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Started By
Message
re: Brandon: Student Loan Pause to end 12/31/22, Payments to be capped at 5% monthly income
Posted on 8/24/22 at 11:09 am to waiting4saturday
Posted on 8/24/22 at 11:09 am to waiting4saturday
quote:
Cap re-payments at 5% of your income but that interest is going to be racking up.
This plan is almost brilliant. For most people the upfront reduction will be counteracted by long term interest accrual.
3
Posted on 8/24/22 at 11:11 am to joshnorris14
Finally getting them reparations!!!!
Posted on 8/24/22 at 11:13 am to Houag80
Unreal - Who else wants a refund of their payments?
Posted on 8/24/22 at 11:15 am to joshnorris14
quote:The struggle is real!
Payments to be capped at 5% monthly income
Posted on 8/24/22 at 11:16 am to JKLazurus
Dems buying votes. I doubt if it helps. When Trump goes back in the Oval office he should issue an executive order that requires a forensic audit on every member of Congress.
Posted on 8/24/22 at 11:20 am to joshnorris14
We might as well have a monarchy. How does one person decide on this? Executive order?
We really need to do away with those. You shouldn’t be able to bypass Congress.
We really need to do away with those. You shouldn’t be able to bypass Congress.
quote:
An executive order is declaration by the president or a governor which has the force of law, usually based on existing statutory powers. They do not require any action by the Congress or state legislature to take effect, and the legislature cannot overturn them.
Posted on 8/24/22 at 11:21 am to sawtooth
quote:
This plan is almost brilliant. For most people the upfront reduction will be counteracted by long term interest accrual.
THIS RIGHT HERE
Posted on 8/24/22 at 11:21 am to joshnorris14
Joe literally said he would cancel all student loans lol
Posted on 8/24/22 at 11:23 am to ksayetiger
quote:
Wait- what is cap for NON-undergrad loans?
10% I believe
Posted on 8/24/22 at 11:23 am to JKLazurus
quote:
For most people the upfront reduction will be counteracted by long term interest accrual.
They will never pay that interest accrual though. The Dems will continue to use and dangle this carrot every election now and keep forgiving debt in perpetuity
Posted on 8/24/22 at 11:24 am to joshnorris14
$30 trillion in debt and growing.
quote:
The plan will cost between $300 billion and $980 billion over 10 years, while the majority of relief will go to borrowers in the top 60% of earners according to an analysis by Penn Wharton.
Posted on 8/24/22 at 11:30 am to waiting4saturday
quote:I know nothing about student loans but I have heard from people that do have them, it's like a house mortgage that at the start, most of your payment goes towards interest and not the principle. Is that close?
Cap re-payments at 5% of your income but that interest is going to be racking up.
Never had one until now, since I guess I get to pay it off for the deadbeats.
Posted on 8/24/22 at 11:31 am to joshnorris14
Mid terms coming up. Gotta feed the base this bullshite to keep them from swapping sides.
Posted on 8/24/22 at 11:31 am to ETxTgr
quote:
THIS RIGHT HERE
Quite the nefarious way to create a new slave class.
Bravo lefties. You're all fricked now
Posted on 8/24/22 at 11:35 am to JKLazurus
quote:Let's be honest, most student loan borrowers can't even understand the basics of "I took some money, I need to give it back" much less an amortization loan balances.
This plan is almost brilliant. For most people the upfront reduction will be counteracted by long term interest accrual.
Posted on 8/24/22 at 11:38 am to Diamondawg
quote:
I know nothing about student loans but I have heard from people that do have them, it's like a house mortgage that at the start, most of your payment goes towards interest and not the principle. Is that close?
Every media human interest story focuses on people that have six figure debts after decades of paying their minimum balance. Lowering minimum payments just turns college degrees into rent-a-center financing.
Posted on 8/24/22 at 11:39 am to joshnorris14
Let me know when this actually happens. But in reality it's just for the stupid voters to think this is going to happen. Dims love to give away other people's money.
Posted on 8/24/22 at 11:40 am to joshnorris14
Net worth just went up by 10k. Weep boomers 
Posted on 8/24/22 at 11:40 am to joshnorris14
So now not only do I pay off my loans for my two boys, I pay for some other kids too! Great! 
Posted on 8/24/22 at 11:49 am to joshnorris14
Again, so frick you if you decide to take your degree and do something with it.
Edit: I also made nowhere near what I make now when I graduated 15 years ago. Again, frick me for being responsible and paying on my loans.
Edit: I also made nowhere near what I make now when I graduated 15 years ago. Again, frick me for being responsible and paying on my loans.
This post was edited on 8/24/22 at 11:51 am
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