All I know is that if IDR is killed off, I’ll have to go into bankruptcy as i don't have enough for groceries for my family as is. I know the likelihood of getting the stident debt is next to impossible, but i might be able to afford that payment if my cc debt is killed off ($40k) but would still have mortgage, car payment, roof loan payment, and my private student loans as well. I’m just pretty much tapped out. Probably worth more dead than alive, though I’m the bread winner.
this post was submitted on 22 Dec 2024
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Private student loans can be discharged.
There will be a lot of bankruptcies and I can't see how that benefits the corporations that are expecting loan repayments. It seems like they lose either way, so maybe we should have let them lose without fucking over so many other people.
I sort of hope that happens because then people like me would go in and buy
Quote from a certain U.S. politician on real estate crashes...
You shouldn't assume you know things you've not done before. Student loan relief through bankruptcy is not 'next to impossible'. Since the new guidelines were drafted for judges about 98% of student debt holders seeking bankruptcy had some or all of their loans discharged.
You should also be aware that not all studen loan debt is equal. The higher requirements for discharge only apply to loans for tuiton specifically. If you got extra in your loans for computers, car, room, board, etc, then those amounts are treated like any other unsecured debt during bankruptcy.
There are articles/guidelines/worksheets that you can find on the Dept of Education and the Consumer Financial Protection Bureau websites to help you get a good idea of how your specific situation is likely to turn out.
Election promises mean nothing when they all (ALL OF THEM) are in the pockets of the evil rich
Republicans are the only reason this promise wasn't fulfilled. Biden has been trying again and again to get this through.
"The bad cop is the only reason we're in this mess. The good cop has been honest and reassuring us that they're trying their hardest to ensure we get treated fairly."
Biden: Hey here’s half a trillion dollars back on student loans, a trillion dollars on climate change, unions and manufacturing jobs, and a bunch of other stuff, all paid for by big increases in corporate tax
USA: Yeah but corporations are still doing bad stuff though
USA: We pick Trump
Biden: Alright fuck you then
this is stuff that never would have made it all the way to implementation anyway; with voters shooting off their own feet last month, and some hand-picked maga judges ruling against the policy.
He's done what he could with the Republicans fighting him every step of the way. Better to spend this last month doing what he can to Trump-proof stuff.
I dont think he was doing what he could. He could have done a lot more.
Okay, so what is he doing to Trump proof stuff?
He could use his "official acts" granted by the Supreme Circus to rid us once and for all of this turbulent turd. But he won't.
Motherfucker said "Nothing will fundamentally change"
I read that withdrawing the student loans was actually one of the things. If he hadn't Trump could have used the years long progress to implement his own policies. Now he would have to restart the process over again to make any changes.
He just appointed a bunch of federal judges this week.
He has also just made a new international climate agreement. It can probably be thrown out but it's another thing that would cause a delay. Nothing is going to make anything Trump proof since he controls 3 branches of government and is immune to crimes. It's all stall tactics.
Biden is terrible at marketing the stuff he does. He doesn't do enough and the things he does actually do just gets pushed through without any press. He also publicly shows no fight when things are blocked so it looks like he never even attempted. Still runs things like an old time senator expecting nonbiased journalists to spread the word for him.
Trying to finally send all the money approved by Congress to Ukraine
He pardoned a bunch of rich criminals
Jaaaaaack
Fucking
Shiiiiiiiiit
Right right. That's why he needed to start doing things 3.9 years ago instead of screwing around for so long. What a failure. Or a success, depending on your perspective.
Biden had the same challenges Obama did when Obama had his terms. Republicans got in the way. But Obama was still dealing with moderate and crazy but tamed Republicans who still sided with Bush at the time and propped McCain and Romney to oppose him.
Biden was going up against a more insane breed of Republicans who've gotten a nice dosage of the first 4 years with Trump, who've turned the country upside down and all around. Everything was going to be an uphill battle moreso than Obama's struggle was.
Have you been living under a rock for 4 years? The fuck you mean he spent 3.9 years screwing around on this, you have no fucking clue what you are talking about. This is one of the things Biden pursued hardest in the face of ridiculous opposition. It went to the Supreme Court. Like two years ago.
I don't know what the deal is with pulling this program now (although someone else said it was actually a way to block Trump from doing something worse), but he literally spent all four years trying to get through student loan forgiveness. His major plan was blocked by SCOTUS and he's been blocked by other judges every step of the way.
And the fact that you don't know that speaks much more about you than it does about him.
I have no love for Biden. I keep saying I hate that he's been one of the best presidents of my nearly 50-year lifetime because that just shows the low the bar is. But he still did clear that bar on occasion and trying to do student loan forgiveness is one of them.
He can't just make commands from on high and they get implemented, no questions asked. As Paddzr suggested, this is part of the reason why Trump won. People think the president is a dictator, which is why they elected a man promising to be a dictator.
I'm not so certain he was genuine in wanting to get that done, or at least to the extent. He's one of the reasons student debt is so hard to discharge, and played a role in manufacturing the current crisis.
He was literally doing it. I'm not sure how much more "genuine" you can be.
That's not what I said. I said I'm not convinced how genuine he was in wanting to get it done. You can still do something you don't genuinely want to do; that's what half-assing something looks like.
And this is why Trump won. Because people like YOU. Just because YOU didn't pay attention for 4 years, doesn't mean he sat on his ass doing nothing.
I hope reality hits you like a truck now.
ugh i wish
LOL. The absurdity at this rate...
I'm so sick of our financial wellbeing being a pawn for these political asshats to play with...
My loan repayment period was supposed to end in June of this year as part of the service workers repayment plan. I wasn't even on the SAVE plan and my account has been put into some sort of weird limbo because of all this stupid garbage. My servicer won't even touch my account. They just keep extending the forbearance on it every time a new judge steps in.
Now Trump's gonna step in yet again and fuck us all even more...
I mean... The country spoke... So why bother.
I really don't like it when people say "The country spoke" like, excuse you, but I didn't vote for Trump so don't you dare assume that I did.
71 million people spoke out of the 334.9 million in America. 150 million americans did vote while 90 million didn't.
I don't understand your numbers but yeah, I am not exactly happy about how things went down.
Rules were unfinished - they were trying to rewrite a second version after Republicans kept blocking it in court. The unfinished rules already had republicans threatening to sue about it. Presumably ran out of time to complete it
He's still looking at other more narrow areas that are less able for Republicans to make BS challenges on
Biden is still pursuing other avenues for debt relief before his term is up. On Friday, his administration announced an additional $4.28 billion in debt relief for 54,900 borrowers in Public Service Loan Forgiveness — a result of ongoing improvements to the program. Despite not being able to pass broad relief, Biden, over the course of his term, has provided relief to nearly 5 million borrowers through changes to various programs.
Trump said he was going to reinstate all the debt anyway.
Do you have a source for that? I'm not sure how one would even go about bringing debt back that has been effectively erased.
You can't, but that never stopped Trump from saying shit like this. "Mexico will pay for the wall"
I don't have a source but that is about as Trump as Trump can get.