Reply to Why is Biden extending the student loan repayment pause?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I agree with you, OP. My husband and I are both in PSLF, so this program has effectively meant $2,000 that we don’t pay each month times 2+ years and it’s still counting toward our PSLF. We are UMC and this program makes no sense to us. It absolutely drives inflation as well. At dinner today my husband and I were remarking how ridiculous it is that the child tax credit payments were allowed to expire but this program helping a family making $350k HHI is being lauded by progressives.[/quote]

You are a minority in the PSLF program. My friend is making 70k as a teacher with a masters degree in HoCO, my DH is making 99k as a GS-12 at 35. 350K is a ridiculously high income for anyone much less [b]for both of you to meet the requirements for PSLF.[/b] I do wish they would start- for any and all federal programs- have an income limit that is adjusted for COL. But you are an anomaly. [/quote]

PSLF never had a means test or income limitation. It's already insanely hard to get PSLF forgiveness and the entire program was mismanaged by private sector servicers, with poor documentation and record keeping. Can you imagine how much harder it would be to get PSLF forgiveness if they had additionally tried to means test the program? Forget about it.

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Im aware it didnt/doesnt but PSLF is for federal, state and non profit. 350K is not anywhere NEAR the average salary for 2 individuals in those sectors. It just isnt. And for this person to benefit from the program and then talk sideways about inflation is disgusting. PSLF is not a requirement. You have to enroll. That UMC couple could have just paid their loans if they feel so strongly about it but its just like rich people and taxes, complain about the tax code that rich people write but use every loophole provided. [/quote]

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