid for Harvard with their part-time burger skipping job etc etc.

If you actually read the article/have stayed on top of this recently, there is no plan to claw back forgiveness. The closest is the suggestion to sunset PSLF for new borrowers (which is a definite possibility, but would need to be done by statute).

The PP should have to pay it back with accrued interest for time it was forgiven.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I think the thing that needs forgiven in terms of student loans is the interest.

It took me 8-10 years of working after graduation to be in a good financial place to make payments on mine that were more than the minimum monthly payment. I borrowed $27k over 4 years, so relatively low compared to many I know, but when all was said and done, I paid back $46k.

My sister has paid back her original student loan amount of $40k but still owes like $39k because of Interest.

Most people I know aren't averse to paying back what they borrowed. It's the interest that is crippling to them.

And that's what some of Biden's loan forgiveness plans addressed. I wish they had explained it better so people understood that many of these borrowers had paid off their principal years ago, or didn't have their loans forgiven even though they were in the Public Service Loan Forgiveness program.

https://www.nerdwallet.com/article/loans/student-loans/idr-waiver

They did explain it. The GOP is simply better at developing simply slogans that idiots buy.

[Anonymous]

Anonymous wrote:Seems like he's dead set on rolling this back and rolling it bak quickly: https://www.politico.com/news/2024/11/26/trump-rollback-biden-student-debt-relief-00189841

good

[Anonymous]

Anonymous wrote:

Anonymous wrote:I think the thing that needs forgiven in terms of student loans is the interest.

It took me 8-10 years of working after graduation to be in a good financial place to make payments on mine that were more than the minimum monthly payment. I borrowed $27k over 4 years, so relatively low compared to many I know, but when all was said and done, I paid back $46k.

My sister has paid back her original student loan amount of $40k but still owes like $39k because of Interest.

Most people I know aren't averse to paying back what they borrowed. It's the interest that is crippling to them.

One of the few rational responses in this thread of bilge.

I don’t find it rational at all. Why should we forgive her interest and not that for someone’s mortgage or loan for healthcare expenses or a parent’s elder care? It’s all the responsibility of the person who signed the loan. It’s not the taxpayer’s.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I think the thing that needs forgiven in terms of student loans is the interest.

It took me 8-10 years of working after graduation to be in a good financial place to make payments on mine that were more than the minimum monthly payment. I borrowed $27k over 4 years, so relatively low compared to many I know, but when all was said and done, I paid back $46k.

My sister has paid back her original student loan amount of $40k but still owes like $39k because of Interest.

Most people I know aren't averse to paying back what they borrowed. It's the interest that is crippling to them.

And that's what some of Biden's loan forgiveness plans addressed. I wish they had explained it better so people understood that many of these borrowers had paid off their principal years ago, or didn't have their loans forgiven even though they were in the Public Service Loan Forgiveness program.

https://www.nerdwallet.com/article/loans/student-loans/idr-waiver

They did explain it. The GOP is simply better at developing simply slogans that idiots buy.

This! If you’re angry, you can’t process information.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Seems like he's dead set on rolling this back and rolling it bak quickly: https://www.politico.com/news/2024/11/26/trump-rollback-biden-student-debt-relief-00189841

good

She says, from the perch of her overpriced urban farmhouse in N. Arlington that her formerly poor, nerdy grad student husband who she had the brilliant foresight to see potential in paid for with his seven-figure “sales” job.