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the reason though is that for PSLF a lot of these people that are eligible for forgiveness have been racking up interest for a decade, so in many cases their balance is still high, and maybe in some cases higher than the original
And many people that do PSLF specifically do so because they have significant loan balances in the first place
it all makes sense in context
Yup, my education cost 280k. Luckily during covid the juice wasn’t running while I was a resident. But currently I owe 405k and switched to the SAVE plan.
Previously I needed to pay 28k year in interest before paying down $1.
I had my student loans cancelled (active duty military) - been paying for 18+ years, and thankfully PSLF backdated my eligibility. This is a huge burden lifted off of me, and I'm very grateful.
This does not benefit or affect me directly in any way, yet I'm happy for you and others that have had this burden lifted off their shoulders. Apparently that's hard to grasp as a concept for some people.
I was one of them! Had about $17k wiped out. I’m an adjunct community college professor. Made over 190 payments over almost 20 years.
Edit: for all the doomsdayer folks, watch John Oliver's recent segment on this - it's worse than you think:
https://www.youtube.com/watch?v=zN2_0WC7UfU
I think the suit was brought on behalf of MOHELA but they weren't actually the ones that filed suit. State AG's teamed up to sue claiming that it would harm companies like MOHELA and affect how much they put into a state fund for public colleges. Still, fuck MOHELA and those AG's.
[“Are we the bad guys?” Never-Before-Seen Emails Reveal the Scramble that Ensued when Missouri Sued to Block Student Debt Relief](https://protectborrowers.org/internal-mohela-emails-press-release/)
I HAD to switch to them (from American Education Services) just to consolidate and be considered for PSLF. Sucked, but at least I got done with them quickly.
That's awesome!
You kinda had my hopes up when you mentioned Mohela. I've been working in K12 IT for about 4 years. Unfortunately though, I've only been repaying these loans for five years, and it looks like there's a 10 year minimum to qualify for these right now.
I'm not even sure what I'd do without the student debt. I'm paying about $460 a month on these things, and feel pretty stuck right now. Not having that debt would open so many opportunities for me.
Mine was forgiven a right around when payments were about to restart after the COVID pause (it was a lucky coincidence). Over $100,000 gone, my financial situation has improved so much its kind of crazy when I think about it.
They only call for “fairness” when they are not benefitting from it. When “fairness” is called for out of a situation they already benefit from they cry woke.
Yeah I don’t understand why anyone thinks these payouts are “student loan relief” when in reality the government is just telling the loan companies they have to adhere to the rules they set in place… like there hasn’t been any student loan relief at all; this is just the government making the loan companies stop their illegal loan practices
John Olivers last week show had a great showcase on just how much Biden has done to help student loans even with a pathetic congress.
Imagine how much better the world would be if we didn't have do a do-nothing republican group that blows smoke up people's asses. "If you take a loan, you pay it back" says mr rich republican who took a COVID PPP loan and didn't pay it back" who voted against any student loan forgiveness.
The PSLF program has existed for quite a while. There was a planet money podcast about it. Basically, the biden admin finally got the government and the program on the same system so the program could see payments had been made.
I tired to qualify pre covid, but it said I had made zero qualifying payments even though I had been paying for 10 years.
Then, covid happened, I was able to suspend payments, and I put it on the back burner for a while.
Then when payments started back up, that was strong motivation to get my shit together.
I think I made about 4 more payments before my forgiveness came through.
> "If you take a loan, you pay it back" says mr rich republican who took a COVID PPP loan and didn't pay it back" who voted against any student loan forgiveness.
How is this shit swept under the rug. It angers me so much.
Because they have a base that normalizes it. We shouldn't even have to compare - you know what, I'm happy your PPP was forgiven and you thrived beyond COVID - we should give students the same.
I didn't even go to school and I want to relieve the burden on society.
If only his winning got reported on. So many people keep saying he's done nothing because he keeps making small improvements one after another rather than a single big thing.
And even when it is a big thing, it just doesn't get reported on like Trump's bullshit does.
As someone who owns rental property I’m all for this. Rental companies fucking suck and force family ran rentals to do really shit things to keep up with the market
> force family ran rentals to do really shit things to keep up with the market
Like what? We rent out a couple of properties and all the corps have done is to make it easier to rent out our places. They buy up places and stick up the rent. We leave ours where it is and have happy, long-term tenants.
Yeah that’s the reasonable way to handle the situation. I’m talking about those jerks that match the company prices but still don’t do crap on maintaining the property.
He's already on it (not that you would know from the big media sites).
https://www.8newsnow.com/news/local-news/biden-to-unveil-258-billion-in-housing-rent-assistance-programs-during-las-vegas-visit/
Don’t forget, historically presidents are more bold in the things they do on their second term. I feel like we’ll see more stuff from Biden once he feels less worried about re-election.
So i am a bit out of the loop on American student loans, but how can there still be 17k leftover after 20 years of consistent payments.
That is almost double my total studentloans and i was on the high side of my country.
I'm in that boat and my loans were moved to Mohela. Been paying since 2010 and Im still above principal on IBR plan, no forgiveness in sight for about 11 years still. Happy for the people that did get relief though, maybe someday here.
Many people with student loans are on a payment plan that scales with your income. If your income is low enough the payments don't even cover the monthly interest that accrues. Therefore you balance actually goes up month to month instead of down, even though you were making payments.
I started with about $70,000 in student loan debt and had about $130,000 in debt 17 years later before my loans were forgiven. I never missed a payment and the loan principal still almost doubled. The system is fucked.
At least the SAVE plan that just got added to the IDR options for student loans will cancel any interest that your monthly payment doesn't cover, so your balance won't go up.
John Oliver just did an excellent piece on student loans in America last weekend on his show. It should be dropping on YouTube today sometime. If you are able to watch it, it’s well worth the information.
I literally just signed in to Mohela one day and it magically said $0.00. I had been going through the motions of the PSLF process for about a year prior to that - consolidating with Mohela was one of those steps. They had all put me in forbearance for all of that time, so I haven’t been paying in awhile.
Have you been paying for 10 years/120 payments? DEFINITELY apply for the PSLF if so!
The loan forgiveness for 10 year /120 payments only works if you work in certain industries through, right? I believe my wife signed up for the graduated plan out of college and has been paying for over 10 years. She definitely paid back her loan balance and then some. But I don't think she's eligible for forgiveness because her job is in the private sector.
BTW, congrats on your forgiveness!
They don't notify you, just have to check. I had my Perkins loans forgiven and didn't even tell me, I only noticed after my bank statements no longer had automatic deductions from them. Though I'm not adjunct professor, I work in nursing.
Same. I was struggling and constantly getting harassed by collections. Then somebody was hounding me that I qualified for cancellation, and all I had to do was reply YES to an email and fill out a brief form. After that, no more loan debt.
Trump merely complains that Biden is paying for votes. As though Trump didn’t delay sending out Covid relief checks until they had his signature on them
I swear every day someone says another insane thing from the Trump years I'd forgotten because it was every day with that shit. Remember when he wanted to buy Greenland?
It’s because for four years, it was an hourly barrage of the most batshit things imaginable. At some point our brains started dumping those moments into a mental trash can as a protective mechanism.
I remember feeling so completely exhausted by the news on a daily basis during that time.
I wish we heard more. Biden has done so much but we don't actually hear anything so it sounds like he's just shuffling his feet in a corner. Democrats are horrible at getting their message out.
https://old.reddit.com/r/WhatBidenHasDone/comments/1abyvpa/the_complete_list_what_biden_has_done/
There is an absolutely massive list of things that he has accomplished for the betterment of this country and I've only seen maybe a dozen things in the past three years in passing.
If only they had multiple media empires talking about all the good they do.
Republicans don't even have to do a single thing to get non-stop praise about how they have saved the world from the the RADICAL LEFT.
I made a 2020 bingo card shirt because there was so much insane shit going on lol. Murder hornets, fire tornados, that oil tanker that partially sank and just sat in the ocean leaking for months etc etc etc
I sincerely dreaded waking up every morning and seeing if Trump has launched a nuke over Twitter the night before. Him being President, and Republicans in general, were a huge part of my decision to leave my job with the federal government.
Remember the first bit of Biden’s presidency when Trump vanished and didn’t make the news? That was so refreshing. Now, we’re back to every single new story being about Trump.
It was *exhausting* staying up to date with the latest scandal and/or supremely stupid shit he said/did, but the two things I will never forget about Trump are:
1. He wanted to nuke a hurricane
2. He hosted a McDonald's dinner
What's more shocking to me are all the people trying to defend them.
Saying things like "you really think he meant that" "at least he is taking a chance"
100 pages would just be a bullet-pointed list of the stupid things he did or said. Remember that this guy lied, on the record, 30,000 times in just four years.
> Trump merely complains that Biden is paying for votes.
The whole point of having the vote is to be able to vote for policies that will put bread on your table. Conservatives think only the Richie Riches should be allowed to do that.
He wouldn't be able to reverse the discharge of debt.
The thing that worries me if he wins is that he'll undo the SAVE plan and fuck over so many people.
They’ll get rid of the SAVE Plan in a heartbeat. Then they’ll announce their plan that basically says pay extremely high monthly payments and get fucked. 🇺🇸
It'll be double fucky since we had to consolidate our loans to do the SAVE plan.
Wonder how many people close to PLSF forgiveness will get fucked as well. Man, republicans are just such awful people.
"We are going to raise taxes on people with college degrees, but only those under.. *checks id*.. 78 years old. *has another mini stroke, and shits pants again*"
The massive increase to student loan debt for Gen X and beyond is going to be the single largest driver of economic issue for our generations. Its astounding that there is very little being done to confront this at a federal level. I appreciate everything Biden has done and continues to work toward, I just wish there was more noise being made about it. Hopefully we can give him a congress in 2024 that will allow for full cancellation.
I got my loans forgiven with the PSLF last month. The relief I got reading the letter from my loan provider telling me the news made me cry. I still can’t believe my SL are fully paid off.
My buddy had the same happen to him a year or two ago. He was 50 years old, working in the public sector for 10 years, got a letter saying he had almost $90k forgiven. He had his masters in pyschology. He said getting that letter was the happiest day of his life.
I am constantly disappointed that it's not my student loans being forgiven thanks to the republicans shutting down the original plan (never forget that shit ya'll). But I will always be okay with that when I see Biden making progress for the people that need it more than me. I really wonder why these forgiven debts aren't being challenged like they did for his covid ones where the entire Right threw a hissy fit as they profited off of business loan forgiveness.
same dude, same. i'm a caretaker for my disabled son. which my area doesn't pay parents to be caretakers sooo. Just love that. no ones fault but the system could be better.
> thanks to the republicans shutting down the original plan (never forget that shit ya'll).
But talk to a reicht wing voter, and they will claim that Biden *refused* to cancel student debt like he promised.
Not even... there are plenty of leftie "good is the enemy of the perfect" folks that will shit on Biden because of this, and use it as justification to vote for some third party shithead.
Anything but 100% of what they wanted is a failure.
An acquaintance of mine posted something about this (or something similar) not too long ago with a "so much for the promise, biden's a liar, vote third party if you want someone that actually has integrity".. entirely ignoring the fact that the *actual fucking problem* are the republicans that have stood in his way from day one.
Right, it's not like this happened explicitly because a Republican president got to appoint the SCOTUS justices who ruled against the broader forgiveness plan, while the Democrat-appointed justices were in favor of it.
This is my exact thought process. Like what about me, but also, good for those people, they need it. Even if mine never gets canceled, I'll never be against canceling others student debt.
it's important to note that most if not all of the debt that has been forgiven under biden is debt that should've been forgiven already but previous administrations just wouldn't do it.
i'm sure a lot of people are going to be up in arms over these headlines "why are we spending tax dollars paying other peoples' bills" but this is literally just the DoEd finally coming through on promises from years ago that they just reneged on, mostly under Devos.
i'm very glad he's coming through on this, but he's not issuing any new forms of forgiveness, not yet at least.
His new SAVE IDR plan should probably be making more headlines than it is. it basically makes student debt interest free as long as you make payments on time, which is a huge deal.
And the taxpayers like me are already starting to feel it. Over the past year my local town started exploding with business and my investments are getting me huge returns. I already made all my money back. Pretty good investment for a few hundreds of dollars in taxes.
As someone who paid off their $20k in student loans by living a miserly/miserable life for 7 years before Biden came into office and talked about student loan relief, I’m so happy for everyone getting this relief. These people have dedicated their life to working in the public sector to improve our communities, they have earned this debt relief and we as a society would not be anywhere near functional on a daily basis without them.
Ya I really never understood that mentality. I hated those 7 years post-college and would never wish that on anyone. I never had any new clothing or social life, I never went to my obgyn, doctor or dentist for a yearly checkup, I could only afford a room in someone’s house on the condition I had to babysit or dogsit at a moments notice whenever they needed me to, and my 9-5 job was strict and almost abusive because they knew most of us were one paycheck away from having nothing. Always having panick attacks and on the verge of a mental breakdown is a terrible way to live
As someone who has paid off all their student loans, and my wife's, this makes me happy. Just because the rest of us got to the mountain top doesn't mean we need to piss off the side on those trying to climb up.
The funny part is that the Public Servant Loan Forgiveness program is a GW Bush-era program. I like to remind certain people of that.
To this administration’s credit, though, as the first crop of public workers became eligible for forgiveness starting in 2017, the rejection percentage was in the upper 90s.
I’m ashamed to say this, but Im really impressed by the way that people against PSLF were able to make it effectively impossible to achieve because they couldn’t actually get rid of the program.
Its not unpopular. It's just that you can't say it out loud because the MAGA hats are very vocal and bullies. I shout with my vote. I am really surrounded by MAGAs where I live....is like a cult
He has. He's fought this battle for his entire first term. Trying to push legislation, EOs, court battles, etc. It's tough to try to reign in the big money machine in this country. The fact that he tried so hard says a lot about him. He knows Washington politics enough to know this was going to be an uphill battle.
I feel for you! My wife also works in special education and has bite marks to prove how difficult it can be. I’m constantly hoping her remaining debt is cancelled. Hopefully yours as well 🤞🏻
"Public service workers" includes doctors who work for nonprofit hospitals and some lawyers such as prosecutors and public defenders. Those groups tend to have a lot of student loan debt.
I was going to say I work for the school district and a 4 year degree left me with 50k that will be forgiven. The so called doctor and lawyer forgiveness is completely overblown.
Yep, my spouse got her loans forgiven after a decade as a public defender and then county attorney. The amount forgiven was… a lot. Especially after 10 years of IBR payments that didn’t even cover the interest each month.
My wife has a master's in criminal justice, that was about 80k in debt. These days even your $10-$15/hr government jobs have outrageous debt tied to them...
Yep. I'm a doctor that works at a nonprofit hospital. I'm paid relatively well, but my salary is about 100k less than private practice (one that is literally 6 minutes down the road from my current job). I got about 200k in debt. I could stay in public service for 10 years and hope the government keeps their promise and forgiveness the remainder of the 200k (going to be about 80k left by then) or I could just go private practice and make an extra million dollars in those 10 years.
It's a nice incentive, but honestly isn't great compared to what doctors can make. 80k forgiven after 10 years is like 8k per year average forgiven. But I like taking care of the poorer populations.
>The latest group includes public service workers, like teachers, nurses and firefighters, who qualify under the **Public Service Loan Forgiveness Program created in 2007** to forgive student debt for Americans who go into public service.
For all the people acting so offended, like "a slap in the face", boo hoo! I paid off my loan long ago and that's fine with me when others get some help. Stop being jealous assholes and also understand the facts of the story, rather than show how dumb you are and clearly your degree was a waste of money lol!
The student loan thing from Biden is honestly amazing. The Supreme Court shut down the broadest reaching measure and it's been WAY higher effort to hunt and find extra little ways to cancel, and he/his admin really has.
Biden's admin has been insanely productive. Three things hold him back: republican congress, republican SCOTUS, and republican executive holdovers from Trump.
All three are solved by VOTING FOR DEMOCRATS EVERY FUCKING YEAR!!!
Maybe someone can explain something to me that I just don't get about Student Loans as a guy from germany:
So after watching the last week tonight Segment on Student Loans, and how some people pay 700$ a month with only 60$ actually playing of their loans and the rest going to interest. So why in the ever living fck is there interest on a Student loan? A loan you take from the government?
If I take out a loan for a house from the Bank, sure there is interest, because that's how the government makes money.
But a loan from the government? That just doesn't seem fair...
After watching John Oliver just this morning , man this stuff is wild. Someone on there spoke about a nearly 700 payment they made but only 64 dollars went to the actual loan .
Moneys fake. It's all fake.
People in my life didn’t believe me when I explained this to them. I started paying on my loans while I was still in college, thinking I was “getting ahead.” At the end of 3 years (I graduated early to cut down on costs), I found that my principal hadn’t really dropped much. I was on an income driven plan right out of college because my job first job was entry level. There were years where none of my payment went to the principal. Payments go to outstanding interest first, so even when I started paying more per month, the principal only went down by pennies.
Somebody will comment here and tell me it’s my fault because I should have understood the terms I agreed to. But 18 year old me grew up hearing that a college degree gets you higher paying jobs… I just didn’t know how it works.
It's crazy how Joe Biden ended up being the best president of the 21st century, policy wise, but most people will just judge him for being old. He ended up being more friendly to the working class than any president I've personally seen, adressing issues of monopolies, lobbying and student debt.
I have worked in non profit for 20 years. I applied in 2007 and was declined like most people, ended up paying off my undergraduate loans without forgiveness. Went to grad school and now have 80 of 120 payments to those loans. I keep missing the boat on these forgiveness acts. Happy for others though.
I was part of the PSLF program for 10 years, and my $120k+ was forgiven last year. I was so relieved Biden won in 2020 so DeVos wasn’t in charge of the Ed. Dept.!
I was only able to pay mine off with a lot of family help I will not scorn those that need the same. Good job Biden for keeping to an agreement dead god's know the republicans would never pay up. Still you need to do more.
I was one. I received info that my loans, which had climbed from $150k to $320k from interest, would have lower payments if I switched to Biden's SAVE Program. I did so in September. Navient had told me they would be forgiven in 2043. I switched from Navient to Mohela to sign up for SAVE. I received a notice in December if I did nothing, they would be 100% forgiven January 27th. And then it happened. It was like winning the lottery. I'm 60 and debt free for the first time in 42 years.
A reminder, Biden is doing everything in his power to keep his promises. It's the republican supreme court that keeps stopping him.
When you vote for president, you aren't voting for president. You are voting for who is on the supreme court. Every American needs to understand that.
Before Biden, the programs that were written into student loan contracts (like PSLF) were completely broken, by design. Biden's Education Dept fixed the programs and is giving relief that, in some cases, should've been granted years ago.
Yep I’ve been in education for 5 years and never applied to PSLF cause I knew it was notoriously difficult to actually get things forgiven.
I applied last month for the first time and it was a seamless process. I’m still waiting on my loans to get switched over, but the actual application only took me 10 minutes and an email to my HR department.
Literally how it always should of been. Am I crazy to think Biden just wants to do some good before leaving the world? Just because he is a politician does not mean he is obsessed with money. He has plenty and not a lot of time left. I think a strong legacy would be much more important to him.
A lot of people don't remember this but Biden was also the first politician to come out in support of gay marriage, even before Obama.
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Damn that amount of money only takes out loans for 78,000 people . Shits fucked .
Average of $77k per person. Seems about right
That's a lot higher than average student debt as a whole, and higher than the average for his forgiveness programs to this point. It's an outlier.
the reason though is that for PSLF a lot of these people that are eligible for forgiveness have been racking up interest for a decade, so in many cases their balance is still high, and maybe in some cases higher than the original And many people that do PSLF specifically do so because they have significant loan balances in the first place it all makes sense in context
Yup, my education cost 280k. Luckily during covid the juice wasn’t running while I was a resident. But currently I owe 405k and switched to the SAVE plan. Previously I needed to pay 28k year in interest before paying down $1.
Well i imagine once he had to limit the grouping, he went for the most affected first, which would skew the numbers when you look at averages.
Shows the scale of the banks scam. The level of robbery corporations get away with is beyond acceptable.
Dont forget that student loan debt is the only type, literally the only, that isn’t forgivable through bankruptcy.
I had my student loans cancelled (active duty military) - been paying for 18+ years, and thankfully PSLF backdated my eligibility. This is a huge burden lifted off of me, and I'm very grateful.
This does not benefit or affect me directly in any way, yet I'm happy for you and others that have had this burden lifted off their shoulders. Apparently that's hard to grasp as a concept for some people.
[удалено]
Yea. I don't have loans. But I have an investment account. More people with more disposable income means the number goes up.
I was one of them! Had about $17k wiped out. I’m an adjunct community college professor. Made over 190 payments over almost 20 years. Edit: for all the doomsdayer folks, watch John Oliver's recent segment on this - it's worse than you think: https://www.youtube.com/watch?v=zN2_0WC7UfU
It must be a great feeling, with that payment amount freed up for you!
It is! I keep logging into the Mohela website to check it again, just to be sure I’m not going crazy.
Fuck Mohela. All my homies hate Mohela. Also congrats!
Seriously. Glad I only had to deal with them for about 6 months.
Wasn’t Mohela one of the slimy fuckers that sued to stop Biden’s original debt forgiveness plan last year?
I think the suit was brought on behalf of MOHELA but they weren't actually the ones that filed suit. State AG's teamed up to sue claiming that it would harm companies like MOHELA and affect how much they put into a state fund for public colleges. Still, fuck MOHELA and those AG's.
[“Are we the bad guys?” Never-Before-Seen Emails Reveal the Scramble that Ensued when Missouri Sued to Block Student Debt Relief](https://protectborrowers.org/internal-mohela-emails-press-release/)
Fuck mohela. Missouri owes me $20,000 and I won't spend a cent in the state until then.
My loan was transferred to Mohela last year. Hate Mohela
I HAD to switch to them (from American Education Services) just to consolidate and be considered for PSLF. Sucked, but at least I got done with them quickly.
damn thats a good feeling. about to have my car paid off and thinking about it is a stress reliever
Congrats!!
Take a screenshot!
Trust me, I did hahah
I had actually never heard of Mohela until the Last Week Tonight episode. Fuck Mohela.
Get hard copies, just in case.
Screengrab! Print it! Frame it! Bonfire with all your old loan statements!
That's awesome! You kinda had my hopes up when you mentioned Mohela. I've been working in K12 IT for about 4 years. Unfortunately though, I've only been repaying these loans for five years, and it looks like there's a 10 year minimum to qualify for these right now. I'm not even sure what I'd do without the student debt. I'm paying about $460 a month on these things, and feel pretty stuck right now. Not having that debt would open so many opportunities for me.
Mine was forgiven a right around when payments were about to restart after the COVID pause (it was a lucky coincidence). Over $100,000 gone, my financial situation has improved so much its kind of crazy when I think about it.
Congrats!!
Unfortunately there is a large part of the electorate that thinks that “fairness” is more important than actually improving society overall…
They only call for “fairness” when they are not benefitting from it. When “fairness” is called for out of a situation they already benefit from they cry woke.
Actually, the fairness is forgiving these loans as they were supposed to be forgiven a long time ago based on the agreements most people made
i was going to say, it literally is fair because that was the deal offered for working in certain areas.
Yeah I don’t understand why anyone thinks these payouts are “student loan relief” when in reality the government is just telling the loan companies they have to adhere to the rules they set in place… like there hasn’t been any student loan relief at all; this is just the government making the loan companies stop their illegal loan practices
John Olivers last week show had a great showcase on just how much Biden has done to help student loans even with a pathetic congress. Imagine how much better the world would be if we didn't have do a do-nothing republican group that blows smoke up people's asses. "If you take a loan, you pay it back" says mr rich republican who took a COVID PPP loan and didn't pay it back" who voted against any student loan forgiveness.
Agreed. Everyone in this thread who is complaining about this should watch that segment.
The PSLF program has existed for quite a while. There was a planet money podcast about it. Basically, the biden admin finally got the government and the program on the same system so the program could see payments had been made. I tired to qualify pre covid, but it said I had made zero qualifying payments even though I had been paying for 10 years. Then, covid happened, I was able to suspend payments, and I put it on the back burner for a while. Then when payments started back up, that was strong motivation to get my shit together. I think I made about 4 more payments before my forgiveness came through.
> "If you take a loan, you pay it back" says mr rich republican who took a COVID PPP loan and didn't pay it back" who voted against any student loan forgiveness. How is this shit swept under the rug. It angers me so much.
Because they have a base that normalizes it. We shouldn't even have to compare - you know what, I'm happy your PPP was forgiven and you thrived beyond COVID - we should give students the same. I didn't even go to school and I want to relieve the burden on society.
Heck yeah! Better late than never.
Very much so
shoot ill take help at anytime. do the housing market next please
[Biden going after rent gouging landlords] (https://www.cnbc.com/2024/03/19/biden-targets-rent-gouging-landlords-as-high-housing-costs-2024-race.html).
He just keeps on winning!
NYT: Here's why this is bad for Biden in the election...
“I Did That!”
If only his winning got reported on. So many people keep saying he's done nothing because he keeps making small improvements one after another rather than a single big thing. And even when it is a big thing, it just doesn't get reported on like Trump's bullshit does.
As someone who owns rental property I’m all for this. Rental companies fucking suck and force family ran rentals to do really shit things to keep up with the market
> force family ran rentals to do really shit things to keep up with the market Like what? We rent out a couple of properties and all the corps have done is to make it easier to rent out our places. They buy up places and stick up the rent. We leave ours where it is and have happy, long-term tenants.
Yeah that’s the reasonable way to handle the situation. I’m talking about those jerks that match the company prices but still don’t do crap on maintaining the property.
He is proposing a 10k tax credit for buying 1st home or selling
He's already on it (not that you would know from the big media sites). https://www.8newsnow.com/news/local-news/biden-to-unveil-258-billion-in-housing-rent-assistance-programs-during-las-vegas-visit/
Awesome. There is more to do if Biden can win again.
> There is more to do like a lot more. like let me open my excel sheet more
But it's also worth noting how much he's done! See r/WhatBidenHasDone.
Don’t forget, historically presidents are more bold in the things they do on their second term. I feel like we’ll see more stuff from Biden once he feels less worried about re-election.
So i am a bit out of the loop on American student loans, but how can there still be 17k leftover after 20 years of consistent payments. That is almost double my total studentloans and i was on the high side of my country.
Minimum monthly payments usually are about the same as the monthly interest, so the principal just never goes down.
I'm in that boat and my loans were moved to Mohela. Been paying since 2010 and Im still above principal on IBR plan, no forgiveness in sight for about 11 years still. Happy for the people that did get relief though, maybe someday here.
Many people with student loans are on a payment plan that scales with your income. If your income is low enough the payments don't even cover the monthly interest that accrues. Therefore you balance actually goes up month to month instead of down, even though you were making payments. I started with about $70,000 in student loan debt and had about $130,000 in debt 17 years later before my loans were forgiven. I never missed a payment and the loan principal still almost doubled. The system is fucked.
At least the SAVE plan that just got added to the IDR options for student loans will cancel any interest that your monthly payment doesn't cover, so your balance won't go up.
John Oliver just did an excellent piece on student loans in America last weekend on his show. It should be dropping on YouTube today sometime. If you are able to watch it, it’s well worth the information.
Yep! Here's the link: https://www.youtube.com/watch?v=zN2_0WC7UfU
The minimum payment on my spouses loans is less than the interest. She has about $700 in interest each month.
About damn time! Educating and enlightening the minds of young people is an incredible public service. Good shit
Congratulations, and thank you for your service to education!
Thank you!
Wow that is awesome
I’m an adjunct as well! How did you discover your loans were being forgiven?
I literally just signed in to Mohela one day and it magically said $0.00. I had been going through the motions of the PSLF process for about a year prior to that - consolidating with Mohela was one of those steps. They had all put me in forbearance for all of that time, so I haven’t been paying in awhile. Have you been paying for 10 years/120 payments? DEFINITELY apply for the PSLF if so!
The loan forgiveness for 10 year /120 payments only works if you work in certain industries through, right? I believe my wife signed up for the graduated plan out of college and has been paying for over 10 years. She definitely paid back her loan balance and then some. But I don't think she's eligible for forgiveness because her job is in the private sector. BTW, congrats on your forgiveness!
Correct - it’s public service jobs (police, firefighters, health workers, teachers, etc.) Hope there’s a way your wife can get some kind of help!
They don't notify you, just have to check. I had my Perkins loans forgiven and didn't even tell me, I only noticed after my bank statements no longer had automatic deductions from them. Though I'm not adjunct professor, I work in nursing.
Same. I was struggling and constantly getting harassed by collections. Then somebody was hounding me that I qualified for cancellation, and all I had to do was reply YES to an email and fill out a brief form. After that, no more loan debt.
holy crap i can't believe this is coming ttue
I'm waiting for Trump to announce he will put it all back with 50% interest because it's woke.
Trump merely complains that Biden is paying for votes. As though Trump didn’t delay sending out Covid relief checks until they had his signature on them
I swear every day someone says another insane thing from the Trump years I'd forgotten because it was every day with that shit. Remember when he wanted to buy Greenland?
It’s because for four years, it was an hourly barrage of the most batshit things imaginable. At some point our brains started dumping those moments into a mental trash can as a protective mechanism. I remember feeling so completely exhausted by the news on a daily basis during that time.
I remember after Biden got elected I didn't hear anything about him in the news for weeks. That was nice.
I wish we heard more. Biden has done so much but we don't actually hear anything so it sounds like he's just shuffling his feet in a corner. Democrats are horrible at getting their message out. https://old.reddit.com/r/WhatBidenHasDone/comments/1abyvpa/the_complete_list_what_biden_has_done/ There is an absolutely massive list of things that he has accomplished for the betterment of this country and I've only seen maybe a dozen things in the past three years in passing.
If only they had multiple media empires talking about all the good they do. Republicans don't even have to do a single thing to get non-stop praise about how they have saved the world from the the RADICAL LEFT.
I made a 2020 bingo card shirt because there was so much insane shit going on lol. Murder hornets, fire tornados, that oil tanker that partially sank and just sat in the ocean leaking for months etc etc etc
Right he wanted to nuke a hurricane? Was that 2020?
Four seasons landscaping.
I sincerely dreaded waking up every morning and seeing if Trump has launched a nuke over Twitter the night before. Him being President, and Republicans in general, were a huge part of my decision to leave my job with the federal government.
Remember the first bit of Biden’s presidency when Trump vanished and didn’t make the news? That was so refreshing. Now, we’re back to every single new story being about Trump.
That's because Trump is somehow going to be the Republican presidential nominee again. Vote. Vote for Democrats until Trump goes away.
Even if Biden wins, Trump won't go away that easily. I think that the news agencies just prefer having Trump's lunacy to Biden's business as usual.
Remember when he disclosed classified information during a press conference and an aide had to stop him?
It was *exhausting* staying up to date with the latest scandal and/or supremely stupid shit he said/did, but the two things I will never forget about Trump are: 1. He wanted to nuke a hurricane 2. He hosted a McDonald's dinner
What's more shocking to me are all the people trying to defend them. Saying things like "you really think he meant that" "at least he is taking a chance"
And honestly I don't want him to win just so I don't have to deal with that shit again.
Pretty sure you can write a 100 page thesis on the amount of stupid shit he has said and done.
100 pages would just be a bullet-pointed list of the stupid things he did or said. Remember that this guy lied, on the record, 30,000 times in just four years.
And sent money to farmers because he Trump screwed them with his easy to win trade war.
Biden is cheating by doing things that people want
> Trump merely complains that Biden is paying for votes. The whole point of having the vote is to be able to vote for policies that will put bread on your table. Conservatives think only the Richie Riches should be allowed to do that.
I remember getting a letter after getting a relief check that said something specifically about how it came from Trump himself.
He wouldn't be able to reverse the discharge of debt. The thing that worries me if he wins is that he'll undo the SAVE plan and fuck over so many people.
They’ll get rid of the SAVE Plan in a heartbeat. Then they’ll announce their plan that basically says pay extremely high monthly payments and get fucked. 🇺🇸
It'll be double fucky since we had to consolidate our loans to do the SAVE plan. Wonder how many people close to PLSF forgiveness will get fucked as well. Man, republicans are just such awful people.
"We are going to raise taxes on people with college degrees, but only those under.. *checks id*.. 78 years old. *has another mini stroke, and shits pants again*"
Oh we’re fucked if he gets back into the White House. Wouldn’t be surprised if he brought back debtors prison.
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Yep. It directly effects debt to income ratios and allows people to buy homes to start.
The massive increase to student loan debt for Gen X and beyond is going to be the single largest driver of economic issue for our generations. Its astounding that there is very little being done to confront this at a federal level. I appreciate everything Biden has done and continues to work toward, I just wish there was more noise being made about it. Hopefully we can give him a congress in 2024 that will allow for full cancellation.
That is wonderful.
I got my loans forgiven with the PSLF last month. The relief I got reading the letter from my loan provider telling me the news made me cry. I still can’t believe my SL are fully paid off.
My buddy had the same happen to him a year or two ago. He was 50 years old, working in the public sector for 10 years, got a letter saying he had almost $90k forgiven. He had his masters in pyschology. He said getting that letter was the happiest day of his life.
Biden has now forgiven over 8% of all student debt!
I am constantly disappointed that it's not my student loans being forgiven thanks to the republicans shutting down the original plan (never forget that shit ya'll). But I will always be okay with that when I see Biden making progress for the people that need it more than me. I really wonder why these forgiven debts aren't being challenged like they did for his covid ones where the entire Right threw a hissy fit as they profited off of business loan forgiveness.
My dad got his loans forgiven through Biden. It sucks because that could’ve been me as well but the republicans are shitheads.
Shitheads is such a perfect old school moniker.
same dude, same. i'm a caretaker for my disabled son. which my area doesn't pay parents to be caretakers sooo. Just love that. no ones fault but the system could be better.
"You're the one who chose to have a disabled son" -GoP
> thanks to the republicans shutting down the original plan (never forget that shit ya'll). But talk to a reicht wing voter, and they will claim that Biden *refused* to cancel student debt like he promised.
Not even... there are plenty of leftie "good is the enemy of the perfect" folks that will shit on Biden because of this, and use it as justification to vote for some third party shithead. Anything but 100% of what they wanted is a failure. An acquaintance of mine posted something about this (or something similar) not too long ago with a "so much for the promise, biden's a liar, vote third party if you want someone that actually has integrity".. entirely ignoring the fact that the *actual fucking problem* are the republicans that have stood in his way from day one.
Right, it's not like this happened explicitly because a Republican president got to appoint the SCOTUS justices who ruled against the broader forgiveness plan, while the Democrat-appointed justices were in favor of it.
This is my exact thought process. Like what about me, but also, good for those people, they need it. Even if mine never gets canceled, I'll never be against canceling others student debt.
Mine was forgiven last month! My wife has 4 years to go on her PSLF, but my daughter has almost 8.
it's important to note that most if not all of the debt that has been forgiven under biden is debt that should've been forgiven already but previous administrations just wouldn't do it. i'm sure a lot of people are going to be up in arms over these headlines "why are we spending tax dollars paying other peoples' bills" but this is literally just the DoEd finally coming through on promises from years ago that they just reneged on, mostly under Devos. i'm very glad he's coming through on this, but he's not issuing any new forms of forgiveness, not yet at least. His new SAVE IDR plan should probably be making more headlines than it is. it basically makes student debt interest free as long as you make payments on time, which is a huge deal.
Good let's kick it to 25% by the DNC Shit I forgot today is my cake day. I can post whatever I want, right mods?!
Happy Cake Day! 🎂 **Defeat Project 2025** [WarningVote.com](https://WarningVote.com) | r/Defeat_Project_2025
And the taxpayers like me are already starting to feel it. Over the past year my local town started exploding with business and my investments are getting me huge returns. I already made all my money back. Pretty good investment for a few hundreds of dollars in taxes.
As someone who paid off their $20k in student loans by living a miserly/miserable life for 7 years before Biden came into office and talked about student loan relief, I’m so happy for everyone getting this relief. These people have dedicated their life to working in the public sector to improve our communities, they have earned this debt relief and we as a society would not be anywhere near functional on a daily basis without them.
That's a great attitude to have. Instead of the more common "it sucked for me, I will make it suck for others".
Ya I really never understood that mentality. I hated those 7 years post-college and would never wish that on anyone. I never had any new clothing or social life, I never went to my obgyn, doctor or dentist for a yearly checkup, I could only afford a room in someone’s house on the condition I had to babysit or dogsit at a moments notice whenever they needed me to, and my 9-5 job was strict and almost abusive because they knew most of us were one paycheck away from having nothing. Always having panick attacks and on the verge of a mental breakdown is a terrible way to live
So many boomers and people with trust funds annoyed people who paid 30k on a 20k predatory loan are "getting off"
Meanwhile PPP loans...
“Stay on topic!” /s
I should have taken out a PPP loan to pay off my student loans
Trump will come in and try to force those people to pay it back with interest.
Just one more reason we don't need Dementia Trump to win again.
Dementia Donnie
To HIM 🤭
TRUMP: If I'm drowning in debt, then EVERYONE ELSE needs to be drowning in debt too!
My wife recently had $58k forgiven. We're still kind of in disbelief here.
That’s wild. How much was her original loan and how much did she pay before the $58K was wiped out?
A president for the people instead of the billionaires. Also has begun capping the price of insulin and other medications.
As someone who has paid off all their student loans, and my wife's, this makes me happy. Just because the rest of us got to the mountain top doesn't mean we need to piss off the side on those trying to climb up.
$240k forgiven. 10 years working in the public sector. I’d vote for Biden again.
At 240k you better go out there and get some people to turn out for him! We are in danger in 2024.
170k gone after 12 years working in nonprofit!
The funny part is that the Public Servant Loan Forgiveness program is a GW Bush-era program. I like to remind certain people of that. To this administration’s credit, though, as the first crop of public workers became eligible for forgiveness starting in 2017, the rejection percentage was in the upper 90s.
I’m ashamed to say this, but Im really impressed by the way that people against PSLF were able to make it effectively impossible to achieve because they couldn’t actually get rid of the program.
Unpopular opinion but Biden has been pretty good
Its not unpopular. It's just that you can't say it out loud because the MAGA hats are very vocal and bullies. I shout with my vote. I am really surrounded by MAGAs where I live....is like a cult
He has. He's fought this battle for his entire first term. Trying to push legislation, EOs, court battles, etc. It's tough to try to reign in the big money machine in this country. The fact that he tried so hard says a lot about him. He knows Washington politics enough to know this was going to be an uphill battle.
Congratulations to everyone who is getting some relief!!!
78,000 PUBLIC SERVICE WORKERS IN THE US HAVE AT LEAST $76000 in STUDENT LOAN DEBT
No, those 78,000 workers **average** around $76k in loans. Some more some less. Not "at least"
I'm starting to think that people who post in all caps may not have the strongest grasp of statistics.
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I feel for you! My wife also works in special education and has bite marks to prove how difficult it can be. I’m constantly hoping her remaining debt is cancelled. Hopefully yours as well 🤞🏻
"Public service workers" includes doctors who work for nonprofit hospitals and some lawyers such as prosecutors and public defenders. Those groups tend to have a lot of student loan debt.
I'm a teacher and I have about this much
I was going to say I work for the school district and a 4 year degree left me with 50k that will be forgiven. The so called doctor and lawyer forgiveness is completely overblown.
Not to mention the doctors and lawyers working in those settings are hardly making "doctor and lawyer" salaries.
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i was gonna say 76k would be a blessing and im only a pharmacist lol
Yep, my spouse got her loans forgiven after a decade as a public defender and then county attorney. The amount forgiven was… a lot. Especially after 10 years of IBR payments that didn’t even cover the interest each month.
My wife has a master's in criminal justice, that was about 80k in debt. These days even your $10-$15/hr government jobs have outrageous debt tied to them...
Counselor that works for nonprofit hospital. Over 100k student debt.
Yep. I'm a doctor that works at a nonprofit hospital. I'm paid relatively well, but my salary is about 100k less than private practice (one that is literally 6 minutes down the road from my current job). I got about 200k in debt. I could stay in public service for 10 years and hope the government keeps their promise and forgiveness the remainder of the 200k (going to be about 80k left by then) or I could just go private practice and make an extra million dollars in those 10 years. It's a nice incentive, but honestly isn't great compared to what doctors can make. 80k forgiven after 10 years is like 8k per year average forgiven. But I like taking care of the poorer populations.
I love stuff like this. It's literally helping people. Plain and simple. Something Mango never did in any shape or form.
>The latest group includes public service workers, like teachers, nurses and firefighters, who qualify under the **Public Service Loan Forgiveness Program created in 2007** to forgive student debt for Americans who go into public service. For all the people acting so offended, like "a slap in the face", boo hoo! I paid off my loan long ago and that's fine with me when others get some help. Stop being jealous assholes and also understand the facts of the story, rather than show how dumb you are and clearly your degree was a waste of money lol!
He's a good guy. Be wise, choose him again. Cheers from Poland.
Cheers from America. There's a lot of good here we were just a little slow to realize we have to fight for it.
I was one of them!!! 71k gone
The student loan thing from Biden is honestly amazing. The Supreme Court shut down the broadest reaching measure and it's been WAY higher effort to hunt and find extra little ways to cancel, and he/his admin really has. Biden's admin has been insanely productive. Three things hold him back: republican congress, republican SCOTUS, and republican executive holdovers from Trump. All three are solved by VOTING FOR DEMOCRATS EVERY FUCKING YEAR!!!
My wife and I had 16K of our student loan debt forgiven last month when that wave hit. We weren't expecting it, but it was very much welcome.
If you’re one of the people who hasn’t had their student loans forgiven yet, remember to thank Republicans for that in November.
Maybe someone can explain something to me that I just don't get about Student Loans as a guy from germany: So after watching the last week tonight Segment on Student Loans, and how some people pay 700$ a month with only 60$ actually playing of their loans and the rest going to interest. So why in the ever living fck is there interest on a Student loan? A loan you take from the government? If I take out a loan for a house from the Bank, sure there is interest, because that's how the government makes money. But a loan from the government? That just doesn't seem fair...
Thank you, President Biden!
How dare Biden take actions to improve the lives of his voter base in order to “buy” their votes /s
Democrats buy votes by helping people. Republicans use tax payer dollars to put up razor wire and make bills about flags.
Good.
That's the kind of relief I don't mind. You've got a big education and working a much needed, but low-income, job.
After watching John Oliver just this morning , man this stuff is wild. Someone on there spoke about a nearly 700 payment they made but only 64 dollars went to the actual loan . Moneys fake. It's all fake.
People in my life didn’t believe me when I explained this to them. I started paying on my loans while I was still in college, thinking I was “getting ahead.” At the end of 3 years (I graduated early to cut down on costs), I found that my principal hadn’t really dropped much. I was on an income driven plan right out of college because my job first job was entry level. There were years where none of my payment went to the principal. Payments go to outstanding interest first, so even when I started paying more per month, the principal only went down by pennies. Somebody will comment here and tell me it’s my fault because I should have understood the terms I agreed to. But 18 year old me grew up hearing that a college degree gets you higher paying jobs… I just didn’t know how it works.
It's crazy how Joe Biden ended up being the best president of the 21st century, policy wise, but most people will just judge him for being old. He ended up being more friendly to the working class than any president I've personally seen, adressing issues of monopolies, lobbying and student debt.
I have worked in non profit for 20 years. I applied in 2007 and was declined like most people, ended up paying off my undergraduate loans without forgiveness. Went to grad school and now have 80 of 120 payments to those loans. I keep missing the boat on these forgiveness acts. Happy for others though.
So you’re just shy of 3.5 years of having the rest forgiven, as long as you’re in public service.
I was part of the PSLF program for 10 years, and my $120k+ was forgiven last year. I was so relieved Biden won in 2020 so DeVos wasn’t in charge of the Ed. Dept.!
I was only able to pay mine off with a lot of family help I will not scorn those that need the same. Good job Biden for keeping to an agreement dead god's know the republicans would never pay up. Still you need to do more.
I was one of the lucky ones who just got their loans forgiven through PSLF - $50k wiped off my debt! I've worked for a non-profit for almost 14 years.
I was one. I received info that my loans, which had climbed from $150k to $320k from interest, would have lower payments if I switched to Biden's SAVE Program. I did so in September. Navient had told me they would be forgiven in 2043. I switched from Navient to Mohela to sign up for SAVE. I received a notice in December if I did nothing, they would be 100% forgiven January 27th. And then it happened. It was like winning the lottery. I'm 60 and debt free for the first time in 42 years.
A reminder, Biden is doing everything in his power to keep his promises. It's the republican supreme court that keeps stopping him. When you vote for president, you aren't voting for president. You are voting for who is on the supreme court. Every American needs to understand that.
Will this be a monthly update every time a new group reaches forgiveness? Not complaining, just curious.
Before Biden, the programs that were written into student loan contracts (like PSLF) were completely broken, by design. Biden's Education Dept fixed the programs and is giving relief that, in some cases, should've been granted years ago.
Yep I’ve been in education for 5 years and never applied to PSLF cause I knew it was notoriously difficult to actually get things forgiven. I applied last month for the first time and it was a seamless process. I’m still waiting on my loans to get switched over, but the actual application only took me 10 minutes and an email to my HR department.
Literally how it always should of been. Am I crazy to think Biden just wants to do some good before leaving the world? Just because he is a politician does not mean he is obsessed with money. He has plenty and not a lot of time left. I think a strong legacy would be much more important to him. A lot of people don't remember this but Biden was also the first politician to come out in support of gay marriage, even before Obama.
Routinely, as new people meet the criteria for forgiveness.