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Started By
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40,000 people will have their student loans erased.
Posted on 4/19/22 at 4:27 pm
Posted on 4/19/22 at 4:27 pm
The catch… You have to work for the government or certain nonprofits, and have been making minimal payments for several years. Don’t worry though. They are offering other avenues of relief and forgiveness.
The Hill
quote:
The Department of Education announced on Tuesday that thousands of borrowers could see immediate forgiveness under changes the agency said it will be making to address long-standing failures in federal student loan programs.
As part of the changes, the agency said at least 40,000 borrowers will be set for debt cancellation under the Public Service Loan Forgiveness (PSLF) program, under which full-time public service workers are eligible for forgiveness after a certain number of qualifying payments.
Additionally, the agency said thousands of borrowers with older loans will receive forgiveness through income-driven repayment (IDR) plans and
more than 3.6 million borrowers will “receive at least three years of additional credit toward IDR forgiveness.”
The Hill
29
Posted on 4/19/22 at 4:27 pm to Ghost of Colby
If they actually erased student loans, they wouldn't have anything to yell at Republicans about.
Posted on 4/19/22 at 4:31 pm to Ghost of Colby
quote:
The PSLF Program, which was established under the College Cost Reduction and Access Act of 2007
Posted on 4/19/22 at 4:32 pm to Ghost of Colby
indentured servitude
Posted on 4/19/22 at 4:34 pm to Ghost of Colby
quote:More than 40,000 comin' every day...
40,000 people will have their student loans erased.
Posted on 4/19/22 at 4:34 pm to Ghost of Colby
We all know the loans that will be erased will be for people that either dropped out of college or went to Grand Canyon online U and got shitty arse jobs making less than 40k a year. Heaven forbid you actually used a student loan to get an actual college degree worth a shite. The people that are just getting by and could actual benefit from canceling their monthly student loan payment won’t be helped because they make over 50k or more a year. Once again democrats will reward shitty choices with shitty consequences. Merica 
Posted on 4/19/22 at 4:34 pm to Jcorye1
How about the SBA loans people in southern USA made after Katerina to help rebuild their homes. So student loans bye bye but SBA loans started having to repay earlier this month. fricking place is arse backwards. Some people in Louisiana were even hit again by Ida . Go figure!
Posted on 4/19/22 at 4:35 pm to Ghost of Colby
My lefty niece was all happy the suspension was extended again and was really looking forward to forgiveness so she wouldn't have to pay her student loans back.
Mind you, she has a job paying $90k+ per year.
Mind you, she has a job paying $90k+ per year.
Posted on 4/19/22 at 4:37 pm to Ghost of Colby
quote:
to address long-standing failures in federal student loan programs.
What are those failures?
Posted on 4/19/22 at 4:38 pm to Ghost of Colby
Build Back Better
Posted on 4/19/22 at 4:39 pm to Ghost of Colby
I want my $14,000 in student loans that I repaid diligently, responsibly, and five years early. Guess I’m too white, responsible, and Republican to qualify.
Posted on 4/19/22 at 4:40 pm to Ghost of Colby
This program has been around for a while (since 2007)
Posted on 4/19/22 at 4:40 pm to Chucktown_Badger
The failures they mean are the ones that actually took the loan money and defaulted on the loan. Guarantee these are the loans that will be dropped. BOOK IT
Posted on 4/19/22 at 4:44 pm to Mingo Was His NameO
quote:
The PSLF Program, which was established under the College Cost Reduction and Access Act of 2007
The Dept of Education is using an existing program. They made a few changes to the guidelines, and suddenly tens of thousands of people have their loan debt erased.
Posted on 4/19/22 at 4:46 pm to udtiger
quote:
Mind you, she has a job paying $90k+ per year.
She will be paying that student loan back just like the rest of us did.
Posted on 4/19/22 at 4:47 pm to Ghost of Colby
Did t impact me, don't care...
Another of these are at for profit colleges like University of Phoenix
Another of these are at for profit colleges like University of Phoenix
Posted on 4/19/22 at 4:47 pm to Chucktown_Badger
quote:
What are those failures?
At this point, I would say the entire student loan system is a failure. Everything from parents and counselors not helping the 18 year olds, the 18 year olds signing loans they don't understand, the easy ability of the loans driving tuition prices ever higher, the servicers doing shady things during repayment, kids borrowing money for BS degrees or not even finishing their degree, etc.
The entire system is broken. It's all a failure.
Posted on 4/19/22 at 4:47 pm to FLBooGoTigs1
Student loan forgiveness really grinds my gears more than most welfare programs. It does nothing to prevent the problem in the future and sets the precedent that the government will bail out students again and again in the future. It does nothing to curtail the outrageous cost of college today or in the future and it does nothing to educate students on degree programs early into their college years. All college freshmen are dumb. Even the smartest ones are dumb as hell. I think a course centered around degree program expectations after college should be required in the first year. But no, frick all that nonsense. Let’s just continue to forgive all these loans and keep these students reliant upon the government to pay back their loans.
Holy shite, I just realized student loan forgiveness is yet another way to keep college educated whites poor and dependent upon democrats.
Holy shite, I just realized student loan forgiveness is yet another way to keep college educated whites poor and dependent upon democrats.
Posted on 4/19/22 at 4:51 pm to TDsngumbo
quote:
It does nothing to prevent the problem in the future and sets the precedent that the government will bail out students again and again in the future. It does nothing to curtail the outrageous cost of college today or in the future and it does nothing to educate students on degree programs early into their college years.
So you are saying it's like every other bailout the feds have done?
Posted on 4/19/22 at 4:53 pm to Ghost of Colby
I actually would've qualified under PSLF but it wasn't worth dragging my loans out another five years beyond when I was projected to pay them off for relatively minimal benefit.
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