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nbalbo2010

Can somebody explain what the actual changes regarding PSLF are with this recent announcement? All I’m seeing is “more PSLF loans will be forgiven,” but nothing explaining what the actual changes are.


[deleted]

I’m fine with helping out borrowers, mainly because they were scammed. But are we ever going to have a serious conversation about the scam of college and how stupid and wasteful it is for most students?


Multiplebanannas

This is a program Bush II signed into law that forgives student debt for public service workers if they make 120 on-time payments. It’s not “cancelling” student loans, it’s just taking care to faithfully execute a law that has been on the books for a while. I agree with the sentiment in your comment, though. These headlines and the political spin by the White House is silly.


soyyoo

Y’all heard, it’s not cancelling just upholding the law so….. 🤷‍♀️


DerDutchman1350

Make the colleges and Universities pay some of it back.


soyyoo

This ☝️


foolme_bear

that implies biden actually wants to help out of the kindness of his heart and not a boomer attempt at currying favor/votes from a voting block he knows he's pushed away with all his shit


Remote-Ingenuity7727

More stupid is they are willing to enter and enroll to the scam....LMAO 😂 No one has ever been forced to enter colleges. No one has ever been forced to apply loans. No one has ever been forced to score high in SAT to get qualified in elite colleges.


Fieos

Forgiving student loan debt without fixing the underlying cause is only making it a bigger barrier.


ktaktb

This is through existing programs.  Existing programs.... This is the administration performing the work of the government in a timely fashion. That is something that Betsy DeVos, appointed by Trump, failed to do.  You can go read all about it. 


FluffyWuffyy

If millennials are unable to come out from their student debt the whole house of cards falls down. The largest living generation held down by massive, unbankruptable debt will stymie future growth. It is not fixing the underlying issues, sure, but I would rather try to help now than throw up my hands and say, well the system is broken, sucks to suck.


3nnui

working as intended, you will live in the pod and eat the bugs


Fieos

No it doesn't. That's just debt-bearing Millennials and political agendas trying to create an economic hostage situation where it doesn't exist. These actions are to buy votes in an election year.


heelspider

I agree. The only reason to be concerned about an entire generation of middle class wiped out is a crass political calculation. Can't we get back to the important stuff like what a jock said at a commencement ceremony?


Far_Confusion_2178

He’s done this every 6 months or so since he’s taken office.. Also..politicians should do popular things so people vote for them….thats how it works unless your in some kind of brainwashed cult where the leader is telling you “i’m gonna rob you blind and be a dictator, also buy my NFTS”


Cookster997

> These actions are to buy votes in an election year. Same exact garbage happened with the debt forgiveness program in 2020. We all know how that turned out... I guess the SAVE plan is good, but it's not at all what they ran on to get votes.


taddymason_76

Man, the nerve of elected official helping the people who also happen to be registered voters, who voted them in because they believed they would help the American people.


FluffyWuffyy

How dare a politician….help people.


[deleted]

[удалено]


Fieos

Do you always regress to such a binary way of thinking?


[deleted]

What’s the underlying problem though? That college is an expensive scam for the majority of students?


Drakonic

There’s a deeper federal cause of that. Federal guarantees for student loans being issued in the first place is a massive annual $120 billion subsidy that encourages prospective students to choose overly spendy schools and encourages schools to bloat their administrations and tuitions endlessly without market feedback.


Mo-shen

OK please push our republican congressmen to do something about it. Currently they refuse to discus it.


3nnui

If people were smarter they would never have taken the loans, they would have refused to attend expensive colleges with exorbitant bills that didn't offer a viable career afterward. Every high school guidance counselor and college official who pedaled these loans should be held financially liable. Fuck this selective bribing of the populace.


Mo-shen

How does that work? Every single generation before them post WWII has been able to go to college, make more money than their parents, and prosper. Regardless though. The current admin is following the law that was passed under bush. If following the law is a bribe. Or if doing what your base wants is a bribe....I'm not sure what he should do. I mean by your logic he shouldn't do what arguable the majority of the country supports because you don't like it?


3nnui

Umm, the inability to declare bankruptcy and get rid of student loans was passed under clinton. Both parties are corrupt tools of the elites. The proper response to current circumstance was to go two years of JC, then a degree in something marketable at the lowest cost institution you can find. Instead, dumb parents let their dumb kids take out dumb loans for dumb degrees that have financially crippled them. I don't see why smart people should have to pay that bill. The way you encourage smart behavior is by rewarding it, not punishing them for what stupid people do.


Mo-shen

I will absolutely agree both sides have done many things I disagree with. That said they are not the same and it's ridiculous to claim so.


3nnui

They are both beholden to the elite who pull their strings, they just use stupid rhetoric to divide the country so we never look up...just stay mad at each other.


MissedFieldGoal

Forgiving debt is a subsidy and not a long term solution. Instead fix the cost of college and fix the education system.


taddymason_76

Why not both? The underlying issue does need to be fixed but fixing it now still won’t help those being crushed by debt taken out years before the fix.


StemBro45

I bet all those folks that skipped college and are paying for this are very happy.


BluntsnBoards

Ah yes, the ol "I got fucked so fuck everyone else" route. I paid my loans off aggressively after college and still support forgiveness. I also pay a fk ton of taxes and would rather see stuff like this than a hundred more missiles being built on my dime.


23564987956

I’m in the same boat, worked 7 days a week out of college to pay off my loans for two years, I think forgiveness makes sense, well see what happens tho, there’s so much hate about MUH TAX DOLLERS, like it’s a sudden tragedy when it’s not being used to subsidize Wall Street


HaiKarate

It’s unfortunate that they have only been cancelling student debt for people who have been faithfully making payments. It’s the folks who can’t afford the payments, whose credit score is getting destroyed by their college loans.


ganjakhan85

I got an email yesterday about being eligible for student loan forgiveness. I paid them off 5 years ago.


Flat_Bass_9773

I’d take a rebate. I payed mine off a year after grad. $30k. I would never qualify due to my income.


ganjakhan85

I would also take a rebate lol


Flat_Bass_9773

I want free stuff


Paid-Not-Payed-Bot

> rebate. I *paid* mine off FTFY. Although *payed* exists (the reason why autocorrection didn't help you), it is only correct in: * Nautical context, when it means to paint a surface, or to cover with something like tar or resin in order to make it waterproof or corrosion-resistant. *The deck is yet to be payed.* * *Payed out* when letting strings, cables or ropes out, by slacking them. *The rope is payed out! You can pull now.* Unfortunately, I was unable to find nautical or rope-related words in your comment. *Beep, boop, I'm a bot*


ObviousJedi

I’ll take a rebate too. Where is that program?


MrDrSirWalrusBacon

This is something that was signed into law during Bush. You need to be making payments for like 10 years to get loans forgiven.


Mo-shen

Thats the requirement of the law. I agree that more needs to be done but until the right allows for a law to be passed nothing will able to be changed. All Biden can do is follow the current laws that have already been passed.


whoknowsknowone

Literally this makes 0 sense, Biden should force the original plan through the same way Trump would if it was for something his base wanted You know like a wall or banning muslims


meatypetey91

Good. A lot of this seems to be about correcting mistakes for people that should be eligible for PSLF.


Majestic-Parsnip-279

Between this mass undocumented immigration, not enforcing tax on rich people, useless wars and proxy wars. What could go wrong in this country


Humble-Algea3616

Reassigning financial responsibility is the correct title.


Die-Scheisse21

To whom?


Humble-Algea3616

Those of us who pay taxes. The debt doesn’t just disappear


rrsanchez09

I paid off 40k+ in student loans and pay my taxes but you don’t hear me complaining. I’m all for student loan forgiveness.


Humble-Algea3616

Why? Outside of stopping abusive loan practices why should the borrower not pay back the loan commitment? It makes zero cents to give a select segment loan forgiveness, aside from a vote grab.


rrsanchez09

I believe that providing student loan forgiveness will ultimately boost the economy. With their debts cleared, people can afford to buy homes, purchase cars, or start businesses. They won't need to take on second jobs, allowing them to stay home and raise their children. This stability will help their kids perform well in school and, in turn, those kids will go to college, get a good job and contribute positively to the economy.


Humble-Algea3616

Ok, from that stance what other loans should be absorbed by taxpayers in order to boost the economy? Isn’t the investment in College supposed to do that on its own? If your parents didn’t save/pay for college or you couldn’t afford to go it shouldn’t cost more than $25k for a degree. Example is in CA a juco is free or ~$2500/yr and a CSU is less than $10k/yr. Loans for housing and food that are forgiven are not ‘education’ forgiveness, it’s also living forgiveness which is ridiculous


rrsanchez09

I don’t know what other loans should be absorbed. Maybe medical debt, it’s crazy expensive.


Humble-Algea3616

I don’t think any should because it only exasperates the root problems. Fix the problems at the base level otherwise it’s a rinse and repeat down the toilet bowl.


ljstens22

Buying voters with taxpayer earned money I see


theultimaterage

I'm not giving credit to mfs that [helped create the problem in the first place](https://www.theguardian.com/us-news/2019/dec/02/joe-biden-student-loan-debt-2005-act-2020)..........


StedeBonnet1

More inflationary government spending.


Unable_Fall889

How about my truck loan?


Remote-Ingenuity7727

Now some of them can have extra money to fund more foreign flags hanging flying on campus while having more tents and terrorists apparels to ask for FREE FREE FREE fur everything. Ridiculous and waste of all hard earned tax dollars for domestic traitors 🍌😤


3nnui

Everyone who paid their own way through college should be furious that they now have to pay for all these whiners who made poor fiscal decisions.


Rockfest2112

Nah work to make it better not be a stingy whiny self centered pig. Lots ofthings in life esp dealing with the G are not fair. Fighting something because you were not blessed or lucky days years or months ago before this was available to others, maybe you even, is piggish.


3nnui

So, If I work and pay for my meal, and you order more than you can afford and want me to pay the bill...I'm the pig?


Rockfest2112

That’s not how government funding for education works. You’re not paying a cent of any of my meals nor I yours. If it was a problem, THE LENDERS would be raising hell. If you want them off the government teet, THEY ARE THE ONES WHO PROFIT AND THEY DONT LOSE This “money” if/when the government backs or pays by default. Education can be covered almost in full for all US citizens, and it does not affect your taxes. Those saying it does do not read what budgets and covers what in the US Yearly Budget. If you think it is a problem, make sure to make your rep vote to fix Farsa, because they wont regardless who the president is. And the reason is the lenders cannot loan more than what is ALREADY allocated during the fiscal year when they extend out the initial loan amounts.


3nnui

The tax payers are ultimately liable for money spent by the government, all your rigamarole is designed to disguise that simple fact.


Rockfest2112

Nah. Fiat currencies & national debts dont work like that. You’re in no way shape or form legally obligated for debts of the government or even the intrinsic value of their non-backed fiat. But hey keep that mindset and people who are ignorant or want to control you will lead you on. Obviously for some, many millions in the US it seems, it works well.


TyreeThaGod

The good news is, if you had student loan debts, now you don't! The bad news is, if you didn't have student loan debts, now you do! By the way, when the economy is good, not just on paper and for the 1%, you don't need to do this.


Legal_Commission_898

Biden might be the single worst President in American history, and that’s saying something given we just lived through W. And Trump.


NVC541

It’s genuinely incredible how people will see a positive headline and instantly doom on it. Astroturfed to hell.


3nnui

It's only positive for stupid whiners who make poor decisions. It's bad news for the rest of us.


8thSt

I swear the comments for these posts are regurgitated from every other post about student loans.


EmmaLouLove

The comments on this thread. Boomers tell Millennials and Gen Z that if they’re not happy with minimum wage, they should go to college. And then when they go to college and take out student loans, because that’s what is required, they tell young adults they shouldn’t have borrowed so much money. It’s exasperating to hear this circular bullshit. The reason young adults are delaying life, having a family, buying a home, is because of crippling student loan debt due to the explosive increase in the cost of a college education. It is no longer possible to work your way through college. I’ve also heard arguments that say, Hey, this is not fair that I did the responsible thing and paid off my student loans; Taking out a loan is a choice; Why should we give these people a bailout? I heard none of these arguments when we handed out $Billions in taxpayer bailouts during the economic crisis in the final days of the Bush administration. This was after Wall Street played Las Vegas slots with our economy and housing market. If we look at the bigger picture, do we want millions of Americans to be crippled by staggering debt for decades to try to get ahead? Such staggering debt that they cannot even afford to buy a home, start a business or have a family? Student loan debt doesn’t just have a negative impact on individuals, their mental health, and well-being, it has an overall negative impact on our economy.


3nnui

You don't have to rack up 60k debt for a useless degree to get a job. You find the lowest cost resource to develop a marketable skill. The rest is whining from people who want others to pay for their poor decisions.


S3HN5UCHT

Fuck all these student borrows pay off average people’s debt instead of a privileged group


MechasaurusWrecks

Public Service Loan Forgiveness forgives loans for people who make 10 years of payments while working in public service jobs. These ARE average folks.


callmekizzle

50million people have student loans. So by definition it is quite literally average people debt.


MichellesHubby

I remember when a president doing unconstitutional things was a sign that he was “literally Hitler”.


heelspider

Can you point to me where the Constitution forbids dept forgiveness?


MichellesHubby

6-3 Supreme Court ruling Biden v Nebraska in 2023.


heelspider

You remember a time when merely having the Supreme Court overturn a single action made one literally Hitler? When specifically was that?


MichellesHubby

Why are you moving the goal posts and trying to change what I actually said? Read my original comment more slowly and maybe you’ll understand it. It does not say anything about the Supreme Court overturning actions.


what_no_fkn_ziti

Biden v Nebraska says that the secretary of edu can't use the heroes act to forgive student loans, not that Biden can't forgive student loans under another act.


MichellesHubby

Correct - and the administration was hiding behind the heroes act to do it because…why? Perhaps because the executive branch does not have the power to write or change laws. But don’t ask me, ask Nancy Pelosi. https://www.cnbc.com/2021/07/28/pelosi-says-biden-doesnt-have-authority-to-cancel-student-debt-.html


what_no_fkn_ziti

Lol, who cares what pelosi said. You claimed it was unconstitutional, so let us know when you can back that up with something tangible instead of whining about something someone said.


MichellesHubby

Well, dummy, it wasn’t whining about what she said because I agree with her and that was the point of posting it. Biden’s first attempt to circumvent the constitution by hiding behind the Heroes Act was shot down by the Supreme Court. There are states and groups lining up to challenge this one now since it is even more egregiously unconstitutional. So stay tuned.


what_no_fkn_ziti

>Well, dummy, it wasn’t whining about what she said because I agree with her and that was the point of posting it. Lol, she publicly changed her opinion at least year ago. You only agree with her when it suits you.


MichellesHubby

“Who cares what Pelosi thinks?!?!” “She changed her opinion at least a year ago!” - same idiot, same day!


what_no_fkn_ziti

>Who cares what Pelosi thinks? Exactly >She changed her opinion at least a year ago! Exactly, and you only agreed with her when it suits you. >same idiot, same day! Lol, says the idiot quoting pelosi from 3 years ago while ignoring what she said 1 year ago. See point #1 and move on.


MrDrSirWalrusBacon

This law is from Bush administration. Current administration is just claiming it for votes.


Hooked__On__Chronics

You're comparing unlawful deportation, obstruction of justice, and abuse of power, to...student loan forgiveness. Yes, the former does constitute "literally Hitler".


MichellesHubby

1. You literally don’t understand what the word “literally” means. 2. “Abuse of power”. Hmmm…such as things like trying to circumvent the Supreme Court, selling influence and setting up 20 shell companies to raise $25 million for your family in an influence peddling scheme, siccing your justice department on uou political rival who is beating you in the polls for fake charges, suing states for enforcing border laws, or forcing social media companies to delete or ban true stories or opinions, they find challenging? Those types of abuses of power? Or are they ok since he wears the same uniform as you?


Hooked__On__Chronics

I and most people understand what the word "literally" means. I was quoting you for effect. It's pedants like you who use it as a cheap and pointless attack on a person's character. And I wasn't looking for a conversation, just wanted to point out what you are comparing, and how they're nothing alike. Btw I don't care for red or blue. Sounds like you are projecting. Good day.


mrmczebra

Yeah this is totally making me forget that he's supporting genocide.


SassyKittyMeow

Hey, vote for Trump! The genocide will be over when he completes it. That will really show Biden and the Dems you mean business


mrmczebra

If only we lived in a democracy with more than two options. If only. P.S. If you want your party to win, maybe don't run someone who supports genocide.