Student Loan Crisis!

[Jolene Benoir]

This joker talking about "Exinguishing the left and completely defunding public schools, going to a 100% private school model. He also speaks of destroying Govt agencies, including the DOJ (what will Trumpy boy use to go after his political enemies, then?) He's speaking to a group of teens. Video in article:

GOP chair caught on camera saying "we need to extinguish the left"

Anthony Sabatini, who is running for Congress in Florida's 11th district, reportedly made the remarks during June's Florida Teenage Republicans Youth Summit.

www.newsweek.com

 

[WolfEyes]

Screwdriver isn't rusty enough.

 

[Veritable Quandry]

Rusty chainsaw. With a bent piston rod.

 

[WolfEyes]

Perfect!

 

[Katheryne Helendale]

This joker talking about "Exinguishing the left and completely defunding public schools, going to a 100% private school model. He also speaks of destroying Govt agencies, including the DOJ (what will Trumpy boy use to go after his political enemies, then?) He's speaking to a group of teens. Video in article:

GOP chair caught on camera saying "we need to extinguish the left"

Anthony Sabatini, who is running for Congress in Florida's 11th district, reportedly made the remarks during June's Florida Teenage Republicans Youth Summit.

www.newsweek.com

Not to put too fine a point on it, but he's a fucking idiot! And so are the people applauding his ideas!

 

[Kalel]

it started eariler this week and will take a few weeks.. those who were under income driven repayment plans who were promised to have thier loans forgiven but didn't due to administrative error will finally get it.

The rest of us are preparing for re-payment...which will start as early as September 1st..
a new IDR plan has been introduced to lower payments to 5% instead of 10%... but theres lots of regulatory tape... i can't find an ETA...

They are planning to try debt relief again through a different law..but will likely face legal challenges like before

Biden administration begins canceling student loan debt for 804,000 borrowers

The Biden administration is canceling student loan debt for 804,000 borrowers who qualify under income-driven repayment plans but haven't received it because of errors

abcnews.go.com

 

[Kalel]

i've started IDRrepayment. not happy about it but i'm doing better off then allot of others.

Bidens Plan B is Rocky but slowly working

more and more people are attempting the bankrupty route even tho there is a slim chance...

WSJ News Exclusive | Student Borrowers Tap a New Path to Loan Forgiveness: Bankruptcy

The number seeking relief in court increased in the past year after a policy change, but remains extremely low for now.

www.wsj.com

Some people aren't happy about this.. especially those that have paid it off..

USA Today
Biden pushes yet another sneaky student loan forgiveness scheme
President Biden is desperate to offer some sort of major student loan forgiveness ahead of 2024 election. But these debts don't magically...
.
25 mins ago

 

[Khamon]

Being quite ancient, my loan was paid years ago, but I'll never begrudge forgiveness of current loans.

 

[Noodles]

You know, you would think more of these free market jokers would love this.

People not pissing away money to loan companies, have money to spend. Which you would think would be good for the overall economy. Any company that actually makes and sells literally any actual product that isn't middle man cancer should be loving the idea of getting rid of all this debt, especially debt from consumer hungry young people.

Hell it would even be good for the stupid broken housing market investors since it means money for rent etc. That whole mess still needs fixing but sumping the student debt would be good for it.

 

[Kamilah Hauptmann]

Spam edit countdown.

 

[Kalel]

approx 17 million students expected to apply for financial Aid this year but delayed decision making and rapid rise of inflation could lead to greater cost for families and students could be denied grants for collage cause numbers don't line up...

"And lawmakers told the Education Department to use a new, more generous formula to protect more of a family's income from being used to determine financial aid eligibility. They also told the department to adjust its math for inflation.

Let's call this one partially checked ... because the department didn't do that last bit, adjusting for inflation — a failure first reported by The Washington Post.

That's a problem because protecting more of a student's or family's income allows them to qualify for more financial aid. And failing to adjust this "income protection allowance" for inflation, especially given the past couple years of rampant inflation, will make it look as though students and families have more income at their disposal than they really do. And that will mean they qualify for less student aid."

https://www.npr.org/2024/01/09/1222664638/fafsa-student-financial-aid-college

 

[Zaida Gearbox]

My niece is in the college applications process. She has been promised a 75% scholarship for one school and she is interviewing for a 100% scholarship. Her little sister has a 6 figure trust fund from the settlement when she got mauled by a rottweiler. So, my sister and BIL will only really have to figure out how to pay for my nephew.

 

[Veritable Quandry]

I requested a forbearance because I have made all of my payments for Public Service forgiveness and they are slow as fuck processing the form to check employment history.

The forbearance was denied because I am on a "zero dollar repayment plan." My monthly payment is 1¢ so technically I guess there are no dollars. After they process the PSLF form they will have to refund me the payments.

 

[Kalel]

since the return of payment last year, there has been widespread issues all over. Confusion, inaccurate dates and bills, inflation based on old poverty rules,etc,etc..

some accounts like my friends have been put into administrative forbearance until they can process everything.

Good luck getting one of those companies over a phone..>.< They were warned of this... they didn't listen.

Unfortunately for me, they have everything on file i'm already under a income based payment plan so... no extra relief for me

Student Loan Nightmare: The Latest Student Loan Servicing and Forbearance Problems

Learn the latest struggles student loan borrowers are facing, penalties for loan servicers, and how advocacy groups are demanding accountability.

www.studentloanplanner.com

This week they are trying to push Bidens plan even more But Republicans have their own plan which caps on giving anyone any relief.

New Republican bill would slash Biden's student loan forgiveness plans

The College Cost Reduction Act would update the federal student loan system so borrowers would no longer qualify for forgiveness.

www.newsweek.com

 

[Veritable Quandry]

Republicans want any repayment program to be punitive.

 

[Kalel]

I was young and naive.... everyone told me to go to college and get a degree... early days of the internet.... all the info agreed it was the only way to be successful... my dying uncle told me to pursue my masters even tho i originally wanted to stop at bachlors.... i went to Adults who i thought were "supervisors". experts who knew how everything worked. followed their suggestions... i thought i had made an "informed" decision on my future.

every time i look at Nelnet... i remember the old creepy man at the Greyhound bus stop late night telling not to go. that college is pointless...

i don't regret my college and friends i made..i still wish i could go back in time and stop myself. tell him how cruel the world really is... maybe i'd have a house by now..

 

[Zaida Gearbox]

Yeah, I went to college right before the internet. The financial aid office at my school actually told me that it didn't matter where I went to school that they'd adjust my grant money, so that I'd have to take out about the same amount in loans - which of course is a big fat fucking lie. But, I didn't know that when I was 18. They also didn't tell me that I could have gone to at least my first two years for absolutely free because I was a single mom - this was right before Clinton's welfare reform, and people who got whatever they used to call TANF - well it would pay for you to persue an education or a trade so you could get off welfare. I never got any aid because I was surrounded by people who told me how shameful it was. Plus, I also didn't know the state of VA would have been too lazy to go after Spawn's sperm donor, and I was worried about him coming and trying to take Spawn if the state went after him for support.

 

[Kalel]

you would need to have been enrolled on the SAVE plan biden created and in repayment for at least 10 years on a loan of $12,000 or less.

1.2 billion relief seems like allot But compared to the $1.7 Trillion in federal and private loans. This is literary just a drop in the bucket. Average student loan is usually 40-50K depending on the state.

Biden cancels $1.2B in student loan debt for borrowers on income-driven repayment plan

The Biden administration has approved another $1.2 billion in student debt discharges for more than 150,000 borrowers.

www.usatoday.com

 

[Kalel]

Appeals court has blocked the new SAVING plan that was already in the process..... the confusing back and forth isn't helping anyone. Expect more delays and hardships.. yay!

In a post on X, Bailey called the appeals court decision a “HUGE win for every American who still believes in paying their own way.” He said Save is an “illegal student loan plan, which would have saddled working Americans with half-a-trillion dollars in Ivy League debt.”

“It’s shameful that politically motivated lawsuits waged by Republican elected officials are once again standing in the way of lower payments for millions of borrowers.”

“To revert to the pre-Save plan approach, the Department and its servicers would have to reprogram their systems, retrain their staff, and recalculate monthly payments,” Solicitor General Elizabeth B. Prelogar wrote in a court filing Wednesday. “That process would take at least several months, during which the Department would have no choice but to place many borrowers into forbearance until servicers are able to bill them for the new amounts.”

“This decision threatens the entire federal student loan system and will cause complete chaos and confusion,” said Eileen Connor, president and executive director of the Project on Predatory Student Lending. “The Save plan was created to allow low-income borrowers a fair path to repay their federal student loans and instead they will now have a greater risk of default and serious financial consequences.”

https://www.washingtonpost.com/education/2024/07/18/biden-student-loan-repayment-plan-blocked/

Student Loan Borrowers Face ‘Devastating’ Impacts After Court Halts Loan Forgiveness Plan, Says Official

The student loan system has been been thrust into upheaval yet again after a court halted a key Biden student loan forgiveness and repayment plan. Here's the latest.

www.forbes.com

 

[Kalel]

Federal Appeals Court didn't state that the injunction was only for Bidens SAVE program... and they refuse to make it clear.. so no program is safe doesn't matter if income based or already in a public forgiveness program. NO RELIEF FOR ANYONE!!.

At this point point it will go to supreme court.. everything on hold or still in limbo as they are still trying to revamp systems to comply with the lastest ruling...

This is such a mess....

Court Issues Yet Another Blow To Student Loan Forgiveness As Appeals Continue

A federal appeals court has issued yet another blow to student loan forgiveness as millions of borrowers remain in limbo following a flurry of challenges and appeals.

www.forbes.com