October 5, 20214 yr 48 minutes ago, lynched1 said: Very popular.......😄 Yeah it's really weird that the former KKK capital of Michigan and current backwater rube-infested hellhole didn't lovingly embrace Biden.
October 6, 20214 yr Miguel Cardona apparently tweeted on Sunday that sometime this week he will be announcing an overhaul of the public service loan forgiveness program. I can not wait to hear what it is, and if I will qualify. I reached my 10 years of payments back in august. I called. And they told me I was on the wrong plan (I knew this). I mentioned the temporary expanded program which was supposed to include those of us that were not in the right plan. More specifically, those on standard repayment plans like myself were supposed to qualify under the temporary expanded program. The man told me that whatever servicer I had 12 years ago put me on some special kind of standard plan. Which does not qualify. Even though standard plans do qualify with the temporary expanded program. Mine does not. He told me I would have to change to an income based plan and start from scratch on the 120 payments. Another 10 years. I said, with the temporary expanded plan there is a stipulation that states if you have paid more than you would have, had you been on an income based plan for 10 years, you qualify for forgiveness. I said, I have definitely paid more than I would have on an income based plan. He said yes. But, you still have to be in a qualifying repayment plan. So.... I got majorly F'd even by the temporary expanded plan which was meant to help people who were screwed by the original plan. I am crossing my fingers that Cardona is going to make this retroactively inclusive for all public service regardless of which payment plan you have been on.
October 6, 20214 yr 1 hour ago, we_gotta_believe said: Yeah it's really weird that the former KKK capital of Michigan and current backwater rube-infested hellhole didn't lovingly embrace Biden. He is your kinda people. You forgot about Ypsilanti.
October 6, 20214 yr 50 minutes ago, lynched1 said: He is your kinda people. You forgot about Ypsilanti. Ypsi at least gets some lib bleed over from AA. No such dynamic with Howell.
October 6, 20214 yr 1 hour ago, HazletonEagle said: Miguel Cardona apparently tweeted on Sunday that sometime this week he will be announcing an overhaul of the public service loan forgiveness program. I can not wait to hear what it is, and if I will qualify. I reached my 10 years of payments back in august. I called. And they told me I was on the wrong plan (I knew this). I mentioned the temporary expanded program which was supposed to include those of us that were not in the right plan. More specifically, those on standard repayment plans like myself were supposed to qualify under the temporary expanded program. The man told me that whatever servicer I had 12 years ago put me on some special kind of standard plan. Which does not qualify. Even though standard plans do qualify with the temporary expanded program. Mine does not. He told me I would have to change to an income based plan and start from scratch on the 120 payments. Another 10 years. I said, with the temporary expanded plan there is a stipulation that states if you have paid more than you would have, had you been on an income based plan for 10 years, you qualify for forgiveness. I said, I have definitely paid more than I would have on an income based plan. He said yes. But, you still have to be in a qualifying repayment plan. So.... I got majorly F'd even by the temporary expanded plan which was meant to help people who were screwed by the original plan. I am crossing my fingers that Cardona is going to make this retroactively inclusive for all public service regardless of which payment plan you have been on. Or you could just, ya know, actually pay back the money you borrowed like you agreed to back when you had your hand out.
October 6, 20214 yr 7 minutes ago, we_gotta_believe said: Or you could just, ya know, actually pay back the money you borrowed like you agreed to back when you had your hand out. not if theyre going to tell me I dont have to anymore. that would be stupid.
October 6, 20214 yr Just now, HazletonEagle said: not if theyre going to tell me I dont have to anymore. that would be stupid. Not as stupid as complaining about socialism while begging for loan forgiveness.
October 6, 20214 yr 7 hours ago, Gannan said: From a policy standpoint we have to reengage with the world. Isolationism is part of what is causing this. The other part is to try to tackle out of control income inequality. The idea that corporations are exempt from income taxes is absurd. Additionally, the fact that labor is taxed at a higher rate than capitol is also responsible for driving this. So you went commie…got it
October 6, 20214 yr 23 minutes ago, we_gotta_believe said: Not as stupid as complaining about socialism while begging for loan forgiveness. I havent begged for anything.
October 6, 20214 yr I don't have a problem with student loan forgiveness so long as there's a reasonable price attached. Around 20-25 years ago, student loans were dischargeable in Chapter 13 bankruptcies. The debtor had to go on a 3-5 year payment plan, and if the plan was consummated, the debt would be discharged. Today, there has to be a hardship which is difficult to prove. All other things being equal, debt forgiveness is good for the economy. It's unhealthy to have a bunch of indentured servants bound for most of their lives to pay off debt. All too often, you have young, naive students who are sold a bill of goods by educational and financial institutions. But again, the money was borrowed, and there has to be some price attached to forgiving the debt. Bankruptcy is one way of getting the debt discharged. Another way is to require some sort of national service - military or otherwise. Yes, find a way to discharge the debt - but do so in an equitable manner so there is a reasonable price attached to the discharge.
October 6, 20214 yr 13 minutes ago, Procus said: I don't have a problem with student loan forgiveness so long as there's a reasonable price attached. Around 20-25 years ago, student loans were dischargeable in Chapter 13 bankruptcies. The debtor had to go on a 3-5 year payment plan, and if the plan was consummated, the debt would be discharged. Today, there has to be a hardship which is difficult to prove. All other things being equal, debt forgiveness is good for the economy. It's unhealthy to have a bunch of indentured servants bound for most of their lives to pay off debt. All too often, you have young, naive students who are sold a bill of goods by educational and financial institutions. But again, the money was borrowed, and there has to be some price attached to forgiving the debt. Bankruptcy is one way of getting the debt discharged. Another way is to require some sort of national service - military or otherwise. Yes, find a way to discharge the debt - but do so in an equitable manner so there is a reasonable price attached to the discharge. Mine would be public service, through the public service loan forgiveness program. Hopefully, if Cardona does right by these people and gives what was promised but not delivered.
October 6, 20214 yr 2 hours ago, HazletonEagle said: Miguel Cardona apparently tweeted on Sunday that sometime this week he will be announcing an overhaul of the public service loan forgiveness program. I can not wait to hear what it is, and if I will qualify. I reached my 10 years of payments back in august. I called. And they told me I was on the wrong plan (I knew this). I mentioned the temporary expanded program which was supposed to include those of us that were not in the right plan. More specifically, those on standard repayment plans like myself were supposed to qualify under the temporary expanded program. The man told me that whatever servicer I had 12 years ago put me on some special kind of standard plan. Which does not qualify. Even though standard plans do qualify with the temporary expanded program. Mine does not. He told me I would have to change to an income based plan and start from scratch on the 120 payments. Another 10 years. I said, with the temporary expanded plan there is a stipulation that states if you have paid more than you would have, had you been on an income based plan for 10 years, you qualify for forgiveness. I said, I have definitely paid more than I would have on an income based plan. He said yes. But, you still have to be in a qualifying repayment plan. So.... I got majorly F'd even by the temporary expanded plan which was meant to help people who were screwed by the original plan. I am crossing my fingers that Cardona is going to make this retroactively inclusive for all public service regardless of which payment plan you have been on. Ehh, pay your debts that you agreed to and stop acting like a millennial. Or maybe just don’t go in to decades of debt for a degree that won’t pay off.
October 6, 20214 yr 33 minutes ago, Jsvand12 said: Ehh, pay your debts that you agreed to and stop acting like a millennial. Or maybe just don’t go in to decades of debt for a degree that won’t pay off. Too late!
October 6, 20214 yr 53 minutes ago, Jsvand12 said: Ehh, pay your debts that you agreed to and stop acting like a millennial. Or maybe just don’t go in to decades of debt for a degree that won’t pay off. This happens way to much..... The amount of people that have useless degrees that they won't be paying off anytime soon is mind blowing
October 6, 20214 yr 2 hours ago, HazletonEagle said: Mine would be public service, through the public service loan forgiveness program. Hopefully, if Cardona does right by these people and gives what was promised but not delivered. Good luck. I hope things work out for you.
October 6, 20214 yr 2 hours ago, Jsvand12 said: Ehh, pay your debts that you agreed to and stop acting like a millennial. Or maybe just don’t go in to decades of debt for a degree that won’t pay off. I understand where you're coming from, but these student loans are really a different animal. You have wolves in sheeps' clothing in the form of educational institutions and lending institutions encouraging young, inexperienced students to borrow large amounts of money. In most situations, a lender wouldn't approve unsecured debt in these amounts by borrowers without the ability to pay. But the federal government guarantees the loans. We already have bankruptcy laws that allow debtors to discharge other unsecured debt like credit cards. An equitable solution is to allow student loan debt to be discharged in the manner previously allowed before the bankruptcy code was amended to make it much more difficult to do so. We can't have a permanent financially crippled class of people weighed down with debt they'll never afford to be able to repay. Otherwise, stricter requirements should be imposed before the government agrees to guarantee these loans.
October 6, 20214 yr my issue with the student loan debt forgiveness program is that many entered into it taking sub-par positions solely on the expectation that it would be there for them after 10 years of service. it was then rendered more and more difficult to obtain. I have colleagues with excellent marketable skills who labored in local gov't for more than a decade chasing this, only to give up and enter the private sector at much higher pay rates - rates they had surrendered for that time. regardless of whether you think the program ought to have been in place or not, it was put out there as an incentive to get professionals working in public sector jobs they might not have otherwise considered. changing the terms of a deal entered into in good faith is not something we should agree with, regardless of ideological leanings.
October 6, 20214 yr "Biden summons bank CEOs, other business leaders as debt ceiling showdown with GOP escalates - The Washington Post" https://www.washingtonpost.com/us-policy/2021/10/06/white-house-debt-ceiling/
October 6, 20214 yr 11 hours ago, ToastJenkins said: So you went commie…got it Even @vikas83 agrees with me that corporations paying an effective rate of 0% is problematic. Don't be obtuse.
October 6, 20214 yr 11 hours ago, Procus said: I don't have a problem with student loan forgiveness so long as there's a reasonable price attached. Around 20-25 years ago, student loans were dischargeable in Chapter 13 bankruptcies. The debtor had to go on a 3-5 year payment plan, and if the plan was consummated, the debt would be discharged. Today, there has to be a hardship which is difficult to prove. All other things being equal, debt forgiveness is good for the economy. It's unhealthy to have a bunch of indentured servants bound for most of their lives to pay off debt. All too often, you have young, naive students who are sold a bill of goods by educational and financial institutions. But again, the money was borrowed, and there has to be some price attached to forgiving the debt. Bankruptcy is one way of getting the debt discharged. Another way is to require some sort of national service - military or otherwise. Yes, find a way to discharge the debt - but do so in an equitable manner so there is a reasonable price attached to the discharge. Forgiving the interest seems to be the best compromise to me. It avoids the moral hazard while allowing folks to get out of debt in a reasonable amount of time. The way student loans are run now is nothing short of a scam. 60 minutes had a great piece about how student loan scams are defrauding our military. https://www.cbsnews.com/news/student-loan-debt-forgiveness-public-service-60-minutes-2021-10-03/
October 6, 20214 yr It's funny when any suggestion of a tax increase anywhere, in the least taxed advanced economy on the planet (revenue to GDP), is lazily dismissed as "socialism" or "communism".
October 6, 20214 yr 1 hour ago, JohnSnowsHair said: my issue with the student loan debt forgiveness program is that many entered into it taking sub-par positions solely on the expectation that it would be there for them after 10 years of service. it was then rendered more and more difficult to obtain. I have colleagues with excellent marketable skills who labored in local gov't for more than a decade chasing this, only to give up and enter the private sector at much higher pay rates - rates they had surrendered for that time. regardless of whether you think the program ought to have been in place or not, it was put out there as an incentive to get professionals working in public sector jobs they might not have otherwise considered. changing the terms of a deal entered into in good faith is not something we should agree with, regardless of ideological leanings. Betsy Devoss who made her billions in part from the student loan business made the debt forgiveness program unattainable for virtually everyone and fundamentally broken. Sadly the Biden administration has done nothing to fix it.
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