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Awwww yeah got my relief application approval email today!
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Nov 22, 2022 16:42
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The Illusive Man posted:Also of note, there are some rumblings of possibly extending the repayment freeze further past 12/31/22 while the $10K/$20K forgiveness is in legal limbo. It's official: https://twitter.com/POTUS/status/1595150070285885440
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Nov 22, 2022 21:30
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We are never repaying these loans lmao.
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Nov 22, 2022 21:42
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skylined! posted:We are never repaying these loans lmao. Not so long as Democrats are in charge. The second Republicans take control, I can see them not only lifting all pauses, but declaring that everyone paused owes back interest for each month paused.
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Nov 22, 2022 21:46
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Well that was announced sooner than I expected.
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Nov 22, 2022 22:03
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Great news but the messaging is a bit confusing. It makes it sound like the pause is extended until 6/30, but if the courts ease up they could start up anytime before then. And in all cases it's another 60 days until they turn back on for real, so wouldn't that make the pause actually until 8/30 at the latest?
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Nov 22, 2022 23:03
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What did this say? It looks like the tweet was taken down.
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Nov 22, 2022 23:56
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It's there for me, but:Biden posted:I'm confident that our student debt relief plan is legal. But it’s on hold because Republican officials want to block it.
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Nov 23, 2022 00:13
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Twitter's been having intermittent outages for uh . . . reasons. It can make it look like a tweet is deleted.
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Nov 23, 2022 01:28
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Yeah, that's really weird; I can see it now, but before it had the 'this tweet is unavailable' message. Thanks.
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Nov 23, 2022 02:13
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Zophar posted:Great news but the messaging is a bit confusing. It makes it sound like the pause is extended until 6/30, but if the courts ease up they could start up anytime before then. And in all cases it's another 60 days until they turn back on for real, so wouldn't that make the pause actually until 8/30 at the latest? It's "whichever is sooner". So they (currently, supposedly) will turn them back on on 6/30, or if the courts decide in their favor, 60 days past the court decision.
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Nov 23, 2022 02:22
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I’m gonna wager the pause lasts past that if we don’t get the relief.
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Nov 23, 2022 13:35
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GSV gently caress Your God posted:Thank you. Mine originated as Pell grants that I later consolidated with a private entity but that still appear on studentaid.gov. I filed the application for forgiveness anyway but don't expect that to do anything and have 0 expectation that anything useful to me will arise from any discussion between lenders and DOE.
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Nov 23, 2022 16:54
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GSV gently caress Your God posted:Update: I filed mine despite not believing it would work and received a "Your Student Loan Debt Relief Application Has Been Approved" notice this morning. Maybe in the end I won't receive it but there's some good news at least. Yeah my consolidation hasn't even gone through yet and mine got approved so... I'm not sure the DOE application looks past "ok we see your income info from the IRS" for an approval.
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Nov 23, 2022 16:57
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I wonder if this moratorium extension might influence the court. Nothing apparently stops him from extending it another two years if he wants, at some point it's going to be worth more than the 10k/20k one-time forgiveness, and it also applies to new loans being taken out right now. And even if he doesn't get reelected, that means saddling his republican successor with the problem of continuing the moratorium or pissing off everyone with student debt
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Nov 23, 2022 17:10
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VitalSigns posted:I wonder if this moratorium extension might influence the court. The moratorium is already much more expensive than forgiveness. Forgiveness is estimated to cost around $400 to $500 billion. The pause costs about $50 billion per month. The moratorium is based off of a kind of vague law that allows the President to declare a temporary moratorium when there is an ongoing national emergency. There isn't an end date, but at some point, someone can sue and say "we are reasonably past a point of emergency and they are just extending it based on nothing, so it isn't really temporary or based on any specific emergency conditions" and see if the court decides that works. The second they declare they are extending it for infinity or multiple years, there will probably be a lawsuit. He is likely good for the next year or two without any issue, but eventually someone is either going to have to actually end it or will get forced to end it. If forgiveness does lose in court, then I think your scenario of just kicking the can until it is someone else's problem or their hand is forced is the most likely scenario.
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Nov 23, 2022 17:17
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Leon Trotsky 2012 posted:The moratorium is already much more expensive than forgiveness. Forgiveness is estimated to cost around $400 to $500 billion. The pause costs about $50 billion per month. So in other words just this lawsuit alone is going to end up forgiving 50% of the total amount of the actual forgiveness. Solely because it extended the moratorium for 5 months. And Biden could always do 5 more. Or actually 12 more since a lawsuit to force an end to it would take another year to work its way through.
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Nov 23, 2022 17:43
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VitalSigns posted:Interesting. I just double checked and misremembered. The last pause cost about $50 billion for the entire pause - not per month. The average monthly cost of the pause of between March 2020 and September 2022 was between $5 billion and $6 billion per month. The estimated total cost of the pause is currently $155 to $165 billion. If it lasts until June 2023, then it will be about $205 billion. Biden's forgiveness plan would cost about $400 billion for just the forgiveness, but the new IDR loan plan would also cost about $250 billion. For a total of about $650 billion over 10 years (with about half of that being heavily weighted towards the first year).
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Nov 23, 2022 17:47
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Dang. But those numbers make a lot more sense thanks for double checking.
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Nov 23, 2022 17:55
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https://mobile.twitter.com/Phil_Lewis_/status/1598156247060348928
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Dec 1, 2022 04:48
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This is a different case from the main one on the 8th circuit. They basically said, "The Supreme Court is already going to hear one case and we'll just kick it up to them so they can combine the cases." Basically, in the same situation as before where the Supreme Court has to decide whether they expedite it or not. If they do, then it could be resolved in 2 or 3 months. If they don't, then it could be 6 or 7 months.
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Dec 1, 2022 05:30
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SCOTUS agreed to take on the debt forgiveness case and expedite them. Court case starts in February.
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Dec 1, 2022 21:13
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Kind of a long shot but I'm not sure where else to ask: I've been sleuthing about trying to figure out a weird charge on my bank statement the past couple of months called "AMERICAN UN-[4 digits*] CONS COLL" for around $10, debited on 11/1 and 12/1, and the only thing I've been able to reduce it to is possibly "CONSolidation". *I don't know if the digits are relevant to any personal info, so I'm redacting them. Is there a recurring fee for consolidating student loans or something? I'm seriously puzzled right now because I literally cannot figure out what else this weird charge is otherwise. I haven't received anything from MOHELA to my knowledge, so I have no idea what's even going on when it comes to that. I submitted my consolidation request back in October, though...
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Dec 5, 2022 02:36
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Did some more digging around to find my loans disbursed to "Aidvantage", but while it shows my loan total on the account history, it doesn't say I have a loan there. I'm so loving confused.
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Dec 5, 2022 02:43
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Aidvantage handles the consolidation for MOHELA so that part checks out. I'm guessing your info will slowly update as it all gets into the system. For what it's worth I consolidated in August and mine still hasn't made it to Aidvantage... But I called them and they confirmed it's in the pipeline
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Dec 5, 2022 02:55
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BonoMan posted:Aidvantage handles the consolidation for MOHELA so that part checks out. I'm guessing your info will slowly update as it all gets into the system. Well, that's one piece of the puzzle explained, so that's good. I'll file that away under "watch and wait". The "CONS COLL" thing still concerns me though. Have you been getting a charge like that on your bank statements too? I suppose on your end it'd be on the first of the month since September since you consolidated in August.
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Dec 5, 2022 03:38
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Framboise posted:Well, that's one piece of the puzzle explained, so that's good. I'll file that away under "watch and wait". I don't have anything yet but I think it's just because mine has been much slower to go through the process than most people for.... Reasons that are unclear to me.
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Dec 5, 2022 16:38
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Framboise posted:Well, that's one piece of the puzzle explained, so that's good. I'll file that away under "watch and wait". I was not billed for my consolidation.
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Dec 6, 2022 06:10
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Just got an email (as we all probably have) about the status of my loan relief application. Essentially they are not allowed to actually say you're approved due to the litigation.quote:Due to a vendor error, you recently received an email with a subject line indicating your application for the one-time Student Loan Debt Relief Plan had been approved. The subject line was inaccurate. The body of the previous email was accurate.
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Dec 13, 2022 15:52
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Yeah, I got that too
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Dec 13, 2022 16:07
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My loans appear to have been forgiven. I'm waiting on the official correspondence, because at this point I have a hard time believing anything with my loans has gone right, but both Mohela and StudentAid.gov are showing $0 balances, and the .gov website shows that they are paid in full. I'm cautiously optimistic. I screwed up and neglected to consolidate my loans when I started working for the government in April 2010. I consolidated my loans in January 2014. Thanks to TEPSLF, those 3 1/2 years of payments were finally counted, and thanks to the COVID deferment, I hadn't made a single payment past what my 10-year mark would have been. I'm honestly not sure how I'll handle the feeling of relief once I get the official correspondence.
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Jan 5, 2023 14:53
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TheMadMilkman posted:My loans appear to have been forgiven. I'm waiting on the official correspondence, because at this point I have a hard time believing anything with my loans has gone right, but both Mohela and StudentAid.gov are showing $0 balances, and the .gov website shows that they are paid in full. I'm cautiously optimistic. Congrats! The one good thing about this constant delay is that Biden extended the pause until likely the end of August and all of those months count for PSLF. So, tons of people are basically getting 3.5 years of free PSLF credit.
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Jan 5, 2023 15:08
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Not sure if anyone is still following this thread, but last week the Biden admin laid out further details of their new IDR plan: https://www.ed.gov/news/press-relea...st-accumulation Interestingly, they are intending to revise the existing REPAYE IDR plan instead of creating a new plan. I assume that’s easier to implement legally, and also the REPAYE plan was available to anyone who had federally-held loans so this should also cover the most people as a result.
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Jan 16, 2023 16:26
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Any smart goons know if filing for debt forgiveness under their Public Service Forgiveness Program would cause problems getting my loans forgiven through Biden's program if it ever gets enacted?
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Jan 17, 2023 01:30
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Leon Trotsky 2012 posted:Congrats! that's... actually kind of a big deal, wow
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Jan 17, 2023 01:47
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BetterToRuleInHell posted:Any smart goons know if filing for debt forgiveness under their Public Service Forgiveness Program would cause problems getting my loans forgiven through Biden's program if it ever gets enacted? It won't. If you have already hit the 10 years required to do PSLF now, then you should do it.
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Jan 17, 2023 03:07
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I seem to remember a bunch of people got hosed by DeVos back in the Trump admin in public service forgiveness programs. Has that been righted by the Biden administration?
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Jan 17, 2023 03:16
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Bar Ran Dun posted:I seem to remember a bunch of people got hosed by DeVos back in the Trump admin in public service forgiveness programs. Has that been righted by the Biden administration? It wasn't so much people getting hosed directly by DeVos/trump and more that it was an incredibly complicated program with extremely specific requirements, and during the trump admin was the first time anyone could have qualified. Trumo didn't make any helpful changes, but the news around PSLF during the trump admin wasn't really actively their doing. They did want to get rid of pslf altogether but that would have required an act of Congress
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Jan 17, 2023 05:15
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They denied 99% of applicants. https://www.politico.com/story/2019/07/11/teachers-union-sues-betsy-devos-1583187 That seems like their doing
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Jan 17, 2023 05:20
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Applications that didn't meet the extremely specific requirements.
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Jan 17, 2023 05:26
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