Except he didn’t. Hell even Birx has come out and said he did basically nothing anyone told him to in regards to Covid.
Should Student Loans Be Forgiven or Enforced?
- Thread starter College#19
- Start date
We get that now you sheep follow the marching orders of the Dems....the Vax and lockdowns and all the draconian measures that leftists foisted on the people were disastrously wrong....so lets blame the Orange Man for the failed vax and their bad policies. SCIENCE...blinded by SCIENCE....You all are pitiful.
Student loans are a debt that should be paid. My kids and I repaid our student loans. It took several years but we did it. Is Biden going to give each one of us 20k. Absolutely not. Just ridiculous.
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You borrowed the money. I bought a house when I was 19. I should not have to pay the mortgage since I was too young to know what I was doing. Get a life.
I agree it isn't fair to people like you. That's why my free market solution of removing bankruptcy protection is the best approach to a bad situation.
But that will never happen. Biden invites all these illegals here and provides benefits that not the average American citizen can get and we as taxpayers foot the bill.
Put your big girl panties on and get over it Princess. Didn’t take me long to see there is another to add to the ignore list.
I guess the truth hurts when you are from the far left waiting for another handout from the government.
Don’t need a handout. However this is a subsidy. Isn’t that what you call it when the elites get financial help. I’m lucky enough to be able to not need assistance on my student loans. I don’t begrudge those who do need help because they took out $20k in loans and have made monthly payments each month for years only to now owe 3, 4, or more to times than that because of predatory lending tactics. They should get help. You should also get help but in a completely different way.
98.8% that got help haven’t made a single payment in over 2 years. Hope you enjoyed your 10k.
Very few have paid in the last 2 years. Many weren’t working or were facing other financial hardships so it was smart to take that money they could have paid to use for other things. Interest didn’t compound during that time either. But let’s say people could have and should have paid the last 2 years, that doesn’t change the facts of my post about people who have paid 10s of thousands of dollars over the years only to continually owe more today than they did when they started paying. I don’t need to he assistance so I won’t be applying for it. I will repeat that I don’t begrudge those that do and am glad they are getting it.
1.2% is very few so it’s true. Even if you want to split hairs about what the definition of very few is or what it isn’t, that doesn’t change the validity of my post.
People who owe more than when they started have deferred payment, extended the payment period, or asked for lower payments than the marginal interest. There is nothing predatory about that. The same thing will happen with any loan if you don’t make payments for a while or if you extend the payment period so that your payments are lower than the accrued interest.
My payment increased by 5 figures my first 3 years due to being income based repayment with 6.7% interest. It was pretty ridiculous.
That isn’t the total truth. My loans were transferred a couple different times. Once to OSLA and then to Nelnet. Each time my interest rate went up. I did t ask for them to transfer but they did anyway and as a result I paid higher interest. Also, many of the repayment issues you listed are a problem because the loan services didn’t explain what those changes meant for the borrower and in many cases mislead the borrowers on those repercussions. By definition, that is predatory lending at its core.
If they increased your interest rate because your loan was sold to another borrower you got screwed. If that is legal it shouldn’t be. My kids loans specified the interest rate in the agreement papers. I don’t think they have the ability to change the rate.
I doubt people didn’t know the consequences of the choices they made. Each federal borrower is required to view an explanation of their loan terms and their choices before they can receive the loan. When you go online to choose your payment options they explain in detail what those options mean.
Never happened. All that gets sold is the note. Terms don't change. The only possibility is if it was a completely private loan that had penalties for default. If so, it's beyond the scope of any of this discussion.
I advised my kids to do the straight 10 year loan so their payments didn’t change. I thought it would help them budget better than a payment that would fluctuate with income. A 5 figure jump is huge. A 5 figure payment is huge much less an increase of 5 figures. My kids pay less than $300 per month.
It did happen because I’ve seen the papers in each time it was transferred to a new service provider. It was never held by a private institution. It might not suppose to happen but it certainly did happen. Also, I see you conveniently ignored the rest of my post.
Do you have a variable rate loan? I’m not sure any federal loans are variable rate loans, but that is the only way rates can change on a loan. The rate is fixed on fixed rate loans and cannot be changed when the note is sold to another servicer. If you believe this happened, you should call your loan servicer and ask what is going on. That loan is no different than a mortgage. The terms are by contract and can’t be changed just because the note is sold to a different company.
It is evident you are the type person that can only attack a person when losing an argument.
They just totally made it up like they do all their other posts. As you already said, rates on these loans don't change even when the servicer or owner changes hands.
That's what happens when you're busted making up stuff.
Besides I posted about the predatory nature of the loans way back on page 1 or 2
Not busted for anything since I’m telling the truth. Regardless, what you and most others in this thread think of me means nothing. I’ve seen the type of people you are based on your posts on this board.
I switched my loan from federal to SoFi about 3 years ago to go from 6.7% to 4.3% fixed for 15 years. It lowered my 30 year income based more than a thousand a month. The rate in the federal loan is outrageous and makes absolutely no sense. They don’t change the rate, TCurtis 100% is lying about that like a weirdo. The funny thing is is that they changed the rate under Obama a year before I started school. Had I started one year earlier my rate would’ve been 1.9%! How insane is that?
Fortunately when I went to college there was no such thing as a "student loan". So I got a job at McDonald's to help pay my way. College was affordable back then and universities did not rip off students with outrageous tuition prices or charge 5 star hotel rates for a college dorm.
The Government should be focused on reforming state colleges and universities. They are the problem. Society sells a false narrative that every kid must go to college to be a success in life. So the prices are jacked. My plumber can tell you a different story as he drives his Mercedes to and from the country club.
But will the administration tackle the problem of excessive costs for a college education. No it is mid term election time and so a group of voters is selected and a free hand out is given to them. Vote buying. I hope the majority of America wakes up to how the mental disease of liberalism works but I will not hold my breath.
The Government should be focused on reforming state colleges and universities. They are the problem. Society sells a false narrative that every kid must go to college to be a success in life. So the prices are jacked. My plumber can tell you a different story as he drives his Mercedes to and from the country club.
But will the administration tackle the problem of excessive costs for a college education. No it is mid term election time and so a group of voters is selected and a free hand out is given to them. Vote buying. I hope the majority of America wakes up to how the mental disease of liberalism works but I will not hold my breath.
Hhhhhmmmm. Who else sees the contradiction to the call for big girl panties and the emotional protection of the ignore list?
Now college grads are not elites. The semantic gamesmanship people play attempting a point. And, it never is convincing to point to others’ alleged hypocrisy as an excuse for your own.
Terms and Conditions Stay the Same
The lender that owns the debt may change. The company responsible for collecting bills and answering questions may change. However, the terms and conditions of the student loan do not change.A student loan is a contract between a borrower and a lender. Lenders cannot just raise rates or change loan terms. If you get moved to a new student loan company, your monthly payment and interest rate should not change.
The only exception is borrowers with variable-rate loans. If the transfer happens at the same time as an interest rate recalculation, borrowers may see a different interest rate or monthly payment.
https://studentloansherpa.com/student-loan-company-changes/
Guys, lets try to keep things civil and factual. No need to feed the liars and trolls that are only here to spread misinformation and gaslight you that this is a good plan for all.
Also, pay your debts.
Also, pay your debts.
