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

Forum Index » Political Discussion

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

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]this income cap sh** makes my blood boil. In principle it sounds like the right thing to do, but it screws more people than it helps. I make $125k in my hometown in Arkansas is not the same as $125k in this expensive DMV area. [/quote]

Isn't it just mirroring whatever the HHI was for the 2020 and 2021 pandemic stimulus checks?[/quote]

it is. I was fine with that. Although it would have been nice to get a $1200, that wasn't going to break me. These student loans are a lot different. I can't even qualify for a decent mortgage. My credit score is 763 and for what? 275k won't even get me a studio in DMV unless I want to be 60 miles away from where I work. [/quote]

You mean your credit score is great but your student loans are jacking up your debt to income ratio, thus sinking your pre-approved mortgage amount?

If that's what you mean, it's a good anecdote that in light of the housing market spike and inflation, $10K is just too lower. It ought to be $25K, depending on income. Or $10K and write off all of the interest which has accrued from the original principal. But $10K really isn't going to move the needle (anymore) after soaring housing, auto, and food costs.[/quote]

yes that is what I mean. and I have a couple friends in the same predicament. And here's the deal--my monthly payment is $622. Been paying on time for 7 years and my balance has decreased $19. [/quote]

Wow! I don't have student loan debt, so I hope this isn't too invasive. Can you share you est. original principal and what year it began, est. what you've paid thus far, and where est. current total balance? Is this for both a bachelor's and some sort of master's or professional degree?

From what I gather, the usury on these loans is really drowning people. Especially if you're an unmarried millennial, you can't get ahead. And you just missed out on making well over $100K+ on a house over the last 2-3 years. Now you have to try to buy into the red-hot housing market. It's so unfair.[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics