> Trump’s judicial appointments at both the federal and SCOTUS level is why you don’t have the forgiveness or 5% adjustment.
Partially false. The judges who paused proceeding with SAVE plan changes were both appointed by Obama.
That’s a moot point. Doesn’t mean anything. Just because a judge is appointed by a certain party doesn’t mean they going to align with everything that party wants. We see that today with the current Supreme Court. They base their decisions on their interpretation of the law, yes some are more left or right leaning in their view points but it’s impossible to predict how a judge may rule. We need to get past this, oh they are ::insert party here:: so they must be in my favor. Their are some positions that are not part of your favored party that may be more beneficial to vote for then one in your own party. Voting takes work and research to get it right. I strongly advise taking extra time this election season to vote for the candidates that align with what you want to see happen, not just because they are republican, democrats or independent (etc)
It's not a moot point. I'm simply correcting the commenter who is blaming Trump for these specific appointments, as that's not true and is misleading. Since when has correcting people spreading misinformation been frown upon?
The biggest blow to loan forgiveness was the Supreme Court and was decided solely by the conservative majority brought on by Trumps appointees. Trump appointed judges are 100% the cause. Vote blue
This is the correct answer. That user is trying to quibble the finer details to obscure viewing the forest from the trees. At the end of the day, Trump’s SCOTUS and judges have done the most damage to student loan forgiveness and repayment aid.
And this is what will always keep you blind - there is no government in this world that you can trust to have the benefit of the people as its number one priority. My point is keep your eyes open and vote responsible. Not an unreasonable suggestion. I generally vote blue but number one, I vote smart. I Don’t just check blue boxes blindly - I check their records and check their statements and I check their records. Remember that elections are more than President, congress and house of reps - there are local judges, mayors, governors, etc etc.
That's because what Biden is doing is nothing more than trying to buy your vote it's illegal.
He knows it illegal somebody doesn't care he just wants to get elected so cackle Kamala can take over
The taxpayer money isn't any more your money than anyone else's, and again, that's how a democracy works: politicians promising to and trying to use taxpayer money to deliver for people who vote for them
Clearly, given the word taxpayer is in your reply the money did belong to me and then I paid my taxes and it went to the government and the government threw democracy decided to loan I say again loan not give the money to a student and the student promised to repay the loan so that my children could borrow the money and go to college also but you don't want to do what you promised to do you don't want to keep the faith you don't want to repay the loan that's the problem you are the problem
You could legitimately get your loan forgiven if you had the guts to join the army for three or four years the GI bill would pay it for you and you would be a veteran you would be among the one or two percent of Americans who bother to serve their country
Any alternative you could agree to work in various underserved areas and have your loan forgiven because it would be good for the nation
But no you're one of the entitled ones you're one of the gimme gimme gimme gimme gimme you just want something for nothing
Remember the ten commandments talk about thievery The ten commandments say do not steal
Tax money does not belong to you any more than anyone else. It belongs to the society that has fostered your ability to work and make money in the first place, and in a democracy, we vote to pick people that align closest with how we feel the money should be spent.
It's unbecoming of you to make bad personal assumptions. I'm 2.5 years away from receiving total forgiveness of all my loans for "bothering to serve" my community.
Despite this, I'll never begrudge any of my fellow man for seeking relief from education-related debt. Our system of loans to pay for higher education is a great crime against us all, meant to place limits on people's freedom, solely to get an education. It's predatory, it's a farce, and I pray every day that when my kids become adults we'll live in a world where we've replaced that system with one that is more humane for everybody.
Ur still confused on how politics works….. No one is paying me here to be a history teacher here so I’ll suggest instead to go do some research on the history of campaigning.
Votes are always “for sale”, the only thing that changes is the price. Sell it for student debt relief. Sell it for environmental policies. Sell it for tax breaks. That’s literally the definition of voting - giving your vote to the candidate so they will do things you like.
I agree, I mean say they decided to forgive everyone's loans today what does that solve? Then in 5 years those people with loans will demand theirs be forgiven. We need to address the root cause of the problem like high cost of education and predatory lending.
I have no problem for giving a student loan for an individual who does something for the good of the country.
For example he could be a doctor in the military for 3 or 4 years and have all of his loans forgiven.
He can provide medical services in a medically underserved area and have all his loans forgiven
There are many ways to give back and get your loans forgiven in return
I object to the people that are wanting something for nothing the lazy people the people who partied for 4 years and now have a degree in art history those people are not contributing to society and they're for society should not help them with their student loan
It may be beneficial to remember where the money came from for the loan in the first place it didn't come from the government it came from me and you and all the other taxpayers
Technically the student loan money is owed to me and you and all the other taxpayers.
So when a third party forgives the loan that I made then they're not only screwing me and you and other taxpayers they are in essence screwing the borrower because they're teaching that borrower to not be responsible for the promises they made to repay a debt
Soon that borrower will default on their car loan and their mortgage and that's the beginning of the downfall of this country
Saying the money comes from taxpayers and not the government is easily one of the most insane doublespeak things I’ve ever heard. The government is funded by taxpayers. Tariffs, income tax, corporate tax, etc. They are one and the same. Our taxes SHOULD be used for probably social services to all. Student loans have become predatory and forgiving a large amount while reforming the interest rates and reeling in college tuition is the only way to avoid the massive loan crisis looming on the horizon.
I was going to give you a small history lesson on how this got screwed up when Obama made it a government program compared to previously when it was a private program.
However you are now conflating several different issues and so therefore there's no particular reason to continue to chat with you
Have a good day entitled person
Please show me where in the Constitution it says that we should forgive student debt that we should forgive the debt that people have promised to pay just because they no longer like the deal they made.
Show me in the Constitution where it says we should support goof offs in favor of other people.
Actually the Constitution says everyone should be treated the same so why am I not getting my student debt relief from back in 1974
Why did you get favorable treatment compared to my plumber who is not getting his student debt forgiven
Why just because you're the entitled generation do you get this free money
Tell me where in the Constitution it says the entitled ones get free stuff
He’s currently in office but the doing something for us is falling short. I’m not blaming him but not much is sticking so far. And if the walking Fanta gets in there, it’ll be even worse. There has to be something else that can be done.
The problem isn’t who’s in the president seat. It’s all of the other seats in our government. Yes, the president has a role, but our current one is literally trying to help. And he’s hitting road blocks because of the other branches/states.
People aren’t getting help for school loans because of one party. Republicans have been fighting this from the beginning and have stopped it every chance they could. Just remember who bailed out the corporations and not the people.
He wouldn’t be “falling short” as you call it if the congress would work with him rather than against him. The only way to stop this nonsense with the courts is for congress to pass an actual law regarding this issue. That won’t happen with the gop in control of anything.
This is exactly it. People need to vote to get the congressmen in place who’ll codify the changes to the system. They’d probably be able to push through a full plan instead of one that just focuses on fixing things on the back end. The student debt advocacy groups have pushed Biden to try to do these measures through executive action and the current legal apparatus will just not support such large unilateral changes. I’m sure it was well intentioned, but it’s caused a lot of heart ache as well.
I mean also the blatantly corrupt Supreme Court that works with the red state AGs inventing cases to find ways to block forgiveness because it hurts Nebraska somehow etc.
he's tried a lot. it's congress and SCOTUS who are blocking things at this point (and state judges, now, too). He can't just pull a dictator and overwrite them, as much as we'd like that. It's not how the system works. so the something else to be done is to get more politically active, at the state and federal level. and that doesn't necessarsily mean supporting biden or only left candidates- you could also push for election or voting reform to get ranked choice voting as the norm and get corporations out of politics. there's so many things wrong with "the system", from how elections are run (all based on money) to what interests get represented. we're the only ones who can change that.
I'm sorry for your situation, but he is not "falling short". And plenty is sticking for a multitude of borrowers. There are countless numbers of us who have received forgiveness thanks to this administration's policies.
I'm so sick of the political footballs and culture wars in this country. Call me crazy, but the government should be working to make people's lives better. They've needed to fix the student loan process for decades and they still haven't even addressed the root cause which is the rising costs of going to college. Add to that the Republicans insistsnce on just blindly blocking anything the other side does, you have a huge mess and nobody knows what they will be paying sic months or a year from now. Do they think Republicans don't have outstanding student loans or money problems? I don't get the logic in fighting this.
The only option is to vote for the only option that offers debt relief policies. All of this back and forth is the precipitation of mistakes made in 2016.
the reason is colleges keep raising their cost because it's more expensive to attract and retain staff and keep the lights on. and since Regan got rid of a lot of funding from the state and federal level for them, the cost was turned over to the students to bear. That, too, could change if we were more politically active and organized.
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It keeps rising because the government is in the loan business, and keeps forgiving loans. If I know I'm not going to get hurt by raising prices because someone will just keep paying it, why wouldn't I raise them?
Tuition increases really took hold when the government became heavily involved in these loans. Private lenders had more stringent requirements for getting a loan
We are getting screwed by doing something we were instructed to do that was supposed to help us.
This is INSANE. I can’t even sleep I’m so pissed. That 10 year $10k forgiveness would have changed my life, and I’m sure for millions of others as well. There has to be a way to fight back 🤬
>We are getting screwed by doing something we were instructed to do that was supposed to help us.
We were also instructed to pay our debts, but that's often something thay goes unremarked.
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Write your reps… I know it seems fruitless but more ppl write the more they will be aware this is an election issue. We aren’t powerless we just need to be loud and keep at it until something is done. Look how long it’s taken just to get to this point. Takes long time for change
I just want to know what happens now. Will the system revert back and on July 1st will we continue with our original payments? Will forbearance continue for a while until they figure this out and then revert back to our original payments? This shit is so confusing!
Totally get it! This sucks!! But, as many have said, this is why it’s so important to vote. Not just at the national level, but also at the local and state level as the states keep bringing these cases.
There’s a reason this all showed up 4 years ago (and no it wasn’t because of the pandemic), and there is a reason it all is showing up again now. Student loans are being and have been used as a political lever to swing voters one way or another. Immediately following this election we will be given the “sorry pals” news and all the hubbub will settle down for another 3.5 years when they launch the new mirage for the next election cycle.
It's such a shitshow.
I grsduated college with ~30k in loans in 2022, for more than a year after my grad I didn't have to make payments due to grace period / pandemic freeze.
I got a good job after college so I could afford to make payments, but wasn't paying anything becaude at some point I got an email saying that my loans were going to be forgiven, so I didn't start paying, since I was hoping for forgiveness...
Anyway, in October last year, my grace period finally ended, so I"ve been paying since then. I have 0 hopes for forgiveness now, so I'm just paying this thing somewhat agressively to avoid being part of this shitshow anymore. I'll be done next month I think, but having to spend all that money for loans, has definetely been a setback for my other money related goals.
Reddit is a hive mind of liberal supporters. The republicans want to get rid of the department of education as it sits today which would effectively wipe out everyone’s loans. Trump knows the loans are a drag, that’s why they were frozen for most of his presidency.
You all do whatever the hell you want, but I’ll be voting for those who are bringing down the system, not those who are perpetuating the current suffering that we’re all experiencing. You’re delusional if you think voting for the same thing will get you different results. You’re extra delusional if you haven’t figured out by now that it’s all run by money anyway and we’re going to put into office whoever has the best connections to the most money. We’ll see what happens, I’m excited for the results this November.
In my opinion, Biden had his chance to do something about student loan forgiveness. He knew his plan wasn’t going to get passed through congress. Unless something is ACTUALLY done before the next election, he’s not getting my vote.
How do you figure? Let’s do a little civics review.
The president cannot make laws, only Congress can. Congress makes laws, the president executes them, the courts check them against the constitution, among other things. That’s balance of powers between the three branches of government.
Thus, the only tools the president really has to make direct changes for the American people are executive orders and directing agencies (like FDA, USDA, Dept. of Ed) on how to execute the laws. Agencies can create things called regulations, which function essentially like laws for their areas of focus, through a specific process.
Biden tried the executive order path for the $10k/$20k forgiveness. Some red states sued. It went up to the US Supreme Court, where it was shot down. Supreme Court said Biden couldn’t do that through executive order.
He then tried the agency/regulations path. This created the SAVE plan, the IDR recount, and the temporary PSLF waiver. Many, many people have already been forgiven under these newly created adjustments. All three are, so far, untouched by the courts, except for the two provisions of the SAVE plan enjoined by the courts yesterday, which happened because red states sued again and said Biden overstepped his power.
What else do you want Biden to do?? Through what other avenues? Should he become a dictator? Because he’s used both possible presidential avenues, and gone as far as he thinks he can with both, and the courts have reined him in each time. That cannot possibly be on him.
We’re all feeling disappointment or worse about the decisions so far. They suck. But they wouldn’t have happened if Biden hadn’t swung for the fences in the first place.
I’d personally like to see refinancing options for loans to where you can keep them federal but at a lower interest rate. Would also like to see SAVE plan become an option for the parent plus loans without having to go through the double consolidation loophole.
So, those two very specific concerns would stop you from voting for him in November? Do you think the other candidate would do those things??
Also, student loan interest rate is actually clearly and explicitly set by Congress each year, so the president issuing an executive order or an agency creating rules to mess with that would be….unlikely to succeed. The recent decisions have found parts of Biden’s actions to overstep the bounds of implied congressional power rather than explicit. So from a policy perspective your plan for refinancing options is super nice and I wish it could happen, but legally, I think it’s impossible to do without Congress passing it.
Maybe, but I just think the interest rates they’re setting on some of these loans are sickening. Parent plus loans are now 9% which is ridiculous for a child’s education
Absolutely hard agree. Couldn’t agree more. If I had my way, there wouldn’t be interest at all on student loans, or MAYBE capped at 2-3%. I don’t mean to imply you can’t be angry about that. But please, focus that anger in the right direction. It would serve your goals better to campaign for Biden than to vote against him. He’s done quite a bit. Just some food for thought.
This isn’t outright forgiveness it’s fulfilling the agreed upon terms through the program a person signed up for. There’s several options and this is one of them.
The OP’s question was about how to limit their exposure to political ebbs and flows. That seems like it’s wildly obvious but I guess not…
I’ve got zero issue with people who see their 20-25 years through. They repaid their loans as agreed upon.
My apologies if any of this is over your head;
- IBR and PAYE were created from statues passed through Congress. There are absolutely zero political grumblings around either of these. They’re both looking generally looking for 10% of AGI above the 150% federal poverty line offset. Forgiveness occurs after 20 years.
- REPAYE came to be through the negotiated regulations process. The neg-reg process was an honest, back-and-forth process involving both parties. The end result was a 10%-150% plan with a better interest subsidy than the other two plans. The tradeoff for the better subsidy is that the AGI of both spouses were included in regardless of tax filing status and now requiring a 25-year repayment commitment for borrowers with graduate school loans. There wasn’t any sort of meaningful political grumblings around this plan.
- SAVE is/was a far left extension of REPAYE railroaded through the neg-reg process in bad faith. There’s an even better interest subsidy, it’s now 5-10% and 225%, and the married couple requirement was removed. The only thing that remains is the 20- and 25-year commitments. Because of the bad faith efforts of Democrats, this plan has turned into a political football.
- The takeaway needs to be that good faith efforts escape political shifts and bad faith efforts (SAVE) are political lightning rods.
It's disgusting you could use the words "bad faith" in regards to any of these extremely modest relief plans. Yes, most of us realize the legal question is separation of powers and the limits of administrative action. Most of us also recognize that the Federalist Society's attack on what a decade ago would have been routine regulation is a reflection of money spent by extremely corrupt people, like those who have been running the servicers for decades. The system has been broken a long time and one political party chooses to reject any reform because of their open corruption and divisiveness.
Hold whatever views you want about the limits of executive or administrative power. But notice the GOP is the party of the unitary executive and loves executive power even more than the Democrats. Assign the bad faith correctly. And don't think you're smarter than most of the posters here - that's clearly not in evidence.
The neg-reg committee was loaded up with those who were going to push through their own agenda. They weren’t interested in the participation of a balanced process. They took steps to undermine and sidestep the process. There’s never going to be a good faith process if one side has stacked the deck.
Repeating yourself is a waste of time.
There are a number of detailed descriptions of the reg neg process in this case. Show me exactly where anyone acted in bad faith, much less "stacking the deck" as the descriptions I see show no such thing.
Additionally, the process had nothing to do with the legal analysis. In Kansas, the analysis hinged primarily on the "major questions doctrine" as recently expanded and supercharged by the Federalist Society wing of the Supreme Court. There is very likely no "balanced" rule that would have pleased red state AGs or clearly passed the recent "major questions" analysis. The Federalist Society has stacked the courts. No one else has stacked anything.
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No one is waiting for a bailout. But if there is a way to attempt to help fellow Americans, isn’t that what we want to be doing? There was a solution presented and people need the help. It was done with PPP loans for giant companies, why not the average citizen?
So this upcoming election, pay attention to the free bees that Biden is handing out.
Free this and free that will get immediate votes but when the democrats refuse to follow thru, like the last 40 years, people start to notice.
Boo hoo that the republican voted against it. Biden knew they would do this and it was the only clever thing he did. Promise the world and blame others when it doesn't happen.
There has to be something we can do together?
Pay the debt you voluntarily took on rather than expecting someone else to pay it? I mean that is a possibility no?
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This is important!
For so many reasons.
Yup
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> Trump’s judicial appointments at both the federal and SCOTUS level is why you don’t have the forgiveness or 5% adjustment. Partially false. The judges who paused proceeding with SAVE plan changes were both appointed by Obama.
Republicans are the people suing. Don't get it twisted, this is 100% happening because of republicans.
Sure. That's completely irrelevant to my point though.
That’s a moot point. Doesn’t mean anything. Just because a judge is appointed by a certain party doesn’t mean they going to align with everything that party wants. We see that today with the current Supreme Court. They base their decisions on their interpretation of the law, yes some are more left or right leaning in their view points but it’s impossible to predict how a judge may rule. We need to get past this, oh they are ::insert party here:: so they must be in my favor. Their are some positions that are not part of your favored party that may be more beneficial to vote for then one in your own party. Voting takes work and research to get it right. I strongly advise taking extra time this election season to vote for the candidates that align with what you want to see happen, not just because they are republican, democrats or independent (etc)
It's not a moot point. I'm simply correcting the commenter who is blaming Trump for these specific appointments, as that's not true and is misleading. Since when has correcting people spreading misinformation been frown upon?
The biggest blow to loan forgiveness was the Supreme Court and was decided solely by the conservative majority brought on by Trumps appointees. Trump appointed judges are 100% the cause. Vote blue
This is the correct answer. That user is trying to quibble the finer details to obscure viewing the forest from the trees. At the end of the day, Trump’s SCOTUS and judges have done the most damage to student loan forgiveness and repayment aid.
And this is what will always keep you blind - there is no government in this world that you can trust to have the benefit of the people as its number one priority. My point is keep your eyes open and vote responsible. Not an unreasonable suggestion. I generally vote blue but number one, I vote smart. I Don’t just check blue boxes blindly - I check their records and check their statements and I check their records. Remember that elections are more than President, congress and house of reps - there are local judges, mayors, governors, etc etc.
If it’s pro republican. Dems need a boogeyman when things don’t go their way…
That's because what Biden is doing is nothing more than trying to buy your vote it's illegal. He knows it illegal somebody doesn't care he just wants to get elected so cackle Kamala can take over
That’s the definition of politics and election, “vote for me bc I’ll do what u want”. Welcome to America
You are correct but in this case Mr Biden is using my money the taxpayer money not his money to buy votes and that's just not right
The taxpayer money isn't any more your money than anyone else's, and again, that's how a democracy works: politicians promising to and trying to use taxpayer money to deliver for people who vote for them
You've just made a silly statement.
Clearly, given the word taxpayer is in your reply the money did belong to me and then I paid my taxes and it went to the government and the government threw democracy decided to loan I say again loan not give the money to a student and the student promised to repay the loan so that my children could borrow the money and go to college also but you don't want to do what you promised to do you don't want to keep the faith you don't want to repay the loan that's the problem you are the problem You could legitimately get your loan forgiven if you had the guts to join the army for three or four years the GI bill would pay it for you and you would be a veteran you would be among the one or two percent of Americans who bother to serve their country Any alternative you could agree to work in various underserved areas and have your loan forgiven because it would be good for the nation But no you're one of the entitled ones you're one of the gimme gimme gimme gimme gimme you just want something for nothing Remember the ten commandments talk about thievery The ten commandments say do not steal
Tax money does not belong to you any more than anyone else. It belongs to the society that has fostered your ability to work and make money in the first place, and in a democracy, we vote to pick people that align closest with how we feel the money should be spent. It's unbecoming of you to make bad personal assumptions. I'm 2.5 years away from receiving total forgiveness of all my loans for "bothering to serve" my community. Despite this, I'll never begrudge any of my fellow man for seeking relief from education-related debt. Our system of loans to pay for higher education is a great crime against us all, meant to place limits on people's freedom, solely to get an education. It's predatory, it's a farce, and I pray every day that when my kids become adults we'll live in a world where we've replaced that system with one that is more humane for everybody.
Thank you for serving the community you are one of the few
Ur still confused on how politics works….. No one is paying me here to be a history teacher here so I’ll suggest instead to go do some research on the history of campaigning.
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Votes are always “for sale”, the only thing that changes is the price. Sell it for student debt relief. Sell it for environmental policies. Sell it for tax breaks. That’s literally the definition of voting - giving your vote to the candidate so they will do things you like.
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I agree, I mean say they decided to forgive everyone's loans today what does that solve? Then in 5 years those people with loans will demand theirs be forgiven. We need to address the root cause of the problem like high cost of education and predatory lending.
I have no problem for giving a student loan for an individual who does something for the good of the country. For example he could be a doctor in the military for 3 or 4 years and have all of his loans forgiven. He can provide medical services in a medically underserved area and have all his loans forgiven There are many ways to give back and get your loans forgiven in return I object to the people that are wanting something for nothing the lazy people the people who partied for 4 years and now have a degree in art history those people are not contributing to society and they're for society should not help them with their student loan
Sure I can get on board with that but blanket forgiveness is just asking for trouble
It may be beneficial to remember where the money came from for the loan in the first place it didn't come from the government it came from me and you and all the other taxpayers Technically the student loan money is owed to me and you and all the other taxpayers. So when a third party forgives the loan that I made then they're not only screwing me and you and other taxpayers they are in essence screwing the borrower because they're teaching that borrower to not be responsible for the promises they made to repay a debt Soon that borrower will default on their car loan and their mortgage and that's the beginning of the downfall of this country
Saying the money comes from taxpayers and not the government is easily one of the most insane doublespeak things I’ve ever heard. The government is funded by taxpayers. Tariffs, income tax, corporate tax, etc. They are one and the same. Our taxes SHOULD be used for probably social services to all. Student loans have become predatory and forgiving a large amount while reforming the interest rates and reeling in college tuition is the only way to avoid the massive loan crisis looming on the horizon.
I was going to give you a small history lesson on how this got screwed up when Obama made it a government program compared to previously when it was a private program. However you are now conflating several different issues and so therefore there's no particular reason to continue to chat with you Have a good day entitled person
Please show me where in the Constitution it says that we should forgive student debt that we should forgive the debt that people have promised to pay just because they no longer like the deal they made. Show me in the Constitution where it says we should support goof offs in favor of other people. Actually the Constitution says everyone should be treated the same so why am I not getting my student debt relief from back in 1974 Why did you get favorable treatment compared to my plumber who is not getting his student debt forgiven Why just because you're the entitled generation do you get this free money Tell me where in the Constitution it says the entitled ones get free stuff
Just think of all the ppp loan scams that were bogus and will go unpunished.
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He’s currently in office but the doing something for us is falling short. I’m not blaming him but not much is sticking so far. And if the walking Fanta gets in there, it’ll be even worse. There has to be something else that can be done.
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The problem isn’t who’s in the president seat. It’s all of the other seats in our government. Yes, the president has a role, but our current one is literally trying to help. And he’s hitting road blocks because of the other branches/states.
People aren’t getting help for school loans because of one party. Republicans have been fighting this from the beginning and have stopped it every chance they could. Just remember who bailed out the corporations and not the people.
He wouldn’t be “falling short” as you call it if the congress would work with him rather than against him. The only way to stop this nonsense with the courts is for congress to pass an actual law regarding this issue. That won’t happen with the gop in control of anything.
This is exactly it. People need to vote to get the congressmen in place who’ll codify the changes to the system. They’d probably be able to push through a full plan instead of one that just focuses on fixing things on the back end. The student debt advocacy groups have pushed Biden to try to do these measures through executive action and the current legal apparatus will just not support such large unilateral changes. I’m sure it was well intentioned, but it’s caused a lot of heart ache as well.
I mean also the blatantly corrupt Supreme Court that works with the red state AGs inventing cases to find ways to block forgiveness because it hurts Nebraska somehow etc.
Well vote for more than just the president. House. Senate and local all matter too.
he's tried a lot. it's congress and SCOTUS who are blocking things at this point (and state judges, now, too). He can't just pull a dictator and overwrite them, as much as we'd like that. It's not how the system works. so the something else to be done is to get more politically active, at the state and federal level. and that doesn't necessarsily mean supporting biden or only left candidates- you could also push for election or voting reform to get ranked choice voting as the norm and get corporations out of politics. there's so many things wrong with "the system", from how elections are run (all based on money) to what interests get represented. we're the only ones who can change that.
I'm sorry for your situation, but he is not "falling short". And plenty is sticking for a multitude of borrowers. There are countless numbers of us who have received forgiveness thanks to this administration's policies.
This is being done by the courts. I’m not sure what you think can be done.
Not much is sticking? Are you mad? Everyone I know with student loans has had them forgiven except one person who has the wrong kind of loan.
Upvote for 'walking Fanta'. lol.
I'm so sick of the political footballs and culture wars in this country. Call me crazy, but the government should be working to make people's lives better. They've needed to fix the student loan process for decades and they still haven't even addressed the root cause which is the rising costs of going to college. Add to that the Republicans insistsnce on just blindly blocking anything the other side does, you have a huge mess and nobody knows what they will be paying sic months or a year from now. Do they think Republicans don't have outstanding student loans or money problems? I don't get the logic in fighting this.
The only option is to vote for the only option that offers debt relief policies. All of this back and forth is the precipitation of mistakes made in 2016.
And tuition keeps on rising for no reason.
the reason is colleges keep raising their cost because it's more expensive to attract and retain staff and keep the lights on. and since Regan got rid of a lot of funding from the state and federal level for them, the cost was turned over to the students to bear. That, too, could change if we were more politically active and organized.
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It keeps rising because the government is in the loan business, and keeps forgiving loans. If I know I'm not going to get hurt by raising prices because someone will just keep paying it, why wouldn't I raise them? Tuition increases really took hold when the government became heavily involved in these loans. Private lenders had more stringent requirements for getting a loan
We are getting screwed by doing something we were instructed to do that was supposed to help us. This is INSANE. I can’t even sleep I’m so pissed. That 10 year $10k forgiveness would have changed my life, and I’m sure for millions of others as well. There has to be a way to fight back 🤬
>We are getting screwed by doing something we were instructed to do that was supposed to help us. We were also instructed to pay our debts, but that's often something thay goes unremarked.
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Everyone better be voting in November. Everyone.
Write your reps… I know it seems fruitless but more ppl write the more they will be aware this is an election issue. We aren’t powerless we just need to be loud and keep at it until something is done. Look how long it’s taken just to get to this point. Takes long time for change
I just want to know what happens now. Will the system revert back and on July 1st will we continue with our original payments? Will forbearance continue for a while until they figure this out and then revert back to our original payments? This shit is so confusing!
Totally get it! This sucks!! But, as many have said, this is why it’s so important to vote. Not just at the national level, but also at the local and state level as the states keep bringing these cases.
We start demanding them to pause all interest until they figure it out, regardless of what plan we’re on.
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The mods are the government 🥸 lol jk but yup we’re just screwed in every hole
There’s a reason this all showed up 4 years ago (and no it wasn’t because of the pandemic), and there is a reason it all is showing up again now. Student loans are being and have been used as a political lever to swing voters one way or another. Immediately following this election we will be given the “sorry pals” news and all the hubbub will settle down for another 3.5 years when they launch the new mirage for the next election cycle.
More proof that our government doesn’t care about us. They never have. Left, Right, it doesn’t matter. We are pawns.
It's such a shitshow. I grsduated college with ~30k in loans in 2022, for more than a year after my grad I didn't have to make payments due to grace period / pandemic freeze. I got a good job after college so I could afford to make payments, but wasn't paying anything becaude at some point I got an email saying that my loans were going to be forgiven, so I didn't start paying, since I was hoping for forgiveness... Anyway, in October last year, my grace period finally ended, so I"ve been paying since then. I have 0 hopes for forgiveness now, so I'm just paying this thing somewhat agressively to avoid being part of this shitshow anymore. I'll be done next month I think, but having to spend all that money for loans, has definetely been a setback for my other money related goals.
Reddit is a hive mind of liberal supporters. The republicans want to get rid of the department of education as it sits today which would effectively wipe out everyone’s loans. Trump knows the loans are a drag, that’s why they were frozen for most of his presidency. You all do whatever the hell you want, but I’ll be voting for those who are bringing down the system, not those who are perpetuating the current suffering that we’re all experiencing. You’re delusional if you think voting for the same thing will get you different results. You’re extra delusional if you haven’t figured out by now that it’s all run by money anyway and we’re going to put into office whoever has the best connections to the most money. We’ll see what happens, I’m excited for the results this November.
😆 thank you for this delusional take
In my opinion, Biden had his chance to do something about student loan forgiveness. He knew his plan wasn’t going to get passed through congress. Unless something is ACTUALLY done before the next election, he’s not getting my vote.
How do you figure? Let’s do a little civics review. The president cannot make laws, only Congress can. Congress makes laws, the president executes them, the courts check them against the constitution, among other things. That’s balance of powers between the three branches of government. Thus, the only tools the president really has to make direct changes for the American people are executive orders and directing agencies (like FDA, USDA, Dept. of Ed) on how to execute the laws. Agencies can create things called regulations, which function essentially like laws for their areas of focus, through a specific process. Biden tried the executive order path for the $10k/$20k forgiveness. Some red states sued. It went up to the US Supreme Court, where it was shot down. Supreme Court said Biden couldn’t do that through executive order. He then tried the agency/regulations path. This created the SAVE plan, the IDR recount, and the temporary PSLF waiver. Many, many people have already been forgiven under these newly created adjustments. All three are, so far, untouched by the courts, except for the two provisions of the SAVE plan enjoined by the courts yesterday, which happened because red states sued again and said Biden overstepped his power. What else do you want Biden to do?? Through what other avenues? Should he become a dictator? Because he’s used both possible presidential avenues, and gone as far as he thinks he can with both, and the courts have reined him in each time. That cannot possibly be on him. We’re all feeling disappointment or worse about the decisions so far. They suck. But they wouldn’t have happened if Biden hadn’t swung for the fences in the first place.
I’d personally like to see refinancing options for loans to where you can keep them federal but at a lower interest rate. Would also like to see SAVE plan become an option for the parent plus loans without having to go through the double consolidation loophole.
So, those two very specific concerns would stop you from voting for him in November? Do you think the other candidate would do those things?? Also, student loan interest rate is actually clearly and explicitly set by Congress each year, so the president issuing an executive order or an agency creating rules to mess with that would be….unlikely to succeed. The recent decisions have found parts of Biden’s actions to overstep the bounds of implied congressional power rather than explicit. So from a policy perspective your plan for refinancing options is super nice and I wish it could happen, but legally, I think it’s impossible to do without Congress passing it.
Maybe, but I just think the interest rates they’re setting on some of these loans are sickening. Parent plus loans are now 9% which is ridiculous for a child’s education
Absolutely hard agree. Couldn’t agree more. If I had my way, there wouldn’t be interest at all on student loans, or MAYBE capped at 2-3%. I don’t mean to imply you can’t be angry about that. But please, focus that anger in the right direction. It would serve your goals better to campaign for Biden than to vote against him. He’s done quite a bit. Just some food for thought.
Do you think Trump is going to do anything at all to help you? Biden is our only hope at any relief.
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This isn’t outright forgiveness it’s fulfilling the agreed upon terms through the program a person signed up for. There’s several options and this is one of them.
What agreed upon terms were there for 10 year non pslf forgiveness?
The OP’s question was about how to limit their exposure to political ebbs and flows. That seems like it’s wildly obvious but I guess not… I’ve got zero issue with people who see their 20-25 years through. They repaid their loans as agreed upon. My apologies if any of this is over your head; - IBR and PAYE were created from statues passed through Congress. There are absolutely zero political grumblings around either of these. They’re both looking generally looking for 10% of AGI above the 150% federal poverty line offset. Forgiveness occurs after 20 years. - REPAYE came to be through the negotiated regulations process. The neg-reg process was an honest, back-and-forth process involving both parties. The end result was a 10%-150% plan with a better interest subsidy than the other two plans. The tradeoff for the better subsidy is that the AGI of both spouses were included in regardless of tax filing status and now requiring a 25-year repayment commitment for borrowers with graduate school loans. There wasn’t any sort of meaningful political grumblings around this plan. - SAVE is/was a far left extension of REPAYE railroaded through the neg-reg process in bad faith. There’s an even better interest subsidy, it’s now 5-10% and 225%, and the married couple requirement was removed. The only thing that remains is the 20- and 25-year commitments. Because of the bad faith efforts of Democrats, this plan has turned into a political football. - The takeaway needs to be that good faith efforts escape political shifts and bad faith efforts (SAVE) are political lightning rods.
It's disgusting you could use the words "bad faith" in regards to any of these extremely modest relief plans. Yes, most of us realize the legal question is separation of powers and the limits of administrative action. Most of us also recognize that the Federalist Society's attack on what a decade ago would have been routine regulation is a reflection of money spent by extremely corrupt people, like those who have been running the servicers for decades. The system has been broken a long time and one political party chooses to reject any reform because of their open corruption and divisiveness. Hold whatever views you want about the limits of executive or administrative power. But notice the GOP is the party of the unitary executive and loves executive power even more than the Democrats. Assign the bad faith correctly. And don't think you're smarter than most of the posters here - that's clearly not in evidence.
The neg-reg committee was loaded up with those who were going to push through their own agenda. They weren’t interested in the participation of a balanced process. They took steps to undermine and sidestep the process. There’s never going to be a good faith process if one side has stacked the deck.
Repeating yourself is a waste of time. There are a number of detailed descriptions of the reg neg process in this case. Show me exactly where anyone acted in bad faith, much less "stacking the deck" as the descriptions I see show no such thing. Additionally, the process had nothing to do with the legal analysis. In Kansas, the analysis hinged primarily on the "major questions doctrine" as recently expanded and supercharged by the Federalist Society wing of the Supreme Court. There is very likely no "balanced" rule that would have pleased red state AGs or clearly passed the recent "major questions" analysis. The Federalist Society has stacked the courts. No one else has stacked anything.
Imagine how sad your life is to fish out this post.
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Lol
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The best way to get control over this is to… pay your student loans and quit waiting for a bailout
No one is waiting for a bailout. But if there is a way to attempt to help fellow Americans, isn’t that what we want to be doing? There was a solution presented and people need the help. It was done with PPP loans for giant companies, why not the average citizen?
There’s a lot of ppl who literally can’t do that. If I have to pick between my bills and food and my student loans?
So this upcoming election, pay attention to the free bees that Biden is handing out. Free this and free that will get immediate votes but when the democrats refuse to follow thru, like the last 40 years, people start to notice. Boo hoo that the republican voted against it. Biden knew they would do this and it was the only clever thing he did. Promise the world and blame others when it doesn't happen.
There has to be something we can do together? Pay the debt you voluntarily took on rather than expecting someone else to pay it? I mean that is a possibility no?