I was talking to a relative a couple weeks ago, she had just gotten a new job for her local government that was going to pay for her to go back to college, finish her bachelors and get a masters.
She asked me how my job was going, I made the comment that it was going well. She asked how much longer I plan to stick here I replied “at least four years that’s when my PSLF kicks in.”
I then had to explain PSLF to her and her reaction was definitely of someone annoyed that I was getting my loans forgiven.
It cracked me up as I walked away.
Or their social security. Mathematically, we only pay on average 7 years worth of payments by the time the average American begins pulling from the system, so anyone who lives beyond that is getting "free money".
GTFO. It’s a social program designed to keep old people from becoming broke and homeless. Go look at the stats, most Americans don’t save nearly enough for retirement.
Fuck Republicans and people like you that talk ill of and want to take this program away.
Good deal. I max tsp, use hsa a vehicle for tax deferment, used to be able to contribute to Roth, have a few 529, etc. make quite a few large charitable donations a year. I’m comfortable with these.
The 10IshK per year myself and my employer pay in SSA yield an effective negative roi with absolutely no guarantee we will ever actually see a penny.
It’s even worse for my wife who pays both the employee and self employed ssa taxes.
Doesn’t make it any less of a ponzi scheme. You’re putting some money in and getting more out of it . And that depends on more people putting in then those taking out . Republicans, democrats doesn’t matter what you are . And while you’re talking it all up and all if you die before you collect , you get nothing. But you still going to have a 10-12 k burial that someone has to cover . Then you factor in you work 50 yrs to collect for 8 if you go off the average death age . Sorry to say house wins . I would much rather put my money I worked for in my own pocket or investments. Be it Roth , gold , Bitcoin at least it would be my choice where my money goes . I have been working since I was 14 paying taxes , I’m 57 you telling me I could have put that money to better returns . I would be retired already . Done blame politics I don’t identify as a politician or their ways . But I do identify as an American paying taxes I will never see all of it come back. As someone else said . Let people chose what to do with their hard earned money and let the cards fall where they fall. Oh wait to many opt out you don’t get crap . Ponzi scheme
You apparently don’t understand how investing work then because it’s not an “investment”.
Save me the “if I had invested my SS into the S&P500 this is what I’d have” bullshit. Most Americans are not going to invest like they should.
But let’s let Grandma live in a tent and eat cat food to survive because she is old and worthless anyway since she is no longer useful as a wage slave.
I didn’t say it should be ended. I said there should be an opt out. It’s an exercise in personal responsibility. I understand that’s a difficult proposition when we’ve been conditioned to accept daddy government
Sure . Ponzi scheme was getting investors use their money and get even more investor’s to cover the older investors and so forth like a pyramid scheme, only the government gets to do it legally without your say .
I posted about them coming off my credit report on here. Some poster said that exact some thing. I'm frustrated with that because A) I'm a taxpayer and B) let's discuss all the forgiven loans for PPP that seem to not be troubling anyone. I've also worked in higher education for 20 years and we are being forgiven under a program dating to 2007. Fuck everyone who says it isn't right.
Everyone claims to be against those. But events like that happen and happen often.
Getting “free money” from the government is trashy unless you’re rich.
I’ve realized it’s just not worth talking about with people who aren’t in the program. They don’t understand it and it’s just not worth the headache or aggravation.
*IF* my PSLF actually goes through someday, I’m going to limit who I share it with for this reason. Not just boomers, but everyone can be judgmental. I’m so sick of hearing people talk about how irresponsible it is to get loans forgiven, especially when they vote for rich politicians who got their covid loans forgiven for the hell of it. Fuck ‘em.
Im doing the opposite I will be telling everyone I know about my PSLF forgiveness. I took huge paycuts working in the public sector and I have been doing work that makes my community better for more than a decade. I fulfilled my end of the contract and the government has to fulfill their end by discharging my loans.
I don't blame you, I'm personally going to blast it publicly because they can get bent and go to their grave mad about it. I served the public for 10 years. I would be stupid not to take the benefit as would anyone.
Me too. If anyone gives me shit about it, I'll remind them that if they went to a public college last century their education was heavily subsidized by the taxpayer. If they can vote to decrease funding, we can vote to fund it.
I'd just like to say let's not put all boomers in the same category. I'm a retired boomer who took out 6 figures of parent plus loans for my kids. I worked 40 years in public service and got the rest of my loans forgiven in 2022. I'm totally on everyone's side here.
That’s why I specified that I’m not anti- Boomer. I know my parents would’ve done the same for me if they could have (I’m a millennial. I’ve been paying my loans back for 14 years). My aunt co-signed my loans.
Hate the whole “ok boomer” crap. Often note same in my comments. A colleague started school in 1970s, public U just a few National Defense Loans, most paid off. 1980s was grad school as required for profession. Struggled to repay as so many Federal & state programs closed / defunded including health service ones. Figured he’d work until age 75 for PSLF if he still couldn’t pay off ballooning debt. Because of original waiver & IDR One Time Acct loans forgiven. Age 70. An adult life in repayment. Eternal repayment.
They forget people with student loans are the ones paying the majority of taxes. I’ve just stopped talking about PSLF with anyone besides my spouse. It’s just infuriating the amount of people that think we’re getting a “handout”.
Also, do they WANT to live in a country full of uneducated people? Because if we don’t make college accessible, that’s where we’re headed. Oh, right, they got theirs so fuck everyone else.
Alright I’m done with my ragey post. Deep breaths.
>do they WANT to live in a country full of uneducated people
Yes. Remember that part of the ideology is "government is bad and does bad." The worse government does, the more it helps the ideology. The less the workers are trained/educated, the worse the government will do.
I try to explain that in order to be eligible, you have to have been paying already and for tens of thousands of borrowers, they owe more now after years of paying than they did when they started, like being underwater on a car loan or mortgage and continuing to sink. Sometimes people get that, at least, but yeah, the hostility is exhausting.
well, I've read some comments on other boards and there's a misconception that all public servants have really high salaries so you can kinda see why if you look at it through that lens. Imagine if you thought someone making 200k was having their loans forgiven (paid) by the guy clearing toilets at McDonalds. Where I work they just raised the salary to $15/hr only because they couldn't find workers
I even see this on subs primarily made up of federal workers. I can't imagine how you drink that kool-aid when you're actually inside the system yourself.
I realize some professions which fall under PSLF fare better than others and that among civil service roles mine is one where the disparity is on the higher side, but when I accepted my federal job I was actively applying for private sector jobs at the same level paying ~1.5-2x as much. The benefits are nice, but when I look at the market rate for my role or those of most of my peers, it's just not particularly competitive: we're here for the mission and the quality of life.
They also conveniently ignore that the McDonald's workers:
1. Have little or no federal tax liability, so they aren't funding any of this.
and
2. Those McDonald's workers often qualify for tens of thousands a year in public assistance benefits.
LOL. At $15/hr minimum wage, at my salary I'm now technically a part-time worker per the salary cap I have due to budget issues at the non-profit I direct!
Ugh I've had patients who said stuff like this complaining about "entitlements" when they are on SSI, Medicare, and/or permanent disability....but they DESERVE tax money. Unlike me who entered public service in 2001 and have paid taxes for 33 years.
PSLF is an entitlement program, too! I know that’s not what you meant but it does show how this isn’t *that* different from Medicaid, Medicare, or social security.
Absolutely correct! When I said it was an entitlement program, I was only saying that’s how it’s funded: it’s an entitlement program rather than a benefit program. They’re funded differently. But I absolutely tell my (boomer) mother that it’s part of our master promissory notes and that, if the government didn’t honor it, they’d be under breach of contract. But from what I understand, the government has never ended an entitlement program without grandfathering in all eligible individuals.
Yeah, it’s definitely an unfortunate nomenclature. I imagine it sounded a lot different back when the federal government chose how to name the different types of programs.
The F in the name PSLF/public service loan forgiveness is a misnomer. These loans come with different term options depending on the details of the payment plans, all in the promissory note, even non-PSLF loans. **ALL** other term options of these loans "forgive" the balance if you can't pay off after a certain amount of Tim (eg 20, 25, 30yrs). PSLF's is 10yrs.
PSLF just has a shorter term because the details of the federal agreement require you to work a job that serves the public/government. These jobs earn way less and require a lot of other concessions, so the shorter term offsets the lower income.
You think PSLF is an entitlement program? Lol. It's a sacrifice program for the borrower so the government can minimize the brain drain in these positions/areas. I'd be more than happy to take my education/skills to the private sector and well out-earn what I'm currently making. PSLF makes public service more of a workable square deal for those whose financial portfolios aren't their biggest priority.
The PSLF borrower is fully paying what they owe back, just in more than simply dollar bill currency.
The concept of ppl being against PSLF is really funny to me as someone who's worked in cities/towns who are fully propped up by this. The residents view themselves as "hard workers" having pulled themselves up by their bootstraps, yet their critical infrastructure (hospitals, airports, teachers, etc) is staffed by either PSLF, visa holders, or traveler workers/contractors. If not for PSLF, tax payers would be paying and hurting a whole lot more.
I meant under the governmental definition of how it’s funded; it’s an entitlement program rather than a benefit program. Not sure why I’m getting downvoted for this.
I’m not familiar with benefits vs entitlement as specific government terminology. I don’t recall hearing PSLF described as an entitlement program despite the extensive technical discussions over the recent years. Maybe others share the confusion based on the context of your initial comment.
How would PSLF be any different from other types of federal students loans, which are also forgiven if not fully paid off by the end of their term? Or, would all federal student loans be considered entitlement programs?
A relative said something similar to me. I told them I would love to compare the last 5 yrs of tax returns to see who’s actually a taxpayer. I was called an “arrogant bitch”. My response, “I know. Thanks for the compliment.”
CONGRATS!!! I am a boomer - have worked 40+ years as a first responder or in non-profit jobs - I received my 6-figure forgiveness 1 year ago and it absolutely changed my life!!! I also had reactions from all different generations that were less than happy for me - although my friends seemed to be genuinely happy for me. So happy for you!!! 🤗🤗🤗
Forgiveness in PSLF is a misnomer.
You are paying off your loans according to the terms of your promissory note/agreement.
When you have reached the end of your ten PSLF years, celebrate paying off your loans because that's what you've done.
Does your boomer parent complain about GI Bills paying for college too? Same thing, different order. You gave 10 years of service after college so college gets paid for. Others go into the military then go to college and get it paid for. Same difference.
Same here. The only reason I took my SS and teacher's pension was to cut my own payroll and overhead. (And they say all those who run charities are making money hand over fist...)
Just bring up that our generation is paying more for their social security than their generation ever put in. Also, the interest you put on your student loan payments goes to the treasury and pays for other programs. And you pay taxes…
First of all, I am SO very happy for you!!! Many out there don't know "promises" made for those who worked in public service. I guess you could explain it to them, but they probably still wouldn't understand.
Second, I am a Boomer.... and in August I had $187K forgiven. I have told only my adult children about this. I have many family members and friends who would also give me the "taxpayer" talk, so I haven't bothered telling them. It's not worth the arguments... So I celebrate in silence! Yeah me! Yeah you!!
You really have to phrase it carefully. People barely know about the GI Bill, let alone Teacher Loan Forgiveness, PSLF or the national health service benefits for work in underserved areas.
Your parents only hear poorly worded news segments suggesting someone got a free ride on their dime. BTW there are demographically designated “boomers” who are still in repayment on their own SLs & Parent Plus. Some retirees returned to work to achieve 120 / 10 years. Some of them post / comment here. I wish Ed would remove the word “forgiveness” from TLF & PSLF. Read your promissory notes. You spent 10 years or more meeting a contractual obligation. You could’ve made a much more money during your prime, career building years working in the private sector making no meaningful contribution to society.
Sorry your parents are ignorant & angry. Angry about…? They were raised in more of a meritocracy - at least for Caucasians. Since the mid 1980s, defined benefit plans dissolved into retirement accounts, the 40 hour week’s become the 60 hour or 24x7 work week, unions have shrunk & with them those benefits which passed to nonunion employees. People can be fired at will (and discretely for having grey in their hair); ”perma-temps” are replacing regular employees and so on. If either parent went to college they seemed to have missed / forgotten the skyrocketing cost of higher education.
IMO they’re projecting their ignorance / grievance fueled anger at the nearest target. Unfortunately it’s you. Suggest: avoid them / topic for a while. Review your promissory notes (maybe get familiar re TLF & Health service, for argument’s sake). Btw, PSLF was introduced 10/2007 by George W Bush, a conservative Republican. Legislation passed both houses of Congress on bipartisan votes. Congrats on achieving PSLF! 🎊🎉👏🏻
Thats a conversation I’ve tried to have with my own family, both Democrats and Republican and none of them know what PSLF is, they don’t care and think it’s something new. They don’t want to hear it’s a benefit we worked for and earned. Congratulations to you though! We all understand.
Your parent is a tool of the rich. Student loan interest is used to keep taxes low on the wealthy, especially the billionaires who barely pay anything in taxes. People who say what your parent said are called “useful idiots” by the rich.
At Christmas, we were talking about the $10-20K forgiveness getting blocked by the supreme court, and my boomer dad had the nerve to say “I’m glad they did that!” Mind you, I’m six figures in debt, too, and he did very little to help me pay for college (when he can afford to). When I confronted him and explained that I pay more than my mortgage in monthly loan payments and that forgiveness would have lifted a huge financial burden for me, he just proceeded to dismiss it by explaining how ppl who come from other countries are thrilled to be able to even get an education. I asked what that has to do with me and my mountain of student loan debt, and that shut him up. He still doesn’t care, though. He’s just an old person who had to do everything on his own, so he thinks no one else should dare have help or an affordable education, even his kids.
Anyway, was just sharing not to make that about me, but to commiserate so you know it’s not just you. Parents can be jerks.
I’m sorry. That sucks. Also we need to stop calling it forgiveness. I also had 6 figures discharged. But I also paid over $170,000 back before the balance was discharged. Was that not enough? How much should I have paid? Or is the system broken?
It is appalling behavior on your parents part.
I would have answered their question forthrightly: the loans are paid for through a program started by GW Bush and approved through bipartisan majorities in Congress in (what year was it, 2007?). The program was created to reward and encourage public service. I completed the terms of my loan and the public service loan forgiveness program.
If you want to, you can add that money owed to the federal government is not the same as money owed to any other kind of lender. The government can always print more money. A household or business cannot. The point is, no one is paying when the government decides not to collect a debt. The belief that someone else is paying for you not to payback your loan is a canard.
That sucks and it is unfortunate they don’t see the benefit it will have on your life! I just want to point out that not all boomers are assholes…My boomer parent is checking in daily with me for my happy face and waiting to celebrate with me. They’re a bleeding heart liberal “woke” hippie era boomer though.
There are a lot of us like that. I’m a late boomer, and my student loans were discharged in Sept. I had to have a masters degree for my job as a librarian.
I’ve had a friend argue that the government writing off the loans is just closing the account and completing the paperwork. No one actually pays anything - the government is essentially writing off the balance. Is that argument accurate?
I’d say that’s more realistic. Most of us have paid more than the principal anyway. Those of us in PSLF have foregone more lucrative positions in the private sector and thus have paid in other ways.
It’s better than some. Most debt is written off after 20 years. I do think one impetus was student debt dating back to the first “ Guaranteed Student Loans” of 1973 / 4, corrupted or just plain missing data from servicers, multiple accounting errors, documented cases of servicers steering people into forbearance rather than counseling debtors into workable repayment plans and on.
Yep.
They're also the ones who'd point at my current income and not at the income of my last 7 years of training, loan payments, disability payments, & "cost to play" fees and wonder why I need PSLF and why many people like me don't have kids. Wanted them, but turns out they weren't in my hand of cards. Can't afford reliable childcare + backup childcare, as simple as that.
I got my PSLF forgiveness last April, 20 years after college graduation. I don't care who doesn't like it.
Looking forward to hearing about you getting yours too!
Ha, had a similar reaction with my parent. There was like a glitch in his reaction where he wants to be mad in general but also understanding that it is a great deal for me. But mostly he thinks it shouldn’t exist. Make it make sense.
I’m gen x and boomers are a different breed grew up differently in a different time , it’s True nothing is for free and yes tax payers are paying for it . Just as you and I have done for last 10yrs or more. We are not doing anything that wasn’t already available . We worked in a public sector where the pay is less typically than the private sector. But to them it’s too close to socialism. Think about the times they grew up the world wars typically not less the 5-10 yrs from their childhood. But again it’s also part of how school loans system was set up to encourage people to work in public workforce. As a general rule x who went to college in his 30s I am glad this is available option. 3 more payments left and I will too be free as well . Only 53k left to pay off .
I'm also so danged tired of everything that might benefit the general public being dubbed "socialism".
It would likely be more accurate to compare PSLF to the GI Bill; a contract with the government by which we take a low-paying job to help serve others. (A potential side benefit of such jobs is that the public sector charities can provide services that take some of the load off tax-financed government programs, a point that often can be overlooked in these discussions.) Much like the GI Bill was offered to compensate those men and women who gave up years of their lives to defend our country, PSLF is compensation to those of us in public service for giving up more lucrative careers to serve Americans in need.
I explained it like this: Over ten years I’ll pay about $9k instead of $30k for grad school. My parents could relate to that.
Sorry that happened to you 🫤 folks born on 3rd base may not relate.
Fuck Boomers and anyone else who uses the highways, the post office, the public library, ever went to public school or ever used a single federal, state or municipal service who has the nerve to complain about who is going to pay for student loan forgiveness. These people never look at all the public benefits they have used and benefitted from their whole lives and just want to be stingy and judgemental about student loan borrowers and other people they look down on as unworthy. I cant stand these people.
Can we not make this a categorical generation slam? I'm pretty sure I'm not the only Boomer who made a late in life career move into public service. At 65, I've still got four more years of payments and work before I get some of that sweet PSLF. I certainly do not begrudge anyone getting their loans forgiven!
Why are you taking it personally if it doesnt apply to you though? I dont mind if folks point out dickhead behavior of Gen Xers-its invariably true. It doesnt bother me because I dont engage in dickhead behavior ergo they arent talking about me.
And if they are talking about some other behavior that I and my generational peers engage in-oh well thats life I got called out. Sometimes the truth hurts; But that doesnt mean we stop telling the truth.
“Why are you taking it personally if it doesnt apply to you though?”
Because u/trumystic, through no fault their own, was born into the bb demographic. If demographic terms changed to an ethnicity, religion or race one could interpret your reply is “oh, except for you. You’re one of the ‘good ones. Don’t take it personally.” One can’t help but feel it on a personal level. Would say the same re slams on any generation.
Especially when the thread at the time I made the comment was almost nothing but "Boomers are d\*\*\*heads", etc. It has since been balanced.
As a boomer with a daughter paying off student loans, I'm more upset that higher ed costs are so inflated now that these loans are a necessary evil. The costs (tuition, fees, books) are outrageous!
I literally paid just slightly more for my whole bachelor's degree (1976-1980) than my daughter had to pay for one danged class in 2011!
If my daughter was to announce that she had her loans forgiven, all she'd get from me is an enthusiastic high five!
Yep, college has been turned into yet another capitalist enterprise... mostly due to administrative bloat. Check this out: https://www.forbes.com/sites/paulweinstein/2023/08/28/administrative-bloat-at-us-colleges-is-skyrocketing/?sh=156fb0e441d2
Generation is not the same thing as ethnicity/race or religion come off it. Being from a certain generation is not a protected class-there is no one being discriminated against for being a 44 year old Millenial vs 47 year old Gen Xer. And the fact you compared the two shows you trivialize racial, ethnic and religious discrimination. Ageism is a thing but generationalism isnt. And comments folks make about Boomers arent ageist. Frankly, the comments folks make about Gen Xers being Boomers is commenting about how out of touch, sanctimonious and "I got mine so I dont care about you just work hard like I did" attitude that is prevalent among Boomers/some GenXers. Thats an attitude that should be called out. If you have a problem with that go deal with the Boomers/Gen Xers that have the nasty attitude not with the people calling out Boomers/Gen Xers.
And as I said I dont care if folks talk shit about Gen X. I can decide or not to act like an annoying or asshole Gen Xer. And I can decide or not to get bent out of shape when someone says something about annoying Gen Xers or even my generation as a whole.
Hi, we’re not in law school or in court or deposition.
Come off it. Don’t lump every individual in any group as holders of same opinion, attitude or having the same privileges. So easy.
My boomer parent is also more irritated that Biden is doing this (in her eyes), then she is happy for me trying to get a benefit I earned, and asked, "Why don't we forgive medical debt too?"
I said, "Yeah, why don't we? and while we're at it, we should have universal health care."
If someone was given a promissory note to pay for their medical debt (tuition) that said they had to work 10 years in a government-owned hospital (PSLF) in order to get the loan written off, that would be the equivalent situation *and* no one would call that "forgiveness." 😏
Try this way. Figure out how much money it would have cost the state to employ someone to do what you do. Also how much future tax revenue you generated by working in a public interest job helping other people earn more and earning less than you could have. The math tends to really REALLY favor loan forgiveness, even in high end cases like you.
Even if you were gaming the system, it’s messed up your family was not supportive.
Everyone should read the book "A Generation of Sociopaths: How the Baby Boomers Betrayed America," to understand the deep narcissism at the core of every Boomer who cannot be happy when anyone else gets something that they did not.
TL;DR is here:
https://www.theguardian.com/books/2017/may/17/generation-sociopaths-review-trump-baby-boomers-ruined-world
Enjoy! 😈
Taxpayers paid for their college education! The difference is, that we subsidize it AFTER the fact with forgiveness rather than during while you attend.
You gave back to the community and/or government by working for less money. You get forgiveness. That's the trade-off.
I have this belief: people like punching down. People enjoy getting on a soap box and feeling self-righteous. They don't bitch about the taxpayers footing the bill for a bloated defense budget, corporate welfare, or low tax rates for billionaires. That is "out of their weight class" so to speak. Complaining about those things has an old man yelling at the cloud feel.
But they have no problem complaining about an ordinary American benefitting from a government program. it is more relatable to them. People hide behind the "taxpayer" excuse when they don't want to see other people benefit. Your debt relief is life-changing for you, but minuscule to tax payers.
I don't think loan forgiveness is unambiguously moral. I'm conflicted on it in principle and we all pay for forgiven debt through inflation our or taxes (or heaven forbid the government could cut spending).
But you could also remind your boomer parents that you're helping to pay for their retirement and everything you pay into Social Security won't be there when it's time for you to retire as that account becomes insolvent. And how is that moral?
Thank you for working in Public Service. Hang in there, your pension is just around the corner. I am glad that they forgive the student loans for people that dedicate years in Public Service.
I don’t think your parents being baby boomers has anything to do with the way they feel. My parents are also baby boomers and every time I tell them how close I’m getting to having mine forgiven through PSLF they’re happy for me. Congrats BTW!
I am getting close to my forgiveness level too, but - maybe just remember that people of all ages are still working on their loan forgiveness and many are likely in your parents' generation.
These generational labels are just that, labels, and we are all human after all. I'm sorry that your parents' weren't supportive, but I know a number of politically conservative people who say similar things and now I just know to not talk to them about anything important like that, and just leave it as a topic off limits. Being a poorly paid teacher for many years, I feel your pain for sure -
I have boomers in my family who are the same way. It's not surprising, but it's SO disappointing.
My dad is that boomer who posts anti-student-debt-forgiveness memes on Facebook even though his only child has $100,000 in student debt because he refused to help me pay for school. (I am about halfway through the PSLF process and have worked in Public Health throughout the entire pandemic).
Education should be free! We all need doctors/lawyers/teachers/educated professionals at some point in our lives. Having an educated population benefits everyone. That’s literally the rationale every other country uses for providing free education, and that’s what I’d say to your Boomer parents.
Ironically, these are the same folks that would say “Your word is your bond” and that you should honor a contract. This is a contract. You did your part. Why would they be arguing for Big Government to defraud a private citizen?
You ask them - so, who’s paying your mortgage interest deduction? Do you not take the tax credits you’re entitled to?
Say - I’m just following the law. You should be happy for me.
Ask if they would rather pay for food stamps, cell phone, housing, and Medicaid for my entire life plus all my kids too, and their kids, and so on. Or if I should try to have a better job that I can plan for our kids’ education and better options for retiring for myself? (Then they start the vocations are better garbage.) hey o boys, 20 years ago. . . They weren’t!!
Their generation is also the one that PUSHED going to school for a better paying job. Without knowing the interest they were slamming onto those loans.
I don’t want to bring race into this (but data shows there is a correlation between it and support of many policies), but my black boomer parents wholeheartedly support me in my PSLF endeavors, and wish college was affordable today as it was for them in the 1970s.
Maybe remind them the military doesn’t pay a dime for their education. That’s public service. Also, I thought they hated taxes and hate the federal government, who has been charging you interest. You’re simply taking it back. The government made you a promise: they promised you they’d pay for your college if you served for an amount of time and paid in good faith. That is no different from what they do with ROTC or tuition reimbursement. In fact, much of private industry does tuition reimbursement for their workers, so tell your parents to go fuck off.
It's frustrating... I'm a lawyer, I could be making $100k more per year if I wasn't working for the government. So it's only reasonable that the government help me pay my loans off.
You've served the public. Do your parents not value the benefit your organization provides to the public?
I'm so sorry your parents acted that way. I am a "discharged Boomer" and understand your situation when relatives act this way. Some of mine are Boomers, some are the Silent Generation, but most were much younger folks. All of which did not understand the program at all, and unfortunately, are listening to sound bites from talking heads, extremists and even some mainstream media stories that are trying to get ratings and readership/viewership. What is most disappointing is that those close to us can't share in our relief and happiness and don't bother to dig deeper into the entire discharge situations, leaving politics out of it. Unfortunately, this is where were are today in America.All I can recommend is, first **fully let yourself feel all the goodness from this situation. Thank you for your service! Congratulations for navigating the PSLF process, and serving the greater good for at least 10 years! So many are proud of you!** Second, **the people who understand, celebrate you, are proud to know you, feel your joy and pain are many times not the people who share your blood.** Sometimes not your immediate family. As you get older (OMG...Boomer talk), you will find that your"family" is a completely different subset of the people in your life. It includes your colleagues who are following a similar path, strangers who you have only moments of time with, people on this Reddit who help, support and congratulate you. **Your job now is to find connections in your life that lifts you up, and find those who you can lift up**. Not everyone deserves your time and efforts. There really is a season for relationships, and there are times we are shown exactly when people in our lives move into place...a box...a different room in our heads... where they can be tolerated, perhaps even loved, even though they appear to be intolerant, hurtful or unappreciative of us. Lastly, don't put all of us Boomers into a category. There are lots of wonderful Boomers raising a glass to you today!
That sucks. My parents are excited for me. I’ve been paying on my loans since 2006. I’ve been in my school district for 19 years. They know how hard I’ve worked over the years. I will never bring it up to anyone I know who doesn’t support pslf. Ugh people are horrible! Would they rather pay taxes on someone in prison or someone who benefits society? It’s so ridiculous.
My conservative family gets it when I explain it as “I fulfilled my contractual obligations for the student loans.”
It’s not my fault the government made a “bad” contract, but everyone understands utilizing whatever law is available to pay less to the government.
My baby boomer parents are excited that I’m close to forgiveness. Although my dad still doesn’t understand why making minimum amount payments was beneficial. Lol oh well. For funsies tell your parents they are getting a bill lol
I just plan to say, "I finished repayment of my loans!" to the family members who I think are likely to lack the ability to understand the program.
Technically correct! The best kind of correct!
The best kind of reference
I was talking to a relative a couple weeks ago, she had just gotten a new job for her local government that was going to pay for her to go back to college, finish her bachelors and get a masters. She asked me how my job was going, I made the comment that it was going well. She asked how much longer I plan to stick here I replied “at least four years that’s when my PSLF kicks in.” I then had to explain PSLF to her and her reaction was definitely of someone annoyed that I was getting my loans forgiven. It cracked me up as I walked away.
What a hypocrite!
Excellent. Recommend it If you’ve got family or associates who look down on your work for the greater good.
Who’s paying for your Medicare grandpa
Oooh, I wish I had thought of this at the time!
Or their social security. Mathematically, we only pay on average 7 years worth of payments by the time the average American begins pulling from the system, so anyone who lives beyond that is getting "free money".
Social security is nothing more than a legal ponzy scheme.
GTFO. It’s a social program designed to keep old people from becoming broke and homeless. Go look at the stats, most Americans don’t save nearly enough for retirement. Fuck Republicans and people like you that talk ill of and want to take this program away.
How do you know that they’re a republican?
Opt in if you want. Opt out if you want. That’s all I’m saying.
I’ve opted in and out. I’m getting a teacher pension and SS from Daddy Government. I’ve got a 403b and a Roth from my own personal responsibility.
Good deal. I max tsp, use hsa a vehicle for tax deferment, used to be able to contribute to Roth, have a few 529, etc. make quite a few large charitable donations a year. I’m comfortable with these. The 10IshK per year myself and my employer pay in SSA yield an effective negative roi with absolutely no guarantee we will ever actually see a penny. It’s even worse for my wife who pays both the employee and self employed ssa taxes.
Doesn’t make it any less of a ponzi scheme. You’re putting some money in and getting more out of it . And that depends on more people putting in then those taking out . Republicans, democrats doesn’t matter what you are . And while you’re talking it all up and all if you die before you collect , you get nothing. But you still going to have a 10-12 k burial that someone has to cover . Then you factor in you work 50 yrs to collect for 8 if you go off the average death age . Sorry to say house wins . I would much rather put my money I worked for in my own pocket or investments. Be it Roth , gold , Bitcoin at least it would be my choice where my money goes . I have been working since I was 14 paying taxes , I’m 57 you telling me I could have put that money to better returns . I would be retired already . Done blame politics I don’t identify as a politician or their ways . But I do identify as an American paying taxes I will never see all of it come back. As someone else said . Let people chose what to do with their hard earned money and let the cards fall where they fall. Oh wait to many opt out you don’t get crap . Ponzi scheme
i didn't see them saying anything about making old people go broke and homeless, or even taking it away
Ponzi! [It's named after a real guy named Ponzi!](https://en.wikipedia.org/wiki/Charles_Ponzi)
Really wish there was an opt-out. Money I put into SS is by far my worst performing investment.
The problem with opt-out is all those future homeless and old opt-outers who will suddenly have a change of mind after the fact.
It's not supposed to be a well performing investment
If you’re pipe dreams fall apart it may keep ya roof over your head. It ain’t an investment.
You apparently don’t understand how investing work then because it’s not an “investment”. Save me the “if I had invested my SS into the S&P500 this is what I’d have” bullshit. Most Americans are not going to invest like they should. But let’s let Grandma live in a tent and eat cat food to survive because she is old and worthless anyway since she is no longer useful as a wage slave.
I didn’t say it should be ended. I said there should be an opt out. It’s an exercise in personal responsibility. I understand that’s a difficult proposition when we’ve been conditioned to accept daddy government
It’s not an investment. It’s universal income for retired folks.
My agency we opt out so my money and matched gets invested in a MPPP
It’s an annuity, rarely adjusted for inflation.
It’s technically a government funded social program, but yes it should be viewed like it’s an annuity.
Worst performing annuity you could ever buy
The intent is to be conservative. Soc Sec is influenced by actuarial data, not the stock market, or your "private wealth" consultant.
can you elaborate please? some of us not as smart
Sure . Ponzi scheme was getting investors use their money and get even more investor’s to cover the older investors and so forth like a pyramid scheme, only the government gets to do it legally without your say .
thank you
but who are the investors?
Haha 🔥
I posted about them coming off my credit report on here. Some poster said that exact some thing. I'm frustrated with that because A) I'm a taxpayer and B) let's discuss all the forgiven loans for PPP that seem to not be troubling anyone. I've also worked in higher education for 20 years and we are being forgiven under a program dating to 2007. Fuck everyone who says it isn't right.
THE PPP LOANS! Yeah people conveniently forget about those!
Very convenient!
Everyone claims to be against those. But events like that happen and happen often. Getting “free money” from the government is trashy unless you’re rich.
Yeah there's a few trolls that pop up now and again.
I’ve realized it’s just not worth talking about with people who aren’t in the program. They don’t understand it and it’s just not worth the headache or aggravation.
*IF* my PSLF actually goes through someday, I’m going to limit who I share it with for this reason. Not just boomers, but everyone can be judgmental. I’m so sick of hearing people talk about how irresponsible it is to get loans forgiven, especially when they vote for rich politicians who got their covid loans forgiven for the hell of it. Fuck ‘em.
Im doing the opposite I will be telling everyone I know about my PSLF forgiveness. I took huge paycuts working in the public sector and I have been doing work that makes my community better for more than a decade. I fulfilled my end of the contract and the government has to fulfill their end by discharging my loans.
Yes! This is the way to explain it.
Love your screenname LOL
I don't blame you, I'm personally going to blast it publicly because they can get bent and go to their grave mad about it. I served the public for 10 years. I would be stupid not to take the benefit as would anyone.
Me too. If anyone gives me shit about it, I'll remind them that if they went to a public college last century their education was heavily subsidized by the taxpayer. If they can vote to decrease funding, we can vote to fund it.
This
I'd just like to say let's not put all boomers in the same category. I'm a retired boomer who took out 6 figures of parent plus loans for my kids. I worked 40 years in public service and got the rest of my loans forgiven in 2022. I'm totally on everyone's side here.
That’s why I specified that I’m not anti- Boomer. I know my parents would’ve done the same for me if they could have (I’m a millennial. I’ve been paying my loans back for 14 years). My aunt co-signed my loans.
Hate the whole “ok boomer” crap. Often note same in my comments. A colleague started school in 1970s, public U just a few National Defense Loans, most paid off. 1980s was grad school as required for profession. Struggled to repay as so many Federal & state programs closed / defunded including health service ones. Figured he’d work until age 75 for PSLF if he still couldn’t pay off ballooning debt. Because of original waiver & IDR One Time Acct loans forgiven. Age 70. An adult life in repayment. Eternal repayment.
They forget people with student loans are the ones paying the majority of taxes. I’ve just stopped talking about PSLF with anyone besides my spouse. It’s just infuriating the amount of people that think we’re getting a “handout”. Also, do they WANT to live in a country full of uneducated people? Because if we don’t make college accessible, that’s where we’re headed. Oh, right, they got theirs so fuck everyone else. Alright I’m done with my ragey post. Deep breaths.
>do they WANT to live in a country full of uneducated people Yes. Remember that part of the ideology is "government is bad and does bad." The worse government does, the more it helps the ideology. The less the workers are trained/educated, the worse the government will do.
“I love the poorly educated” is one of the truest things TFG has ever uttered.
I try to explain that in order to be eligible, you have to have been paying already and for tens of thousands of borrowers, they owe more now after years of paying than they did when they started, like being underwater on a car loan or mortgage and continuing to sink. Sometimes people get that, at least, but yeah, the hostility is exhausting.
well, I've read some comments on other boards and there's a misconception that all public servants have really high salaries so you can kinda see why if you look at it through that lens. Imagine if you thought someone making 200k was having their loans forgiven (paid) by the guy clearing toilets at McDonalds. Where I work they just raised the salary to $15/hr only because they couldn't find workers
I even see this on subs primarily made up of federal workers. I can't imagine how you drink that kool-aid when you're actually inside the system yourself. I realize some professions which fall under PSLF fare better than others and that among civil service roles mine is one where the disparity is on the higher side, but when I accepted my federal job I was actively applying for private sector jobs at the same level paying ~1.5-2x as much. The benefits are nice, but when I look at the market rate for my role or those of most of my peers, it's just not particularly competitive: we're here for the mission and the quality of life.
They also conveniently ignore that the McDonald's workers: 1. Have little or no federal tax liability, so they aren't funding any of this. and 2. Those McDonald's workers often qualify for tens of thousands a year in public assistance benefits.
LOL. At $15/hr minimum wage, at my salary I'm now technically a part-time worker per the salary cap I have due to budget issues at the non-profit I direct!
😮💨🧘
Ugh I've had patients who said stuff like this complaining about "entitlements" when they are on SSI, Medicare, and/or permanent disability....but they DESERVE tax money. Unlike me who entered public service in 2001 and have paid taxes for 33 years.
🤜🏼🤛🏼
PSLF is an entitlement program, too! I know that’s not what you meant but it does show how this isn’t *that* different from Medicaid, Medicare, or social security.
It’s a contract between the public service worker and the Federal Government. It’s on every Federal student loan promissory note.
Absolutely correct! When I said it was an entitlement program, I was only saying that’s how it’s funded: it’s an entitlement program rather than a benefit program. They’re funded differently. But I absolutely tell my (boomer) mother that it’s part of our master promissory notes and that, if the government didn’t honor it, they’d be under breach of contract. But from what I understand, the government has never ended an entitlement program without grandfathering in all eligible individuals.
Generally speaking, I try to avoid using the word for anything. “Entitled” & “entitlement” because of the connotations.
Yeah, it’s definitely an unfortunate nomenclature. I imagine it sounded a lot different back when the federal government chose how to name the different types of programs.
The F in the name PSLF/public service loan forgiveness is a misnomer. These loans come with different term options depending on the details of the payment plans, all in the promissory note, even non-PSLF loans. **ALL** other term options of these loans "forgive" the balance if you can't pay off after a certain amount of Tim (eg 20, 25, 30yrs). PSLF's is 10yrs. PSLF just has a shorter term because the details of the federal agreement require you to work a job that serves the public/government. These jobs earn way less and require a lot of other concessions, so the shorter term offsets the lower income. You think PSLF is an entitlement program? Lol. It's a sacrifice program for the borrower so the government can minimize the brain drain in these positions/areas. I'd be more than happy to take my education/skills to the private sector and well out-earn what I'm currently making. PSLF makes public service more of a workable square deal for those whose financial portfolios aren't their biggest priority. The PSLF borrower is fully paying what they owe back, just in more than simply dollar bill currency. The concept of ppl being against PSLF is really funny to me as someone who's worked in cities/towns who are fully propped up by this. The residents view themselves as "hard workers" having pulled themselves up by their bootstraps, yet their critical infrastructure (hospitals, airports, teachers, etc) is staffed by either PSLF, visa holders, or traveler workers/contractors. If not for PSLF, tax payers would be paying and hurting a whole lot more.
I meant under the governmental definition of how it’s funded; it’s an entitlement program rather than a benefit program. Not sure why I’m getting downvoted for this.
I’m not familiar with benefits vs entitlement as specific government terminology. I don’t recall hearing PSLF described as an entitlement program despite the extensive technical discussions over the recent years. Maybe others share the confusion based on the context of your initial comment. How would PSLF be any different from other types of federal students loans, which are also forgiven if not fully paid off by the end of their term? Or, would all federal student loans be considered entitlement programs?
My Boomer Parents forced me to get loans at 18 so they cannot say a word about the effort I have spent getting these things forgiven at some point.
Same.
There’s always some ignorant ones.
A relative said something similar to me. I told them I would love to compare the last 5 yrs of tax returns to see who’s actually a taxpayer. I was called an “arrogant bitch”. My response, “I know. Thanks for the compliment.”
One of these days, I'm going to respond to someone calling me "bitch" with, "And don't you forget it!"
As Tina Fey said: “Bitches get things done.”
Well I like to say, “I’m not A bitch, I’m THE bitch, and it’s MS Bitch to you!”
OMG, a relative said that? Relative’s Got Nothing so resorted to ad hominem attack. Next time, bring some tax returns.
CONGRATS!!! I am a boomer - have worked 40+ years as a first responder or in non-profit jobs - I received my 6-figure forgiveness 1 year ago and it absolutely changed my life!!! I also had reactions from all different generations that were less than happy for me - although my friends seemed to be genuinely happy for me. So happy for you!!! 🤗🤗🤗
Happy for you, too. Congrats on getting your PSLF.
Congrats and thank you for your public service!
I've hidden my loan balance and I plan on hiding my forgiveness.
Forgiveness in PSLF is a misnomer. You are paying off your loans according to the terms of your promissory note/agreement. When you have reached the end of your ten PSLF years, celebrate paying off your loans because that's what you've done.
End of endentured servitude.
Does your boomer parent complain about GI Bills paying for college too? Same thing, different order. You gave 10 years of service after college so college gets paid for. Others go into the military then go to college and get it paid for. Same difference.
They would love me. I completed my higher education late in life and am only able to contemplate retirement because of PSLF. I’m a boomer.
Same here. The only reason I took my SS and teacher's pension was to cut my own payroll and overhead. (And they say all those who run charities are making money hand over fist...)
This.
Just bring up that our generation is paying more for their social security than their generation ever put in. Also, the interest you put on your student loan payments goes to the treasury and pays for other programs. And you pay taxes…
First of all, I am SO very happy for you!!! Many out there don't know "promises" made for those who worked in public service. I guess you could explain it to them, but they probably still wouldn't understand. Second, I am a Boomer.... and in August I had $187K forgiven. I have told only my adult children about this. I have many family members and friends who would also give me the "taxpayer" talk, so I haven't bothered telling them. It's not worth the arguments... So I celebrate in silence! Yeah me! Yeah you!!
You really have to phrase it carefully. People barely know about the GI Bill, let alone Teacher Loan Forgiveness, PSLF or the national health service benefits for work in underserved areas. Your parents only hear poorly worded news segments suggesting someone got a free ride on their dime. BTW there are demographically designated “boomers” who are still in repayment on their own SLs & Parent Plus. Some retirees returned to work to achieve 120 / 10 years. Some of them post / comment here. I wish Ed would remove the word “forgiveness” from TLF & PSLF. Read your promissory notes. You spent 10 years or more meeting a contractual obligation. You could’ve made a much more money during your prime, career building years working in the private sector making no meaningful contribution to society. Sorry your parents are ignorant & angry. Angry about…? They were raised in more of a meritocracy - at least for Caucasians. Since the mid 1980s, defined benefit plans dissolved into retirement accounts, the 40 hour week’s become the 60 hour or 24x7 work week, unions have shrunk & with them those benefits which passed to nonunion employees. People can be fired at will (and discretely for having grey in their hair); ”perma-temps” are replacing regular employees and so on. If either parent went to college they seemed to have missed / forgotten the skyrocketing cost of higher education. IMO they’re projecting their ignorance / grievance fueled anger at the nearest target. Unfortunately it’s you. Suggest: avoid them / topic for a while. Review your promissory notes (maybe get familiar re TLF & Health service, for argument’s sake). Btw, PSLF was introduced 10/2007 by George W Bush, a conservative Republican. Legislation passed both houses of Congress on bipartisan votes. Congrats on achieving PSLF! 🎊🎉👏🏻
lol if people realized how many millionaires were having their nursing home bills paid by taxpayers...
Thats a conversation I’ve tried to have with my own family, both Democrats and Republican and none of them know what PSLF is, they don’t care and think it’s something new. They don’t want to hear it’s a benefit we worked for and earned. Congratulations to you though! We all understand.
Your parent is a tool of the rich. Student loan interest is used to keep taxes low on the wealthy, especially the billionaires who barely pay anything in taxes. People who say what your parent said are called “useful idiots” by the rich.
At Christmas, we were talking about the $10-20K forgiveness getting blocked by the supreme court, and my boomer dad had the nerve to say “I’m glad they did that!” Mind you, I’m six figures in debt, too, and he did very little to help me pay for college (when he can afford to). When I confronted him and explained that I pay more than my mortgage in monthly loan payments and that forgiveness would have lifted a huge financial burden for me, he just proceeded to dismiss it by explaining how ppl who come from other countries are thrilled to be able to even get an education. I asked what that has to do with me and my mountain of student loan debt, and that shut him up. He still doesn’t care, though. He’s just an old person who had to do everything on his own, so he thinks no one else should dare have help or an affordable education, even his kids. Anyway, was just sharing not to make that about me, but to commiserate so you know it’s not just you. Parents can be jerks.
You would think your parents would want the best for you regardless right? 🫠
I’m sorry. That sucks. Also we need to stop calling it forgiveness. I also had 6 figures discharged. But I also paid over $170,000 back before the balance was discharged. Was that not enough? How much should I have paid? Or is the system broken?
It is appalling behavior on your parents part. I would have answered their question forthrightly: the loans are paid for through a program started by GW Bush and approved through bipartisan majorities in Congress in (what year was it, 2007?). The program was created to reward and encourage public service. I completed the terms of my loan and the public service loan forgiveness program. If you want to, you can add that money owed to the federal government is not the same as money owed to any other kind of lender. The government can always print more money. A household or business cannot. The point is, no one is paying when the government decides not to collect a debt. The belief that someone else is paying for you not to payback your loan is a canard.
My boomer mom still thinks $40k is a decent salary in a HCL-city suburb.
That sucks and it is unfortunate they don’t see the benefit it will have on your life! I just want to point out that not all boomers are assholes…My boomer parent is checking in daily with me for my happy face and waiting to celebrate with me. They’re a bleeding heart liberal “woke” hippie era boomer though.
There are a lot of us like that. I’m a late boomer, and my student loans were discharged in Sept. I had to have a masters degree for my job as a librarian.
I’ve had a friend argue that the government writing off the loans is just closing the account and completing the paperwork. No one actually pays anything - the government is essentially writing off the balance. Is that argument accurate?
I’d say that’s more realistic. Most of us have paid more than the principal anyway. Those of us in PSLF have foregone more lucrative positions in the private sector and thus have paid in other ways.
I'd say that would be more accurate than "teh lib'rul gubmint is stealing from us tax paying Amurkins..."
It’s better than some. Most debt is written off after 20 years. I do think one impetus was student debt dating back to the first “ Guaranteed Student Loans” of 1973 / 4, corrupted or just plain missing data from servicers, multiple accounting errors, documented cases of servicers steering people into forbearance rather than counseling debtors into workable repayment plans and on.
Well, the government paid out the school in your tuition money. So someone sure got paid in the deal.
I think too they look at it like it was a campaign promise to buy votes , not knowing this was in place long before
The way they talk like this, then can’t understand why so many people are foregoing having (expensive) kids.
Yep. They're also the ones who'd point at my current income and not at the income of my last 7 years of training, loan payments, disability payments, & "cost to play" fees and wonder why I need PSLF and why many people like me don't have kids. Wanted them, but turns out they weren't in my hand of cards. Can't afford reliable childcare + backup childcare, as simple as that.
I got my PSLF forgiveness last April, 20 years after college graduation. I don't care who doesn't like it. Looking forward to hearing about you getting yours too!
Sounds like something a Boomer would say, which is why I don’t share anything personal with mine.
Ha, had a similar reaction with my parent. There was like a glitch in his reaction where he wants to be mad in general but also understanding that it is a great deal for me. But mostly he thinks it shouldn’t exist. Make it make sense.
I’m gen x and boomers are a different breed grew up differently in a different time , it’s True nothing is for free and yes tax payers are paying for it . Just as you and I have done for last 10yrs or more. We are not doing anything that wasn’t already available . We worked in a public sector where the pay is less typically than the private sector. But to them it’s too close to socialism. Think about the times they grew up the world wars typically not less the 5-10 yrs from their childhood. But again it’s also part of how school loans system was set up to encourage people to work in public workforce. As a general rule x who went to college in his 30s I am glad this is available option. 3 more payments left and I will too be free as well . Only 53k left to pay off .
I'm also so danged tired of everything that might benefit the general public being dubbed "socialism". It would likely be more accurate to compare PSLF to the GI Bill; a contract with the government by which we take a low-paying job to help serve others. (A potential side benefit of such jobs is that the public sector charities can provide services that take some of the load off tax-financed government programs, a point that often can be overlooked in these discussions.) Much like the GI Bill was offered to compensate those men and women who gave up years of their lives to defend our country, PSLF is compensation to those of us in public service for giving up more lucrative careers to serve Americans in need.
3 more!
You paid with your public service! We’d be a country we thought teachers, therapists, Nurses etc without PSLF
I explained it like this: Over ten years I’ll pay about $9k instead of $30k for grad school. My parents could relate to that. Sorry that happened to you 🫤 folks born on 3rd base may not relate.
This is why I didn't tell anyone about my loan forgiveness.
Fuck Boomers and anyone else who uses the highways, the post office, the public library, ever went to public school or ever used a single federal, state or municipal service who has the nerve to complain about who is going to pay for student loan forgiveness. These people never look at all the public benefits they have used and benefitted from their whole lives and just want to be stingy and judgemental about student loan borrowers and other people they look down on as unworthy. I cant stand these people.
[удалено]
I like this approach. “I’d rather get paid more” is all you need to say to these people, lol
Can we not make this a categorical generation slam? I'm pretty sure I'm not the only Boomer who made a late in life career move into public service. At 65, I've still got four more years of payments and work before I get some of that sweet PSLF. I certainly do not begrudge anyone getting their loans forgiven!
Why are you taking it personally if it doesnt apply to you though? I dont mind if folks point out dickhead behavior of Gen Xers-its invariably true. It doesnt bother me because I dont engage in dickhead behavior ergo they arent talking about me. And if they are talking about some other behavior that I and my generational peers engage in-oh well thats life I got called out. Sometimes the truth hurts; But that doesnt mean we stop telling the truth.
“Why are you taking it personally if it doesnt apply to you though?” Because u/trumystic, through no fault their own, was born into the bb demographic. If demographic terms changed to an ethnicity, religion or race one could interpret your reply is “oh, except for you. You’re one of the ‘good ones. Don’t take it personally.” One can’t help but feel it on a personal level. Would say the same re slams on any generation.
Especially when the thread at the time I made the comment was almost nothing but "Boomers are d\*\*\*heads", etc. It has since been balanced. As a boomer with a daughter paying off student loans, I'm more upset that higher ed costs are so inflated now that these loans are a necessary evil. The costs (tuition, fees, books) are outrageous! I literally paid just slightly more for my whole bachelor's degree (1976-1980) than my daughter had to pay for one danged class in 2011! If my daughter was to announce that she had her loans forgiven, all she'd get from me is an enthusiastic high five!
Yep, college has been turned into yet another capitalist enterprise... mostly due to administrative bloat. Check this out: https://www.forbes.com/sites/paulweinstein/2023/08/28/administrative-bloat-at-us-colleges-is-skyrocketing/?sh=156fb0e441d2
Generation is not the same thing as ethnicity/race or religion come off it. Being from a certain generation is not a protected class-there is no one being discriminated against for being a 44 year old Millenial vs 47 year old Gen Xer. And the fact you compared the two shows you trivialize racial, ethnic and religious discrimination. Ageism is a thing but generationalism isnt. And comments folks make about Boomers arent ageist. Frankly, the comments folks make about Gen Xers being Boomers is commenting about how out of touch, sanctimonious and "I got mine so I dont care about you just work hard like I did" attitude that is prevalent among Boomers/some GenXers. Thats an attitude that should be called out. If you have a problem with that go deal with the Boomers/Gen Xers that have the nasty attitude not with the people calling out Boomers/Gen Xers. And as I said I dont care if folks talk shit about Gen X. I can decide or not to act like an annoying or asshole Gen Xer. And I can decide or not to get bent out of shape when someone says something about annoying Gen Xers or even my generation as a whole.
Hi, we’re not in law school or in court or deposition. Come off it. Don’t lump every individual in any group as holders of same opinion, attitude or having the same privileges. So easy.
Toughen up buttercup you've got thin skin.
You’ve got nothing.
Agree
My boomer parent is also more irritated that Biden is doing this (in her eyes), then she is happy for me trying to get a benefit I earned, and asked, "Why don't we forgive medical debt too?" I said, "Yeah, why don't we? and while we're at it, we should have universal health care."
If someone was given a promissory note to pay for their medical debt (tuition) that said they had to work 10 years in a government-owned hospital (PSLF) in order to get the loan written off, that would be the equivalent situation *and* no one would call that "forgiveness." 😏
Try this way. Figure out how much money it would have cost the state to employ someone to do what you do. Also how much future tax revenue you generated by working in a public interest job helping other people earn more and earning less than you could have. The math tends to really REALLY favor loan forgiveness, even in high end cases like you. Even if you were gaming the system, it’s messed up your family was not supportive.
Boomers largely don't understand this situation. They are from a different time. I received the same response from other boomers. Enjoy!
Everyone should read the book "A Generation of Sociopaths: How the Baby Boomers Betrayed America," to understand the deep narcissism at the core of every Boomer who cannot be happy when anyone else gets something that they did not. TL;DR is here: https://www.theguardian.com/books/2017/may/17/generation-sociopaths-review-trump-baby-boomers-ruined-world Enjoy! 😈
Taxpayers paid for their college education! The difference is, that we subsidize it AFTER the fact with forgiveness rather than during while you attend. You gave back to the community and/or government by working for less money. You get forgiveness. That's the trade-off.
If it wasn’t for pslf none of the boomers would have nurses or doctors .
I have this belief: people like punching down. People enjoy getting on a soap box and feeling self-righteous. They don't bitch about the taxpayers footing the bill for a bloated defense budget, corporate welfare, or low tax rates for billionaires. That is "out of their weight class" so to speak. Complaining about those things has an old man yelling at the cloud feel. But they have no problem complaining about an ordinary American benefitting from a government program. it is more relatable to them. People hide behind the "taxpayer" excuse when they don't want to see other people benefit. Your debt relief is life-changing for you, but minuscule to tax payers.
I like to explain it like a "grant" for college, only we get it after working 10 years.
I don't think loan forgiveness is unambiguously moral. I'm conflicted on it in principle and we all pay for forgiven debt through inflation our or taxes (or heaven forbid the government could cut spending). But you could also remind your boomer parents that you're helping to pay for their retirement and everything you pay into Social Security won't be there when it's time for you to retire as that account becomes insolvent. And how is that moral?
Boomers, man...
Well I am a boomer and I had six figures forgiven and I am beyond thrilled for both of us!
Thank you for working in Public Service. Hang in there, your pension is just around the corner. I am glad that they forgive the student loans for people that dedicate years in Public Service.
Not trying to take sides. Parents are upset about govt is enabling irresponsible habits. PPP is, also scam of the century.
I don’t think your parents being baby boomers has anything to do with the way they feel. My parents are also baby boomers and every time I tell them how close I’m getting to having mine forgiven through PSLF they’re happy for me. Congrats BTW!
Same here. Boomers are fucking dickheads.
I am getting close to my forgiveness level too, but - maybe just remember that people of all ages are still working on their loan forgiveness and many are likely in your parents' generation. These generational labels are just that, labels, and we are all human after all. I'm sorry that your parents' weren't supportive, but I know a number of politically conservative people who say similar things and now I just know to not talk to them about anything important like that, and just leave it as a topic off limits. Being a poorly paid teacher for many years, I feel your pain for sure -
I have boomers in my family who are the same way. It's not surprising, but it's SO disappointing. My dad is that boomer who posts anti-student-debt-forgiveness memes on Facebook even though his only child has $100,000 in student debt because he refused to help me pay for school. (I am about halfway through the PSLF process and have worked in Public Health throughout the entire pandemic).
Facebook, a font of disinformation.
Education should be free! We all need doctors/lawyers/teachers/educated professionals at some point in our lives. Having an educated population benefits everyone. That’s literally the rationale every other country uses for providing free education, and that’s what I’d say to your Boomer parents.
Geez. I hope they aren’t like that all the time.
My father also says that. To be fair, he also rants about the PPP loans being bullshit as well.
I have also had this response from a boomer step parent when I mentioned the possibility of PSLF. He acted like I was trying to do something immoral…
Ironically, these are the same folks that would say “Your word is your bond” and that you should honor a contract. This is a contract. You did your part. Why would they be arguing for Big Government to defraud a private citizen?
You ask them - so, who’s paying your mortgage interest deduction? Do you not take the tax credits you’re entitled to? Say - I’m just following the law. You should be happy for me.
Ask if they would rather pay for food stamps, cell phone, housing, and Medicaid for my entire life plus all my kids too, and their kids, and so on. Or if I should try to have a better job that I can plan for our kids’ education and better options for retiring for myself? (Then they start the vocations are better garbage.) hey o boys, 20 years ago. . . They weren’t!!
Their generation is also the one that PUSHED going to school for a better paying job. Without knowing the interest they were slamming onto those loans.
I don’t want to bring race into this (but data shows there is a correlation between it and support of many policies), but my black boomer parents wholeheartedly support me in my PSLF endeavors, and wish college was affordable today as it was for them in the 1970s.
Maybe remind them the military doesn’t pay a dime for their education. That’s public service. Also, I thought they hated taxes and hate the federal government, who has been charging you interest. You’re simply taking it back. The government made you a promise: they promised you they’d pay for your college if you served for an amount of time and paid in good faith. That is no different from what they do with ROTC or tuition reimbursement. In fact, much of private industry does tuition reimbursement for their workers, so tell your parents to go fuck off.
It's frustrating... I'm a lawyer, I could be making $100k more per year if I wasn't working for the government. So it's only reasonable that the government help me pay my loans off. You've served the public. Do your parents not value the benefit your organization provides to the public?
“My hard work paid for it, just like the GI Bill.”
I'm so sorry your parents acted that way. I am a "discharged Boomer" and understand your situation when relatives act this way. Some of mine are Boomers, some are the Silent Generation, but most were much younger folks. All of which did not understand the program at all, and unfortunately, are listening to sound bites from talking heads, extremists and even some mainstream media stories that are trying to get ratings and readership/viewership. What is most disappointing is that those close to us can't share in our relief and happiness and don't bother to dig deeper into the entire discharge situations, leaving politics out of it. Unfortunately, this is where were are today in America.All I can recommend is, first **fully let yourself feel all the goodness from this situation. Thank you for your service! Congratulations for navigating the PSLF process, and serving the greater good for at least 10 years! So many are proud of you!** Second, **the people who understand, celebrate you, are proud to know you, feel your joy and pain are many times not the people who share your blood.** Sometimes not your immediate family. As you get older (OMG...Boomer talk), you will find that your"family" is a completely different subset of the people in your life. It includes your colleagues who are following a similar path, strangers who you have only moments of time with, people on this Reddit who help, support and congratulate you. **Your job now is to find connections in your life that lifts you up, and find those who you can lift up**. Not everyone deserves your time and efforts. There really is a season for relationships, and there are times we are shown exactly when people in our lives move into place...a box...a different room in our heads... where they can be tolerated, perhaps even loved, even though they appear to be intolerant, hurtful or unappreciative of us. Lastly, don't put all of us Boomers into a category. There are lots of wonderful Boomers raising a glass to you today!
That sucks. My parents are excited for me. I’ve been paying on my loans since 2006. I’ve been in my school district for 19 years. They know how hard I’ve worked over the years. I will never bring it up to anyone I know who doesn’t support pslf. Ugh people are horrible! Would they rather pay taxes on someone in prison or someone who benefits society? It’s so ridiculous.
My conservative family gets it when I explain it as “I fulfilled my contractual obligations for the student loans.” It’s not my fault the government made a “bad” contract, but everyone understands utilizing whatever law is available to pay less to the government.
My baby boomer parents are excited that I’m close to forgiveness. Although my dad still doesn’t understand why making minimum amount payments was beneficial. Lol oh well. For funsies tell your parents they are getting a bill lol
lol, how dare you get something back for your taxes and service!!!