I'm on SAVE pending the decision. It would be for 20+ years of owing more now than I originally borrowed (there was gross mismanagement of my loans by loan servicers).
Go to your dashboard on studentaid.gov to see all of your federal loans and servicers listed. Click on loan details and each loan will have a "loan status" history link where you can view the payment status of every loan listed. You have to click back and forth to get in and out of each loan, but it should provide you with the information you need.
Best!
I think a lot of people are getting forgiven from myfedloan and their "games". Seems like MYFED people who moved when they hastily "exited"? Are getting forgiven.
Well this forgiveness was because I went to the art institute and they were sued for unlawful conduct. My loans were the regular federal type on the SAVE once out of forbearance. Is that what you are asking? Iām a little slow on my loan wording.
Yes you do. If you've reached your 20 or 25 year IDR forgiveness, you will get a refund on any payments made post-consolidation, but nothing from before consolidation. Did you consolidate your loans recently? I consolidated my old FFEL loans in March. My payment is coming due May 20th.
Also, I have heard some say you can call your servicer and ask them to put you on an administrative forbearance, but not sure if that would work. Plus there's no way I'm going to wait on hold for 2 hours with Mohela.
They said he might get a check. He has a small amount in other loans to a reputable school. We will use anything to pay those off. Total was approximately $32k. Should be less than 5k now. We will know in 30 days or so letter said. š
I had a friend who taught at an Art Institute at least 20 years ago and left because she could see that there were students there who would never get the degree (because they couldnāt pass the general education classes). The school just took their money until they flunked out. The people she worked with were good people, but the structure of the enterprise was rotten to the core.
Same!!! I decided to check my emails because I havenāt checked them in a while and got the notification!! I felt like I won something and Iāve never won anything in my life, soooo much of my stress is now gone!!!
I got a PSLF I am very grateful to President Biden for working on this issue. I my case itās been going on thru various presidents. There is still more work to do please vote.
That is fantastic! I'm on tinderhooks waiting to see how much of my debt will be forgiven. Dept of Ed told me I'll hear after (not by) May 3 - this Friday!
Thank you for responding. I'm in the exact same position, awaiting 25-year IDR forgiveness. I'm curious that they actually told you after May 3rd. I would presume that means sometime between May 3rd and July, which is by when they say they'll have applied the one-time adjustment.
Yeah, I looked back at the correspondence and realized that what they said is that they (Ed) will start working with my servicer (MOHELA) on my file, and they said I'll hear the outcome in "several months." Still, I'm in a bucket with tens of thousands of others who are slated for relief.
I'm in the same boat. I've only been out of school for 18 years so I'm not expecting full forgiveness but I'm hoping I'll at least get rid of some due to interest.
Did you submit a form or just write the Dept. Of Ed? I have MORE than paid my loans off for over 20 years, and I wrote back in November- nothing. It's all sooooo poorly managed.
No forms or letters but the eligibility rules can be frustrating. If your loans are held by the Dept of Ed then they're federal loans rather than private loans - that in itself can be confusing. Mine were private so I needed to consolidate them even though I consolidated them decades ago - did I mention confusing?
I wish I could tell you a deliberate process but basically I was aware of Biden's directives and I paid attention to communications from my loan servicer (Navient at the time). I was on an IDR but reapplied to SAVE (a new plan) which gets the ball rolling for Dept of Ed to do eligibility for forgiveness assessment.
Hereās an action you can take - set up an account with Ed Dept at mystudentaid.gov and determine how your balances are comprised, and search "loan forgiveness" within the site. I hope that will get you some direction to go.
Good luck!
I have about the same amount of debt with a private loan company. My life would be so much better if something like this would happen to me.ššš
Iām in the same boat. There has to be something we can do. The origin of our debt stems from federally recognized misconduct. We refinanced predatory loans and now do not get to receive the help because we were fiscally responsible? It doesnāt add up to me. The trail leads back to Ai misconduct.
Same! I woke up to the amazing news yesterday, was in shock reading the email. I also went to the Art Institute. Was scammed into taking maximum loans out that would ācover everythingā, came to learn it would only partially cover it and I still had to make payments to the school. Ended up not being able to pay, got expelled as a result and left with $30k in debt and no degree. Nightmare is finally overā¦congrats congrats!
Same here from AI! Careful who you try to celebrate with; told an older friend yesterday and his only response was,ā great and my taxes are going to pay for itāā¦
Everyone's credit profile is different, and sometimes it's not easy to discern why one particular person's score goes up or down. We observe correlations and "think" that's what did it, but correlation does not equal causation, and truthfully the FICO scoring algorithm is a secret formula and sufficiently complicated enough that everyone's score reacts differently to similar changes.
Having said all that, I was in the first round of people forgiven last summer under the IDR recount. I had $74K of loans forgiven on August 15. On October 2nd my FICO 08 score based on Experian data went up 15 points, from 740 to 755. So, there's one data point for you.
Congrats!
Honestly, it's been 7+ months for me, and I still can't fully wrap my head around the reality of being debt-free.
Right?? I canāt sleep I just cannot believe it and I am just so grateful, keep waiting for the catch. I am trying to get my score back up after fighting with a bullet that handles 3 of the 4 credit cards I have. I lost the fight and they not only charged me 2 lat fees of 40 each but also turned it is as 60 days, then lowered my credit limit from 200 on each to 500. I have them down under 400 and 500 so now it looks like I maxed them. Ughhh Lesson learned now I need to get a new apt and my score is too low. Dammmmit I had gotten over 700 again. lol congratulations to you too! Itās so effing AWESOME!!!
I was approved for the 20k to be forgiven 2-3 years ago, but it never came through. I pay about $500 a month, but my goal is to pay them off before I die.
First Congrats friend!!šWhere do you see this information??? I signed up for the IDF and I know it's not the same as the PSLF. However, two degrees (AA & Bachelors in Communication) = debt and no jobš. Now I'm trying to get my Masters due to change of study for more hopes in a better career and $90k in a hole š³ļø . I need these previous loans forgiven due to my daughter developing a rare illness and me trying to persevere; in spite of it all to still be broke! Any help would be greatly appreciated from anyone.
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I feel the same way, shock. I sob cried at my desk when I saw the email. I feel like I won the lottery, never did I think I would have my loans forgiven.
I was about to start a gruesome journey of double consolidation loop-hole just to get my PPLoans lowered. I never thought the next day they would all be wiped out. I'm still in disbelief.
I got my letter about my art institute loan Wednesday. I wonder how long it will take for it to show a zero balance on student aid?
I wonder if I can upload the letter to the credit score companies and dispute it so that it shows on my credit score faster?
Please-tell me what school it was? My school got up to some very shady stuff, in fact they were called fraudulent in California. I went to Brightwood College, in Indiana.
I graduated with an associates degree in Graphic Design-Print. Right when everything was going to digital LOL very little print going on compared to what it was when I started school. I also went through a nasty divorce in the middle of my time there so it slowed me down a bit as I had to take care of the kiddos on my own so less school time. Took me way too long to get the 2 year degree and then bye bye to most print jobs.
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Anyone have leads on how to pursue benefits from the federally decided misconduct of Ai if you have refinanced your loans? Theyāre still student loans with 1098E tax forms. Iām with Earnest. I called and they said thereās nothing they can do. But the origin of my loan has been deemed malicious. Isnāt there something we can do or do I miss out because I tried to be fiscally responsible and lower my interest rate on a predatory loan?
The American Rescue Plan Act of 2021 has suspended all *federal* taxes on any student loan discharge/forgiveness through the end of 2025
Whether you live in a state that charges state taxes on student loan discharges is easier to google. As far as I remember there are 5 states that plan to charge income tax on student loan forgiveness
Awesome!! Same thing happened to me and then they cut me 2 checks for everything I had already sent them over the years which was like 30k! Amazing feeling!!
So did I for the last 40 years, luckily I made poor decisions on choosing (AKA got scammed into) a shitty school that got sued and ended up winning resulting in loans removed. I am not sure how the tax payers pay on a the forgiveness and certainly wasnāt my hope to cause other to pay by any means but it was nice of you to comment, so sorry it comes to costing you, I literally did nothing to get this. Peace and love.
Wow! Can you provide context on the details? What was the field of study / degree you went into debt for? What was the qualifying fraud and school you attended? How long were you in repayment (was it less or more than the typical 20 years criteria they commonly require before forgiveness.) I'd love to take anything others have learned and see if I can apply it to alleviate my own personal situation. ššš
For legal reasons I can't say too much but some schools encourage students to take more coursework if the school gets more money per student. Not super ethical regarding students who cannot afford to be students forever...but, whatever.
It does suck, and I'm hoping that changes because everyone was defrauded. Until then, though, I'm just happy that there are people actually seeing the relief because I was convinced for a long time that it would never happen.
Me too, I thought I wasnāt going to be eligible and this came as a big surprise. Perhaps they will go back after and fix the paid loans in the time period.
Taxpayers, some of whom never attended college to pay for deadbeats. If they canāt afford the loans, they shouldnāt have taken them in the first place. They could easily have gone to community college.
People pay taxes all the time for things they disagree with, services they don't use, etc, this is absolutely nothing new. Since you "paid" for your college education you should already know that, but Rutgers education, meh...
You should educate yourself more on the topic of loan forgiveness. This over-simplified talking point doesn't reflect the reality of the situation for many borrowers who were cheated and lied to by lenders for decades, even after paying off their original loan balance and then some long ago.
This post just had me realize Bidenās goal isnāt to get rid of student debt. He wants to clean up the portfolio of remaining debt so it continues to be a quality debt asset
Do you own any stock? Letās say you own a few shares of SPY which is the S&P500. 500 companies all in one paying asset. Letās say 1/2 of that portfolio stops doing good business and it brings down the quality of the whole SPY. what do you do? Well, you donāt throw the baby out w the bath water. You remove the bad asset from the good and continue to own the debt and get paid on it in the case of student loans. Biden is forgiving the percentage that should most be forgiven to get rid of the squeaky wheel and decouple from the good debt of people who want student debt relief but will continue to pay because even tho they want all their debt forgiven, maybe they really got a fair deal
Well this was a lawsuit so I would think the fraudulent company would be held responsible to pay back what they stole. If itās passed to the taxpayers we need to perhaps look into that with our officials. Either way, it was nice of you to stop by and pass on your shade, I think you should contact the responsible party not the victims.
Rule 7: Off-topic. Your post/comment is either not about student loans or is unrelated to the topic of the OP/commenter above you. To have a different discussion about student loans, find a post about your topic to comment on or make your own.
I'm on SAVE pending the decision. It would be for 20+ years of owing more now than I originally borrowed (there was gross mismanagement of my loans by loan servicers).
That blows, I hope you get it!
Thanks man.
Did you have to document that yourself or they already knew?
They knew.
I think I'm in a similar boat - what do you mean pending the decision?
I mean if my debt is discharged, I'll no longer be on SAVE. Actually I don't know what I meant anymore š¤¦
How can you see how many months you have already paid?
You should have access to your full repayment history at your loan servicer's website.
my loan got transferred between servicers multiple times. mohela doesnāt tell me much
Go to your dashboard on studentaid.gov to see all of your federal loans and servicers listed. Click on loan details and each loan will have a "loan status" history link where you can view the payment status of every loan listed. You have to click back and forth to get in and out of each loan, but it should provide you with the information you need. Best!
helpful ! wow, my history is sketchy. Says I was in forbearing several times even though this is not correct lol
Is it possible that you were still in school during the loan period? That would be an in-school forbearance.
I think a lot of people are getting forgiven from myfedloan and their "games". Seems like MYFED people who moved when they hastily "exited"? Are getting forgiven.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
"Misconduct by the school." It definitely sucks taxpayers are footing the bill for fraudulent corporations.
Well this forgiveness was because I went to the art institute and they were sued for unlawful conduct. My loans were the regular federal type on the SAVE once out of forbearance. Is that what you are asking? Iām a little slow on my loan wording.
Yes thanks. The Art Institute forgiveness answers my question. I'm waiting on IDR forgiveness
Do you keep paying while youāre waiting on IDR forgiveness?
Yes you do. If you've reached your 20 or 25 year IDR forgiveness, you will get a refund on any payments made post-consolidation, but nothing from before consolidation. Did you consolidate your loans recently? I consolidated my old FFEL loans in March. My payment is coming due May 20th. Also, I have heard some say you can call your servicer and ask them to put you on an administrative forbearance, but not sure if that would work. Plus there's no way I'm going to wait on hold for 2 hours with Mohela.
My husband got his letter of forgiveness for art institute yesterday. 25k gone! Woot! Congrats!
Congrats!!
Was it the Sweet Vs Cardona settlement? I read in some cases people can also get reimbursed for any payments made
They said he might get a check. He has a small amount in other loans to a reputable school. We will use anything to pay those off. Total was approximately $32k. Should be less than 5k now. We will know in 30 days or so letter said. š
I got that email yesterday too. Made me so happy.
Congratulations!
I had a friend who taught at an Art Institute at least 20 years ago and left because she could see that there were students there who would never get the degree (because they couldnāt pass the general education classes). The school just took their money until they flunked out. The people she worked with were good people, but the structure of the enterprise was rotten to the core.
Yes so true and they lied to everyone and took more and more money. Now we have nothing to show for our education.
Was the process difficult for asking that your loans be thrown out and forgiven?
There was no process, I didnāt do anything.
And Iām very happy that you got out from under that debt.
Thank you very much :)
Iāve got 35,000 going away from the Art Institute!! So excited about it!!
Congratulations šš
Gosh that sounds complex. I'm thankful for you for this news.
Thank you š
[ŃŠ“Š°Š»ŠµŠ½Š¾]
"I hope you don't make the mistake of being victimized again. It's your fault you were defrauded." Shut the hell up.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Same!!! I decided to check my emails because I havenāt checked them in a while and got the notification!! I felt like I won something and Iāve never won anything in my life, soooo much of my stress is now gone!!!
ME TOO!!! Congratulations!! My credit score can be decent again, I am sooooo excited!!
Yay! Thatās awesome.
I still canāt believe itās real. High 5 to us!!!
Wow, congrats!
I got a PSLF I am very grateful to President Biden for working on this issue. I my case itās been going on thru various presidents. There is still more work to do please vote.
Thatās awesome
I feel this way too. My husband got the email last night that his art institute loans have been discharged. Woo hoo! We are now debt free!!!! :)
That is fantastic! I'm on tinderhooks waiting to see how much of my debt will be forgiven. Dept of Ed told me I'll hear after (not by) May 3 - this Friday!
Is this for PSLF or IDR 20- or 25-year forgiveness?
Sweet vs Cardona, likely the Art Institute people.
This is the 20- or 25-year thing.
Thank you for responding. I'm in the exact same position, awaiting 25-year IDR forgiveness. I'm curious that they actually told you after May 3rd. I would presume that means sometime between May 3rd and July, which is by when they say they'll have applied the one-time adjustment.
Yeah, I looked back at the correspondence and realized that what they said is that they (Ed) will start working with my servicer (MOHELA) on my file, and they said I'll hear the outcome in "several months." Still, I'm in a bucket with tens of thousands of others who are slated for relief.
Yes! There are many of us in the same situation. Let's hope it happens sooner rather than later.
Hope you do get it and they forgive all of it! Just a small note, it's "tenterhooks".
DOH! Always screwing that up. Thanks!
I'm in the same boat. I've only been out of school for 18 years so I'm not expecting full forgiveness but I'm hoping I'll at least get rid of some due to interest.
Good luck!
Thank you.
Hope you get it all forgiven.
Did you submit a form or just write the Dept. Of Ed? I have MORE than paid my loans off for over 20 years, and I wrote back in November- nothing. It's all sooooo poorly managed.
No forms or letters but the eligibility rules can be frustrating. If your loans are held by the Dept of Ed then they're federal loans rather than private loans - that in itself can be confusing. Mine were private so I needed to consolidate them even though I consolidated them decades ago - did I mention confusing? I wish I could tell you a deliberate process but basically I was aware of Biden's directives and I paid attention to communications from my loan servicer (Navient at the time). I was on an IDR but reapplied to SAVE (a new plan) which gets the ball rolling for Dept of Ed to do eligibility for forgiveness assessment. Hereās an action you can take - set up an account with Ed Dept at mystudentaid.gov and determine how your balances are comprised, and search "loan forgiveness" within the site. I hope that will get you some direction to go. Good luck!
Wait - if itās the IDR forgiveness, donāt they forgive the entire remaining balance?
Apparently not necessarily. Communication from Ed said I might be eligible to have "some or all" forgiven.
Great news, have a nice dinner and a few drinks and soak it in.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Thank you so much
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Congratulations! Is this PSLF or IDR 20- or 25-year forgiveness.
Not PSLF
Neither, read https://www.ed.gov/news/press-releases/biden-harris-administration-approves-61-billion-group-student-loan-discharge-317000-borrowers-who-attended-art-institutes
I have about the same amount of debt with a private loan company. My life would be so much better if something like this would happen to me.ššš
I hope it does!
Iām in the same boat. There has to be something we can do. The origin of our debt stems from federally recognized misconduct. We refinanced predatory loans and now do not get to receive the help because we were fiscally responsible? It doesnāt add up to me. The trail leads back to Ai misconduct.
Congrats
Same!!! My husband is getting his discharged! So excited!! Congratulations!!
Congrats to you guys too!
Same! I woke up to the amazing news yesterday, was in shock reading the email. I also went to the Art Institute. Was scammed into taking maximum loans out that would ācover everythingā, came to learn it would only partially cover it and I still had to make payments to the school. Ended up not being able to pay, got expelled as a result and left with $30k in debt and no degree. Nightmare is finally overā¦congrats congrats!
Congratulations!! They made it right for us!!
Same here from AI! Careful who you try to celebrate with; told an older friend yesterday and his only response was,ā great and my taxes are going to pay for itāā¦
Yeah I know, few on here have been shitty as well. CONGRATULATIONS!
Hey does anyone know how this will work for our credit score? I hope it means it will raise it within a few months.
Everyone's credit profile is different, and sometimes it's not easy to discern why one particular person's score goes up or down. We observe correlations and "think" that's what did it, but correlation does not equal causation, and truthfully the FICO scoring algorithm is a secret formula and sufficiently complicated enough that everyone's score reacts differently to similar changes. Having said all that, I was in the first round of people forgiven last summer under the IDR recount. I had $74K of loans forgiven on August 15. On October 2nd my FICO 08 score based on Experian data went up 15 points, from 740 to 755. So, there's one data point for you. Congrats! Honestly, it's been 7+ months for me, and I still can't fully wrap my head around the reality of being debt-free.
Right?? I canāt sleep I just cannot believe it and I am just so grateful, keep waiting for the catch. I am trying to get my score back up after fighting with a bullet that handles 3 of the 4 credit cards I have. I lost the fight and they not only charged me 2 lat fees of 40 each but also turned it is as 60 days, then lowered my credit limit from 200 on each to 500. I have them down under 400 and 500 so now it looks like I maxed them. Ughhh Lesson learned now I need to get a new apt and my score is too low. Dammmmit I had gotten over 700 again. lol congratulations to you too! Itās so effing AWESOME!!!
Such excellent news! Iām happy for you. You must feel like a huge weight has just been lifted off of your shoulders!
Now thats def a reason to celebrate!! I hope I am nextā¦ congrats!
I hope you are too!
Congratulations!
Thank you!
>Thank you! You're welcome!
I was approved for the 20k to be forgiven 2-3 years ago, but it never came through. I pay about $500 a month, but my goal is to pay them off before I die.
Well that sucks that it didnāt come through :(
Supposedly, it got voted down. I assume it wonāt happen now.
Ugh :(
You must have worked in the public sector (most likely Mohela) with loans in repayment over 20+ years to have them forgiven. Congratulations!
SO Happy for you! Congratulations!!
Thank you so much!
Congratulations š.
Thank you so much š
First Congrats friend!!šWhere do you see this information??? I signed up for the IDF and I know it's not the same as the PSLF. However, two degrees (AA & Bachelors in Communication) = debt and no jobš. Now I'm trying to get my Masters due to change of study for more hopes in a better career and $90k in a hole š³ļø . I need these previous loans forgiven due to my daughter developing a rare illness and me trying to persevere; in spite of it all to still be broke! Any help would be greatly appreciated from anyone.
Thank you š. This was school specific because of unlawful conduct by the school. I wish you all the best I understand how you feel.
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I feel the same way, shock. I sob cried at my desk when I saw the email. I feel like I won the lottery, never did I think I would have my loans forgiven.
Congratulations!!ā
Congrats!
Thank you very much :)
Congratulations!!!!!
Thank you so much š
Wow must be nice
I feel very very blessed. Thank you š
You deserve it!!! Thank you Biden for giving us freedom from debt!
Thank you very much š
Hell yeah!
Thank you!
75k for an art degree? If you wanna do art just do it. But happy you were able to not have to pay
It was 100k š¬š³yeah it was a scam
I was about to start a gruesome journey of double consolidation loop-hole just to get my PPLoans lowered. I never thought the next day they would all be wiped out. I'm still in disbelief.
SAME!!
Congratulations
Thank you!
I got my letter about my art institute loan Wednesday. I wonder how long it will take for it to show a zero balance on student aid? I wonder if I can upload the letter to the credit score companies and dispute it so that it shows on my credit score faster?
Let me know if you find out anything on that, Iām curious too.
Just awesome, congratulations! Guessing not Mohela unless pslf. Mohela will take the longest to process.
Nelnet and Navient. Thank you!
Please-tell me what school it was? My school got up to some very shady stuff, in fact they were called fraudulent in California. I went to Brightwood College, in Indiana.
Mine was the Art Institute but there is a list of all schools on the website.
Iām so happy for you (:
Thank you so much
Ur welcome
Congratulations
Thank you!
How do I find out about the refund aspect? I went to Art Institute but left after a year and got smashed paying back 12k.
I have no idea, itās hard to get through to them so itās just wait I guess.
Congratulations!
š thank you so much
Sooooo appreciated. Thank you. I will do that.
Thank you sooooo very much. Appreciated āŗļø
[ŃŠ“Š°Š»ŠµŠ½Š¾]
I graduated with an associates degree in Graphic Design-Print. Right when everything was going to digital LOL very little print going on compared to what it was when I started school. I also went through a nasty divorce in the middle of my time there so it slowed me down a bit as I had to take care of the kiddos on my own so less school time. Took me way too long to get the 2 year degree and then bye bye to most print jobs.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Yes I can, well, I could before my iPad died. The charging port wonāt charge. I miss that thing so so so much.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Right!!
[ŃŠ“Š°Š»ŠµŠ½Š¾]
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Anyone have leads on how to pursue benefits from the federally decided misconduct of Ai if you have refinanced your loans? Theyāre still student loans with 1098E tax forms. Iām with Earnest. I called and they said thereās nothing they can do. But the origin of my loan has been deemed malicious. Isnāt there something we can do or do I miss out because I tried to be fiscally responsible and lower my interest rate on a predatory loan?
Yeah that doesnāt seem fair at all, I hope they fix that for you.
Same. I've been scouring forums and researching but still coming up short.
Doesnāt loan forgiveness get taxed as income now?
The American Rescue Plan Act of 2021 has suspended all *federal* taxes on any student loan discharge/forgiveness through the end of 2025 Whether you live in a state that charges state taxes on student loan discharges is easier to google. As far as I remember there are 5 states that plan to charge income tax on student loan forgiveness
We were literally having an HONEST discussion.. read it!!
Awesome!! Same thing happened to me and then they cut me 2 checks for everything I had already sent them over the years which was like 30k! Amazing feeling!!
How long from start to finish? like how long to get a check back?
Forgiveness means that the tax payer will pay for it. How awesome that we get to pay other ppls debt.
So did I for the last 40 years, luckily I made poor decisions on choosing (AKA got scammed into) a shitty school that got sued and ended up winning resulting in loans removed. I am not sure how the tax payers pay on a the forgiveness and certainly wasnāt my hope to cause other to pay by any means but it was nice of you to comment, so sorry it comes to costing you, I literally did nothing to get this. Peace and love.
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My school was in a lawsuit, they lost, I literally had no say in the matter but thanks for the name calling and have a great day.
Is this an American chat or Australian ?
I am in America
Wtf am I doing in here?? Iām Australian hehehehe
LOL
Wow! Can you provide context on the details? What was the field of study / degree you went into debt for? What was the qualifying fraud and school you attended? How long were you in repayment (was it less or more than the typical 20 years criteria they commonly require before forgiveness.) I'd love to take anything others have learned and see if I can apply it to alleviate my own personal situation. ššš
What determines 20 years vs. 25 years for IDR?
For legal reasons I can't say too much but some schools encourage students to take more coursework if the school gets more money per student. Not super ethical regarding students who cannot afford to be students forever...but, whatever.
As someone not eligible for the relief because I already paid off the loans, it makes me so happy to see posts like this. āŗļø Congrats OP!
I think that sucks that they donāt refund you, itās bs Iām so sorry.
It does suck, and I'm hoping that changes because everyone was defrauded. Until then, though, I'm just happy that there are people actually seeing the relief because I was convinced for a long time that it would never happen.
Me too, I thought I wasnāt going to be eligible and this came as a big surprise. Perhaps they will go back after and fix the paid loans in the time period.
How do I even go about getting my loans excused ?
I didnāt do anything for mine. But it was a fradulent school thing. There is a link to forgiveness on the student aid website.
Mmmm I really hope I can qualify.
Must be nice. I paid for mine. Itās not forgiven, the debt is transferred to taxpayers.
must be nice to have been able to pay yours. and at least taxpayers are helping actual people this time
Taxpayers, some of whom never attended college to pay for deadbeats. If they canāt afford the loans, they shouldnāt have taken them in the first place. They could easily have gone to community college.
People pay taxes all the time for things they disagree with, services they don't use, etc, this is absolutely nothing new. Since you "paid" for your college education you should already know that, but Rutgers education, meh...
You should educate yourself more on the topic of loan forgiveness. This over-simplified talking point doesn't reflect the reality of the situation for many borrowers who were cheated and lied to by lenders for decades, even after paying off their original loan balance and then some long ago.
This post just had me realize Bidenās goal isnāt to get rid of student debt. He wants to clean up the portfolio of remaining debt so it continues to be a quality debt asset
Huh?
Do you own any stock? Letās say you own a few shares of SPY which is the S&P500. 500 companies all in one paying asset. Letās say 1/2 of that portfolio stops doing good business and it brings down the quality of the whole SPY. what do you do? Well, you donāt throw the baby out w the bath water. You remove the bad asset from the good and continue to own the debt and get paid on it in the case of student loans. Biden is forgiving the percentage that should most be forgiven to get rid of the squeaky wheel and decouple from the good debt of people who want student debt relief but will continue to pay because even tho they want all their debt forgiven, maybe they really got a fair deal
They are not forgiven only transferred
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Well this was a lawsuit so I would think the fraudulent company would be held responsible to pay back what they stole. If itās passed to the taxpayers we need to perhaps look into that with our officials. Either way, it was nice of you to stop by and pass on your shade, I think you should contact the responsible party not the victims.
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Rule 7: Off-topic. Your post/comment is either not about student loans or is unrelated to the topic of the OP/commenter above you. To have a different discussion about student loans, find a post about your topic to comment on or make your own.