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Started By
Message
re: Many student loan borrowers are in for a big, bad surprise in 2025
Posted on 12/10/24 at 11:36 am to Joshjrn
Posted on 12/10/24 at 11:36 am to Joshjrn
quote:
In fairness, it almost existed, at least a little bit. Biden attempted a blanket, what, $25k worth of forgiveness? Which got shot down by the courts.
It was 10k and the plaintiffs in that case (or one of them) received PPP loans, for which they were forgiven and didn't have to pay back
1
Posted on 12/10/24 at 11:38 am to JohnnyKilroy
quote:
It wasn't free. They had to pay some portion of their (below market) income for 10 years.
This post was edited on 12/10/24 at 12:00 pm
Posted on 12/10/24 at 11:42 am to JohnnyKilroy
quote:
It was 10k and the plaintiffs in that case (or one of them) received PPP loans, for which they were forgiven and didn't have to pay back
That was a known condition in the terms of the PPP loans. There are no such terms of forgiveness in most student loans.
Posted on 12/10/24 at 11:43 am to jizzle6609
quote:
While I understand and feel for these folks because I do not enjoy watching people struggle, they should've done research while in university which would've shown them the bleak outlook for their career choice. Like the OP said, many of these degrees are pretty useless.
I can't tell if you are just trolling now or are really just low iq lol.
You're making this out like these people got worthless degrees and have now "lucked" into having their debt forgiven. That is NOT what is happening. These people by and large chose to FOREGO a higher salary in the private sector in exchange for SOME of the debt being forgiven. They went INTO their loans knowing that was the path they were choosing.
Posted on 12/10/24 at 11:44 am to DakIsNoLB
quote:
There are no such terms of forgiveness in most student loans.
Posted on 12/10/24 at 11:45 am to jizzle6609
quote:
While I understand and feel for these folks because I do not enjoy watching people struggle, they should've done research while in university which would've shown them the bleak outlook for their career choice. Like the OP said, many of these degrees are pretty useless.
A lot of us went to school, did you not think about the salary outlook of the field you were in? I find that very hard to believe.
The example of messing around and having all debt erased is an exaggeration to whats actually happening, I agree.
In the same time these folks paid on this loan Im sure they bought cars and houses. They shouldve paid off the student debt first.
Again, just my opinion.
You do understand that without PSLF, that many public sector jobs that require a degree (such as teaching) will likely be left without quality personnel because you're removing a major incentive for them to be in those jobs to begin with right? Community mental health is a great example of this. No one wants to do CMH, where some of the hardest cases to treat are but do it despite the shitty pay because they will eventually have their student loans forgiven. It's not some "handout". And these are jobs that from a societal perspective NEED to be filled.
Unless you plan to increase their salaries in the public sector, you're really only hurting yourself by getting rid of PSLF all together.
This post was edited on 12/10/24 at 11:47 am
Posted on 12/10/24 at 11:47 am to bradygolf98
After reading the article and the first page of the thread, I have a legitimate question: Has anyone ever seen an analysis of the student loans in default (or student loans in general) in regards to the degree (Associate, Bachelor, Master, PhD, etc) and the area of study/major (biology, education, engineering, international gender studies, etc)? I have some preconceived notions, but I'm curious about the actual findings.
Posted on 12/10/24 at 11:48 am to JohnnyKilroy
quote:
I can't tell if you are just trolling now or are really just low iq lol.
Extremely low iq.
Posted on 12/10/24 at 11:48 am to DakIsNoLB
quote:
It wasn't until the 2008 recession that I realized my parents didn't know what they were doing; they could have but didn't have any emergency savings.
Sounds like my parents.
Posted on 12/10/24 at 11:51 am to FearTheFish
quote:
Baw, he can't do that.
Why?
The dumbasses begging for loan forgiveness arent Trump voters
Posted on 12/10/24 at 11:53 am to KillTheGophers
quote:
Nursing
Medical school
Architecture
Engineering
Accounting
Dental school
Teacher
Vet school
Any stem related degrees
If not one of those degrees, then government backed student loans should not be in the equation.
FIFY
Posted on 12/10/24 at 11:56 am to JohnnyKilroy
quote:
I can't tell if you are just trolling now or are really just low iq lol.
You're making this out like these people got worthless degrees and have now "lucked" into having their debt forgiven. That is NOT what is happening. These people by and large chose to FOREGO a higher salary in the private sector in exchange for SOME of the debt being forgiven. They went INTO their loans knowing that was the path they were choosing.
This post was edited on 12/10/24 at 12:01 pm
Posted on 12/10/24 at 11:57 am to Joshjrn
quote:
Separate and apart from whether it's a good idea, what makes it "special" is that it's owed to the federal government and can simply be written off, while everything else you listed (with a few small exceptions) is owed to private entities and would either be an unconstitutional taking or would have to actually be paid for by the taxpayer.
OK. Good. That makes Trump’s effort to cut taxes even easier. All he has to do is put pen to paper and none of us will owe any federal income taxes. He can just write them off.
Posted on 12/10/24 at 11:57 am to BluegrassBelle
quote:
Unless you plan to increase their salaries in the public sector, you're really only hurting yourself by getting rid of PSLF all together.
Not if your kids attend private schools.
Just saying.
Posted on 12/10/24 at 11:59 am to Darth_Vader
quote:
OK. Good. That makes Trump’s effort to cut taxes even easier. All he has to do is put pen to paper and none of us will owe any federal income taxes. He can just write them off.
And if Congress passes legislation giving him that discretionary authority, sure. The big fight regarding forgiveness is whether the discretionary authority to forgive some student loans has already been given by Congress. Glad we’re now all in the same page, though
This post was edited on 12/10/24 at 12:00 pm
Posted on 12/10/24 at 12:00 pm to BluegrassBelle
quote:
You do understand that without PSLF, that many public sector jobs that require a degree (such as teaching) will likely be left without quality personnel because you're removing a major incentive for them to be in those jobs to begin with right? Community mental health is a great example of this. No one wants to do CMH, where some of the hardest cases to treat are but do it despite the shitty pay because they will eventually have their student loans forgiven. It's not some "handout". And these are jobs that from a societal perspective NEED to be filled.
Unless you plan to increase their salaries in the public sector, you're really only hurting yourself by getting rid of PSLF all together.
I did not know this and it makes much more sense now.
Posted on 12/10/24 at 12:00 pm to jizzle6609
quote:
Not if your kids attend private schools. Just saying.
As long as the loans come from the federal government, you can still have loans for private universities forgiven under PSLF.
This post was edited on 12/10/24 at 12:01 pm
Posted on 12/10/24 at 12:01 pm to JohnnyKilroy
quote:
Going through PSLF is paying the debt you agreed to pay. They are being "rewarded' for doing exactly what they agreed to do when they took out the loan.
You are correct, I am wrong.
Posted on 12/10/24 at 12:02 pm to jizzle6609
quote:
I do not support anything that grows our government or its control. All this program did was flood the government, primarily, with individuals who most likely wouldn't have made it in the private sector.
Your Kamala Harris types.
No brag, just facts.
I'll let all the doctors and nurses serving rural communities that would otherwise be shite out of luck know they couldn't hack it in the city.
Posted on 12/10/24 at 12:11 pm to bradygolf98
quote:
Here's a novel idea, pay off the money you borrowed
So many have repaid the principle and more over decades but are still paying and paying. I funded a college fund for my three and have no skin in this game, but I do what to point out how incredibly many were fricked by a government scheme to direct students to predatory companies.
In simpler terms, I'm all for personal responsibility AND giving a big FU to a system designed by the State, crappy Universities wanting to send tuition through the roof and shitty predatory lenders.
Those unable to entertain competing ideas may downvote now.
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