re: Many student loan borrowers are in for a big, bad surprise in 2025

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PSLF was so botched during implementation that I found it easier to pay off my loans early (which was during Trump's first term).

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That's actually something that I think some "anti-loan forgiveness" people missed. The DOE under Trump (the first administration that would have had people hitting the ten year mark from program creation) was absolutely atrocious at handling these applications and were either negligently or intentionally fricking people over. That's why, as comical as it is for Biden to take credit for forgiveness under PSLF, there's at least a kernel of truth to it.

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Here's a novel idea, pay off the money you borrowed

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Here’s another novel idea: have better systems in place to guide students realistically as to what they’re getting into by taking out these loans

I consider myself fairly intelligent, and I am paying back my college and dental school loans, but I’ll be honest, I had no idea the monthly financial burden that would put on me and my family. Maybe that falls on my parents for not better explaining, or myself for not seeking more information when taking the loans out (focused on exams, etc at the time and all of the loan stuff was foreign to me and seemed secondary in priority at the time). Or maybe we didn’t get enough financial and business acumen in high school. Whatever it is, I have a good career and it is stressful as hell for me. Can’t imagine the ones who took out huge loans to get a history degree.

All that said, MAGA

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I don't understand outright forging loans even if you think it's a good thing. A

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its not, its a terrible thing.

You are rewarding the wrong people. People should not get a reward for doing wrong especially when a large portion of those did not graduate on time.

Its complete bullshite and why I for one will not feel bad for anyone when the shite hits the fan and a correction heads our way.

I am ready and quite honestly I think people need to be put back in their places in a financial sense.

Just my two cents.

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its not, its a terrible thing.

You are rewarding the wrong people. People should not get a reward for doing wrong

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Who are these wrong people and what is "wrong" about what they are doing?

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Biden just announced today that as part of his last 40 days he is going to forgive more loans in January

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He's not forgiving shite, he's sacking hardworking americans with the bill

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PSLF was so botched during implementation that I found it easier to pay off my loans early (which was during Trump's first term).

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Yeah it was a hot mess. It’s better now but still has issues.

My wife’s loans had 42 payments to go when the legal challenge to the SAVE repayment plan happened this summer and put us in administrative forbearance.

Allegedly, everyone’s qualified months of service will still count during this forbearance period (however long it is) and we’ll be able to make a lump sum payment at the end for all the payments we’re not making, but it’s such a PITA keeping up with all of this. Every year something changes and we need to react to it.

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He's not forgiving shite, he's sacking hardworking americans with the bill

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I appreciate that this is primarily semantics, but this isn't technically accurate. The only loans being forgiven are held by the federal government. Now, one can semantically argue that anything that effects the federal ledger is "paid for" by "hardworking Americans", but then so is every tax deduction, just as one example. But these loans are simply being written off by the federal government; no one has to pay anything when that happens. All of the loan servicers you read about challenging forgiveness are challenging on the idea that this deprives them of fees as the loan servicer, not that they are losing anything on the loans themselves.

Restarting payments but not forcing people to resume paying last year was such a terrible idea. All it did was let interest pile up even further these people will be paying on these loans for their entire life

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Yeah it was a hot mess. It’s better now but still has issues.

My wife’s loans had 42 payments to go when the legal challenge to the SAVE repayment plan happened this summer and put us in administrative forbearance.

Allegedly, everyone’s qualified months of service will still count during this forbearance period (however long it is) and we’ll be able to make a lump sum payment at the end for all the payments we’re not making, but it’s such a PITA keeping up with all of this. Every year something changes and we need to react to it.

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This is actually my one concern with the incoming Trump administration. One good thing the Biden admin instituted was the "PSLF buyback" program, which is what you're referring to. There's really nothing stopping Trump from killing that and fricking over tons of people who would have happily continued making on time payments over the last few months if it were possible.

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There's really nothing stopping Trump from killing that and fricking over tons of people who would have happily continued making on time payments over the last few months if it were possible.

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You’re 100% correct, this is the exact spot we were in. We were cruising along to 120 and someone slammed on the brakes.

I wonder at least a few times a month if we just need to jump to a different plan that hasn’t been challenged….but I’m going to kick myself if the SAVE plan somehow survives. I think we’re going to sit tight and hope the buyback is honored whether SAVE survives or not.