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Main Paineframe posted:Anyone can try to file a lawsuit any time they want, but there's no guarantee that a court would give it the time of day. Yeah I remember I heard that before this lawsuit too
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Jun 30, 2023 18:27
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VitalSigns posted:Yeah I remember I heard that before this lawsuit too If they meant to ask "Is the Supreme Court going to overturn IDR", I would have answered that question*. Instead, they asked "is someone going to sue", and that's the question I answered. *The answer, since I know that's what you're really getting at, is "probably not, but who knows?". Income-based repayment is completely different from loan forgiveness, and has plenty of precedent given that it's been around for over a decade and has been expanded by executive order multiple times already. The courts can rule whatever they want, but opposing loan forgiveness doesn't necessarily mean they'll think IBR expansion is too far.
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Jun 30, 2023 18:47
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That's pretty obviously what they meant, I doubt they were simply wondering whether any lawyers are still capable of filing paperwork with a court.
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Jun 30, 2023 19:12
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i say swears online posted:i think the reasoning was because of using the covid law, so if biden uses the heavy hammer of the executive i think it'd be kosher. i just wouldn't expect him to Then heighten the contradictions. At the very least tie it up in courts like the GOP is always willing and able to do.
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Jun 30, 2023 19:15
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Tying it up in courts doesn't help if they're not also going to extend the payment pause.
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Jun 30, 2023 21:20
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https://twitter.com/mstratford/status/1674870341636612098?s=61&t=fWsm-upldseXptBaVlet9Q I have no idea what this means
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Jun 30, 2023 21:22
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Happy Noodle Boy posted:https://twitter.com/mstratford/status/1674870341636612098?s=61&t=fWsm-upldseXptBaVlet9Q Plan B. It might require more legal wrangling to justify, but it could work. Until the next 6-3 decision from our sovereign overlords, that is.
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Jun 30, 2023 21:24
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OAquinas posted:Plan B. It looks like there's a bunch of poo poo about having to form a committee, get public feedback, and then develop the final plan (which is probably why Biden wasn't able to just say "gently caress it, exact same amount of debt forgiveness but through the HEA", as that would provide evidence that public feedback wasn't utilized).
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Jun 30, 2023 21:39
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Isn’t this literally what Bernie said d to do all the dens shouted as our in the sky impossible?
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Jun 30, 2023 21:39
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Dr. VooDoo posted:Isn’t this literally what Bernie said d to do all the dens shouted as our in the sky impossible? I think Warren was the one who was talking about going this route. It will be much more of a pain in the rear end, though.
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Jun 30, 2023 21:45
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in all honestly i don't see how this doesn't get the same "whoa dude that's way too much money to spend without the input of congress" today's 6-3 decision got
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Jun 30, 2023 21:49
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Happy Noodle Boy posted:https://twitter.com/mstratford/status/1674870341636612098?s=61&t=fWsm-upldseXptBaVlet9Q There's more than one law that allows the executive branch some authority to modify or forgive student loans. The executive order that was struck down today was technically based on the authority granted by only one of those laws. So now Biden is doing another executive order to forgive student debt, based on another one of those laws. Practically speaking, it's just a do-over, with little expectation that anything will change. The same entities that sued to block the one before are going to sue again to block this one, the courts are going to issue an injunction just like they did on the first one, and it's inevitably going to make its way up to the Supreme Court who will almost certainly overrule this new one on exactly the same grounds they used to overrule the last one. The only real difference is that this one is a more annoying and time-consuming process with more hoops to jump through.
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Jun 30, 2023 21:51
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So instead of a pause, it’s a forbearance, except that in reality you just don’t pay and hope no one ever comes back and requires a retroactive credit impact. God drat, this country…
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Jun 30, 2023 21:55
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FilthyImp posted:If the opposition can just throw poo poo against the wall until it sticks, the Executive should, too. That’s what I think too. gently caress em forgive it again with a different justification. That and make it happen before they can rule in it next time. They have a problem with it again. Do it loving again.
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Jun 30, 2023 22:10
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Craig K posted:in all honestly i don't see how this doesn't get the same "whoa dude that's way too much money to spend without the input of congress" today's 6-3 decision got If they cared about that they would have passed a forgiveness law in the first place when they controlled congress. It's a political move at this point, show the people that Biden is trying everything he still can and the court is stopping them.
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Jun 30, 2023 22:22
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Main Paineframe posted:There's more than one law that allows the executive branch some authority to modify or forgive student loans. The executive order that was struck down today was technically based on the authority granted by only one of those laws. So now Biden is doing another executive order to forgive student debt, based on another one of those laws. Yeah this was my initial concern with the post I made most recently about someone suing this and gumming it all up. I know extremely little about politics or law but it just seems like standing doesn’t really matter and if you dislike something enough, you can take advantage of a 6-3 court and sue enough times until someone gives you an audience before them?
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Jun 30, 2023 22:26
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buglord posted:Yeah this was my initial concern with the post I made most recently about someone suing this and gumming it all up. I know extremely little about politics or law but it just seems like standing doesn’t really matter and if you dislike something enough, you can take advantage of a 6-3 court and sue enough times until someone gives you an audience before them? I mean they just ruled in favor of a lady who complete lied about being made up having to make a gay website and didn’t want to, know it was a fake story, so yeah basically they’ll shop out a lawsuit to some chud judge to get it kicked up to the SCOTUS so the judges owned by conservative billionaires will rule whatever they want
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Jun 30, 2023 22:30
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Here's something I don't really understand re: PSLF. I'm currently in the IBR plan and only about 1 year away from being able to apply for forgiveness. It looks like my payment will likely drop a fair amount because of the new calculation rules but it could go lower if I switch to REPAYE. I'm seeing it in some places that the REPAYE plan payments will count toward PSLF but others that say it won't? I would like to get a smaller monthly payment to grind out this last year but I don't want to jeopardize how close I am to finishing, especially since my ticket comes due the literal last month of the Biden admin and don't want some Republican loving with my forgiveness.
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Jun 30, 2023 22:48
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Zoph posted:Here's something I don't really understand re: PSLF. I'm currently in the IBR plan and only about 1 year away from being able to apply for forgiveness. It looks like my payment will likely drop a fair amount because of the new calculation rules but it could go lower if I switch to REPAYE. I'm seeing it in some places that the REPAYE plan payments will count toward PSLF but others that say it won't? I would like to get a smaller monthly payment to grind out this last year but I don't want to jeopardize how close I am to finishing, especially since my ticket comes due the literal last month of the Biden admin and don't want some Republican loving with my forgiveness. I was on REPAYE when I qualified for PSLF so it is definitely an eligible plan.
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Jun 30, 2023 23:33
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Zoph posted:Here's something I don't really understand re: PSLF. I'm currently in the IBR plan and only about 1 year away from being able to apply for forgiveness. It looks like my payment will likely drop a fair amount because of the new calculation rules but it could go lower if I switch to REPAYE. I'm seeing it in some places that the REPAYE plan payments will count toward PSLF but others that say it won't? I would like to get a smaller monthly payment to grind out this last year but I don't want to jeopardize how close I am to finishing, especially since my ticket comes due the literal last month of the Biden admin and don't want some Republican loving with my forgiveness. I had similar questions about repayment plans, as many of my federal loans were on old plans that previously did not qualify for PSLF but became eligible with the expanded forgiveness. I called the servicer (which I think was FedLoan? I'm not sure at this point, I've blocked out as many of those memories as I can) and they were actually really helpful in figuring out how to get the previous payments applied directly and I got forgiveness way sooner that I originally expected. If I had been making payments during the pandemic I likely would've gotten a refund.
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Jun 30, 2023 23:45
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Is there any chance of the pause being extended again?
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Jul 1, 2023 00:04
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pencilhands posted:Is there any chance of the pause being extended again? Biden signed legislation last month that specifically made it illegal to extend the pause again so unless Republicans agree to pass another law restoring that power, there is no chance. That's why his "on-ramp" to repayment is very explicitly not another pause.
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Jul 1, 2023 00:15
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VitalSigns posted:Biden signed legislation last month that specifically made it illegal to extend the pause again so unless Republicans agree to pass another law restoring that power, there is no chance. drat. Today sucks 
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Jul 1, 2023 00:20
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Phone posting so sorry for the lack of formatting https://www.whitehouse.gov/briefing...loan-borrowers/ “Forgive loan balances after 10 years of payments, instead of 20 years, for borrowers with original loan balances of $12,000 or less. The Department estimates that this reform will allow nearly all community college borrowers to be debt-free within 10 years” So does this mean, no matter how low I bring down my balance (15k currently), I’ll never get my loans automatically forgiven based on time because they were above 12k at some point? My first federal loan was dispensed in 2014, last in 2017, so I’m curious what it all means, or if I’m being too hopeful here.
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Jul 1, 2023 02:27
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The Republican student loan counterproposal does have a provision that would selfishly benefit me more than the Biden plan: https://www.nbcnews.com/politics/congress/house-republicans-introduce-student-loan-debt-plan-rcna89554quote:The Federal Assistance to Initiate Repayment Act, led by Republicans on the House Education and Workforce Committee, would provide “targeted” student loan relief for borrowers who “already paid back more than they originally owed taxpayers in principal and interest," streamline several existing income-driven repayment plans into one system and give borrowers in default another chance to rehabilitate their loans. I don't think this will pass either (and I don't think it's in good faith), but the idea of converting interest to principal payments seems like it might be a basis for a compromise.
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Jul 1, 2023 02:36
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https://www.cnbc.com/2023/07/31/how-to-apply-for-bidens-new-save-student-loan-repayment-plan.html SAVE application is up for testing. https://studentaid.gov/idr/
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Jul 31, 2023 17:20
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Posting a quick question here in case anyone has any prior experience or insight. For PSLF re-certification, is there a firm limit on how frequently you have to re-certify your employment? I ask because I originally applied in late October '22 and had my application approved. The student loans website recommends re-certifying annually (i.e. October '23 in my case) however I will actually meet the full 120 payments in November or December '23. Basically, just wondering if there's any problem with waiting until November/December to re-certify instead of doing so in October. I need to call Mohela to confirm for sure, just asking here out of curiosity.
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Aug 3, 2023 00:43
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The Illusive Man posted:Posting a quick question here in case anyone has any prior experience or insight. You can submit as frequently or infrequently as you'd like. There are no requirements to certify, it'll just make final approval faster if you periodically certify.
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Aug 3, 2023 01:05
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Trying to wrap my head around the new interest subsidization under SAVE:quote:the proposed rule would fully cover the borrower’s unpaid monthly interest, so that – unlike with current income-driven repayment plans – a borrower’s loan balance will not grow so long as they are making their required monthly payments So, before the payment pause, my required payment was $400 a month on autopay, and then I was throwing another $100 or so each paycheck to cover the accruing interest for the month so that the $400 would always go to the principal. Does this new rule mean that if I make the monthly required payment (whatever that will be under SAVE's 5% discretionary income limit; I don't know yet), interest won't accrue? That seems too generous to be right.
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Aug 3, 2023 02:04
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Now there is a lawsuit to stop the implementation of the new income driven plan, courtesy of the ghouls at the Cato Institute. The plan is on much more solid legal ground than the forgiveness was, correct? Edit: I misunderstood the article, the thing being challenged was the forgiveness they gave certain people by counting missed payments as payments. I'm not sure what that means for the rest of the plan. zimbomonkey fucked around with this message at 10:03 on Aug 5, 2023 |
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Aug 5, 2023 09:54
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buglord posted:Phone posting so sorry for the lack of formatting My read is that they would be automatically forgiven after 20 years instead of 10.
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Aug 5, 2023 10:05
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Are the adjustments to the discretionary income calculations going to be applied to the existing plans beyond REPAYE and SAVE? I can't really jump over to REPAYE because of my spouse income, it seems, and MOHELA is showing that my monthly payment IBR amount from way back in 2020 is coming due. Are they just slow getting the figures updated, or should I expect to pay the same amount soon?
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Aug 5, 2023 16:43
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Zoph posted:Are the adjustments to the discretionary income calculations going to be applied to the existing plans beyond REPAYE and SAVE? I can't really jump over to REPAYE because of my spouse income, it seems, and MOHELA is showing that my monthly payment IBR amount from way back in 2020 is coming due. Are they just slow getting the figures updated, or should I expect to pay the same amount soon? The 5% discretionary doesn't happen until next yeae sometime so even if you get on a SAVE plan it will be 10% discretionary for awhile. Not sure what you mean by make too much for repaye though? Worst case scenario on repaye is you pay your normal loan terms but there's no income limit. They just need to be direct loans not in default; perhaps yours are too old for it? If so you can consolidate into a new loan that does qualify. Apparently all repaye plans will be automatically turned to save plans too.
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Aug 5, 2023 19:14
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I'm talking about the change in how it's calculated, i.e., raised to 225% of federal poverty guidelines. I should call them up, but my understanding is that REPAYE calculates off of both your income and your spouse's, regardless of tax filing status, while my IBR plan calculates off mine alone. We have been filing separately for the last couple years to keep the monthly payment down until I complete PSLF at the end of next year.
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Aug 5, 2023 19:35
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Zoph posted:I'm talking about the change in how it's calculated, i.e., raised to 225% of federal poverty guidelines. I'm in the same boat as you and I took a look at the calculator. For us IBR is lower than REPAYE, but SAVE would be lower than IBR, but won't be available until July 24 so there is no reason to recertify REPAYE. IBR and SAVE don't count spouse income if you MFS, but REPAYE does.
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Aug 6, 2023 07:59
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Oh lookie there: https://www.career.org/uploads/7/8/1/1/78110552/order_granting_appellant%E2%80%99s_opposed_motion_for_injunction_pending_appeal8-7-23.pdf
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Aug 8, 2023 18:09
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Just had a bit over $12k in old consolidated loans wiped. Dark Brandon taking care of his people.
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Aug 16, 2023 21:33
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Guess I’m just gonna pay 600/mo for the foreseeable future because I wanted to study medicine and help people. Cool.
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Aug 16, 2023 23:27
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Are there any other benefits to the SAVE plan, if lower monthy payments aren't one of them? I'm on a graduated repayment plan and currently my monthly payments (once they restart in Oct) are $138. Avg interest rate is 3.9% across 15.3k. When I use the loan estimator on StudentAid.gov, SAVE is giving me payment projections of $268-358?
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Aug 29, 2023 04:56
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If your payments don't cover the interest then unpaid interest is forgiven under the SAVE plan instead of being added to your balance, but with a loan balance of only 15k that's probably not going to apply to you.
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Aug 29, 2023 13:24
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