Urgent Update! Student Loan Forgiveness

In this video, we'll go through what's happening with the student loan payment pause as well as the student loan debt forgiveness program.
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[@skoolie_life3261]

I continued paying on mine while they were on pause. Finally paid them off a year ago. It’s a great feeling and I’m glad I didn’t wait for a bail out that will never come.

[@grigorirasputin425]

That is because you have dignity and honor and some woke imbeciles are expecting tax payers to pay for their gender studies

[@johnnycircus7463]

Rule #1: The government always gets its money

[@JarradMorrow]

And Rule #2 never take what they say at face value and question everything they do/say/promise.

[@grigorirasputin425]

Rule # 3 Pay back what you borrowed and don't expect others to do that for you.

[@kgal1298]

@@grigorirasputin425 Kay tell that to everyone who took a PPP loan. Let's not be idiots here corporations take government subsidies all the time, but no one bats an eye. There's more to it than what is being told here. And yes I will argue this. I already paid off most of my loans, but I think the lies, the cost of college and interest rates on these loans are ridiculous and it's the one type of loan that was taken off bankruptcy terms. 1 guy in the past 40 years has been able to do it after proving his disaility kept him from working. You guys are blind if you think that people took out these loans are selfish that's not the case.

[@grigorirasputin425]

@@kgal1298 the only idiot here is your woke ass. I am a CPA and saw PPP loan agreements they said initially that if Corporations will keep your woke ass employed they will have those money forgiven. When your woke ass took out a government loan for your gender studies there was no mention that your woke ass will get off the hook because you picked useless degree. Was there such a language?Pay back what you borrowed!!! 🤡🤡🤡

[@SpoonHurler]

House always wins.

[@toddwick621]

This is timely... Today is my LAST student loan payment. I had no idea what I was doing at the time, so most of my loans were private. When I got intentional about my finances, I made a promise to myself that I'd pay off my student loans before I turned 40. Here I am about a week away from turning 38, so mission accomplished!

[@JarradMorrow]

Congrats! Proud of you! Make sure to celebrate in some way because this is a life changing event.

[@economicdevelopmentplannin8715]

All federal student loans are already forgiven at death. Forgiveness is already baked in the program. People really should worry less about federal student loans. Go to college if that's what you enjoy.

[@thetacticalaccountant]

Does that mean it starts accruing interest again on June 30th?

[@Lonovavir]

Paying off the principal now's a good idea. Every dollar of principle paid off is a victory. Waiting for the government to bail you out is waiting for a train that doesn't come.

[@Khamul]

I really feel like it was worth mentioning- right now, we are technically in forbearance. When a period of forbearance ends, all outstanding interest is capitalized, meaning it's added to the principal. This is heinous (my phone autocorrected to "genius") because now future interest is generated off of a higher principal. Not only should you assume the debt relief won't happen, you should also make sure you have paid off all outstanding interest before forbearance ends.

[@jgray690]

No. The federal loan interest rate was moved to 0 percent for the entire forbearance period under the covid relief measures. It's literally on page one when it was enacted right under moving them into forbearance.(so I don't know how you missed that) So they will NOT be adding interest to that time.

[@mario_luis_dev]

welp..I'm screwed

[@MelissaLona]

I’m so glad my student loans were forgiven in this 3 year period and completely dropped off my credit report and all. I’m glad I didn’t have to rely on the $10k to $20k student loan forgiveness since it’s tied up in court. But I wish everyone the best that are still have loans after all this time.

[@kgal1298]

Court decision is a few weeks away...which is why the plan to end the forebearance was always this month. On top of that Biden played the Repubs with the Debt deal. It's actually hilarious when you look into it.

[@nicholas9886]

I hope it doesn’t pass. People need to pay their bills. I paid mine off during Covid cause I was saving so much money not going anywhere. My wife got her masters during Covid and we paid cash. It’s doable.

[@camc8923]

The biggest problem is those that put themselves in a heavy student loan debt level are also the ones who were stupid during this time and wasted the freed up cash and now they still have to pay it. They get what they deserve, welp I guess they wont be able to get the newest iPhone and have to drink home brewed coffee

[@shawn9975]

People have to be held accountable for their debt. It is unfair for students who worked hard to acquire scholarships and set money aside for their own education.

[@kgal1298]

Kay but not coprorations that took PPP loans and misused funds? Now Billionaires taking gvoernment subsidies for their pet projects, not banks? We've bailed out banks more than anyone cares to admit. The double standards are a bit ridiculous.

[@shawn9975]

@@kgal1298 I understand your comment, but it seems that you are discussing a separate issue here. I did not say “It is the right thing for corporations to commit fraud and government should bail them out when they fail.” While I agree with that the college system is broken as it became ridiculously expensive, I am simply stating the basic principle of how this world should work - that is, as an adult, you are responsible for your own actions. At the end of the day, students themselves signed up for the debt. Other people’s wrong doing, even if they may get away with it for now, should not become the justification for more people to do things wrong. How is this double standard? If you a student loan borrower, the better question to ask yourself is that “did I set money aside and pay down my principe when the interest was paused?”, instead of “why can’t the tax payers bail me out?”

[@mary-elizabeth]

Reading a book called "Never pay the first bill" by Marshall Allen. It is about bills and the health care industry. Love to see a movie on the health care industry and how you personally keep medical costs low. I have a family of five and a high deductible plan and we keep getting clobbered by medical bills that are just outrageous!

[@tylergable2445]

Wohoo!! Make them pay!

[@blinddog4288]

I got the first like!! Make them pay! Generations before these spoiled brats paid their loans. I will say the government needs to limit loan amounts. It’s crazy you can take 100-150k loans on a degree that pays $40k.

[@iArcanex]

Well, I mean this is an institutional issue. Prior generations did not pay an arm and a leg for their student loans and now a days they can amount to as much as a mortgage which is completely unreasonable. This is especially so if the salary return as you pointed out isn't very high otherwise most people are fine and able to pay their loans. The education system has bled students dry these past two to three decades and an adjustment needs to be done not just to loan policies, but reevaluating higher education tuition to be feasible for a given career path. That's probably not going to happen any time soon though given the state of corruption and corporate greed that has overtaken different systems across the nation. To anyone looking to go to school I'd just recommend going to community colleges and state universities compared to private institutions due to their expenditure imbalance, the former options are at least far easier to pay off. If your career path does not yield a decent salary return, I might also rethink your choice and look at pivoting unless you are learning with the intent of not making a living out of your career. Alternatively, for anyone looking for a decently paying profession, fields with an apprenticeship are high in value. Regarding education, you can also mostly educate yourself on topics based on resources you can find online if college/uni are not feasible for your situation but expect finding jobs to be harder if you go that route.

[@blinddog4288]

@@iArcanex No, this generation are just stupid. They take max student loans ands blow it on vacations and new MacBook or a new iPhone. Another thing is people go right to a university instead of doing 2 years at a community and then transfer to a university for their BA, or they go out of state and pay higher tuition……

[@kgal1298]

This is such a bad take no wonder they call you the "me" generation. It's more nuanced than that.

[@kgal1298]

@@iArcanex Which they are now mainly because the last 20 years of our generations have been guiding them to do something else. Most people do not need to go to an expensive college right away.

[@shephudson1383]

I signed on the line and promised to pay. Same numbers as you @JarradMorrow . Took me 5 years to pay it off. Hopefully, the low-info voters have learned a lesson from this.

[@kgal1298]

Low info? Okay, but keep in mind many people already had loans forgiven because of for profit school scams. Student loan interest was always the first problem (which should be rectified soon), promises that higher education would let you succeed also a lie. I'm for them having them forgiven I make over 6K figures so I wouldn't qualify, but I think people are being a bit ridiculous because they're using their own story to justify it not happening. Not that it matters it's out of the publics hand the judgement comes this month.