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Student loan repayments set to start back up February 1st

Posted on 1/19/21 at 2:34 pm
Posted by frankthetank
Member since Oct 2007
2301 posts
Posted on 1/19/21 at 2:34 pm
Just an FYI. Why does Biden hate poor people?
Posted by oldskule
Down South
Member since Mar 2016
15476 posts
Posted on 1/19/21 at 2:35 pm to
But he loves their consistent vote.....
Posted by Pelican fan99
Lafayette, Louisiana
Member since Jun 2013
34638 posts
Posted on 1/19/21 at 2:35 pm to
I'm sure it will get extended again. Can't have people actually having to be responsible
Posted by squid_hunt
Baton Rouge
Member since Jan 2021
11272 posts
Posted on 1/19/21 at 2:35 pm to
You misspelled short-sighted grifters.
Posted by Oates Mustache
Member since Oct 2011
22046 posts
Posted on 1/19/21 at 2:36 pm to
Not a chance that isn't extended.
Posted by sawtooth
Baton Rouge
Member since Jul 2017
3588 posts
Posted on 1/19/21 at 2:37 pm to
I bet he excuses/reduces their loans. The government should have never gotten into the loan business. We will have to bail them out as well with money we do not have.

Student debt is a big issue in the 2020 presidential campaign for an obvious reason: There’s a lot of it—about $1.5 trillion, up from $250 billion in 2004.
This post was edited on 1/19/21 at 2:40 pm
Posted by Lima Whiskey
Member since Apr 2013
19084 posts
Posted on 1/19/21 at 2:37 pm to
I believe they’ve already promised to extend them.
Posted by LSURep864
Moscow, Idaho
Member since Nov 2007
10906 posts
Posted on 1/19/21 at 2:37 pm to
Already said a day one EO extension happens
Posted by Pettifogger
Capitol Hill Autonomous Zone
Member since Feb 2012
79098 posts
Posted on 1/19/21 at 2:41 pm to
Each borrower under a certain threshold will be paired with another borrower over a certain threshold. Sort of like a mentor program. The mentor pays both loans.

Posted by hogcard1964
Illinois
Member since Jan 2017
10362 posts
Posted on 1/19/21 at 2:42 pm to
I thought Pedo Joe was eliminating all college debt?

What changed, other than election results?
Posted by Tiguar
Montana
Member since Mar 2012
33131 posts
Posted on 1/19/21 at 2:48 pm to
Biden already said he’s doing this via EO
Posted by Ancient Astronaut
Member since May 2015
32909 posts
Posted on 1/19/21 at 2:53 pm to
This will keep getting extended for eternity. No president is gonna want to be that guy.
Posted by hogcard1964
Illinois
Member since Jan 2017
10362 posts
Posted on 1/19/21 at 2:54 pm to
When's all student debt being eliminated?
Posted by Ancient Astronaut
Member since May 2015
32909 posts
Posted on 1/19/21 at 2:55 pm to
It essentially has been without reform of any kind.
Posted by Hoodie
Donaldsonville, LA
Member since Dec 2019
2986 posts
Posted on 1/19/21 at 2:57 pm to
It's difficult to feel too badly about student loan debt being canceled or deferred since it's Biden, his ilk and the government itself that crippled the job-market via championing coronavirus lockdowns and restrictions.
Posted by geauxturbo
Baton Rouge
Member since Aug 2007
4162 posts
Posted on 1/19/21 at 3:06 pm to
Did this extension allow interest free deferment? If not, you can screw yourself without an EO and defer your loan all on your lonesome.
Posted by Weekend Warrior79
Member since Aug 2014
16276 posts
Posted on 1/19/21 at 3:07 pm to
Last I heard it was up to $10k. Don't know if that is all Student Loan Debt, or just the ones still w Fed. Have not seen what happens to those that refinanced with private companies, or took out private loans.
Posted by Loup
Ferriday
Member since Apr 2019
11193 posts
Posted on 1/19/21 at 3:10 pm to
glad I got to pay back a good chunk of mine interest free for a bit.
Posted by Tiguar
Montana
Member since Mar 2012
33131 posts
Posted on 1/19/21 at 3:27 pm to
The longer they extend, the harder it’s going to be to reinstate.

Lots of people getting real used to extra money in their pocket and you know damn well no one (rhetorically speaking) was responsible with it.

Look for Biden to push real hard to lower the IDR threshold from 10% of disposable income to 5% once the clock actually runs out.
Posted by Lima Whiskey
Member since Apr 2013
19084 posts
Posted on 1/19/21 at 8:41 pm to
Good point

The default rate will explode when they reinstate it. The longer they wait, the worse it will be.
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