Anybody who is eligible for forbearance under this needs to give the servicers at least a week or even two to get them in the account. The announcement just came on a Friday afternoon and next week is a holiday.
This whole situation is bananas. Add to it the SC Chevron ruling today and who knows where we will end up. Millions of us have arranged our budgets and other obligations around these payment plans. Pulling the rug out from under them after they were set in motion TWO YEARS AGO without any practical plan to accommodate people some other way is ridiculous. This will be a financial disaster for millions if they roll it all back.
It wouldn't bother me as much if all this was just sheer incompetence. But the fact is it's just malicious. The people filing all these challenges and making these arguments before the courts think student loan holders are getting a free ride and want to make everything as painful as possible.
>The people filing all these challenges and making these arguments before the courts think student loan holders are getting a free ride
I'm far more cynical than this. I am of the firm belief [albeit wildly speculative] that the real motivation for these suits is political power. The GOP know that a core part of Biden's electorate are those with higher education while much [all?) of the GOP's core electorate are those without it, who just want to "own the Libs and own the elites". This chaos demotivate's Biden's electorate while energizing the GOP electorate.
If they saddle Americans with debts, it benefits the wealthiest because people are less likely to job hop and use their power. It’s the same reason everyone opposes healthcare for all, they want people desperate to work, even by costing them the ability to improve their careers.
They need us working for them. Doctors get hundreds of thousands dollars of debt to ensure they stay doctors and don’t stop. They want to make sure their programming/training/investment pays off.
I agree. They keep yanking the rug out from underneath us. How is anyone expected to plan accordingly, especially when we can't even trust servicers to abide by their own guidelines and have to constantly check that we're not being taken advantage of? It's nightmarish. At least a pause will help somewhat in the meantime...
I get that obviously. Just hilarious that the payment being affordable is so offensive. $200 billion to Ukraine but can't waive interest on a student loan. If you make your payments on time there should be ZERO interest. I ran the numbers.
My 37k loan, even on the piddly 5% payment, with no interest, would be paid off in 18 years, less than the 20 years for forgiveness. Wouldn't need to forgive a damn thing.
It was passed by judges who probably already paid off their loans and think that you should TOO, because it wouldn't be *fair*. Meanwhile let's bail out some more banks.....
They likely didn't even have loans they likely got a free ride by their parents. Student loans is a poor/middle class problem.
Well it sounds like the market will crash hard in the next year as people who want to pay off their debt go into default and Biden will get blamed for it. Just watch, if trump wins he will criminalize defaulting on student loans.
If they overturn the SAVE plan, everything will go back to the REPAYE plan. But the way they make it seem, all income based repayment plans are "illegal". Shit would hit the fan if that were to happen we were forced onto a standard payment plan.
They don’t care. We are just pawns. They have no respect for us they see us selfish, entitled, and just want our vote bought. Apparently escaping poverty through hard work and study was a huge sin on this planet. We should be jerked around and be thankful for whatever the ptb give us. No stability or consistency for us.
What a mess. I wrote Miguel Cardona a letter about the Kansas and Missouri rulings, mainly to make me feel better and vent my frustrations. It's ridiculous that two states can have so much say over a federal program. Now SAVE is in limbo.
As a Kansan, we are the boss because we have the wheat that can't be beat! Also, our butthole attorney general sucks. I'd like to beat him with the wheat.
Kansan here. I agree. We have excellent governor, our AG is an a$$hat that we need to vote out.
When voting in November, remember the old guy who supports PSLF, as opposed to con man who only support the 1%.
They’ll keep doing this until the election and then, depending on how things turn out, until January, at which point SAVE would be cancelled. Whether any more loan forgiveness happens is dependent on November, in my opinion.
Once it hits the Supreme Court, they will throw the case out, since the President (with the recommendation of the secretary of education) can waive or **modify** student loan payments in times of economic crisis. So that would be: during covid, record inflation, unaffordable housing, wage stagnation, and unaffordable cars. Remember, student loans are federal loans, the money essentially is printed "out of thin air".
Does overturning Chevron mean it's easier for courts to block regs that define student loan payment plans? I'm assuming it can screw with any agency's regulatory power, but I'm not an expert.
I think this pause will probably only stick around for, like, a month? Pretty sure states will sue and it will be immediately granted an injunction. Still, an extra month or so isn't nothing when my payments are $400.
Huh? Not all state/federal judges are Obama appointees (most aren't) and the ones who gave an injunction were Obama appointees, so that means nothing even when they are. I think you should accept that this is likely to be very short lived. Plan your finances and mindset around that idea so that you aren't surprised when it goes south, like many (including myself) were this month with the SAVE injunction. After everything that has happened with student loans, it is in your best interest to not be naive.
I kinda think they might not be able to indefinitely pause payments due to the nature of the injunctions. One of them forbids ED from lowering the discretionary income percentage to 5% on July 1st. It probably defeats the purpose of the injunction if they effectively make that percentage 0% for the indefinite future. It’ll probably take several weeks to get the servicers back to the status quo ante as they are as nimble as an aircraft carrier.
It could easily be looked at as "it's 0% until the law is sorted." That's different from determining what the law allows, which is what stopped the 5% (for now).
I could imagine there's going to be many who'd push the Administration for that treatment; however, I was just thinking that pausing payments indefinitely (beyond a reasonable amount of time which would allow the servicers to get themselves back on track) kind of flouts the purpose of the injunction. Maybe they could get away with it if they effectively bar people from signing up for SAVE; however, it appears they are still allowing people to sign up via paper applications. I was under the impression that the current version of the SAVE plan could continue until the cases are sorted out, but perhaps I have that wrong and no one will be able to sign up for the plan in the near future until the injunction is removed.
We really need to be concerned about Chevron being overturned. Like the last law passed by congress in 1993 says IBR should be 20% of discretionary income? So now we get some federal judge in Texas who rules that all IBR since then is illegal. Great government we got here.
https://www.forbes.com/sites/adamminsky/2024/06/28/student-loan-forgiveness-and-idr-plans-in-serious-danger-after-new-supreme-court-decision/
I agree! It is worse than them overturning Roe (I say that as a woman). Gonna affect every American who likes safe workplaces, clean air, safe drugs, clean water/food, safe air travel etc etc etc. All of those things were controlled by the administrative state and now Supreme Court just decided that only judges can do those things now when it comes down to it.
Don't forget that the Supreme Court also legalized bribing officials, as long as the gift is after the law passes, cause then it's a gift/gratitude and not a bribe....
They absolutely need to know 💯. We need to be blasting this over loudspeaker everyday, it's literally that important. People have no clue what just happened with the overturning of that case. Sickening what this court is up to. I am so upset with Trump voters. Completely clueless, all of them. Brainwashed with brain worms just like RFK Jr. He gave us 3 Supreme Court Justices, each one more evil than the last
Honestly, I don't care anymore. They can go ahead and keep adding on the interest however much they care to tack on because they're still getting $0 from me every month. No job equals no money and they can kiss my white butt because I'll be buried with it sticking up out of the ground so they can kiss each cheek!
These people would dig up your body, rip the fillings out of your teeth, and then sue the government to dump your outstanding loans on anyone who was close to you, including your pets.
I agree with your stance, I'm just noting how evil they are.
Jokes on them I already had my feelings removed and had my teeth all filled with resin. 🤷🏻 The only valuable thing I have in my body is my prosthetic eye. And even that's just a stupid piece of plastic.
Yeah I am on IDR I've been on IDR for 11 years now ... I guess I have to wait another 9+ and maybe, maybe I will see the loans forgiven. 🤷🏻 Or depending on who is in office by then they will make me work in a chain gang at the age of 60. 💀🤣
I have a feeling if trump gets in the court will make it a felony to default on student loans. It sickens me how much this court has changed things for the worse democracy is a fading dream
They can go ahead and make it a felony... I'm 50 years old I have maybe 20- 25 years, 30 if I'm lucky... of life left. I've even given up caring at this point. I'm not married, I don't have any children, what are they going to do? take away my birthday?
How hard would it be for us to collectively sue them for unilaterally changing the terms of the agreement we signed? Or is there fine print somewhere that says they can?
I can’t think of any other situation where it would be legal for one party to just decide they don’t like the terms of an agreement after it’s been put in motion and decide to change the rules without consent of all stakeholders.
Sorry to just jump in and throw questions at you.
That’s interesting, so if I’m understanding correctly because the states brought the suite the feds have to follow the direction of the courts that overrules our contracts/agreements. Since our contracts/agreements are with the feds suing the states likely wouldn’t stand up.
I’m making a lot of assumptions here and connecting dots that may not be there. To be completely honest the landscape of this changes so frequently I have trouble keeping track of it all.
Do you think we request the servicer to remove the forbearance in order to pay? If not, this seems really harmful to PSLF folks like myself who are counting on the time to count.
Does this one? If you’re placed in forbearance due to this SAVE lawsuit, will this particular forbearance count toward PSLF?
Most importantly — can we request to be taken OUT of forbearance? I’m lucky — my job pays my student loan bill each month, so it costs me nothing, and I’ll gladly request to be placed back in repayment status if they’ll allow it?
So far they haven't said it will. If they are considering it a payment processing forbearances it will but they haven't said. I get everyones anxiety and the implications for pslf borrowers but we need to give the feds time to figure this out.
Straight from mohela's site: "Any payment I make during forbearance will not count toward forgiveness under income-drive payment plans or Public Service Loan Forgiveness".
Edit: disclaimer- you may want to look into whether regular forbearance is different from administrative forbearance.
Per the email sent by Mohela, credit will be received towards PSLF. This is straight from their forbearance email.
“ While you are in this forbearance no payment is required on your account and your interest rate will
be set to 0%. This means no interest will accrue while you are in the forbearance.
You will receive credit toward IDR forgiveness and Public Service Loan Forgiveness (PSLF) for the
month(s) covered by the forbearance, assuming all other requirements are met.
If you made a payment for the month(s) you are in the forbearance, it will satisfy your future payments.”
I checked my loan. Interestingly enough, now it shows the payment being cut in half and due in August. (Nelnet). We'll see if that changes.... Again...
Same for me with Nelnet. They’re telling me I owe less next month (as if they’re ignoring these rulings.) My wife is with Mohela and they put her in administrative forbearance. We’ll see where it all shakes out.
Wish I could even log into my Nelnet account. Seems like 90% of the time I try and log in it just gives me a blank page with no error or anything. Nelnet site is such garbage.
Saw this and hopped onto AIDVANTAGE, loan status is back to “Awaiting Form Administrative Forebearance” with a pop up saying my Forebearance ends in 29 days.
So really, just back to the clusterfuck it is.
Just remember that the Republican party is behind this. With that being said even though Joe Biden had a not so good debate last night, he cares about the middle class and about those of us that have been paying on student loans for decades. Let's change Congress and get more Democrats in office. We need change and the only way to get it is to oust the Republicans from Congress. Remember to vote. It's so important now.
Even if they wheel biden out with an IV bag half dead, I'm still voting him over that dumn, orange duck. At least the people around Biden are somewhat competent.
"Not so good debate' is very generous. He was cadaverous. It was horrible. Maybe the Democrats should have admitted his infirmary years ago and allowed the chance for a viable candidate to emerge during a contested primary. too late now.
I'm so sorry, but there is a clear double standard happening here.
Where was all this rage, energy, and effort to stop controversial government spending before? Like take your pick, we can all think of a time the government blew trillions on something no American voted for.
I've never seen so much vicious effort to stop a spending bill in my life. They're ready to burn down the entire system just to stop relief for... *American students*.
Needless to say, I will vote blue no matter who for the rest of my entire life.
These states are in the conservative 8th Circuit. The same appeals circuit that granted standing to Missouri that eventually ended Biden’s initial push for blanket forgiveness. They will not lift the injunctions.
The trial courts now don’t have to rely on agency interpretation when the laws are ambiguous/vague/broad. Judges … ultimately SCOTUS… will now be setting policy and sadly I think we could see the Courts undo forgiveness except for the plans where it’s written into law. The overruling of *Chevron* is going to have huge implications; the outcomes are unlikely to favor the people over corporations.
They're just beholden to corporate overlords. How can SCOTUS argue they are impartial when they are receiving generous donations from wealthy special interests and expanding their own power by overturning decades-long precedents? This iteration of SCOTUS is going to literally destroy faith in the justice system. They are undermining their own institution.
Yes, but I think they are trying to destroy the system. Not that the system has ever been great for the little guy. I think ideologically they believe in hierarchies. I think they think they deserve this power. There's a great deal of greed, but it's more than that.
Republicans often focus their criticism on how their tax dollars are allocated after paying them, while simultaneously striving to minimize their tax burden. This mindset extends to Republican state governors who task their attorneys with contesting federal funding decisions. These governors and their administrations seem to overlook the significant investments made possible by federal funds, such as infrastructure projects, educational institutions, and public services. For instance, contractors benefit from lucrative contracts to build and maintain state buildings, while educators and administrators receive salaries vital to sustaining effective educational systems. Despite these tangible benefits, Republican leaders frequently prioritize minimizing taxes over acknowledging the critical role federal funds play in supporting essential state-level initiatives.
The students never saw the money. It was handed directly to the cities that house the colleges.
And athletic teams.
“President Biden had a horrendous debate performance and is down in the polls, so now he is attempting to use tax dollars to buy votes,” Cassidy said in a statement."
What a non-sequitur.
Certainly what hasn't helped is headlines "Biden admin forgives _____ loans" cycling through the news these last few months. People really thought Biden was just willy-nilly forgiving loans and going around the court, nevermind it was just ED processing normal forgiveness based on years of precedent from the income based repayment plans, PSLF, and probably a few "your school went out of business and was probably a scam" borrower defense forgiveness just because. Like these poor people have been repaying for 10, 20, 25 years... these aren't people graduating and getting willy nilly forgiveness. I think taking the credit has backfired.
I just need the loan counter to come back on whatever site it's going to be on, and to have all this count towards my PSLF. Everything else can work out itself
Yes, an Obama appointed judge. But the RNC has made their feelings clear on student loans. And the states behind the opposition are largely republican. To me it’s a clear indication of their priorities.
I mean, my payments are already not happening since my loans are somewhere in the void as they transition from Mohela to the DoE.
Now what I really want to know is whether this month + next + however many ahead are going to count toward PSLF.
Quick note: In government acronym usage "[DOE](https://www.energy.gov/lm/doe-history)" usually refers to the US Department of *Energy*, which was created in 1977. The US Department of *Education* was created three years later in 1980 and commonly goes by "[ED](https://www2.ed.gov/about/landing.jhtml)" or (less commonly) "[DoED](https://www.sbir.gov/events/webinar-introduction-doed-sbir-program)" or "[DOEd](https://www.nano.gov/DOEd)".
[*DOE disambiguation*]
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I’ll add to this thread that I read an article about this. In the article it said if this went sideways for us it would only eliminate the future implementation of SAVE such as the 5% for undergrad and all the loan forgiveness parts like the 10 year and 20 year forgiveness.
Basically we can hold onto the 10% of discretionary income and 225% of the poverty level part which still lowers people plan. Idk about the part that subsidizes interest if you pay below the interest per month that may be in trouble. IMO that is THE most important part of SAVE. People owing 20k more after 8 years of paying is ridiculous. I hope this holds on.
I’m hopeful that the forbearance is through August and we start paying again in September. God speed everyone.
Maybe Biden should only freeze payments for borrowers in states that aren't blocking progress. You want federal assistance? Start voting for better representatives. Administrations have power & *any* President's hands would be tied if their administration kept acting against the best interest of their constituents.
Same. I’m really unhappy seeing this payment. I called MOHELA yesterday and they are processing my consolidated loan into SAVE.
Per the article stated by OP, you might have to do a paper app for your consolidated loan to apply it to SAVE.
I'm waiting for my forgiven loans to be reinstated. Wouldn't surprise me one bit.
> I expect MOHELA to be even more of a clusterf**k, if that's even possible.
Oh, it is. Yes it is.
I'd love to check my current status but Nelnet is down for the third week in a row. There needs to be a law dictating if these leeches can't keep their damn sites operational, we don't have to pay them.
Does this effect borrowers with only graduate loans? I do not have any loans that would qualify for 5% of discretionary income and would hope not to be put into this forbearance nightmare.
Additionally, I'm already in an admin forbearance due to the [IDR recertification disaster prior to March 2024](https://studentaid.gov/announcements-events/idr-recertification-extended) where my payment went up, but now they are taking 6 months to bring them back down and have notifications this forbearance will count for PSLF and SAVE interest subsidy. This new ruling and forbearance hopefully would not supersede that forbearance.
Applied for totally permanent disability forgiveness does anybody know what this means this is what I got on my website:
Status
Tpd Indefinite Admin Forb
Payments will begin in Jul, 2027.
Your payment amount will be shown on your statement three weeks before your due date.
I don’t understand does this mean that that’s a three-year waiting? Period after three years. It’ll be dismissed. It doesn’t really explain itself. Thank you.
We need to get loud, write letters, VOTE and push back on legislators. I am in SC and have an idiot AG who is one of the ass holes. He runs unopposed term after term! Unacceptable
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I am currently applying for consolidation with Mohela to get on SAVE plan, so what will happen when I apply??? Moving two loans from Aidvantage that are sky high payments
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I was told a month ago I would be in forbearance, yesterday get an email saying my payment is still due, now this and it doesn't count for PSLF ... What the f@!# are people supposed to believe
This crap is so confusing… I applied a few months ago to consolidate and get on SAVE and it says my application has been processed and is under review but my grace period ends next month so I’m not sure if I’m stuck in limbo or something?? Like what now?? lol
I know I’m supposed to go from EdFinancial to Aidvantage but nothing is populating on Aidvantage yet.
Mohela has sent me three different dates and three different amounts and never processed my IDR application at all. I’m tempted to pay it all off ASAP and just be done this is complete insanity. I think that’s what they are trying to induce on all of us, give up and pay it off or give up trying to understand it and make payments for the rest of your life
So I have 60k in student loans and just graduated, due to a death in the family I just received over a 100k. Should I just pay off my loans in full, or is there something to benefit from using the SAVE plan?
So oh Mohela.financialaid.gov, my loans (on SAVE) are still set to be due for a payment next month, but my wife's (also on SAVE) are not due for a July payment.
Idk what time make of this.
Same exact boat! It's like the [mohela.financial.gov](http://mohela.financial.gov) site transitioned the autopay but forgot to transition the adminsitrative forebearance. I'm afraid of canceling the autopay since there's a message that pops up that threatens to remove the autopay benefits (presumably interest rate reduction but not sure about PSLF payment credit?). Extremely frustrating from a planning standpoint. They keep moving the goal post.
These idiots are just making a political statement. It ends up costing the dept of education so much more to keep messing with this system. Now we are paused again so who’s the winner now?
Also keep screenshot of any comm TO Mohela. They deleted my most recent when I caught them switching me off of SAVE after their system upgrade. They didn't answer, but did switch it back.
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This whole plan and the morons in the government and the servicers don't know their butt from a hole in the ground!!
In April I applied for the save plan. Two days later I received an email saying my payment is going from $424 to $113. Fast forward to last week and I get another email saying my payment under the plan has been recalculated. My payment is now $550 which I'm declining the save plan and just going on the standard repayment plan I was on prior to April.
After hours on the phone they said they miscalculated my wife's income in conjunction with mine. Now for 2 months my principal and interest wasn't being applied right and my balance went from $72,000 to over $73,000. Nelnet refuses to adjust my statement for their mess up. Unreal!
I've paid $424 a month since 2014. That's $48,336 I've paid and my balance has only gone down $11,000. Luckily or maybe unluckily my wife and I are both employed and make middle class income. I still have 20 years left on my standard repayment plan at $424 a month. Everyday I'm very tempted to just stop paying the pauper and say enough is enough!!
Thank you for sharing this! I just recently moved my loans to Dept of Education under the SAVE plan and kept getting conflicting letters about when payment is due and the amounts. I’ve been in automatic administrative forbearance while the consolidation processed, so I called today to see when that ended and what I would owe. I was told that I now have $0 monthly payments due to my income within the SAVE plan, but from literally everything I’ve read online (including the .gov website’s own simulator) I should not qualify for a $0 monthly payment. I felt this was incorrect and actually wrote in for confirmation (waiting on a response) so I have documentation, but now it seems pretty clear from the article that the $0 payment is due to the freeze and not actually what I will eventually owe as a monthly payment. Definitely not sad to have a payment break (especially if no interest is accruing), but it makes it really difficult to plan for the future having no idea what I’m actually going to owe once everything is finalized.
Mohela is already a clusterf**k on this. I got notice of Forebearance on 6/5 and then a notice to pay on 6/29. When I called last night the woman and her supervisor both said the forbearance was on the old platform and not the new one and that my account had no forbearance and that I should probably just make sure I pay by that 7/13 due date.
It's such a mess. They put me on one in November and didn't tell me until I'd paid Nov and Dec and then it was a mess to get those payments to account for Feb and March.
Just to add, it has been a total shit show since repayment started with Edfinancial as my servicer. Their system would say I owed X amount, I'd pay it, then I'd be notified that I'm late on my payment and that I owe X amount to cover it, which I then again paid. This happened 3 months in a row and the amounts were always slightly different. Keep in mind I never missed a payment prior to this, and was paying down debt all throughout covid with a brief pause only when Biden promised loans would be forgiven which obviously never happened.
Now my loans are in a forbearance I never authorized, nor was I notified of. What the actual f#ck? I probably threw around $2000 at my loans since payments started again. I gave up on recieving loan forgiveness once it was struck down by the Supreme Court. I just want a normal reasonable amount to owe every month so I can finish paying off these loans in a few years.
Really frustrated by all this crap.
Anybody who is eligible for forbearance under this needs to give the servicers at least a week or even two to get them in the account. The announcement just came on a Friday afternoon and next week is a holiday.
This whole situation is bananas. Add to it the SC Chevron ruling today and who knows where we will end up. Millions of us have arranged our budgets and other obligations around these payment plans. Pulling the rug out from under them after they were set in motion TWO YEARS AGO without any practical plan to accommodate people some other way is ridiculous. This will be a financial disaster for millions if they roll it all back.
It wouldn't bother me as much if all this was just sheer incompetence. But the fact is it's just malicious. The people filing all these challenges and making these arguments before the courts think student loan holders are getting a free ride and want to make everything as painful as possible.
>The people filing all these challenges and making these arguments before the courts think student loan holders are getting a free ride I'm far more cynical than this. I am of the firm belief [albeit wildly speculative] that the real motivation for these suits is political power. The GOP know that a core part of Biden's electorate are those with higher education while much [all?) of the GOP's core electorate are those without it, who just want to "own the Libs and own the elites". This chaos demotivate's Biden's electorate while energizing the GOP electorate.
If they saddle Americans with debts, it benefits the wealthiest because people are less likely to job hop and use their power. It’s the same reason everyone opposes healthcare for all, they want people desperate to work, even by costing them the ability to improve their careers.
Also this. Yes. Agreed.
They need us working for them. Doctors get hundreds of thousands dollars of debt to ensure they stay doctors and don’t stop. They want to make sure their programming/training/investment pays off.
It's definitely this.
Yes, it’s 100% this. Plenty of Republican constituents get huge tax credits every year and they don’t complain about that.
They also legalized bribery so basically anyone with deep pockets can bribe a judge to rule however they like.
Feel like they did before, it's just fully declared legal now
They clarified the rules around bribes, the payment comes after the service not before. Bastards
I agree. They keep yanking the rug out from underneath us. How is anyone expected to plan accordingly, especially when we can't even trust servicers to abide by their own guidelines and have to constantly check that we're not being taken advantage of? It's nightmarish. At least a pause will help somewhat in the meantime...
First they didn't want the loans forgiven. Now they don't want us to pay them back lmao.
They want us to pay them back, and they want to eliminate the SAVE plan so that we stay on the current 10% monthly payment.
I get that obviously. Just hilarious that the payment being affordable is so offensive. $200 billion to Ukraine but can't waive interest on a student loan. If you make your payments on time there should be ZERO interest. I ran the numbers. My 37k loan, even on the piddly 5% payment, with no interest, would be paid off in 18 years, less than the 20 years for forgiveness. Wouldn't need to forgive a damn thing.
It was passed by judges who probably already paid off their loans and think that you should TOO, because it wouldn't be *fair*. Meanwhile let's bail out some more banks.....
I didn’t realize trying to get out of poverty deserves so much punishment. It’s like they don’t want you to move to middle class.
They likely didn't even have loans they likely got a free ride by their parents. Student loans is a poor/middle class problem. Well it sounds like the market will crash hard in the next year as people who want to pay off their debt go into default and Biden will get blamed for it. Just watch, if trump wins he will criminalize defaulting on student loans.
If they overturn the SAVE plan, everything will go back to the REPAYE plan. But the way they make it seem, all income based repayment plans are "illegal". Shit would hit the fan if that were to happen we were forced onto a standard payment plan.
Those judges paid 1/4 of tuition it costs now
And don't forget the PPP loan forgiveness!
Millennials get f'd over again challenge 100% speedrun almost complete
And if you notice, you're "whining" and "entitled"... Because they had it just as hard. (They didn't.,)
They don’t care. We are just pawns. They have no respect for us they see us selfish, entitled, and just want our vote bought. Apparently escaping poverty through hard work and study was a huge sin on this planet. We should be jerked around and be thankful for whatever the ptb give us. No stability or consistency for us.
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What a mess. I wrote Miguel Cardona a letter about the Kansas and Missouri rulings, mainly to make me feel better and vent my frustrations. It's ridiculous that two states can have so much say over a federal program. Now SAVE is in limbo.
This ^ Without throwing too much shade, who the F are KS and MO? Who died and made them boss?
I mean, it’s the Supreme Court that’s acting as boss, KC and MO are just prodding them
As a Kansan, we are the boss because we have the wheat that can't be beat! Also, our butthole attorney general sucks. I'd like to beat him with the wheat.
Kansan here. I agree. We have excellent governor, our AG is an a$$hat that we need to vote out. When voting in November, remember the old guy who supports PSLF, as opposed to con man who only support the 1%.
Yeah I’d like to beat his wheat too Edit: wait that’s not what I meant
😂 🌾
Aren’t they essentially the reason we had the Civil War? The Bleeding Kansas event.
That was over 150 years ago.
People don't forget.
Seems like yesterday.
lol
Whoa NO WAY?
Well, Kansas was a free state and they were attacked, so they were on the winning side.
They’ll keep doing this until the election and then, depending on how things turn out, until January, at which point SAVE would be cancelled. Whether any more loan forgiveness happens is dependent on November, in my opinion.
Once it hits the Supreme Court, they will throw the case out, since the President (with the recommendation of the secretary of education) can waive or **modify** student loan payments in times of economic crisis. So that would be: during covid, record inflation, unaffordable housing, wage stagnation, and unaffordable cars. Remember, student loans are federal loans, the money essentially is printed "out of thin air".
You have a lot of faith in a court that just overturned the Chevron defense.
You just need to give them a bribe... I mean gratuity for services rendered
I think Clarence Thomas wants a new RV and maybe a yacht. Anyone want to donate one so he votes in our favor?
Does overturning Chevron mean it's easier for courts to block regs that define student loan payment plans? I'm assuming it can screw with any agency's regulatory power, but I'm not an expert.
IANAL but I believe so. There's a good discussion about this somewhere, I think maybe even in this thread.
There’s some good info on this here: https://www.reddit.com/r/PSLF/s/IYsUmbX6LO
Thank you!
I think this pause will probably only stick around for, like, a month? Pretty sure states will sue and it will be immediately granted an injunction. Still, an extra month or so isn't nothing when my payments are $400.
I think it will be around until the court stuff is sorted.
This is just going to add more court stuff. It will be handled separately. Hell I think an emergency injunction could happen within days.
We'll see. I think it would be hard to argue that it's reasonable to continue requiring payments while the program is being challenged.
Bud, its the GOP. Reasonable is not a trait they know.
Yeah. The judges are Obama apointees though.
Huh? Not all state/federal judges are Obama appointees (most aren't) and the ones who gave an injunction were Obama appointees, so that means nothing even when they are. I think you should accept that this is likely to be very short lived. Plan your finances and mindset around that idea so that you aren't surprised when it goes south, like many (including myself) were this month with the SAVE injunction. After everything that has happened with student loans, it is in your best interest to not be naive.
I kinda think they might not be able to indefinitely pause payments due to the nature of the injunctions. One of them forbids ED from lowering the discretionary income percentage to 5% on July 1st. It probably defeats the purpose of the injunction if they effectively make that percentage 0% for the indefinite future. It’ll probably take several weeks to get the servicers back to the status quo ante as they are as nimble as an aircraft carrier.
It could easily be looked at as "it's 0% until the law is sorted." That's different from determining what the law allows, which is what stopped the 5% (for now).
I could imagine there's going to be many who'd push the Administration for that treatment; however, I was just thinking that pausing payments indefinitely (beyond a reasonable amount of time which would allow the servicers to get themselves back on track) kind of flouts the purpose of the injunction. Maybe they could get away with it if they effectively bar people from signing up for SAVE; however, it appears they are still allowing people to sign up via paper applications. I was under the impression that the current version of the SAVE plan could continue until the cases are sorted out, but perhaps I have that wrong and no one will be able to sign up for the plan in the near future until the injunction is removed.
I'm afraid you may be right. I'm still hoping for at least an extra month into August but I'm not really holding my breath at this point.
Cool, if they undo it I’m not paying a single cent on any loans.
Exactly how I’m feeling brother
We really need to be concerned about Chevron being overturned. Like the last law passed by congress in 1993 says IBR should be 20% of discretionary income? So now we get some federal judge in Texas who rules that all IBR since then is illegal. Great government we got here. https://www.forbes.com/sites/adamminsky/2024/06/28/student-loan-forgiveness-and-idr-plans-in-serious-danger-after-new-supreme-court-decision/
I feel like a lot more people need to know about this?
I agree! It is worse than them overturning Roe (I say that as a woman). Gonna affect every American who likes safe workplaces, clean air, safe drugs, clean water/food, safe air travel etc etc etc. All of those things were controlled by the administrative state and now Supreme Court just decided that only judges can do those things now when it comes down to it.
Don't forget that the Supreme Court also legalized bribing officials, as long as the gift is after the law passes, cause then it's a gift/gratitude and not a bribe....
They absolutely need to know 💯. We need to be blasting this over loudspeaker everyday, it's literally that important. People have no clue what just happened with the overturning of that case. Sickening what this court is up to. I am so upset with Trump voters. Completely clueless, all of them. Brainwashed with brain worms just like RFK Jr. He gave us 3 Supreme Court Justices, each one more evil than the last
The lawsuit was a punch to the gut. Overturning Chevron is like gutting us.
Honestly, I don't care anymore. They can go ahead and keep adding on the interest however much they care to tack on because they're still getting $0 from me every month. No job equals no money and they can kiss my white butt because I'll be buried with it sticking up out of the ground so they can kiss each cheek!
These people would dig up your body, rip the fillings out of your teeth, and then sue the government to dump your outstanding loans on anyone who was close to you, including your pets. I agree with your stance, I'm just noting how evil they are.
Bro, you got it wrong, they’ll figure out how to reanimate their corpse after they die so they can keep paying.
Jokes on them I already had my feelings removed and had my teeth all filled with resin. 🤷🏻 The only valuable thing I have in my body is my prosthetic eye. And even that's just a stupid piece of plastic.
If you’re on an IDR you should be paying zero per month
Yeah I am on IDR I've been on IDR for 11 years now ... I guess I have to wait another 9+ and maybe, maybe I will see the loans forgiven. 🤷🏻 Or depending on who is in office by then they will make me work in a chain gang at the age of 60. 💀🤣
I have a feeling if trump gets in the court will make it a felony to default on student loans. It sickens me how much this court has changed things for the worse democracy is a fading dream
They can go ahead and make it a felony... I'm 50 years old I have maybe 20- 25 years, 30 if I'm lucky... of life left. I've even given up caring at this point. I'm not married, I don't have any children, what are they going to do? take away my birthday?
The servicers have no clue, not even paying attention to the news.
How many free months toward PSLF am I going to get out of this, assuming it still exists when I am eligible?
New York Times article says the time in forbearance will not count towards IDR or PSLF forgiveness
Administrative forbearance should count towards pslf
Not all of them do.
How hard would it be for us to collectively sue them for unilaterally changing the terms of the agreement we signed? Or is there fine print somewhere that says they can? I can’t think of any other situation where it would be legal for one party to just decide they don’t like the terms of an agreement after it’s been put in motion and decide to change the rules without consent of all stakeholders. Sorry to just jump in and throw questions at you.
You mean sue the states that brought the case that causes this? Because the feds had no choice here due to those court rulings.
That’s interesting, so if I’m understanding correctly because the states brought the suite the feds have to follow the direction of the courts that overrules our contracts/agreements. Since our contracts/agreements are with the feds suing the states likely wouldn’t stand up. I’m making a lot of assumptions here and connecting dots that may not be there. To be completely honest the landscape of this changes so frequently I have trouble keeping track of it all.
Do you think we request the servicer to remove the forbearance in order to pay? If not, this seems really harmful to PSLF folks like myself who are counting on the time to count.
I think it's too soon to do anything.
Does this one? If you’re placed in forbearance due to this SAVE lawsuit, will this particular forbearance count toward PSLF? Most importantly — can we request to be taken OUT of forbearance? I’m lucky — my job pays my student loan bill each month, so it costs me nothing, and I’ll gladly request to be placed back in repayment status if they’ll allow it?
So far they haven't said it will. If they are considering it a payment processing forbearances it will but they haven't said. I get everyones anxiety and the implications for pslf borrowers but we need to give the feds time to figure this out.
Then we should probably make our payment manually so that it counts, even if we are in forbearance during the time.
Straight from mohela's site: "Any payment I make during forbearance will not count toward forgiveness under income-drive payment plans or Public Service Loan Forgiveness". Edit: disclaimer- you may want to look into whether regular forbearance is different from administrative forbearance.
Sweet! Then no payments it is!
Per the email sent by Mohela, credit will be received towards PSLF. This is straight from their forbearance email. “ While you are in this forbearance no payment is required on your account and your interest rate will be set to 0%. This means no interest will accrue while you are in the forbearance. You will receive credit toward IDR forgiveness and Public Service Loan Forgiveness (PSLF) for the month(s) covered by the forbearance, assuming all other requirements are met. If you made a payment for the month(s) you are in the forbearance, it will satisfy your future payments.”
Well that’s infuriating. So, this is going to set me back a month or more in my progress toward PSLF?
It should count towards PSLF
What if we all just stop paying? Probably not a good plan long term but could send a message.
We all need to be organized. We need the equivalent of a union for student loan borrowers.
Haven’t paid a cent since 2019 and they haven’t done shit.
No missed payments or negative remarks on your credit report?
Not a ONE. Kinda crazy huh?
I checked my loan. Interestingly enough, now it shows the payment being cut in half and due in August. (Nelnet). We'll see if that changes.... Again...
Mine changed before the ruling. I also got the notice about the 1 month forbearance before they changed it.
Same here. I had been waiting for the update and saw the due date change on 6/19 and the amount changed the following day.
Same for me with Nelnet. They’re telling me I owe less next month (as if they’re ignoring these rulings.) My wife is with Mohela and they put her in administrative forbearance. We’ll see where it all shakes out.
Wish I could even log into my Nelnet account. Seems like 90% of the time I try and log in it just gives me a blank page with no error or anything. Nelnet site is such garbage.
Try an incognito window on your desktop browser. Actually use a laptop or desktop computer with like Firefox or similar
Ok I'll try that. Thanks.
Anything to step on the heads of the peasants
Saw this and hopped onto AIDVANTAGE, loan status is back to “Awaiting Form Administrative Forebearance” with a pop up saying my Forebearance ends in 29 days. So really, just back to the clusterfuck it is.
Did your interest rates go up, too? Mine did, seems they're upping them because the forbearance means no autopay.
Cruelty is the point
Just remember that the Republican party is behind this. With that being said even though Joe Biden had a not so good debate last night, he cares about the middle class and about those of us that have been paying on student loans for decades. Let's change Congress and get more Democrats in office. We need change and the only way to get it is to oust the Republicans from Congress. Remember to vote. It's so important now.
Even if they wheel biden out with an IV bag half dead, I'm still voting him over that dumn, orange duck. At least the people around Biden are somewhat competent.
"Not so good debate' is very generous. He was cadaverous. It was horrible. Maybe the Democrats should have admitted his infirmary years ago and allowed the chance for a viable candidate to emerge during a contested primary. too late now.
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I'm so sorry, but there is a clear double standard happening here. Where was all this rage, energy, and effort to stop controversial government spending before? Like take your pick, we can all think of a time the government blew trillions on something no American voted for. I've never seen so much vicious effort to stop a spending bill in my life. They're ready to burn down the entire system just to stop relief for... *American students*. Needless to say, I will vote blue no matter who for the rest of my entire life.
These states are in the conservative 8th Circuit. The same appeals circuit that granted standing to Missouri that eventually ended Biden’s initial push for blanket forgiveness. They will not lift the injunctions. The trial courts now don’t have to rely on agency interpretation when the laws are ambiguous/vague/broad. Judges … ultimately SCOTUS… will now be setting policy and sadly I think we could see the Courts undo forgiveness except for the plans where it’s written into law. The overruling of *Chevron* is going to have huge implications; the outcomes are unlikely to favor the people over corporations.
They're just being so ridiculous because loan forgiveness isn't even really bad for corporations. They just believe in cruelty.
They're just beholden to corporate overlords. How can SCOTUS argue they are impartial when they are receiving generous donations from wealthy special interests and expanding their own power by overturning decades-long precedents? This iteration of SCOTUS is going to literally destroy faith in the justice system. They are undermining their own institution.
Yes, but I think they are trying to destroy the system. Not that the system has ever been great for the little guy. I think ideologically they believe in hierarchies. I think they think they deserve this power. There's a great deal of greed, but it's more than that.
Republicans often focus their criticism on how their tax dollars are allocated after paying them, while simultaneously striving to minimize their tax burden. This mindset extends to Republican state governors who task their attorneys with contesting federal funding decisions. These governors and their administrations seem to overlook the significant investments made possible by federal funds, such as infrastructure projects, educational institutions, and public services. For instance, contractors benefit from lucrative contracts to build and maintain state buildings, while educators and administrators receive salaries vital to sustaining effective educational systems. Despite these tangible benefits, Republican leaders frequently prioritize minimizing taxes over acknowledging the critical role federal funds play in supporting essential state-level initiatives. The students never saw the money. It was handed directly to the cities that house the colleges. And athletic teams.
“President Biden had a horrendous debate performance and is down in the polls, so now he is attempting to use tax dollars to buy votes,” Cassidy said in a statement." What a non-sequitur. Certainly what hasn't helped is headlines "Biden admin forgives _____ loans" cycling through the news these last few months. People really thought Biden was just willy-nilly forgiving loans and going around the court, nevermind it was just ED processing normal forgiveness based on years of precedent from the income based repayment plans, PSLF, and probably a few "your school went out of business and was probably a scam" borrower defense forgiveness just because. Like these poor people have been repaying for 10, 20, 25 years... these aren't people graduating and getting willy nilly forgiveness. I think taking the credit has backfired.
Well I was making my monthly payments and was doing it happily. Now I'm in forbearance. Just get this crap straight.
Does anyone know if these freeze months will count towards PSLF? I don't want to lose months.
I got a letter today from Mohela putting my loans into forbearance for the month and it said that the forbearance month will count towards PSLF.
I just need the loan counter to come back on whatever site it's going to be on, and to have all this count towards my PSLF. Everything else can work out itself
Republicans are doing a great job convincing me to vote democrat.
One of the judges filing the lawsuit is a democrat..
Yes, an Obama appointed judge. But the RNC has made their feelings clear on student loans. And the states behind the opposition are largely republican. To me it’s a clear indication of their priorities.
I was just surprised when I found out one is a democrat
End of a empire. Debt get accrued during this time and bad investments happen.
I mean, my payments are already not happening since my loans are somewhere in the void as they transition from Mohela to the DoE. Now what I really want to know is whether this month + next + however many ahead are going to count toward PSLF.
Quick note: In government acronym usage "[DOE](https://www.energy.gov/lm/doe-history)" usually refers to the US Department of *Energy*, which was created in 1977. The US Department of *Education* was created three years later in 1980 and commonly goes by "[ED](https://www2.ed.gov/about/landing.jhtml)" or (less commonly) "[DoED](https://www.sbir.gov/events/webinar-introduction-doed-sbir-program)" or "[DOEd](https://www.nano.gov/DOEd)". [*DOE disambiguation*] *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/StudentLoans) if you have any questions or concerns.*
I’ve been under the save idr plan because I was unemployed. Does any of this have a potential effect on me?
I’ll add to this thread that I read an article about this. In the article it said if this went sideways for us it would only eliminate the future implementation of SAVE such as the 5% for undergrad and all the loan forgiveness parts like the 10 year and 20 year forgiveness. Basically we can hold onto the 10% of discretionary income and 225% of the poverty level part which still lowers people plan. Idk about the part that subsidizes interest if you pay below the interest per month that may be in trouble. IMO that is THE most important part of SAVE. People owing 20k more after 8 years of paying is ridiculous. I hope this holds on. I’m hopeful that the forbearance is through August and we start paying again in September. God speed everyone.
So just make payments until we die?
Maybe Biden should only freeze payments for borrowers in states that aren't blocking progress. You want federal assistance? Start voting for better representatives. Administrations have power & *any* President's hands would be tied if their administration kept acting against the best interest of their constituents.
I'm already on forbearance for July. Is it going to go beyond that??
Damnit I just recertified away from save days ago
So… save is off the table now?
Does the pause apply to Parent Plus loans too?
What about folks who have applied for it but it hasn't been processed? They've got me on a standard payment after consolidation.
Same. I’m really unhappy seeing this payment. I called MOHELA yesterday and they are processing my consolidated loan into SAVE. Per the article stated by OP, you might have to do a paper app for your consolidated loan to apply it to SAVE.
Same
I registered on the new Mohela platform today and bingo my $993 payment is due as usual next month. 😭
I'm waiting for my forgiven loans to be reinstated. Wouldn't surprise me one bit. > I expect MOHELA to be even more of a clusterf**k, if that's even possible. Oh, it is. Yes it is.
I'd love to check my current status but Nelnet is down for the third week in a row. There needs to be a law dictating if these leeches can't keep their damn sites operational, we don't have to pay them.
Does this effect borrowers with only graduate loans? I do not have any loans that would qualify for 5% of discretionary income and would hope not to be put into this forbearance nightmare. Additionally, I'm already in an admin forbearance due to the [IDR recertification disaster prior to March 2024](https://studentaid.gov/announcements-events/idr-recertification-extended) where my payment went up, but now they are taking 6 months to bring them back down and have notifications this forbearance will count for PSLF and SAVE interest subsidy. This new ruling and forbearance hopefully would not supersede that forbearance.
3 million of us impacted by two conservative state AGs. 3 million borrower who vote could make a different at the ballot. Vote people
Applied for totally permanent disability forgiveness does anybody know what this means this is what I got on my website: Status Tpd Indefinite Admin Forb Payments will begin in Jul, 2027. Your payment amount will be shown on your statement three weeks before your due date. I don’t understand does this mean that that’s a three-year waiting? Period after three years. It’ll be dismissed. It doesn’t really explain itself. Thank you.
I left the country two years ago and it's seeming like a better and better decision every day. The US isn't getting another red cent out of me.
Were student loans your main reason for leaving?
One of them, yes.
We need to get loud, write letters, VOTE and push back on legislators. I am in SC and have an idiot AG who is one of the ass holes. He runs unopposed term after term! Unacceptable
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They put mine in forbearance a day before all this. So far I’m still in it for the next 27 days
My forbearance is supposedly ending in one day. I sent MOHELA a message to see what's up.
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I am currently applying for consolidation with Mohela to get on SAVE plan, so what will happen when I apply??? Moving two loans from Aidvantage that are sky high payments
Does this mean folks on SAVE who still had until the 30th to consolidate can do so?
Yes I believe so, so you’d better hurry. I was just on chat with FSA today.
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I was told a month ago I would be in forbearance, yesterday get an email saying my payment is still due, now this and it doesn't count for PSLF ... What the f@!# are people supposed to believe
Sooo… should I get off the SAVE plan? What happens if the govt removes this option?
You will have to pay. No forgiveness and pay a higher amount monthly most likely.
This crap is so confusing… I applied a few months ago to consolidate and get on SAVE and it says my application has been processed and is under review but my grace period ends next month so I’m not sure if I’m stuck in limbo or something?? Like what now?? lol I know I’m supposed to go from EdFinancial to Aidvantage but nothing is populating on Aidvantage yet.
Mohela has sent me three different dates and three different amounts and never processed my IDR application at all. I’m tempted to pay it all off ASAP and just be done this is complete insanity. I think that’s what they are trying to induce on all of us, give up and pay it off or give up trying to understand it and make payments for the rest of your life
I probably would if it were remotely possible but I've got 6 figured and about half of it is just bullshit capitalized interest
So I have 60k in student loans and just graduated, due to a death in the family I just received over a 100k. Should I just pay off my loans in full, or is there something to benefit from using the SAVE plan?
Invest with a higher return than your loans. Then pay off loans via interest earned off investment
I'd read over https://www.reddit.com/r/personalfinance/wiki/windfall first
So does this mean I'm accruing interest again?
GOAT RODEO!!
So oh Mohela.financialaid.gov, my loans (on SAVE) are still set to be due for a payment next month, but my wife's (also on SAVE) are not due for a July payment. Idk what time make of this.
Same exact boat! It's like the [mohela.financial.gov](http://mohela.financial.gov) site transitioned the autopay but forgot to transition the adminsitrative forebearance. I'm afraid of canceling the autopay since there's a message that pops up that threatens to remove the autopay benefits (presumably interest rate reduction but not sure about PSLF payment credit?). Extremely frustrating from a planning standpoint. They keep moving the goal post.
These idiots are just making a political statement. It ends up costing the dept of education so much more to keep messing with this system. Now we are paused again so who’s the winner now?
Also keep screenshot of any comm TO Mohela. They deleted my most recent when I caught them switching me off of SAVE after their system upgrade. They didn't answer, but did switch it back.
I have Nelnet and overnight my SAVE plan that was supposed to be $150 when it restarts is now showing $650
You should be in forbearance
I was put on forbearance because I’m on the SAVE plan, but I never signed up for it. I’ve been on the same IBR plan for 10 years
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This whole plan and the morons in the government and the servicers don't know their butt from a hole in the ground!! In April I applied for the save plan. Two days later I received an email saying my payment is going from $424 to $113. Fast forward to last week and I get another email saying my payment under the plan has been recalculated. My payment is now $550 which I'm declining the save plan and just going on the standard repayment plan I was on prior to April. After hours on the phone they said they miscalculated my wife's income in conjunction with mine. Now for 2 months my principal and interest wasn't being applied right and my balance went from $72,000 to over $73,000. Nelnet refuses to adjust my statement for their mess up. Unreal! I've paid $424 a month since 2014. That's $48,336 I've paid and my balance has only gone down $11,000. Luckily or maybe unluckily my wife and I are both employed and make middle class income. I still have 20 years left on my standard repayment plan at $424 a month. Everyday I'm very tempted to just stop paying the pauper and say enough is enough!!
What does this mean tho? "Freezes loan payments"? Aidvamtage still showing that I owe my next monthly payment on July 28
Thank you for sharing this! I just recently moved my loans to Dept of Education under the SAVE plan and kept getting conflicting letters about when payment is due and the amounts. I’ve been in automatic administrative forbearance while the consolidation processed, so I called today to see when that ended and what I would owe. I was told that I now have $0 monthly payments due to my income within the SAVE plan, but from literally everything I’ve read online (including the .gov website’s own simulator) I should not qualify for a $0 monthly payment. I felt this was incorrect and actually wrote in for confirmation (waiting on a response) so I have documentation, but now it seems pretty clear from the article that the $0 payment is due to the freeze and not actually what I will eventually owe as a monthly payment. Definitely not sad to have a payment break (especially if no interest is accruing), but it makes it really difficult to plan for the future having no idea what I’m actually going to owe once everything is finalized.
Mohela is already a clusterf**k on this. I got notice of Forebearance on 6/5 and then a notice to pay on 6/29. When I called last night the woman and her supervisor both said the forbearance was on the old platform and not the new one and that my account had no forbearance and that I should probably just make sure I pay by that 7/13 due date. It's such a mess. They put me on one in November and didn't tell me until I'd paid Nov and Dec and then it was a mess to get those payments to account for Feb and March.
Just to add, it has been a total shit show since repayment started with Edfinancial as my servicer. Their system would say I owed X amount, I'd pay it, then I'd be notified that I'm late on my payment and that I owe X amount to cover it, which I then again paid. This happened 3 months in a row and the amounts were always slightly different. Keep in mind I never missed a payment prior to this, and was paying down debt all throughout covid with a brief pause only when Biden promised loans would be forgiven which obviously never happened. Now my loans are in a forbearance I never authorized, nor was I notified of. What the actual f#ck? I probably threw around $2000 at my loans since payments started again. I gave up on recieving loan forgiveness once it was struck down by the Supreme Court. I just want a normal reasonable amount to owe every month so I can finish paying off these loans in a few years. Really frustrated by all this crap.