re: Reports indicate that the White House may extend the freeze on student loan payments again

It truly amazes me how anyone can vote for a Democrat anymore. There has to be some serious mental impairment to look at that bumbling old dementia patient and say, "i'm so proud this guy is the leader of the free world. I want more of that!".

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Might as well invest more money in the meantime and wait to see what happens.

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Of the deferment crown, you may have 1-5% of that group that is going to invest that money.

I never got confirmation but this is believed to be a case of her developing schizophrenia in her 20s and going off the deep end. It happens and it isn’t necessarily predictable.

My two coppers…

I came out of school debt free. I married a wonderful woman who went to PT school and graduated with 204k. So now WE have 204k in loans. I’m thankful that we have two incomes to chip away at this though because I couldn’t imagine her trying to pay them on her own. It’s a shame we put people in some of the most important jobs - like medical professionals and lawyers - in such a hole financially. I’m thankful for the interest pause, we have been stashing away our payments into a savings account just in case forgiveness is given and if not we can make a big lump sum right before they resume. I think forgiveness would help stimulate the economy as folks would have more disposable income, especially as this is mostly a problem with people 22-40ish and are people who do a lot of spending in this country. We want to buy homes, start families, engage in the world. As the older generation ages away, we need people to carry the economy. But on the other hand there are people who have put in the hard work to pay off their loans or get by without them.

I don’t know if there is a solution that will satisfy everyone. Forgiveness would not be fair for those who have paid off student loans or avoided them altogether. But I also don’t think it’s fair to take advantage of 18-22 year old kids whose brains haven’t fully developed and just want to build a good future for themselves and family, not realizing they’re putting their future in a hole. Most four year universities are too expensive to pay your way through now, and graduate/further education is very expensive on top of that. I think that is ultimately where the issue is - the ridiculous rise of education costs - but I don’t know how they can fix that.

100% forgiveness is absurd. Maybe keeping interest paused for one more periods, then resuming at a flat 1% and maybe a forgiveness of 10% or something would be tolerated by both sides. I’m just glad I’m not in charge.

Anyway I’m done ranting now. I see both sides.

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I work for the government, I’m free after 120 payments. I’m about half way there.

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Also a public employee. Attempted to get on PSFL program years ago but it was complete bullshite.

Kept paying and intended to do so through full payment.

Heard Dept of Ed was allowing a temporary PSFL program that actually does something for people who make over $30,000 and don't live in their parents' basement.

Applied and they erased my loan debt (over $20,000). I already made ten years worth of full payments. Was shocked it worked.

This is Dept of Education, not a private entity, so I don't feel bad about it.

As for people who didnt take out loans or already paid off, I understand your anger but if Louisiana started the TOPS program when I was in high school applying to LSU, I would not have had to take out loans for my undergrad anyway.

What you're feeling is pretty much what I felt when they started TOPS in late 90s. If it came out a few years earlier, I would have been debt free or really low debt coming out of college.

Didnt demand forgiveness and was willing to continue to pay but when given a chance to eliminate that much debt in these economic times.... I doubt any of you wouldnt take it.

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Can we do that with mortgages and car payments, and other things people are buying and agreeing to?

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The student loans affected would be the ones directly owed to the federal government. Does not include private loans from banks or other lenders.

A completely different animal.

We know Brandon won't do it, but if there is a largescale forgiveness plan, the Dept of Ed needs to be scaled down and future student loans should have appropriate underwriting.

They'll probably cancel them next month right after I make my last payment.

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Those are great points but I mean people with larger loan balances not necessarily people who don't really owe that much. It's different philosophies but I rather not be strapped with a quarter of a million dollar loan than keep it an additional 2 years because I haven't made payments.

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It still makes no sense to pay down the debt during the pause.

Invest your regular payment instead. Then when the pause ends, lump sum it. You’re in the same position you’d be in if you never stopped paying AND you would have gains.

Student loans are theft.