Everything seems to be tied up in the courts right now, leaving most of us who have student loans stuck in limbo. Depending on who wins, it could stay that way for who knows how long, or the Education Department might be dismantled, turning our loans into standard term loans with no income adjustments. I’m not looking for forgiveness, just hoping they lower the interest rate and give us a decent income-based repayment plan. It’s frustrating not knowing when or how much we’ll have to pay.
There’s an announcement coming later this week.
Oli said:
There’s an announcement coming later this week.
Paywall on that. Can you give a quick summary?
Oli said:
There’s an announcement coming later this week.
Paywall on that. Can you give a quick summary?
Before Biden leaves for Germany this week, he’ll announce something for public service workers. No further details yet though.
While student loans are important to people in this forum, it’s not really a top issue for most people in this election.
Tanner said:
While student loans are important to people in this forum, it’s not really a top issue for most people in this election.
Maybe, but a lot of folks will be hit with $1000+ payments in just a few months if nothing changes.
@San
And most folks won’t be. It’s kind of crazy to think someone else’s loan payment should decide how people vote. Like I said, my student loans aren’t my top priority, and I’m sure many others feel the same.
@Tanner
Income-based repayment plans aren’t enough for many, and with the courts involved, even those plans are in danger. It might not be your priority, but this is serious for a lot of us.
Chance said:
@Tanner
Income-based repayment plans aren’t enough for many, and with the courts involved, even those plans are in danger. It might not be your priority, but this is serious for a lot of us.
PSLF isn’t a plan, but yeah, IBR and ICR still exist. I just don’t see student loans being the biggest issue in this election. It’s important, but other things are much higher on my list.
@Tanner
Totally understand. We all have different priorities. For me, student loans are up there, but they aren’t my top concern either. There’s just so much at stake in this election.
@Tanner
I’m not saying it should control how people vote. My point is that we don’t have any clear idea what’s going to happen with these payments in three months. Almost all income-based plans were replaced with SAVE.
@San
You’re right about the lack of info. I just don’t think it’s something that’s going to influence how a lot of people vote. Some plans still exist, even if SAVE is on hold.
Tanner said:
@San
You’re right about the lack of info. I just don’t think it’s something that’s going to influence how a lot of people vote. Some plans still exist, even if SAVE is on hold.
SAVE replaced almost all of the plans. I was automatically switched over.
Tanner said:
@San
It replaced REPAYE, but IBR and ICR are still available. People weren’t forced to switch.
I got switched too, and my payments went up by over $200 a month even though I’m making less now. Never missed a payment since 2017. People are drowning in student loan payments, and it should be a priority because it’s about taking care of each other, not just ourselves.
Tanner said:
@San
It replaced REPAYE, but IBR and ICR are still available. People weren’t forced to switch.
Everyone on REPAYE got switched to SAVE automatically.
Tanner said:
@San
It replaced REPAYE, but IBR and ICR are still available. People weren’t forced to switch.
Yeah, same here.
@San
Why are your payments so high? Even the old plans didn’t have such high payments for most people.
Tanner said:
While student loans are important to people in this forum, it’s not really a top issue for most people in this election.
Really? It’s the only thing I care about because it directly affects me. Millennials with student loans are a huge voting block now, bigger than boomers. But we’re also the least likely to vote, so that’s a problem.
Tanner said:
While student loans are important to people in this forum, it’s not really a top issue for most people in this election.
Agreed. Student loans aren’t the biggest issue in this election.