discussion Student Debt - Update: GOP lawsuit attempts, Biden allows opt-out; FFEL restrictions

[Kassi]

 

Major Points:

• Make under $125k or $250k married? You get $10k forgiven.
• If you went to college on Pell grants, you get an extra $10K canceled
• If you owe more, or make too much to qualify, enroll in IDR, your monthly payment gets refinanced & loan is forgiven after 20-25 yrs
  • Or PSLF if you're in public service & it's forgiven in 10 yrs
• 4-month extension of the student loan pause

 

A president! 

[DONTYELLATME]

https://twitter.com/potus/status/1562462774969581570?s=21&t=kUEFVU7v3_MCUon_1z9lcQ 
 

there it is 

[Kassi]

1 hour ago, GhostBox said:

??????????

Love this tbh. Thanks for posting valuable information which graciously informs everyone.

 

While Biden's plan does not give immediate blanket forgiveness to everyone, when you factor in the reforms he made to the four IDR programs and PSFL, he's effectively created a path for all remaining people with federal loans to get them forgiven with income based payments.

 

And that's not even to mention the $32 billion in principle + $75 billion in interest Biden has already forgiven to over 700,000 borrowers, including those with disabilities or who were defrauded by for-profits. That ALONE is more student debt forgiven than any other president. 

[infrared]

Biden's administration has authorized the cancellation of $32 billion so far -- more than any other administration -- largely for borrowers who were defrauded by their for-profit colleges and for permanently disabled borrowers.

[GhostBox]

18 minutes ago, Kassi said:

 

Major Points:

• Make under $125k or $250k married? You get $10k forgiven.
• If you went to college on Pell grants, you get an extra $10K canceled
• If you owe more, or make too much to qualify, enroll in IDR, your monthly payment gets refinanced & loan is forgiven after 20-25 yrs
  • Or PSLF if you're in public service & it's forgiven in 10 yrs
• 4-month extension of the student loan pause

 

A president! 

Wow ??????

[beautiful player]

Whew. The most impactful, progressive president in a century  

This is an amazing step forward.

[GhostBox]

2 minutes ago, beautiful player said:

Whew. The most impactful, progressive president in a century  

This is an amazing step forward.

Agreed. Hopefully more will be done in the future. But great step forward 

[nadiamendell]

So how much is forgiven for me? I received Pell grants for part of my time in college and didn't receive them for the other part.  

[ZIVERT]

Wow, Biden is doing an amazing job! All his help for Ukraine, fighting climate change, and now cancelling the most student debt out of any American President. What a great President  

[chessguy99]

Can't even load the website of my student loan servicing company.

[Communion]

Hopefully the application process let's borrowers decide which loans these can apply to. My loans for my freshmen semesters are the highest since no one ever explained the best direction to start payments so I've been paying the newest ones first and if they apply it to those. 

[XAMJ]

Quote

Biden to cancel up to $10,000 in student debt for most borrowers and $20,000 for Pell recipients

Biden to cancel $10,000 in student loans for most borrowers, extend payment pause - The Washington Post

Ugh Biden CAME thru!!!!!!!!!!!!!!!!!!!!!!!!!!! king

[rp662]

1 hour ago, Kassi said:

 

Major Points:

• Make under $125k or $250k married? You get $10k forgiven.
• If you went to college on Pell grants, you get an extra $10K canceled
• If you owe more, or make too much to qualify, enroll in IDR, your monthly payment gets refinanced & loan is forgiven after 20-25 yrs
  • Or PSLF if you're in public service & it's forgiven in 10 yrs
• 4-month extension of the student loan pause

 

A president! 

[Communion]

The same five privileged liberals talking to one another. 

 

Anyway, for those of us who actually need this (and more) relief, please make sure to note that the PSLF extension expiration hasn't been moved since it was done through Congress. But those who are considering the PSLF:

 

 

 

Please double check though with whatever ghoulish processor now has your loans (MOHELA can choke!)  

[GhostBox]

3 minutes ago, Communion said:

The same five privileged liberals talking to one another. 

 

Anyway, for those of us who actually need this (and more) relief, please make sure to note that the PSLF extension expiration hasn't been moved since it was done through Congress. But those who are considering the PSLF:

 

 

 

Please double check though with whatever ghoulish processor now has your loans (MOHELA can choke!)  

Ahh yes so privileged in my tiny southern WV poor ass town ?

 

you love to judge others. It’s not a good look?

[LeMésTragique]

Biden does everything RIGHT  What a president! 

[Communion]

1 minute ago, GhostBox said:

Ahh yes so privileged in my tiny southern WV poor ass town ?

 

you love to judge others. It’s not a good look?

Leave us alone and stay out of working class people's business. You literally didn't know how the PSLF worked 3 pages ago and almost gave someone wrong information. These are our real lives and finances that exist beyond who you hope becomes president every 4 years. 

[FameFatale]

This will really help me, a lot. I know it won't wipe out all my debt but it will help me get back on my feet and not stress about making ends meet when payments do start back. I will have around 6k left and my husband's will be wiped. Thank God!! 

[GhostBox]

6 minutes ago, Communion said:

Leave us alone and stay out of working class people's business. You literally didn't know how the PSLF worked 3 pages ago and almost gave someone wrong information. These are our real lives and finances that exist beyond who you hope becomes president every 4 years. 

Again I live in southern WV. The definition of working class. Kindly Buzz off and Stop judging people. 

Edited August 24, 2022 by GhostBox

[GhostBox]

3 minutes ago, FameFatale said:

This will really help me, a lot. I know it won't wipe out all my debt but it will help me get back on my feet and not stress about making ends meet when payments do start back. I will have around 6k left and my husband's will be wiped. Thank God!! 

This is so awesome ??  

[perfect blue]

this will really make a dent for me ?? 

 

 

[slik]

I am very happy for anyone this will help out!

 

For those it won't help - I hope more help will happen in the near future for them

 

 

 

 

[rihannabiggestfan]

 Biden

 

 

28 minutes ago, LeMésTragique said:

Biden What a president! 

Yeah, an awful and racist one!

 

 

 

 

 

Edited August 24, 2022 by rihannabiggestfan

[GhostBox]

anyway back to the topic at hand

 

????

so many people happy today 

[karron0624]

Someone clarify for me because im dumb today. Its 10k for everyone and 20k if you got the pell grant right?