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Happy Noodle Boy
Jul 3, 2002


https://twitter.com/mstratford/status/1575529368302292992?s=21&t=mnrMHgPkf4BIeIMzzVNw4A

Uh I think this affects me.

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Happy Noodle Boy
Jul 3, 2002


I don’t have access to the full article but there’s enough in the first few paragraphs to make it look like I’m out of any relief now lol

quote:

The Education Department will no longer allow borrowers with privately held federal student loans to receive loan forgiveness under the administration’s plan, according to guidance updated on the agency’s website Thursday. The administration had previously said that those debt-holders would have a path to receive the administration's relief of $10,000 or $20,000 per borrower.

Thursday's policy reversal comes as the Biden administration this week faces its first major legal challenges to the program, which Republicans have railed against as an illegal use of executive power that is too costly for taxpayers.

The federal student loans held by private entities — through a program known as the Federal Family Education Loan program — is a relatively small subset of outstanding federal student loans. It accounts for just several million of the 45 million Americans who owe federal student loans.

The one non private loans I had and was hoping to get 2-3k (depending on how much I could get refunded for payments through the pandemic) is a FFELP loan.

Happy Noodle Boy
Jul 3, 2002


https://twitter.com/athertonkd/status/1575547491847585792?s=21&t=EhNnbaqXI5QYoZQG2JOrvA

Lol god drat it I went through the whole direct loan consolidation process on my FFEL loan back in July but didn’t finalize it because I through well that’s getting taken care of with the loan relief so why go through the trouble?

Happy Noodle Boy
Jul 3, 2002


Do I need to wait for my direct consolidation to be completed prior to finishing PSFL application or can I jump ahead on it and get my employer to sign poo poo now?

Happy Noodle Boy
Jul 3, 2002


Application appears to have gone live:

https://studentaid.gov/debt-relief/application

technically a beta for the application itself but submissions will be valid.

Happy Noodle Boy
Jul 3, 2002


Got my PSLF application signed and faxed. No idea if there’s a way to check status later but I’m hoping this is fine while my consolidation finalizes.

Not really hoping for anything at this point given how annoying this process is but I’ll take what I can get.

Happy Noodle Boy
Jul 3, 2002


Space Racist posted:

Finally got my confirmation from MOHELA that my consolidation loan was disbursed, just in time to finish my PSLF application next week.

Just for my own paranoia, do you all think it's a better idea to submit the application via certified mail, or via fax? I've used faxes in the past for IBR application/renewal, but even with a confirmation that it went through I wonder how well it's being received on the other end. (why can't they just accept these documents electronically?!)

When did you apply for the consolidation?

Happy Noodle Boy
Jul 3, 2002


PSLF update: My consolidation application (Oct 12) finally got to Navient and they're now (Oct 27) working on it. The actual PSFL was submitted last quick so this is all going to be a hot mess of poo poo being finalized in a few months assuming I do get the loan forgiven. Feels silly as hell to be going through this poo poo for what's now less than $800 but if this is the hoops I need to jump for it, so be it.

Happy Noodle Boy
Jul 3, 2002


Of all the poo poo happening today, I somehow missed the news. What a loving poo poo show.

Make the PPP loans illegal too then, fucker.

Happy Noodle Boy
Jul 3, 2002


Good timing too as my consolidation was finally approved today :shepicide:

Happy Noodle Boy
Jul 3, 2002


While I think there's some merit about discussing why the Dems won't go the legislative route for this (hint: they're bad) I think it misses the crux of the issue: it doesn't matter which way they go about it. The GOP will sue regardless and some judge somewhere will find merit and put an injunction and stop it for months if not outright. Each side is playing with a completely separate of rules and for the republicans it's simply "sue until a judge gives us what we want".

Happy Noodle Boy
Jul 3, 2002


Maybe something? Probably nothing?

https://twitter.com/kylegriffin1/status/1674792508231159818?s=61&t=fWsm-upldseXptBaVlet9Q

Happy Noodle Boy
Jul 3, 2002


https://twitter.com/mstratford/status/1674870341636612098?s=61&t=fWsm-upldseXptBaVlet9Q

I have no idea what this means

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Happy Noodle Boy
Jul 3, 2002


So how exactly does the SAVE plan zeroing out the payment work in terms of interest? My brother applied and qualified for a payment of $0 but also got a notice about the interest. The interest benefit seems to work as long as you make a monthly payment but if the scheduled payment is nothing then uh….. what happens?

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