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Started By
Message
Interest to start accruing again on Aug. 1 for student loan borrowers on the SAVE plan
Posted on 7/15/25 at 2:03 pm
Posted on 7/15/25 at 2:03 pm
quote:
Borrowers who enrolled in the Saving on a Valuable Education income-driven repayment plan introduced by former President Joe Biden have been in an interest-free forbearance for about a year. But interest will resume accruing on those loans on Aug. 1, the Department of Education announced on July 9.
CNBC
This is an extremely abrupt change that will affect millions. I haven't even received a message from my loan servicer. I personally have the money to pay it off and have had it in a savings account for a few months but this will hit a ton of people who are not paying attention.
Absolutely terrible governance by Linda McMahon and Trump to not give warning before resuming the accrual of interest. There is also a major backlog in the system right now if you want to apply for another repayment plan.
I'm glad the Democrat donors in CA and NY got their SALT caps increased to $40k and the carried interest loophole is still in play for the NY hedge fund managers though.
This post was edited on 7/15/25 at 2:05 pm
12
Posted on 7/15/25 at 2:06 pm to Zipfer2022
Maybe they will learn to pay attention and not rely on the government to pay their depts
Posted on 7/15/25 at 2:07 pm to Zipfer2022
Good. Pay what you owe. I did.
Posted on 7/15/25 at 2:11 pm to NashvilleTider
quote:
depts
Posted on 7/15/25 at 2:12 pm to Zipfer2022
quote:
to not give warning before resuming the accrual of interest. T
How many days are there between 7/9 and 8/1?
Posted on 7/15/25 at 2:13 pm to Zipfer2022
quote:
nterest to start accruing again on Aug. 1 for student loan borrowers on the SAVE plan
I thought the SAVE plan was done? How can you accrue interest on a plan that no longer exists?
Posted on 7/15/25 at 2:14 pm to Zipfer2022
quote:
Absolutely terrible governance by Linda McMahon and Trump to not give warning before resuming the accrual of interest.
quote:
interest will resume accruing on those loans on Aug. 1, the Department of Education announced on July 9.
So they DID give warning... got it.
Posted on 7/15/25 at 2:18 pm to Zipfer2022
I started paying off my student loan right after I graduated, did not have much money but wanted to pay the debts that I owed. I was very happy when I completed paying it off. I look forward to you experiencing that same happiness.
Posted on 7/15/25 at 2:20 pm to MemphisGuy
quote:
So they DID give warning... got it.
Loan servicers have not even notified their customers due to this being a giant cluster held up in lawsuits for over a year. It is irresponsible by the administration to not even allow the servicers enough time to give the borrowers a warning.
This post was edited on 7/15/25 at 2:21 pm
Posted on 7/15/25 at 2:22 pm to FlyDownTheField83
quote:
I started paying off my student loan right after I graduated, did not have much money but wanted to pay the debts that I owed. I was very happy when I completed paying it off. I look forward to you experiencing that same happiness.
Not my student loan, I married into this BS.
Posted on 7/15/25 at 2:22 pm to Zipfer2022
Interest will resume but payments still won't, they are still in forbearance.
Borrowers on this program have been coasting an entire year with no interest accruing and no payments due. That's after all the interest and payment breaks they got during the Covid bs. If people couldn't figure out how to make a dent in their loans if not fully pay them off over a 5 year grace period, they wasted their money getting a degree anyway.
Borrowers on this program have been coasting an entire year with no interest accruing and no payments due. That's after all the interest and payment breaks they got during the Covid bs. If people couldn't figure out how to make a dent in their loans if not fully pay them off over a 5 year grace period, they wasted their money getting a degree anyway.
Posted on 7/15/25 at 2:23 pm to Zipfer2022
quote:They have been sending emails for a long time now and it is plastered all over the loan website.
Absolutely terrible governance by Linda McMahon and Trump to not give warning before resuming the accrual of interest. There is also a major backlog in the system right now if you want to apply for another repayment plan.
Posted on 7/16/25 at 7:30 am to Zipfer2022
Well then own up to being committed to the person you married and meet your financial obligations together.
Posted on 7/16/25 at 7:34 am to Zipfer2022
quote:
I personally have the money to pay it off and have had it in a savings account for a few months but this will hit a ton of people who are not paying attention.
So you had enough money to pay off what you owed, but you didnt...
quote:
There is also a major backlog in the system right now if you want to apply for another repayment plan.
So you can continue to not pay your debts?
quote:
I'm glad the Democrat donors in CA and NY got their SALT caps increased to $40k and the carried interest loophole is still in play for the NY hedge fund managers though.
Me too at least successful people are able to keep more of their earnings.
Posted on 7/16/25 at 7:37 am to Zipfer2022
quote:
It is irresponsible by the administration
No…. It is irresponsibility by YOU. Pay your fricking debt, the one you agreed too. It isn’t the taxpayer’s responsibility to bail you out, you leach
If you were smart and responsible, you would have taken advantage of the interest-free period to pay down your debt. Instead, you decided to play the system by not paying anything. I hope it cost you more in the end
Posted on 7/16/25 at 7:40 am to Zipfer2022
Cry more about it. Pay your debts
Posted on 7/16/25 at 7:40 am to Lightning
quote:
Interest will resume but payments still won't, they are still in forbearance.
Borrowers on this program have been coasting an entire year with no interest accruing and no payments due. That's after all the interest and payment breaks they got during the Covid bs.
And in the process, harming American investors.
Posted on 7/16/25 at 7:44 am to Zipfer2022
Aren’t all borrowers going to be accruing interest? I am going to switch to the RAP plan when I can as it is friendlier to higher earners and it contains interest from ballooning.
Posted on 7/16/25 at 10:51 am to Bourre
quote:
No…. It is irresponsibility by YOU. Pay your fricking debt, the one you agreed too. It isn’t the taxpayer’s responsibility to bail you out, you leach
If you were smart and responsible, you would have taken advantage of the interest-free period to pay down your debt. Instead, you decided to play the system by not paying anything. I hope it cost you more in the end
1. I’ll go out on a limb and say you cashed your COVID Stimulus checks. And you take every tax credit and deduction you lawfully can. Why do you leach off of government programs?
2. No reason to make interest only payments or ‘pay down ‘ the balance when he’s on a 20 year payment program. Pay on time for 20 years and the balance is $0. Those were the terms when he borrowed the money. And he’ll still be paying back more than the principal amount borrowed. No reason he should volunteer to pay more. Do you pay extra taxes for fun?
Posted on 7/16/25 at 11:19 am to SaintsTiger
quote:
1. I’ll go out on a limb and say you cashed your COVID Stimulus checks. And you take every tax credit and deduction you lawfully can. Why do you leach off of government programs?
I got 0 COVID stimulus checks because I make too much money so, no I didn’t cash any government COVID checks. Taking tax deductions and using tax credits, lawfully, isn’t leaching off the government. It’s the government leaching off me, retard
quote:
2. No reason to make interest only payments or ‘pay down ‘ the balance when he’s on a 20 year payment program. Pay on time for 20 years and the balance is $0. Those were the terms when he borrowed the money. And he’ll still be paying back more than the principal amount borrowed. No reason he should volunteer to pay more. Do you pay extra taxes for fun?
This whole paragraph proves you are both retarded and economically illiterate. He still has a loan but the interest and collection was temporarily suspended. He would have been paying down his principle without accruing interest, which would have saved him money at the end of the loan. Instead, he sat back and hoped the government would forgive his debts. People like you are why credit card companies and banks make so much money off retards
This post was edited on 7/16/25 at 11:30 am
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