Author Topic: Has anyone applied for the student loan forgivness?  (Read 5950 times)

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Logan7

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Re: Has anyone applied for the student loan forgivness?
« Reply #75 on: July 02, 2023, 06:13:34 PM »
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Admission slots that were earmarked for minorities will now be filled by white kids with no money.

Yes, that's right Toad - Whites and Asians who will also need loans to get through college.

But the difference is the rate they will graduate is far higher than the black students whose place they are going to be taking, giving them a significantly higher income afterward that will eventually more than pay off those loans.

The crisis with affirmative action was the 60% failure rate of black college students to even finish four years of college. It was a lie that basically said: Let's make up for all the crappy inner-city high schools run by the Teacher's Union in cities with Democrat Mayors, by simply guaranteeing college admissions.

That 60% now has huge college-level debts and only their high school diplomas to work with in the job market - which really doesn't give a damn what color their skin is. This new ruling will at least spare future generations who are not prepared for college. It might even make those parents pay attention to their useless high schools.

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Re: Has anyone applied for the student loan forgivness?
« Reply #76 on: July 04, 2023, 08:09:19 PM »
Here's the email DOE sent out to anyone that applied.

Quote
US Department of Education

July 1, 2023

 
The Biden-Harris Administration won’t stop fighting for borrowers

Yesterday, the Supreme Court issued a decision invalidating the Biden-Harris Administration’s student debt relief plan following a legal challenge by Republican state officials.

We believe the Supreme Court got it wrong.

President Biden and I recognize how critical student debt relief would have been for tens of millions of Americans and their families, and we understand many borrowers may be wondering how yesterday’s decision affects them.

This decision from the Supreme Court means that the Administration cannot move forward with the one-time student debt relief plan announced last year. The Department had already approved applications for more than 16 million borrowers, and if you are one of those borrowers, you should know that we are unable to provide you with relief under this program due to the Court’s ruling.

While we disagree with yesterday’s ruling, our Administration will not stop fighting to provide relief to borrowers who need it most, and we will use every tool at our disposal to do so.

Yesterday, our Administration announced three actions to do just that:

    First, we are taking action aimed at opening an alternative path to debt relief for working and middle-class borrowers. We started the process to provide relief to as many people as we can, as fast as we can, through rulemaking. Under the law, this path will take time, but we are determined to keep fighting for borrowers and we will keep you updated in the months ahead.
    Second, the Administration is releasing the details of the most affordable repayment plan ever created, called the Saving on a Valuable Education (SAVE) Plan. Later this summer, borrowers will start saving money under the new plan, which will cut monthly payments to $0 for millions of borrowers making $32,800 or less ($67,500 for a family of four) and save all other borrowers at least $1,000 per year. Additionally, it will stop runaway interest that leaves borrowers owing more than their initial loan.
    Third, to help borrowers back into repayment, we are creating a temporary “on-ramp” to repayment for one year for those struggling to make payments. For borrowers who still cannot make their payments, we are creating a temporary “on-ramp” period that will help borrowers avoid the harshest consequences of missed, partial, or late payments. During that time, missed, partial, or late payments will not lead to negative credit reporting, default, or loans being sent to collection agencies. Borrowers who can make payments should do so, as payments will be due and interest will accrue during this transition period. Additionally, missed payments will not count toward loan forgiveness under any of the income-driven repayment plans or Public Service Loan Forgiveness.

I encourage borrowers to visit StudentAid.gov/debtrelief to learn more about these actions and to identify a repayment plan that works for them as they prepare for monthly payments due in October 2023.

In addition to these actions, our Administration will continue our important work of making college more affordable and accessible for more American families and making the student loan system more manageable for borrowers. Under President Biden’s leadership, we have taken unprecedented steps toward this goal, including by increasing Pell Grants by $900, which is the largest increase in a decade; fixing a broken Public Service Loan Forgiveness program and discharging $42 billion in debt so public service workers can get the loan relief they were promised; and holding colleges accountable when they take advantage of students and borrowers.

We will not stop fighting to make sure that student debt is not a barrier for Americans to access college or economic opportunity. We will continue to put the needs of students and borrowers first, help borrowers access the support and resources they need, and make the promise of college a reality for more American families.

We’ll keep fighting for you!

Sincerely,

Miguel A. Cardona
Secretary of Education
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1mlt

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Re: Has anyone applied for the student loan forgivness?
« Reply #77 on: July 05, 2023, 05:42:50 PM »
Nothing for me to apply to get. Tuition was paid as I went. I finished with no debt. Why can't the deadbeats do the same?
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Logan7

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Re: Has anyone applied for the student loan forgivness?
« Reply #78 on: July 06, 2023, 01:05:11 PM »
To be honest, my father wrote the tuition checks for my college - but I had to contribute each summer by working and saving.

Spent one summer on the campus renovation crew, spackling and painting college dorms (indoors on the August heat without AC).

My father could have paid for it all but he believed you get more out when you put something in. And I agree.

Without my father, I would have been seriously in debt at a young age and taken many lean years to pay it off.

In the '80s even the most expensive private colleges were only 1/5 [!!!] the cost they are today, 40 years later. And THAT incredible inflation throughout academia is due ENTIRELY the ease today of obtaining student loans in any amount from banks.



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Re: Has anyone applied for the student loan forgivness?
« Reply #79 on: July 06, 2023, 07:59:26 PM »
Nothing for me to apply to get. Tuition was paid as I went. I finished with no debt. Why can't the deadbeats do the same?

Gramps, tuition costs a lot more that $25 a credit hour now a days.  :lol:
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Danjal

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Re: Has anyone applied for the student loan forgivness?
« Reply #80 on: July 07, 2023, 10:12:07 AM »
Nothing for me to apply to get. Tuition was paid as I went. I finished with no debt. Why can't the deadbeats do the same?

Kinda hard to be a kid that never had a job, and work full time while going to school full time. You get burnt out or fail fast. Kids now need to work an entire year to pay for a year of college. Back in the 60-70's kids could work part time just during the summer and pay for an entire year of classes. Those days are long since since gone.
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Re: Has anyone applied for the student loan forgivness?
« Reply #81 on: November 07, 2024, 07:56:47 PM »
I guess it's safe to say Biden/Harris isn't going to come clutch on the student loan forgiveness.  :lol:
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LESchwartz

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Re: Has anyone applied for the student loan forgivness?
« Reply #82 on: November 07, 2024, 08:19:04 PM »
Kinda hard to be a kid that never had a job, and work full time while going to school full time. You get burnt out or fail fast. Kids now need to work an entire year to pay for a year of college. Back in the 60-70's kids could work part time just during the summer and pay for an entire year of classes. Those days are long since since gone.

I'm told that the number of college administrators has skyrocketed since back then . . . probably why tuition has gone up so much.

When I went to school, vocational school was FREE.  After that, my employers paid for tuition for me to attend college classes at night (nice perk).

When my kids went to college, they lived at home . . . I sure wasn't gonna pay for them to party live on campus.

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Danjal

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Re: Has anyone applied for the student loan forgivness?
« Reply #83 on: November 08, 2024, 05:43:45 PM »
Kinda hard to be a kid that never had a job, and work full time while going to school full time. You get burnt out or fail fast. Kids now need to work an entire year to pay for a year of college. Back in the 60-70's kids could work part time just during the summer and pay for an entire year of classes. Those days are long since since gone.

I'm told that the number of college administrators has skyrocketed since back then . . . probably why tuition has gone up so much.

When I went to school, vocational school was FREE.  After that, my employers paid for tuition for me to attend college classes at night (nice perk).

When my kids went to college, they lived at home . . . I sure wasn't gonna pay for them to party live on campus.

Larry

Its one of the many reasons, along with govt subsidies driving up costs. The government gives us $5000 a year for costs.. the price goes up $5000 a year to hit economic equilibrium. Kinda how giving $25,000 for first time home buyers ends up driving up the costs of home by the same amount or mandating everyone is eligible for car loans ends up raising the costs of cars. Other issues like jobs requiring any degree for simple jobs that used to be high school educated careers is also doing it.
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