Posted on 11/25/2022 12:32:56 PM PST by simpson96
President Joe Biden’s one-time federal student loan debt relief program, which would forgive up to $20,000 in loans for federal borrowers, remains on hold after a federal district judge in Texas declared the program unconstitutional earlier this month. The 8th Circuit Court of Appeals in St. Louis issued a nationwide injunction barring the program days later. The whiplash leaves more than 26 million people who applied for relief —16 million of whom were already approved — caught in limbo about the future of their federal student loans. Those who were approved received notice from the Department of Education that their debt will be discharged “if and when we prevail in court." But no new applications are being accepted. Meanwhile, Biden announced on Tuesday that the emergency pause on student loan payments put in place during the pandemic would be extended to "no later than June 30, 2023" so borrowers would not resume payments while waiting for a decision from the Supreme Court on the matter.
I spoke to borrowers around the country, ages 24 to 61, about their financial plans now. Some people who had expected Biden’s program to forgive the remaining balance of their loan were frustrated that critical expenses they had been putting off — such as medical needs, saving for a home, retirement — will continue to be delayed. Some are looking for ways to not pay. Others are resigned to resuming payments until their debt is forgiven under another income-driven plan that cancels the remaining balance on a loan if it isn’t fully repaid at the end of the repayment period, such as Public Service Loan Forgiveness.
(Excerpt) Read more at buzzfeednews.com ...
Good you shouldn’t retire if you can’t afford it.
You can't retire bdcause of your student loans? Exactly how is that MY problem you entitled little pricks! Pay back what you owe!! The rest of us did and we're retiring so F.U.!!!
The “universties” that harvested dumb 18 year-olds for their student loan dollars are the villains of the story.
The solution is to take the money out of the endowments of the “universities” that exploited them.
That would be very fitting.
Just goes to show 50% of Americans have below average IQ’s. Not a single one of them belong in college.
The pervasive mentality in scoiety thses days that ALL kids should go to college is not only unsustainable, it is foolish.
Student loans should only be offered for programs of study that are likely to put the student in a position to repay the loan.
Biden is such a despicalbe person. He KNEW that the courts would block it, he just wanted the votes.
This is the same “ethical” President who showered with his teenage daughter and scared her to death.
You're spot-on 1,000%. I worked three jobs after graduating (one full time, one consulting, one part time) to pay off my student loans in 2 years after I graduated.
Was it easy? HELL NO. Was it worth it? Absolutely. What a character builder it was for me. Hard work, pride in a job well done and not owing anyone any money was the biggest ego booster I could ever have. I hate these kids these days. Entitlement mentality out the wazoo. What I wouldn't give to bitch slap a few into reality ...
I'd punch every single one of those stupid mf'ers right in their mouths. And they'd deserve it.
Exactly, and hence all the ‘studies’ majors that have the rigor of reading a coloring book.
FU. Pay your bills. I payed my college loans back in the early eighties. Do I get it all back with interest?
Yet the vast majority of Americans, many of whom have never been to college, dutifully pay those down with no real complaint. For if they didn't, their cars and their homes would be unceremoniously repossessed.
These deadbeats need to shut up and pay down their loans like everybody else.
Gosh, I basically retired and went PRN at my job and work Saturdays and Sundays only. I received an email from my supervisor asking if I could work Fridays again because they really needed me and my experience. How much am I worth now??? Thank God I owe nothing except my monthly utility bills and food.
Taking a pic of a note on the back of semi-transparent deposit slip? Not smart.
Not ONE of these folks understood nor understand now they were suckerfished into voting for Biden and other D’s believing that student loan relief had the slightest chance of passing Constitutional scrutiny. This was a very cruel, cynical move by Biden & co to snag votes from the naive. Unfortunately, their very expensive educations did not inform them of that particular dynamic.
My wife and I both took out student loans....we started paying them back the year we graduated....two years debt paid!!!!
Student loans should only be offered for programs of study that are likely to put the student in a position to repay the loan.
This. If you want to study French impressionists do it on your own dime and not mine.
Fedzilla has no right to be in the student loan business anyways. Like everything they get involved in, it only makes college education more expensive.
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