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Message
re: Student Loan Extended (Again)!
Posted on 4/5/22 at 6:58 pm to GreatLakesTiger24
Posted on 4/5/22 at 6:58 pm to GreatLakesTiger24
quote:
this is retarded. the agreement is not being broken.
its poor character to act entirely within the bounds of something you agreed to!
smh
0
Posted on 4/5/22 at 6:59 pm to BOZ4LSU
Just an easier way for higher education to keep charging whatever they want with little to no recourse.
Posted on 4/5/22 at 7:01 pm to Play_Neck
quote:
If you couldn't afford your education with the job you got--tough shite.
What an incredibly naive statement.
Posted on 4/5/22 at 7:05 pm to Tortious
quote:
Try 7.63%.
Try my 10.5 grad school
Our PT school was private and we couldn’t get federal loans.
It was basically impossible to pay off with our earning potential
I learned a lot about interest really quick. We took out a 90k loan on my wife’s place that she was living in, slashed it to 4% and knocked it out in 2 years doing traveling PT.
No clue how I would’ve paid it off at that original rate.
This post was edited on 4/5/22 at 7:10 pm
Posted on 4/5/22 at 7:05 pm to St Augustine
quote:
Try my 10.5
Ouch
Posted on 4/5/22 at 7:06 pm to TheAlmightySmash
quote:
My only gripe with student loan debt is that charging 3-4% seems predatory
I have one at 8%. Most are higher than 3/4%
Student loans are designed to take advantage of kids that don’t know any better and lock them into debt for years.
This post was edited on 4/5/22 at 7:07 pm
Posted on 4/5/22 at 7:08 pm to BOZ4LSU
Bash all you want but PPP loans and Student Loan Forgiveness both have the same goal, to stimulate the economy and prevent people from being in financial hardships. Saying that businesses with two employees deserve $100k+ in PPP "Loans" forgiven but Bobby needs to pay his $50k Federal loan at an 8% Interest rate cause he wants to be a Teacher is absurd... "Business" owners would b*tch and moan if Biden had y'all pay those loans back at 0% let alone 8% like Federal Student Loans, but one is beneficial to older adults and the other isn't. That's the difference.
Posted on 4/5/22 at 7:08 pm to theOG
quote:
Are you suggesting that people should make payments on their loans even though they are not being currently asked to do so?
I highly suggest you do but everyone's financial situation is different. With interest frozen, everything you pay is 100% principal.
My situation: started $140,000 in student loans out of grad school (Dec2019) . Been paying monthly ever since even at start of COVID. Just hit $50,000 this month.
I feel like with this amount it gets really interesting. Biden said he would forgive $10,000 and other are calling for $50,000 is forgiveness. I also have SLRP from the Army which STILL has not kicked in from my first eligible payment from last April. Army will reimburse ~$35,000.
So as it stands, hypothetically I could receive ~$45K in forgiveness. Kinda feel like I should cool it on my payments until we get some concrete news on just how much Biden plans on erasing if any at all.
Posted on 4/5/22 at 7:11 pm to St Augustine
quote:
St Augustine
quote:
Try my 10.5 grad school
That's crazy! My highest was 7% coming out of grad school (I'm a PT as well)
I remember awhile ago I asked about travel destinations. Doing travel PT myself to payoff these loans.
Posted on 4/5/22 at 7:13 pm to BOZ4LSU
quote:
Doing travel PT myself to payoff these loans.
Whenever you think you’re done, do one more to save a little extra. My wife and I kick ourselves all the time for not doing it an extra year.
Posted on 4/5/22 at 7:14 pm to BOZ4LSU
quote:i think the savvy move is save the money you would be paying and make the big payment right before the moratorium ends. i think forgiveness of any kind is very unlikely but it would be silly to miss out on 10-50k
I highly suggest you do but everyone's financial situation is different.
Posted on 4/5/22 at 7:15 pm to BOZ4LSU
pay your bills slackard.
Posted on 4/5/22 at 7:17 pm to Armymann50
quote:
pay your bills slackard.
Put more than my fair share in. Time for the Army to pony up
Posted on 4/5/22 at 7:20 pm to GreatLakesTiger24
If you're on any kind of income based repayment plan and/or PSLF you should absolutely make zero payments during this time.
The months of non-payment are counting towards forgiveness in all programs 10/20/25 years and your payment amount is based on income, not outstanding balance. Some math may be involved for specific situations, but for the most part, nope.
The months of non-payment are counting towards forgiveness in all programs 10/20/25 years and your payment amount is based on income, not outstanding balance. Some math may be involved for specific situations, but for the most part, nope.
This post was edited on 4/5/22 at 7:22 pm
Posted on 4/5/22 at 7:21 pm to Spankum
quote:
While he is at it, I hope he reimburses me the $50K that I owed when I graduated from LSU some 30 years ago….
Were you in undergrad 30 years?
Posted on 4/5/22 at 7:28 pm to 777Tiger
quote:
still speaks to character, he signed an agreement, the government(taxpayers,) came through but now he has "better use" for the money than repaying his debt
fricking lmao
You wouldn’t pay back your loan early either if you didn’t have to. Interest is paused too on these no less. It doesn’t affect you whatsoever if loan payments are postponed, you’re just looking to be triggered
Posted on 4/5/22 at 7:30 pm to TheAlmightySmash
quote:
My only gripe with student loan debt is that charging 3-4% seems predatory.
Mine were at 6.8%. Finished paying them off during this freeze.
fricking nightmare. I wish I could go back and slap 18 year old me. I realize the benefits in not paying, but it feels great to have shitty debt gone.
This post was edited on 4/5/22 at 7:32 pm
Posted on 4/5/22 at 7:54 pm to 50_Tiger
quote:Businesses everywhere are hiring because they can’t get enough workers. No reason to keep pausing student loans this long
until the economy recovers
Posted on 4/5/22 at 8:02 pm to BOZ4LSU
My wife is a PT so I feel for y’all. The loans we have for her schooling are around 6% so I feel like that’s a steal now lol. The earning potential for PTs, at least where we live, is annoyingly low relative to the cost of education. Frustrating. Im very thankful for these pauses!
Posted on 4/5/22 at 8:04 pm to 777Tiger
quote:
Sure hope he didn’t get a lib arts degree for over 200k in student loans
Why does it matter what degree? I’ve paid 1700+ a month for almost 10 years that I could afford. I paid 55k in interest already. Do you think I couldn’t afford that? I knew what I signed up for. I chose to take advantage of the break finally, I had continued payments since Covid started this whole time. The agreement is I can pay when or if I want now with 0% interest and no penalty. I am just now choosing to take advantage of that and suspend payments to other areas that could benefit my family for now. The day it ends, I will restart payments as usual until my debt is paid off. Nothing has been forgiven, it’s just delayed
This post was edited on 4/5/22 at 8:14 pm
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