Student Loan Relief Discussion and Questions - 2022

The Something Awful Forums > Discussion > Debate & Discussion > Student Loan Relief Discussion and Questions - 2022

buglord: Jul 31, 2010; Cheating at a raffle? I sentence you to 1 year in jail! No! Two years! Three! Four! Five years! Ah! Ah! Ah! Ah!; Buglord

Youth Decay posted:

If the Republicans try and sue to stop the loan relief will the money just be in limbo until the court case gets resolved? Would we have to pay back the $10k? I'm assuming worst case scenario because of the 6-3 Supreme Court.

Yeah I�m here with this too. I�m cynically imaging a scenario where they torpedo it somehow or just hold it up in court forever and ever until the Supreme Court axes it, but I have no idea how the mechanisms here work.

I�m hesitant to celebrate my 15k being forgiven because they seeming get away with so much, but I�m also wondering if they would have sued already if they were gonna do it?

# ¿ Sep 1, 2022 17:37

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# ¿ May 20, 2024 23:43

buglord: Jul 31, 2010; Cheating at a raffle? I sentence you to 1 year in jail! No! Two years! Three! Four! Five years! Ah! Ah! Ah! Ah!; Buglord

I just got the email from DOE about that minutes ago.

Im not gonna breathe a sigh of relief until I get the email saying that my 15k is officially wiped, but man this feels good.

# ¿ Sep 29, 2022 16:49

buglord: Jul 31, 2010; Cheating at a raffle? I sentence you to 1 year in jail! No! Two years! Three! Four! Five years! Ah! Ah! Ah! Ah!; Buglord

Leon Trotsky 2012 posted:

No, lots of federal loans are still serviced by private institutions. These are a specific kind of loan called FFEL. They were issued pre-2010 and the federal government backed the loan, but the loan was issued by a private lender.

Obamacare ended them by making all student loans federally held from then on. If your loan is an FFEL, then it won't qualify. Just having a loan servicer doesn't mean it is an FFEL.

So just to clarify, me and my college buddies who got federal student loans through FAFSA and got different servicers like Nelnet, Navient, Great Lakes etc in 2012 onwards are fine?

# ¿ Sep 29, 2022 20:38

buglord: Jul 31, 2010; Cheating at a raffle? I sentence you to 1 year in jail! No! Two years! Three! Four! Five years! Ah! Ah! Ah! Ah!; Buglord

Thanks for being the steward of good info Leon. I have this thread bookmarked on the app and when I saw 25+ new posts in such a short period of time I was extremely :chanpop:

oh god what happened

# ¿ Sep 29, 2022 23:37

buglord: Jul 31, 2010; Cheating at a raffle? I sentence you to 1 year in jail! No! Two years! Three! Four! Five years! Ah! Ah! Ah! Ah!; Buglord

Oh geeze. The thing I was terrified of happening happened. Can they just sue this thing indefinitely or get it torn down by the Supreme Court or what?

e: also what happens to the people who already got their refunds for the payments they�ve made since 2020?

buglord fucked around with this message at 02:33 on Sep 30, 2022

# ¿ Sep 30, 2022 02:26

buglord: Jul 31, 2010; Cheating at a raffle? I sentence you to 1 year in jail! No! Two years! Three! Four! Five years! Ah! Ah! Ah! Ah!; Buglord

What are the two remaining cases? Is the 6 states one on the 17th?

# ¿ Oct 12, 2022 19:25

buglord: Jul 31, 2010; Cheating at a raffle? I sentence you to 1 year in jail! No! Two years! Three! Four! Five years! Ah! Ah! Ah! Ah!; Buglord

submitted mine!!!

# ¿ Oct 15, 2022 01:46

buglord: Jul 31, 2010; Cheating at a raffle? I sentence you to 1 year in jail! No! Two years! Three! Four! Five years! Ah! Ah! Ah! Ah!; Buglord

Hot dog, it is. Did that 6 state court case thing get thrown out?

# ¿ Oct 17, 2022 21:09

buglord: Jul 31, 2010; Cheating at a raffle? I sentence you to 1 year in jail! No! Two years! Three! Four! Five years! Ah! Ah! Ah! Ah!; Buglord

Thom12255 posted:

https://twitter.com/ZekeJMiller/status/1583247350503702528?t=T0cZPH-rpMf6HDp7-1U9Hg&s=19

On top of that:

SCOTUS denies request to block Biden's student loan forgiveness plan

https://www.axios.com/2022/10/20/scotus-biden-student-loan-forgiveness-tax-group

# ¿ Oct 21, 2022 01:37

buglord: Jul 31, 2010; Cheating at a raffle? I sentence you to 1 year in jail! No! Two years! Three! Four! Five years! Ah! Ah! Ah! Ah!; Buglord

There�s an updated megathread on Reddit explaining what the next steps are from the 8th circuit (and other cases in the pipeline) here https://www.reddit.com/r/StudentLoans/comments/ycfdwh/litigation_status_bidenharris_debt_relief_plan/

Looks like we shouldn�t hear anything until Tuesday? The government presents their case by EOD today, then the suers present theirs by tomorrow EOD, then Wednesday we should hear something?

If I�m summarizing this all correctly.

# ¿ Oct 24, 2022 19:12

buglord: Jul 31, 2010; Cheating at a raffle? I sentence you to 1 year in jail! No! Two years! Three! Four! Five years! Ah! Ah! Ah! Ah!; Buglord

Leon Trotsky 2012 posted:

Doesn't mean it is over.

But, it means there will be a month or two delay (if they win) and is definitely not a great sign.

Was reading that republicans taking the House means forgiveness can be harder, for a number of reasons. Is there any feasible way for a R led House to gum things up more?

Framboise posted:

Whether the 10-20k forgiveness happens or not, whatever. If the IDR thing coming next year trivializes or completely nullifies loan payments for 10 years and then it's gone, then that's what I'll do. God knows I don't make enough to be paying a whole lot under that plan.

What are the IDR changes that are coming? Wonder if I should switch up my repayment plan. Can�t seem to find it via google.

# ¿ Nov 14, 2022 21:39

buglord: Jul 31, 2010; Cheating at a raffle? I sentence you to 1 year in jail! No! Two years! Three! Four! Five years! Ah! Ah! Ah! Ah!; Buglord

Circutron posted:

Just to be clear, does this mean that interest being frozen and the payments being cut down hard depending on income is unaffected? That was one of the biggest surprise gets from this package.

Also if worst comes to worst and we have to pay this all back, is there a summary on what IDR changes are? I ignored that initially because I was so focused on the forgiveness cancelling my remaining 15k. Should I go onto Nelnet and change my repayment from graduated-repayment (increases over time) to IDR?

# ¿ Nov 22, 2022 00:19

buglord: Jul 31, 2010; Cheating at a raffle? I sentence you to 1 year in jail! No! Two years! Three! Four! Five years! Ah! Ah! Ah! Ah!; Buglord

Excellent. Must have missed that in the OP. good to know I can opt-in in June. Thank for the info as always Leon.

# ¿ Nov 22, 2022 00:27

buglord: Jul 31, 2010; Cheating at a raffle? I sentence you to 1 year in jail! No! Two years! Three! Four! Five years! Ah! Ah! Ah! Ah!; Buglord

What is the likelihood people start suing the new IDR changes now that the main forgiveness is dead?

# ¿ Jun 30, 2023 16:54

buglord: Jul 31, 2010; Cheating at a raffle? I sentence you to 1 year in jail! No! Two years! Three! Four! Five years! Ah! Ah! Ah! Ah!; Buglord

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.

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.

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?

# ¿ Jun 30, 2023 22:26

buglord: Jul 31, 2010; Cheating at a raffle? I sentence you to 1 year in jail! No! Two years! Three! Four! Five years! Ah! Ah! Ah! Ah!; Buglord

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.

# ¿ Jul 1, 2023 02:27

buglord: Jul 31, 2010; Cheating at a raffle? I sentence you to 1 year in jail! No! Two years! Three! Four! Five years! Ah! Ah! Ah! Ah!; Buglord

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?

# ¿ Aug 29, 2023 04:56

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# ¿ May 20, 2024 23:43

buglord: Jul 31, 2010; Cheating at a raffle? I sentence you to 1 year in jail! No! Two years! Three! Four! Five years! Ah! Ah! Ah! Ah!; Buglord

Liquid Chicken posted:

FREEDOM!!!!!!

Good job goon! I think that calls for a fancy dinner.

# ¿ Nov 21, 2023 01:24

The Something Awful Forums > Discussion > Debate & Discussion > Student Loan Relief Discussion and Questions - 2022