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Started By
Message
re: U.S. poised to forgive $108 billion in student debt
Posted on 11/30/16 at 1:45 pm to RLDSC FAN
Posted on 11/30/16 at 1:45 pm to RLDSC FAN
While it's easy for us OT ballers to complain, I'm not entirely against it. Saddling a huge chunk of young people with years of crushing debt is not good for the economy or anyone.
Eventually "learning a lesson" just becomes cruel and unusual.
Eventually "learning a lesson" just becomes cruel and unusual.
0
Posted on 11/30/16 at 1:46 pm to rocket31
quote:
Boomers caused the mess, dumbass
Just fricking bullshite. I hate using that word.
I'm a boomer that put myself thru school and then paid for both of my kids ways thru school. So, frick OFF. 
Posted on 11/30/16 at 1:47 pm to Breesus
No, just stuff I see as pointless
Posted on 11/30/16 at 1:50 pm to fishfighter
.This discussion is above your paygrade, gramps.
Posted on 11/30/16 at 1:52 pm to whodatdude
quote:
For example: The bill for the first set of Public Service Loan Forgiveness borrowers will come due next year and currently there is no cap. So, someone under PSLF who has 100k in loans and has paid 40k could potentially have 60k forgiven. Once the govt has to forgive those balances and sees how much it will cost them, they'll likely put a cap on how much can be forgiven under each program.
When I was working for a public school system, one of my coworkers was accruing time toward this forgiveness option. Somehow her repayment plan required her to pay $0 each month for her college loans. Best I could tell it is because her husband owns his own business, so their tax income is extremely low and the approved repayment plans are tied to that income. Every month also counted as one of the 120 needed months of public service under the PSLF plan. She is nearing the 10 years of service threshold, so she will likely get over 90% of her college loans forgiven under PSLF.
I started down the PSLF road, but basically had to start at month 0 after already having paid on my loans for 3-4 years because I was on a standard repayment plan. Apparently paying full price while working in public service doesn't count as public service.
This post was edited on 11/30/16 at 1:57 pm
Posted on 11/30/16 at 2:00 pm to RLDSC FAN
quote:
under income-driven repayment plans
Another way to screw the middle class. We'll give loan forgiveness for the guy making 30K a year but we're going to squeeze the frick out of the guy making 70K a year. They give no incentive to work hard anymore.
Posted on 11/30/16 at 2:03 pm to oauron
quote:
The goal of a public university is to educate and develop its populace. It is not and should not be a factory to produce only high income earning jobs after school. it's part of a non-profit service to the people of the state first.
The goal is to produce people who are capable of getting a job that contributes to the betterment of the society, not to educate people in a field that leads them to being an unskilled barista.
This post was edited on 11/30/16 at 2:16 pm
Posted on 11/30/16 at 2:04 pm to Hammertime
quote:
So I should've taken out student loans instead of paying cash? Well I'm an idiot
No you aren't. Neither are people that busted their tail to pay off their loans.
Posted on 11/30/16 at 2:04 pm to oauron
quote:
The goal of a public university is to educate and develop its populace. It is not and should not be a factory to produce only high income earning jobs after school. it's part of a non-profit service to the people of the state first.
The populace of Cuba agrees with you.
Posted on 11/30/16 at 2:06 pm to fishfighter
And then you instituted a bunch of policies that made it nigh impossible for this generation to do the same.
Posted on 11/30/16 at 2:07 pm to hombreman9
quote:
bailing out boomer pensions, social security and Medicare. You are winning.
Pensions were around long before Boomers as was Social Security. Medicare was enacted when the oldest Boomers were in their early 20's. Can't blame the above on Baby Boomers.
Posted on 11/30/16 at 2:11 pm to imjustafatkid
Our child attended one of the Universities that has caught the ire of certification bodies and since closed. We spent a lot of money for him to attend, in loans, and that is on US.
What is not on US was the University's fraudulent behavior as well as holding itself out as one thing and being another.
We have applied for the return of our hard earned monies to the DofE as it rightfully belongs to US. We acted in good faith, paid off all the loans but were never going to realize a reasonable education for our child. We have two other children and have paid their way as well. This University basically stole from US under false pretense and ought to be held responsible....as should any other individual or entity
What is not on US was the University's fraudulent behavior as well as holding itself out as one thing and being another.
We have applied for the return of our hard earned monies to the DofE as it rightfully belongs to US. We acted in good faith, paid off all the loans but were never going to realize a reasonable education for our child. We have two other children and have paid their way as well. This University basically stole from US under false pretense and ought to be held responsible....as should any other individual or entity
This post was edited on 11/30/16 at 2:14 pm
Posted on 11/30/16 at 2:13 pm to wfallstiger
quote:
We have applied for the return of our hard earned monies to the DofE as it rightfully belongs to US. We acted in good faith, paid off all the loans but were never going to realize a reasonable education for our child. We have two other children and have paid their way as well. This University basically stole for US under false pretense and ought to be held responsible.
OK? What does that have to do with college loan forgiveness?
Posted on 11/30/16 at 2:14 pm to Steadyhands
quote:
So make it private with some regulations so that loan interest is done like it is now...deferrable, lower rates, etc.
That's fine. That creates a private market where people have to compete. The government monopoly deciding which degrees are worth it.
Posted on 11/30/16 at 2:16 pm to imjustafatkid
Is part of what is driving this larger initiative. The cottage industry, called Higher Education, is finally being called out and rightfully so...is out of control...it is the next dot.com
Is the same thing, difference being we paid off the loans and there is a growing list of schools making the hit list
Is the same thing, difference being we paid off the loans and there is a growing list of schools making the hit list
This post was edited on 11/30/16 at 2:19 pm
Posted on 11/30/16 at 2:19 pm to dewster
quote:
quote:So I should've taken out student loans instead of paying cash? Well I'm an idiot
No you aren't. Neither are people that busted their tail to pay off their loans.
But the people who used the system put in place by your government are? The ones that had original loan balance of 50k, by the time they get 20k forgiven, but had already actually paid 60k or more in payments, these are the idiots?
Most of the people chatting in here seem to think people are just being relieved of their debt, and that is not true.
Posted on 11/30/16 at 2:20 pm to Steadyhands
The lack of understanding of PSLF has been hilarious here.
Posted on 11/30/16 at 2:28 pm to CorporateTiger
quote:
The lack of understanding of PSLF has been hilarious here.
Well I agree with you on that, but when did this post become solely about PSLF? I have been primarily discussing IDR plans (Income-Driven Repayment plans)
Posted on 11/30/16 at 2:31 pm to Steadyhands
Because that's a big portion of the forgiveness. Plus IBR and PLSF often go hand in hand.
Posted on 11/30/16 at 2:32 pm to imjustafatkid
quote:
When I was working for a public school system, one of my coworkers was accruing time toward this forgiveness option. Somehow her repayment plan required her to pay $0 each month for her college loans. Best I could tell it is because her husband owns his own business, so their tax income is extremely low and the approved repayment plans are tied to that income. Every month also counted as one of the 120 needed months of public service under the PSLF plan. She is nearing the 10 years of service threshold, so she will likely get over 90% of her college loans forgiven under PSLF.
This was me for my first 2 years at my public job due to when I started. I was paying roughly $18/month. It has since skyrocketed to $300.
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