Celebrating 10 years! 2007-2017

Student Loan Changes Are About To Become Reality

Looks like PSLF is going the way of the DODO. On brighter ne cocolawyer02/01/17
The article is based on the speculations of one think tanker passportfan302/01/17
I support 12.5% for 15 yrs. Just sayin' mtobeinf02/01/17
12.5 of agi haha triplesix02/01/17
I swear my shyte isn't calculated on AGI at present. I reall mtobeinf02/01/17
Quit winning and making money if you want to your monthly to triplesix02/01/17
No shyte right. Loans doubled. Thanks hard work and opportun mtobeinf02/01/17
Annoying thread title OP. Actual article title: "3 Studen zuma02/01/17
OP learning from CNN! triplesix02/01/17
It is exactly what Trump has reiterated on numerous occasion cocolawyer02/01/17
The true test for PSLF is in about 10 months, when the first finklebots02/01/17
True...True.... qdllc02/03/17
My guess is that when the bills for PSLF start coming due, t finklebots02/03/17
They are already paying the minimum, what are you talking ab triplesix02/03/17
Not always. For example, some get married while on PSLF and finklebots02/03/17
I have a feeling that is a very limited number of people, if triplesix02/03/17
I hate how people always lump doctors and lawyers together w onehell02/02/17
What about the lawyers who became ausa or doj. Top salary is readingrainbow02/02/17
yeah, but, tuition was much lower back in the '70s dingbat02/03/17
Trump should make student loans dischargeable in bankruptcy. johnsmith02/02/17
Restoring bankruptcy rights on student loans (even if they r qdllc02/03/17
Hope he makes the 15 years retroactive. whipster02/03/17

cocolawyer (Feb 1, 2017 - 2:03 pm)

Looks like PSLF is going the way of the DODO. On brighter news repayment for income based should be 15 years instead of 20-25.

http://www.usnews.com/education/best-colleges/paying-for-college/articles/2017-01-31/3-student-loan-reforms-to-expect-under-trump?src=usn_fb

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passportfan3 (Feb 1, 2017 - 2:14 pm)

The article is based on the speculations of one think tanker, and he works at the conservative free-market-loving American Enterprise Institute.

I would pay this topic little mind until actual legislation starts moving through the Hill.

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mtobeinf (Feb 1, 2017 - 3:12 pm)

I support 12.5% for 15 yrs. Just sayin'

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triplesix (Feb 1, 2017 - 4:01 pm)

12.5 of agi haha

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mtobeinf (Feb 1, 2017 - 4:04 pm)

I swear my shyte isn't calculated on AGI at present. I really think they just hit me w gross bc my salary increased so much. Banking on my acct for this years taxes. And gross fn sucks. Hopefully this tax reform hits get the 15 k deduction get the loan repay based off that for the future.

I didn't benefit a dime from social welfare when I was living off of less than 15k a year for years. So way I figure...show me the money.....show me the money!!!!

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triplesix (Feb 1, 2017 - 4:07 pm)

Quit winning and making money if you want to your monthly to go down.

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mtobeinf (Feb 1, 2017 - 4:09 pm)

No shyte right. Loans doubled. Thanks hard work and opportunity!

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zuma (Feb 1, 2017 - 4:37 pm)

Annoying thread title OP. Actual article title:

"3 Student Loan Reforms to Expect Under Trump"

Author and sources don't know anything and are just making predictions I could have made months ago.

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triplesix (Feb 1, 2017 - 5:08 pm)

OP learning from CNN!

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cocolawyer (Feb 1, 2017 - 5:51 pm)

It is exactly what Trump has reiterated on numerous occasions.

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finklebots (Feb 1, 2017 - 5:22 pm)

The true test for PSLF is in about 10 months, when the first cohort is eligible for forgiveness. Based on the press coverage of that, we should get a pretty good idea of where the program is headed. Until then, I wouldn't expect to hear much. I don't think we're a big priority either way.

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qdllc (Feb 3, 2017 - 11:01 am)

True...True....

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finklebots (Feb 3, 2017 - 12:04 pm)

My guess is that when the bills for PSLF start coming due, the DOE is going to have to weigh the cost of scrapping PSLF (in the form of enrollees immediately switching to 30 year plans and drastically diminishing cash flow) against the cost of allowing those already in the program to continue to pay more and get a 'bonus' in a few years for paying more than the minimums.

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triplesix (Feb 3, 2017 - 12:12 pm)

They are already paying the minimum, what are you talking about?

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finklebots (Feb 3, 2017 - 12:17 pm)

Not always. For example, some get married while on PSLF and become part of a two income household. In that case, you're allowed to cap your payments at what they would be under the 10 year repayment plan.

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triplesix (Feb 3, 2017 - 12:19 pm)

I have a feeling that is a very limited number of people, if they even exist. I don't see how that would even be a consideration for DoE.

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onehell (Feb 2, 2017 - 1:31 pm)

I hate how people always lump doctors and lawyers together when claiming PSLF abuse. The windfall for doctors is not created by PSLF, but rather by the fact that so many hospitals are nonprofits despite not being anything like the typical cash-strapped nonprofit or government agency the drafters envisioned.

Lawyers in PSLF really do make 40-60k for life. They're not going to get some biglaw job the day after forgiveness. Doctors, OTOH, have an artificially low income during a residency/fellowship at a nonprofit hospital, following which they can write their own ticket. Totally apples and oranges.

And as to GradPLUS, I was in law school before it existed. The schools didn't charge less tuition just because of the caps on Stafford loans, they just made everybody get private loans from Access Group and places like that. Those loans are awful. There's no way out because they get the same bankruptcy-proofing that federal loans get with none of the generosity in repayment options. You can't get rid of GradPLUS unless you also make private loans dischargeable again, and limit the private lenders' ability to demand cosigners and come after your family, as such lenders often do.

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readingrainbow (Feb 2, 2017 - 6:53 pm)

What about the lawyers who became ausa or doj. Top salary is 160....

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dingbat (Feb 3, 2017 - 9:29 am)

yeah, but, tuition was much lower back in the '70s

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johnsmith (Feb 2, 2017 - 2:55 pm)

Trump should make student loans dischargeable in bankruptcy. He's all about bankruptcy

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qdllc (Feb 3, 2017 - 11:03 am)

Restoring bankruptcy rights on student loans (even if they required a 10-year paying in good faith prerequisite) would go a long way to restoring sanity to the lending system. The risk of debt being discharged as regular unsecured debt would make lenders think twice about who they lend money to and for what types of degrees. It would also put some sanity back into college tuition since people can't just get "easy money" to attend school.

However, if you opened the door to bankruptcy, expect a flood of people filing for protection. So many borrowers are in over their heads with no hope of ever getting back on track...the BK courts are already backlogged with existing cases.

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whipster (Feb 3, 2017 - 5:33 pm)

Hope he makes the 15 years retroactive.

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