Author Topic: Has anyone applied for the student loan forgivness?  (Read 5952 times)

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cvasqu03

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Re: Has anyone applied for the student loan forgivness?
« Reply #30 on: October 14, 2022, 01:13:50 AM »
My wife wants to, but I told her I'd really rather she didn't.

I don't believe in it for others and would be a hypocrite to take advantage of it myself.

I don't really think it makes you a hypocrite.  If you're lobbying against it and it still passes, your taxes are going to be paying for it so you're on the hook for it.  At that point you're entitled to it as much as anyone.  If it gets challenged in court (which I'm hoping) it should go away really quick since there is literally no constitutional argument to support it.  The only real problem with anyone suing is that nobody seems to have standing to sue, though I've read a couple of foundations have actually found some people that "might" have the standing issue dealt with due to state taxes.  I'm still not sure if I'll apply for it or not.  I'm still hoping it all just collapses.

That being said, I AM applying for the extended forgiveness terms they're offering through the end of October.  As some of you may know, there is already a loan forgiveness program that forgives what is left of your loan if you make payments for ten years while employed for the Federal government.  It's basically counting government service similar to the way military service is.  Well, until October, they'll be accepting applications for people that worked for the federal government as contractors as well.  I was a contractor for almost six years working in a military installation and during that time I never missed a student loan payment and (aside from a forbearance while unemployed) I continued that once I got hired in a GS position.  Now I've been an actual GS employee for three years.  If I get them to count my contracting work, that would put me only about a year away from getting the rest of my loan forgiven.   

It's this type of thing that always made me very opposed to the idea of blanket loan forgiveness.  Student loan recipients are actually getting a better deal than the car manufacturers did during Obama's commie bailout, and that's before Biden's illegal loan forgiveness scheme.  Any time you're unemployed you can get a forbearance and the terms are always reasonable.  If you want, you can serve your country in a GS job for ten years and get the rest forgiven.  It's actually already a pretty good deal and always has been. 
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Onepoint

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Re: Has anyone applied for the student loan forgivness?
« Reply #31 on: October 14, 2022, 07:22:17 AM »
This worry about tax money is a false perception, every bit of discretionary spending is now paid with made up money, and as such dilutes and devalues the dollar with every penny we spend.

But at this point there is no turning back nor stopping what's coming eventually, the principle of refusing govt money because it comes from taxes no longer applies, so get what you can while you can and get rid of as much debt as possible, because even if you don't take it, its not going back to the general fund to offset spending once its allocated like real accounting does.  When it comes time govt isn't going to take the high road when they want to stabilize the dollar and the banks, they will take your 401 K and cash investments and not lose a minute of sleep over it.
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Rocketvapor

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Re: Has anyone applied for the student loan forgivness?
« Reply #32 on: October 14, 2022, 07:49:08 AM »
I'm spending next year's COLA now before it loses value because of inflation :)
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Toad

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Re: Has anyone applied for the student loan forgivness?
« Reply #33 on: October 17, 2022, 08:54:44 AM »
Here's the link for the form.

https://studentaid.gov/debt-relief/application?utm_content=&utm_medium=email&utm_name=&utm_source=govdelivery&utm_term=

It's in Beta. Use chrome. The app will be available later this month. No need to reapply if you did the Beta application. Name, SS#, birth date, phone number and email.
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Scratch

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Re: Has anyone applied for the student loan forgivness?
« Reply #34 on: October 17, 2022, 03:08:11 PM »
Done. Took like 5 minutes for both of my kids, and that was looking for their socials too.

Fingers crossed…

Toad

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Re: Has anyone applied for the student loan forgivness?
« Reply #35 on: October 17, 2022, 04:25:01 PM »
I got a confirmation email right away.
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Toad

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Re: Has anyone applied for the student loan forgivness?
« Reply #36 on: October 20, 2022, 03:46:46 PM »
The final/release form pushed this morning.

https://studentaid.gov/debt-relief/application?utm_content=&utm_medium=email&utm_name=&utm_source=govdelivery&utm_term=

If you did the Beta form, no need to reapply.
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Toad

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Re: Has anyone applied for the student loan forgivness?
« Reply #37 on: October 22, 2022, 07:23:40 PM »
There are only a few days left to apply for PLSF forgiveness.

Here is the form.

https://studentaid.gov/sites/default/files/public-service-application-for-forgiveness.pdf

You will have to reprint and fill out page 2 for every public service job. You will need the employers' Federal Employers Identification Number (Tax ID on your W-2s).

Snail mail or fax in the forms by October 31.

I don't trust government fax machines. No one is at the office to get the faxes. Certified mail is the better option. Around $4.25 to send it in, certified with tracking.
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Scratch

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Re: Has anyone applied for the student loan forgivness?
« Reply #38 on: October 22, 2022, 08:03:57 PM »
Wait… is that form for people who already paid back their loans?  That’s different than the first one right?  The first one is for people who haven’t paid them back yet correct?

I already did the beta form so I don’t need to do this one from your last post right?

Filroy77

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Re: Has anyone applied for the student loan forgivness?
« Reply #39 on: October 22, 2022, 08:19:31 PM »
A federal appeals court on Friday temporarily halted Biden’s signature student loan forgiveness program, which would forgive up to $20,000 in student loan debt for tens of millions of borrowers.

https://www.forbes.com/sites/adamminsky/2022/10/22/4-crucial-takeaways-after-court-halts-student-loan-forgiveness/amp/
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Toad

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Re: Has anyone applied for the student loan forgivness?
« Reply #40 on: October 22, 2022, 09:43:18 PM »
The thing with injunctions are they are only good for 90 days. So they put a 90 halt on payouts that aren't happening, and just extended the program by 90 days. In the mean time folks are still getting paid to stand around while the 90 days clicks off the clock. Double edged sword. District Court of Missouri want's it to stop. They just gave DoED 90 extra days to figure out the applications.
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Toad

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Re: Has anyone applied for the student loan forgivness?
« Reply #41 on: October 22, 2022, 10:02:23 PM »
Wait… is that form for people who already paid back their loans?  That’s different than the first one right?  The first one is for people who haven’t paid them back yet correct?

I already did the beta form so I don’t need to do this one from your last post right?

There's two out there.

If you did the "cell phone app" form. You're good. You are done.

The second plan (PLSF) out there is for Civil Servants. If you are a CS, there is another plan that you can apply for forgiveness.

The Biden/Harris plan is sketchy at giving details for reimbursal of those that paid off. Months ago, the Biden plan followed and extended the Trump COVID plan to stop student loan payment requirements. The way it was originally laid out was, if you had student loan debt from March 13, 2020 to December 31, 2022, you are eligible for forgiveness, and the possibility of reimbursal for any loan payments made during that time frame. (This also included monies for students currently enrolled [in good standing, etc., etc.]. Now finding any real clarification on that reimbursal information is nearly impossible to find. So the idea is, "just fill out the form" and let the DoED make the decision.

The gist is, there is a magical block of time. If you have loan debt, that you paid on, and it is a loan/grant on the list, during that time block, you can get money. Those that have paid off loans before 3/14/2020, or get a loan after 12/31/2022, you're out of luck. 
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Filroy77

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Re: Has anyone applied for the student loan forgivness?
« Reply #42 on: November 03, 2022, 01:19:26 PM »
In extraordinary move, federal judge moves to fast track ruling on Biden student debt forgiveness

https://justthenews.com/government/white-house/extraordinary-move-federal-judge-moves-fast-track-ruling-biden-student-debt

Dershowitz says this is unusual but not unheard of.
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Toad

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Re: Has anyone applied for the student loan forgivness?
« Reply #43 on: November 03, 2022, 02:10:12 PM »
Quote
"Our lawsuit intends to block the Biden administration's student loan bailout, which is an unprecedented executive power grab. The administration's action does nothing to address the root cause of unaffordable tuition: greedy and bloated colleges that raise tuition far more than inflation year after year while sitting on $700 billion in endowments," Elaine Parker, president of Job Creators Network Foundation, said at the time.

"Colleges need to be held accountable for their outrageous tuition prices that fund high executive pay, an army of administrators who provide little-to-no value, and the construction of resort-style amenities. College endowments, not taxpayers, should be responsible for helping students drowning in debt," she added.

Parker said the Biden administration is "shifting the burden to taxpayers, including those who didn't go to college or paid their student loans back" and allowing colleges to "escape responsibility for their actions creating the student loan crisis."

No chit! :roll:
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Toad

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Re: Has anyone applied for the student loan forgivness?
« Reply #44 on: November 12, 2022, 11:15:02 AM »
Email from DoE.

Quote
US Department of Education

FOR IMMEDIATE RELEASE
Nov. 10, 2022
Contact: Press Office
(202) 401-1576 or press@ed.gov
Statement from Secretary of Education Miguel Cardona on District Court Ruling on the Biden-Harris Administration Student Debt Relief Program

U.S. Secretary of Education Miguel Cardona issued the following statement regarding today’s district court ruling on student debt relief :

"We believe strongly that the Biden-Harris Student Debt Relief Plan is lawful and necessary to give borrowers and working families breathing room as they recover from the pandemic and to ensure they succeed when repayment restarts.

"We are disappointed in the decision of the Texas court to block loan relief moving forward. Amidst efforts to block our debt relief program, we are not standing down. The Department of Justice has appealed today’s decision on our behalf, and we will continue to keep borrowers informed about our efforts to deliver targeted relief. 

"More than 26 million borrowers have provided the information needed to process their applications for relief and 16 million applications have been approved and sent to loan servicers to be discharged when allowed by the courts. 

"Separately, we remain committed to taking other actions to fix longstanding issues in the student loan forgiveness system and hold schools accountable for leaving students with mountains of debt and without the skills and preparation to find good jobs. 

"Despite this decision, we will never stop fighting for the millions of hardworking students and borrowers across the country."
The VA - Giving Veterans a second chance to die for their country since 1930.
"I hate to admit Toad is more right than wrong."--panoz77
When you are dead, you don't know you are dead. It is difficult only for the others. It is the same when you are stupid.