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Zophar posted:The thing that's unclear to me and what matters the most to me personally is if the change in discretionary income is *just* for the new IDR terms, or if this change applies to all loan types. I have a consolidated Direct Loan on PSLF which I had to take out to consolidate my undergraduate and graduate loans in order to qualify (and which we were all encouraged to do to get the temporary waiver this year). The change in monthly payment caps would be immensely helpful but if I'm carved out for arbitrary reasons I'm not super happy about getting thrown back to the wolves in January, same as it ever was. You can get all of those new changes (interest capitalization changes, IBR forgiveness, etc) on any loan type, but the 5% discretionary income cap is only if you have undergrad loans. Grad loans are capped at 10%, but grad loans do get the new discretionary income calculation where the exempt amount goes to 225% poverty level (from ~$13.5k to ~$33k). PSLF and IBR/the new IDR are separate things and you can be on both PSFL and IBR at the same time. The IBR/IDR determines your monthly payment. The PSLF determines your forgiveness after 120 payments or 10 years at a qualifying job. Leon Trotsky 2012 fucked around with this message at 04:17 on Aug 25, 2022 |
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Aug 25, 2022 04:09
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Leon Trotsky 2012 posted:You can get all of those new changes (interest capitalization changes, IBR forgiveness, etc) on any loan type, but the 5% discretionary income cap is only if you have undergrad loans. Grad loans are capped at 10%, but grad loans do get the new discretionary income calculation where the exempt amount goes to 225% poverty level (from ~$13.5k to ~$33k). This is all I need and I'm happy to have if this is correct (that I'll also benefit from the new income calculation). I'm a teacher turbofucked by student loans and living in a red state that hates me, so I only make around 400% federal poverty guidelines. If my monthly IBR payment drops from $300 to $150 it would do a lot to make the last leg of PSLF manageable, since I also have a whole basket of private student loans to deal with.
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Aug 25, 2022 04:12
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Kind of off topic but what the hell happens when both trump and DeSantis announce they are running?
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Aug 25, 2022 04:14
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It feels like there's a whole shitload of stuff buried in this that's just coasting by outrage cycles because of comparatively smaller direct forgiveness, which if so, lol. Next few days as numbers and policy people dig into it should be interesting.
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Aug 25, 2022 04:15
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I have no student loan debt and make over the income cap, so I am not directly affected. But I see a lot of friends who are suddenly happier, and one who is making a major career move, because of this. More than anything else the Biden administration has done, and I say this as a single issue climate voter, this can make a positive impact on a lot of peoples' lives.
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Aug 25, 2022 04:15
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Tnega posted:Forward party did an FAQ: I'm three minutes into this and this already doesn't match up. Their response to the question about being a spoiler is that they're hoping to have ballot access in all 50 states by 2024 and have no plans to run a presidential candidate, wanting to focus on lower level races, especially uncontested local positions.. They do then also explain that the spoiler effect is an explanation for not changing a bad system, better voting system means spoilers are not a thing. Why now? Because 62% of Americans have said a 3rd party is needed in polling. Forward derangement syndrome is weird because they're such a non threat.
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Aug 25, 2022 04:16
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Thanks for the info..just really feels like poo poo knowing you did everything "right" according to what we were told to do, and we specifically get hosed for doing it. We were told all our lives to go to school, get a degree, blah blah blah. We do that, we accrue all the student debt that comes with it, we ACHIEVE what they told us we should aspire to, and what do we get for it? Getting to see that it was worth gently caress all from top to bottom and that even if you do what is expected of you, you're still gonna get triple hosed in the process. I'm glad for everyone who gets a leg up from this, but goddamn it I feel like I deserve something for this poo poo. And if I'm lucky, I will pay this off by the time I'm 43. I left school in 2013 when I was 23. 20 years to pay off the cost of the success I was pushed incessantly into chasing. gently caress this poo poo
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Aug 25, 2022 04:16
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HonorableTB posted:Thanks for the info..just really feels like poo poo knowing you did everything "right" according to what we were told to do, and we specifically get hosed for doing it. We were told all our lives to go to school, get a degree, blah blah blah. We do that, we accrue all the student debt that comes with it, we ACHIEVE what they told us we should aspire to, and what do we get for it? Getting to see that it was worth gently caress all from top to bottom and that even if you do what is expected of you, you're still gonna get triple hosed in the process. I'm glad for everyone who gets a leg up from this, but goddamn it I feel like I deserve something for this poo poo. And if I'm lucky, I will pay this off by the time I'm 43. I left school in 2013 when I was 23. 20 years to pay off the cost of the success I was pushed incessantly into chasing. gently caress this poo poo The new IDR stuff will benefit you and your partner a lot. You'll still have suck it up and pay for a while, but the payments will get significantly smaller and eventually forgiven. Sucks that it isn't all gone right now, but the IDR changes will still save you a ton of money over the long run and free up a lot of extra discretionary money each month.
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Aug 25, 2022 04:20
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HonorableTB posted:I'm happy people get student loan forgiveness, I just wish I qualified See if you can get married and qualify for the 20k that way
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Aug 25, 2022 04:20
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Feels dumb to complain about having student debt while being over the income cap but I had the Pell grant and this would have cut my debt load by 2/3. This poo poo should have just been universal, but no. Had to be means tested, of course. I didn't get any of the Covid stimulus payments either. I also happen to live in an extremely high cost of living area where basic six figures is equivalent to about $50,000 elsewhere and my rent is close to $3,000/month. Means testing is dumb, if they can forgive the debt for people making under $125k then they can forgive the debt for everyone. My partner has over $200k in debt thanks to grad school, and this forgiveness helps her gently caress-all. She's never going to pay that off, ever. She'll die with that student loan debt still hanging around her neck. The $10,000 forgiveness she's eligible for will be erased in a few months of interest accrual on her Federal loans.
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pencilhands posted:the big question on my mind - what are the chances our extremist SCOTUS messes this up? I'm not clear that this is even contestable. It's the government's loan to forgive. Who could have standing to oppose it?
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Aug 25, 2022 04:23
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Gumball Gumption posted:Their response to the question about being a spoiler is that they're hoping to have ballot access in all 50 states by 2024 They also said that the spoiler effect isn't real. Of that 62%, 2/3rds want something vastly different to forward. Its fine if you like the Forward Party, I would only ask "why".
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Aug 25, 2022 04:28
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cr0y posted:Kind of off topic but what the hell happens when both trump and DeSantis announce they are running? No one knows, but my money is on DeSantis gunning for VP because the other way around will never happen
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Aug 25, 2022 04:29
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Hieronymous Alloy posted:I'm not clear that this is even contestable. It's the government's loan to forgive. Who could have standing to oppose it? Yeah, this was one thing I was wondering, who even has standing to sue? Who is damaged? We've already established that "concerned taxpayers" can't sue for government "illegally wasting their tax money", and angry politicians who got outvoted can't go to court. A future GOP congress might demand a change in budget negotiations with Biden, but I don't see who can even get this into court.
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Aug 25, 2022 04:32
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Tnega posted:They also said that the spoiler effect isn't real. I just believe in hating with clear hearts and open eyes. You couldn't properly summarize the video.
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Aug 25, 2022 05:25
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So does one have to do anything for the loan stuff or is it going to happen automatically?
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Aug 25, 2022 05:29
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Bar Ran Dun posted:So does one have to do anything for the loan stuff or is it going to happen automatically? probably a better topic for the details thread tbh, but my understanding is that you should at least check and see if you need to make a perfunctory declaration that you're eligible you know, once the websites involved stop burning to the ground
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Aug 25, 2022 05:42
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GreyjoyBastard posted:probably a better topic for the details thread tbh, but my understanding is that you should at least check and see if you need to make a perfunctory declaration that you're eligible I've logged into both StudentAid.gov and my servicer, NelNet, and I don't see anything about a declaration of eligibility.
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Aug 25, 2022 06:01
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cr0y posted:Kind of off topic but what the hell happens when both trump and DeSantis announce they are running? I'd assume they'd cancel each other out in the primaries and some rando gets the nomination instead.
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Aug 25, 2022 06:58
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cr0y posted:Kind of off topic but what the hell happens when both trump and DeSantis announce they are running? DeSantis probably loses.
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Aug 25, 2022 07:35
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Yeah, DeSantis may be what post-Trump Republicans look like but at best he's still on the level of the worthless assholes Trump comically steamrolled in the 2016 primaries.
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Aug 25, 2022 08:09
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DeSantis brings the mentally competent authoritarianism and coordinated neofascist culture war appeals. But Trump has the image and the cadence and all the behavioral appeals they love, so through empty rear end in a top hat charisma that speaks to empty assholes, he captures the American conservative heart.
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Aug 25, 2022 08:18
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cr0y posted:Well my very far left friend who has no debt said "well they should have given a tax credit to people who already paid them off" If your friend is still that bound by the politics of spite and envy then whatever their pretensions they're not actually very far left at all
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Aug 25, 2022 08:30
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Like the whole premise of student loan refunding is that entire generations were scammed into predatory loans with full government assistance based on empty promises of future employment prospects backed up by literally every single authority figure in their entire lives, and pressured into undischargeable debt often straight after turning 18. 'You took a loan, you pay it back' is a ridiculous and deliberately reductive take on the situation that ignores literally all the context. It's still stuck in the liberal idea that norms and laws are actually there to benefit them. Biden's barely even made a dent in the damage he's personally done.
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Aug 25, 2022 08:56
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Aug 25, 2022 09:06
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Or a PPP loan which was just free money for the small business owner tyrant class
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Aug 25, 2022 10:27
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Kavros posted:DeSantis brings the mentally competent authoritarianism and coordinated neofascist culture war appeals. But Trump has the image and the cadence and all the behavioral appeals they love, so through empty rear end in a top hat charisma that speaks to empty assholes, he captures the American conservative heart. Ron brings a lot of this to the table as well. He's just not famous for being on The TeeVee and without the benefit of being a household name. If anything, he delivers the same red meat and horrible opinions about poo poo but in a much more polished and less idiotic way.
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Aug 25, 2022 11:20
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Just think of all the jobs loan relief will make. If you're opposed to loan relief, why do you hate creating jobs? So many jobs.
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Aug 25, 2022 11:44
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ColdPie posted:Just think of all the jobs loan relief will make. If you're opposed to loan relief, why do you hate creating jobs? So many jobs. Mostly it will create housing payments, if I had to guess.
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Aug 25, 2022 12:16
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Sodomy Hussein posted:Mostly it will create housing payments, if I had to guess. It'll probably also go to discretionary spending and retirement savings too. I think the poster you are replying to is being facetious though.
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Aug 25, 2022 12:26
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Sodomy Hussein posted:Mostly it will create housing payments, if I had to guess. Yes, exactly. Suffering job creators will put this money to needed expenses so they can get back to the business of making more jobs. Jobs.
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Aug 25, 2022 13:02
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Leon Trotsky 2012 posted:You can get all of those new changes (interest capitalization changes, IBR forgiveness, etc) on any loan type, but the 5% discretionary income cap is only if you have undergrad loans. Grad loans are capped at 10% What about direct consolidated loans that are a combination of undergrad and grad?
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Aug 25, 2022 13:04
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Bar Ran Dun posted:So does one have to do anything for the loan stuff or is it going to happen automatically? If the DOE has your income information on file (from IBR, PAYE, filed out a FAFSA form in the last two years, provided your tax return to them for some income verification process in the last two years, etc.), then it is automatic. If not, then you need to go online and fill out a short online firm to "affirm" that you made less than $125k/$250k in either 2020 or 2021. SourKraut posted:I've logged into both StudentAid.gov and my servicer, NelNet, and I don't see anything about a declaration of eligibility. The page isn't up yet. The announcement yesterday says it will be up "shortly." You can enter your email on this page: https://www.ed.gov/subscriptions To get an automatic email update from the DOE when the page goes live. The Slack Lagoon posted:What about direct consolidated loans that are a combination of undergrad and grad? They qualify for current IDR plans, so I believe they would also qualify for the new IDR payment plan. This is the one question I am not 100% sure about because they haven't put out the deep dive details yet and the summary just says you can get the 5% cap if you "have debt from undergrad." All the other interest capitalization changes/elimination of interest, the new 225% poverty line exemption limit, and forgiveness at 10 years (if your balance reaches or starts at 12k or below) or 20 years are all available to all of the IBR/IDR loans. The main difference is just the 5% vs 10% cap. Since the consolidated loans count as "undergraduate debt" for current IBR/IDR plans, it seems very likely they will for the new IDR, but it isn't 100% confirmed. Leon Trotsky 2012 fucked around with this message at 14:19 on Aug 25, 2022 |
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Aug 25, 2022 14:11
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cr0y posted:Kind of off topic but what the hell happens when both trump and DeSantis announce they are running? I don't think that will ever happen. I think DeSantis knows competing against Trump directly is the kiss of death for his political career. He'll wait to see if Trump runs, then wait four years and "take the torch" or whatever fascists do when they take over from one another. DeSantis is a more dangerous Trump, but he can't survive competing directly against him because he'd have to hit back at Trump as hard as Trump would hit him, and I suspect he (and I) thinks the base would turn on him if he did that.
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Aug 25, 2022 14:58
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Lumpy posted:I don't think that will ever happen. I think DeSantis knows competing against Trump directly is the kiss of death for his political career. He'll wait to see if Trump runs, then wait four years and "take the torch" or whatever fascists do when they take over from one another. DeSantis is a more dangerous Trump, but he can't survive competing directly against him because he'd have to hit back at Trump as hard as Trump would hit him, and I suspect he (and I) thinks the base would turn on him if he did that. DeSantis was polling neck-and-neck with Trump in a hypothetical primary, before the Mar-a-lago raid, and was clearly gearing up to run. That said, he's clearly keeping his options open so he can pivot based on what it looks like in 2023.
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Aug 25, 2022 15:04
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If DeSantis were just a year or two younger he'd be a millennial, he can afford to bide his time and build his extremely evil brand which is why I really hope he does the extremely dumb thing and takes a shot at the king and goes down in flames for his efforts
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Aug 25, 2022 15:06
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If Trump wriggles out of this one there is no way he doesn't become the GOP nominee. The power brokers will instantly forgive him and the base never turned away
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Aug 25, 2022 15:07
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If DeSantis does attempt a coup, it'll be funny when no one backs him and we get the new version of the image of Romney finding out that power is real over lobster: The RINOification of DeSantis will be pretty crazy to watch. Getting disavowed on Tucker, the works.
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Aug 25, 2022 15:11
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evilweasel posted:DeSantis was polling neck-and-neck with Trump in a hypothetical primary, before the Mar-a-lago raid, and was clearly gearing up to run. That said, he's clearly keeping his options open so he can pivot based on what it looks like in 2023. I suspect those number would change if Trump started attacking him, and even more if DeSantis started attacking Trump.
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Aug 25, 2022 15:23
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FizFashizzle posted:Or a PPP loan which was just free money for the small business owner tyrant class My extremely small, barely-breaks-even family business was eligible for a PPP loan. I didn't want to take one, and talked the rest of the family out of it for two reasons. I didn't want to deal with the bureaucracy of applying for it, and at the time, I held the I-absolutely-can't-be-wrong-about-this conviction that a PPP loan would have to be paid back in full, with interest. Feel free to laugh at me, especially if it brightens your day.
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Aug 25, 2022 15:46
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cr0y posted:Kind of off topic but what the hell happens when both trump and DeSantis announce they are running? some sort of battle to do the death ala thunderdome. edit: I should add some content. Desantis is my governor. He is all about throwing red meat to the base in the form of 'Don't Say Gay Bill's and whatnot and then helping out the real estate industry while his base is placated. He is pretty much designed to be the fascist overlord the republican donors want. ManBoyChef fucked around with this message at 16:00 on Aug 25, 2022 |
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