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Post by cakewench on Aug 25, 2022 12:54:28 GMT -6
Apologies if this was posted before but Charlotte has an amazing thread on debt forgiveness and mentions this issue:
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jaygee
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Post by jaygee on Aug 25, 2022 13:32:02 GMT -6
Great. Another reason to support it!
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jaygee
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Post by jaygee on Aug 25, 2022 13:32:56 GMT -6
This is wild. Read the NY Post article then watch the clip of the press conference. They have completely lost the plot.
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Post by blurnette989 on Aug 25, 2022 13:38:28 GMT -6
Peekaru and PandaWatch do you guys think when we are able next year to apply for the new Income based program from this change that it will be like switching between IBR and ICR or will it reset the clock? I've got the 25 year 15% IBR and have paid for 12 years. From what has been released do you think I'd have to start over and pay for 20 more years to take advantage of the no interest compounding? Or do you think no interest compounding would be added to existing income based programs? *No interest above my approved payment, even at 15% of my income that one rule would be huge. Based on what we currently know, I think you would wind up resetting the clock to the new 10 year repayment plan. BUT, there is significant ground work being laid for other stuff. I think, when there is more time and resources, they may be able to go back an audit to see how long you've paid in the past. We are waiting on the exec order itself to read through, and then I will have more answers. oh i don't think i qualify for the 10 year part- it's only for those whose original balance was 12 k or less? I really just NEED the lack of compounding interest
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dc2london
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Post by dc2london on Aug 25, 2022 13:41:37 GMT -6
So like, folks only go into the military for the $$? Is that what you 're saying Jimbo? Just admitting out loud that our economic system is so whack that a lot of people have to potentiallt put their lives on the line to afford college
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dc2london
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Post by dc2london on Aug 25, 2022 13:43:17 GMT -6
This from a frontliner says it all. Student loan relief is popular.
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elle
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Post by elle on Aug 25, 2022 13:50:51 GMT -6
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dc2london
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Post by dc2london on Aug 25, 2022 13:51:39 GMT -6
This is wild. Read the NY Post article then watch the clip of the press conference. They have completely lost the plot. 'The mom of two said the racist tweets were all part of “the culture of Twitter” — even claiming it was “part of its charm.” It’s unclear what she tweeted and what account she was referencing.' Uh huh.
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richard
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Post by richard on Aug 25, 2022 14:25:24 GMT -6
It's probably going to look like this:
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willow
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Post by willow on Aug 25, 2022 15:03:31 GMT -6
richard I remarked to my husband when we saw the Congress/Pete walking brigade that it was so obvious Pete was the one non-Minnesotan. Everyone else dressed in sensible clothes and walking shoes for the fair and he’s wearing dress slacks, a button down and dress shoes. With a tie. 😅 no one else was dressed up. Well except the obvious security detail dudes.
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jaygee
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Post by jaygee on Aug 25, 2022 15:03:49 GMT -6
This is great, BUT I’m literally trying to buy or lease an EV right now and I can’t find an EV car in the Bay Area to even test drive let alone buy.
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Peekaru
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Post by Peekaru on Aug 25, 2022 15:07:18 GMT -6
Based on what we currently know, I think you would wind up resetting the clock to the new 10 year repayment plan. BUT, there is significant ground work being laid for other stuff. I think, when there is more time and resources, they may be able to go back an audit to see how long you've paid in the past. We are waiting on the exec order itself to read through, and then I will have more answers. oh i don't think i qualify for the 10 year part- it's only for those whose original balance was 12 k or less? I really just NEED the lack of compounding interest Gotcha, Based off what I can currently see, you would be able to get the interest free loans, as long as you continue to make payments (based on 5-10% of income vs 10-15%). Because we don't have the exact wording yet, please don't make any changes. But I am cautiously excited for you! Also, this is the footnote in our doc: Changes made by DOE (April) to fix old IDR payment plans so more payments are counted toward period leading to forgiveness. This will have an effect on the current executive order plan – want as many payments as possible to count towards the IDR.
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richard
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Post by richard on Aug 25, 2022 15:35:59 GMT -6
Sick of the malarkey!
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dc2london
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Post by dc2london on Aug 25, 2022 15:44:20 GMT -6
Wooowwwwwwwww
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dc2london
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Post by dc2london on Aug 25, 2022 15:45:20 GMT -6
And Matt Gaetz lists income from that company on his financial disclosure form so some of that went straight into his pocket
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jaygee
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Post by jaygee on Aug 25, 2022 15:58:36 GMT -6
Today is one of those good days on Twitter.
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mc13
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Post by mc13 on Aug 25, 2022 16:02:36 GMT -6
Today is one of those good days on Twitter. I just laughed out loud over the White House tweeting these! More of this, please!
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Post by enchanted on Aug 25, 2022 16:20:01 GMT -6
Sick of the malarkey! *snip* Damn. He's (rightfully) had it.
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jkjacq
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Post by jkjacq on Aug 25, 2022 17:00:03 GMT -6
They are not playing. I love the petty.
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richard
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Post by richard on Aug 25, 2022 17:18:21 GMT -6
The newspaper one. 😂
/photo/3
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willow
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Post by willow on Aug 25, 2022 17:20:46 GMT -6
The official White House Twitter taking these republicans on is giving me life.
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LaRo422
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Post by LaRo422 on Aug 25, 2022 17:22:57 GMT -6
I saw this on Twitter and didn’t notice at first that it was the White House account. It’s amazing 😂
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willow
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Post by willow on Aug 25, 2022 17:24:59 GMT -6
richard there was a defeat Walz booth - not a candidate booth but some kind of conservative pac and there was a big photo of his face and then a gas pump sign under it and I just immediately internally raged. The irony of these people hating how the free market works and not understanding how gas prices change based on the system of capitalism they LOVE. Predictably every person standing outside and inside of the booth was a white man looking over 40.
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iruntodrink
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Mostly namaste. A little bit fuck you.
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Post by iruntodrink on Aug 25, 2022 18:17:03 GMT -6
The official White House Twitter taking these republicans on is giving me life. you know they had that shit prepped well ahead of time in anticipation 🤣
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RajahMD
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Post by RajahMD on Aug 25, 2022 19:04:14 GMT -6
oh i don't think i qualify for the 10 year part- it's only for those whose original balance was 12 k or less? I really just NEED the lack of compounding interest Gotcha, Based off what I can currently see, you would be able to get the interest free loans, as long as you continue to make payments (based on 5-10% of income vs 10-15%). Because we don't have the exact wording yet, please don't make any changes. But I am cautiously excited for you! Also, this is the footnote in our doc: Changes made by DOE (April) to fix old IDR payment plans so more payments are counted toward period leading to forgiveness. This will have an effect on the current executive order plan – want as many payments as possible to count towards the IDR. This all makes me so excited. There might actually be a light at the end of the tunnel. My interest is so high that I thought I'd be paying forever. And limiting what the monthly payment could be means I might actually be able to start saving for my kid's college. I'm determined to make sure she doesn't get sadled with debt like I did. Now I just need to figure out if it'd be better to file taxes as married jointly or married separately.
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clucky
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Post by clucky on Aug 25, 2022 19:15:50 GMT -6
I’m so glad that this relief of finally coming. It is absurd that it got as out of control as it did and I thought it was bad “back in my day.” Hoping that you all (and others) get relief. Some of the numbers you all have posted before still have my head spinning.
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Post by doublestuf on Aug 25, 2022 19:47:53 GMT -6
I need some clarification about refunds for payments made during the pause please. H and I qualify for having our outstanding balances completely wiped now as we each had <$10k left. However, I randomly made payments on both of our loans during the freeze totaling at least $2100 (we paid off an additional loan during that time and now the site won't let me see my payment history). Does this mean they'll cut us a check or does my reading comprehension need some work? I feel like that's too good to be true.
I guess I should add, H had a $9300 balance and we paid $1600 during the pause. I have no idea if he received a Pell Grant but the possibility exists. I had a $4800 balance and paid about $450 during the pause.
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Post by carmensandiego on Aug 25, 2022 21:08:38 GMT -6
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elle
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Post by elle on Aug 25, 2022 21:12:58 GMT -6
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Post by cakewench on Aug 26, 2022 4:42:22 GMT -6
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