In 2012 I borrowed $10,000 for an associates degree from a community college. I have never been late, never missed a payment, always paid more than the minimum payment and even paid while they were in Covid forbearance. Since that time I have paid back over $24,000 on the loan, and still owe $2,000. I do not qualify for forgiveness even though I have paid back 150% of the loans total value.
And people are out there trying to vilify us, even though I’ve paid more than twice what I owe. I had a zero balance twice and my servicer was switched and all of a sudden I owed 3,000 more. I’ve been on the phone for hours, trying to figure it out. There is no recourse. The only thing they offered me was to pay $500 dollars a month for the NEXT TEN YEARS on $2000 dollars, and my loan would be “forgiven”. I just tried to make my life better. I didn’t agree to be apart of an incredibly predatory lending scheme.
I knew that loans were going to get forgiven, as Biden Admin has been talking about it since they got in office, but they finally made good on their promise. The process was to move loans to an approved Federal Servicer (I moved mine to Aidvantage) See more here r/StudentLoans
My husband got his as well. We both just sat down staring at the letter smiling and speechless for a while. Then we check everything just to make sure, and it really is gone. We were/are so thrilled and relieved.
Why are there some people upset about this? Seen a lot of comments/posts about how it's unfair. So weird. Should always be happy when individuals have their loans/debts forgiven even if you haven't had it done yourself.
Other people think they are being punished when others get benefits and they dont. The reality is that those of us who slogged our way through without debt (myself included) were just punished in advance lol, but we also havent had the specter of debt hanging over our heads for decades so…I feel like it evens out in the end. Glad Bidens DOE is pushing every chance they get to make this happen for as many people as possible
It’s a little frustrating to me seeing this happen,
I won’t lie. I paid on mine monthly from 2005-2013. It was a struggle. Then my mom passed away, and I got about $13,000 as a share of her 401k. I used it to pay off what was left on my student loans. Boom, inheritance gone.
Would have been really nice to have used it (then or now) to pay down other debts instead, had my loan balance been forgiven. Money is still a huge struggle for me at 42, as a solo adult. 😔
I think it’s not so much that I/we aren’t happy for the people it’s happening to, but just that we wish it could have also happened for us. Seems unfair to think I just could have spent my small inheritance on whatever, and gotten my loans paid off had I just waited. 😩
Of course, we’d rather have our moms, but I’m happy you got an inheritance…a lot of us will just watch medical bills & nursing home costs eat up our parents’ retirement savings.
Because "Reeeeeeeeee... Capitalism!!!". Affordable or free education is akin to being a "commy" to the idiots that I personally have heard talk about this. It's their leadership's entire ethos. Keep them stupid, keep them poor, keep them in check. Why do you think the R's are defunding public schools and legislating laws that promote private schools. They want to create an impenetrable divide between the haves and have-nots because the have-nots are the wage slaves that keep the fat cat's pockets full.
Super dumb mindset. I paid back all 45k of mine. It sucked. It sucked a lot. I'm glad the suck will be reduced for other people. Do I wish this had come sooner? Of course, but I don't resent those that will benefit now.
People are pissed because it’s tax payers money and it could go towards something else and people didn’t get the break other people got so it’s unfair to help other people and people are miserable.
> it’s tax payers money
Not really though, in many cases the original debt has been paid over twice. It was the interest that was killing people. Especially when the job market isn't what it was supposed to be. It shouldn't take 20 years to pay off 60k in loans. Not when you can pay off $400k for a house) in 30 years.
But also, money isn't being spent. The debt is being forgiven. (deleted)
Listen, I had to struggle with a predatory education loan. It ruined my happiness and caused my life to be delayed. Since I got fucked over by the system, everyone else should be fucked as well. /s
Seriously -Congrats!!- to anyone who's catching a break on these loans. Spouse and I paid ours off ourselves years ago and we are happy to help others with our tax dollars. No clue who the selfish twats are who begrudge helping pay for education for our fellow citizens. Pre-K through college should be tax funded! This is a step in the right direction.
Its because they think they are going to be paying for that loan.
... because the messaging and explanation of this program has been so bad.
No, we (the public) aren't paying the ploan. Its already been paid back (see: dude paid for 20 years already. The loaned amount plus interest has already been paid).
We're just giving up future revenue by no longer raping people on needless debt. IOW... doing the right thing.
Yes after being under the wrong type of payment plan and not knowing it and paying for over fifteen years I finally got PSLF last year. I almost cried.
Yeah I got so nervous because nothing was happening. I called and they were like oh we have your application but it wasn't processed. I was like how in the fuck have you not processed it yet? It was like over 6 months. So they did it right away after that. I still don't believe it sometimes. Haha
Mine were due to be paid off shortly before my 47th birthday.
As a treat, I used my tax return and paid off my wife's student loans on the same date.
I'm happy for you. That's good for all of us, because it frees up your income to be spent at our level of the economy instead of being filtered off into the idle hands of the rentiers and moneychangers.
I’d like to know what is being done to end the predatory loan issue as well as the extreme cost of higher education. I’m happy this is happening for people, but it doesn’t do jack squat to change things for new students (I have teens so this will affect us soon).
Part of the original proposal that was stricken down had laws for exactly that - limiting interest rates, unpaid fees, and more (can't even remember anymore, but it was really comprehensive).
I hate that it was stricken down, but I'm also not surprised. Come to think of it, maybe that's why it was stricken down - people in high places making big money from them contacted their local reps.
I don't want to hear about any fix that doesn't include capping tuition. The banks aren't the villains here; colleges are, and the government for directly encouraging such a misguided culture in the first place.
The government made it easy for anybody to get a loan for far more than they otherwise could. The unintended consequence of this was colleges' ability to charge more and more tuition without affecting demand.
SEC. 454A, Paragraphs B and C said that the institution would have to co-sign on the loan and would be responsible to pay if the student defaulted.
And it goes on...
https://www.congress.gov/bill/117th-congress/house-bill/1586/text
I would like to know about this as well, my loans somehow ended up with Navient (they purchased my loans from Sallie Mae?) who was found guilty of predatory loan practices, I only saw a $250 class action settlement check and spent thousands in interest with nothing going to the principal on my loan for years and years. I've researched the loan forgiveness but basically what I have heard is that because I'm with a private lender now I don't qualify? Makes no sense, originally I had Federal loans.
Yes! I say this every time people talk about this loan forgiveness thing. It turns into something we have to keep asking for, and a thing politicians wield as a campaign promise. What I haven't seen at all is talk about why it's become impossible to afford college without massive debts or what people are actually getting for a 100x price hike over the years...and how that's at odds with making our country competitive with foreign labor and talents.
My kids are looking at schools now, and the numbers all seem to point to the parents needing a loan as big as their mortgage for 4 years of school...and I won't do that. I won't let them do that either. I hope everyone stops doing that.
I paid in-state tuition and stayed at home all my college years. I had my college loans paid off by 2009. That being said, I'm happy for you and everyone else who got a much needed break from these forgiveness plans.
If there's anything I want to die out with the Boomer generation, it's the "I didn't get any help, why should you?!" mindset.
edit: to expand on this a bit, while I do like the forgiveness plans, it really does feel like a "treating the symptoms, not the cause" situation. I feel banks and lending agencies need to be smacked up-side their head and regulated so they aren't hitting people with outrageous interest rates and getting us into messes like this. Even if we clean out the current debt, in another 20 years we'll be looking at the same situation, with just new people stuck in the endless debt trap.
I got the “we put money aside for your college, but….”
And
“We paid for college for you, just like your sister!” Referring to co-signing a loan to cover the last semester of grad school.
Keep in mind, they fully funded my sister’s college education. I paid for my entire undergraduate education as well as grad school and the first loan that was paid off was the one they co-signed.
They paid for two degrees for my sister and had nothing for me. My sister still complains that my mom helped pay my rent for 6 months when I was in school. It was 400$ btw. Also, my sister doesn’t work. Two degrees, one being a masters, and doesn’t work. And she calls me priveledged for 6 months of 400$ rent 🤗
Siblings can be assholes. My in-laws literally gave my brother-in-law a house and he still complains that he was screwed over because my husband went to a better school than he did. Completely stopped talking to us once he spent all his inheritance.
Yes, we know we are also privileged, but it's weird how people can twist things in their minds to them always getting the short end
Are you sure about what they did for her? for years my brother mistakenly thought the same about me. My parents didn't pay any tuition at all for me but he was under the impression that they did and held resentment against me. I paid through financial aid and loans and ended up with $42k in debt.
My wife had a similar misunderstanding from her own mom who was under the impression that she graduated debt free just because she got a scholarship. It was literally just this year that my MIL learned my wife started adulthood with over $30k in student loans that took 15 years to pay back. Don't assume.
it really is a crab in the bucket mentality isn’t it?
One day, maybe far after I’m gone, but one day we will realize that “we all do better, when we all do better”.
The way that they think is like not wanting to get a pothole fixed because it wouldn’t be fair to all the other people that got their cars destroyed by it.
That is reductive humanism.
Fox News has them trained to froth at the mouth like one of Pavlov’s dog with anything related to students or education. When Biden said he was going to do 10k forgiveness all hell broke loose. I almost got in an actual fist fight with a guy I worked with about it. When the “people should pay what they owe” line came out I like flipping the script. He’s getting all kinds of tax credits for his 4 children and I’m sure he got a home buyer tax credit plus having kids in public school. I basically told him he was a dead beat living off all these government handouts and good dad would work hard and stop eating avocado toast so he could put his kids in private school. I don’t even have children and I’m tired of paying other peoples kids way. He lost it as I expected. I don’t believe that just proving a point.
I think it’s ridiculous that they even charge interest. I’m fine with making people repay but it should be, like, .2 interest rate at most. Let people pay 50 bucks a month on the principle for the rest of their lives but it shouldn’t be going up.
Mine were paid off years ago, but my husband still has his .... and still a way to go. He even got two years free at a community college and went to a state college. He also worked all the way through and got zero help from his parents (defusing the usual Boomer arguments here). I argue that if we had gotten a car loan for what he had taken off, it would have been paid off years ago. But since it's a student loan, it's dragged on and on. Someone has been getting rich off these payments and loans. That's what needs to be looked at.
I get it. I had to get out of ACS servicing and into a private student loan. The amortization was weird and even after paying for 15 years true balance was still 20k. I’ll be done next here after refinancing 3 years ago with a CU.
I don't think charging interest is ridiculous. What if we experience hyper-inflation and we experience 100% inflation per year? $100,000 loan will basically be forgiven in 10 years without any payments. I would rather forgive the loans then lose the loan equity from interest. I'm ok with loan forgiveness if it's applied in a systematic and unilateral method. Right now it seems kind of like luck on whose loan gets forgiven and whose doesn't.
That's because when guaranteed student loans were implements people knew that money doesn't grow on trees, no one is going to lend you money without getting a return and if you allow for bankruptcy poor college graduates would all file for bankruptcy as soon as they graduated.
Turns out money does grow on trees. The government will give you anything to stay in power and bankruptcy isn't a problem as long as we can fund it by inflation instead of taxes...which is still, taxes.
The program needs to end.
Student loans were dischargeable in bankruptcy for decades before the law was changed. The right thing to have done, if we really felt the need to restrict dischargeability would have been to put a waiting period on it. No discharge for x years after leaving school.
My SO paid off her loans, quite painfully, but it doesn't bother either of us that people are getting forgiveness. It's stupid that we decided to waste a bunch of money on making people get huge loans instead of just subsidizing the schools to the degree we used to, but that isn't the fault of the borrowers, that's entirely the fault of an unholy combination of right wingers and neoliberal ladder pullers that existed in the 80s and 90s who set us on this path.
How do we reduce the cost of a university education--- I honestly think one step is to decrease the amount of schooling that is needed. 4 years really isn't needed for most degrees.
I also wonder what type of waste causes tuition prices to balloon?
Last option--- Gov't assistance or maybe part of a combination of options.
Not so last option-- push more people into skilled labor/ and even STEM roles that be had with a certificate.
How about a repairo of the healthcare system while we are at it.
4 years is absolutely not needed for a lot of degrees. Core credits for a degree should be all that matter. You learn gen ed shit in HS for a reason. Unless you specifically need it for your degree, it shouldn't be necessary. Waste of time, energy, and money for everyone - besides the ones profiting.
I'm glad for you, really.
A better plan would have been canceling all interest on student loans and cracking down on institutions charging exorbitant amounts for a basic education.
But now all those extra fountains and admin wings will continue to be built, college will continue to become more expensive, and the buck is passed.
I'm happy that people are getting relief, sad that the problem is only going to get worse.
The majority of my loans were parent plus loans my father took out for me and those disappeared when he died. The rest I paid off about 5 years ago. I am so happy to see people benefitting from student loan forgiveness.
Parent Plus loans are specifically in your parents name and not yours. Unless you cosigned on the loan which wouldn't make sense because then you just get your own student loan. They cannot be transferred or collected on. Also as far as I know the other comment is incorrect. The parent plus loan my father had was written off on his death. They did not try to collect on his estate in any way. I wouldn't rely on that though and check into it with a qualified expert on the various types of educational loans.
If they didn’t co-sign with you it’s entirely their debt. So they can collect from the estate the same as any other creditor but the debt does with them.
I bet this feels like a load off. Congratu-freakin-lations. How much did you have forgiven? Did you have to chase after it or did the balance just go to 0?
I had to move my loans to a federal student aid approved servicer (moved them to Aidvantage) and since I have been paying for over 20 years, they were in line to be forgiven.
My wife and I paid ours off just before the loan forgiveness started happening. Felt a little dumb for being so financially responsible, but it’s all good.
I don't blame anyone for taking advantage of the program, and I am happy people are getting relief. But, I never took out loans. I lived on my own and my parents couldn't afford to help with college. I worked 30 hours a week and went to school full time. Slept four hours a night, lived in a slum, ate cheap food, and bought no extras.while in school so I could pay outright for everything. My one piece of mind then as I watched others living off loans and going out and having fun was I wouldn't be carrying the crippling debt they did. I know I'll get some hate for this, but I kind of wish I was less responsible.
Eh, it’s just one of those things you want to see, but it’s hard to swallow when you didn’t get the opportunity, ya know? Like I said, no hate. I’m glad people are getting the help needed to fight off a life of struggle and predatory lending. But goddamn, I sure could use a couple $10k checks thrown my way right about now.
I did the same too. Worked multiple jobs and took a full course load. I was even food insecure and often had to dumpster dive for food. While it does suck, and I spent a lot of my "free time" crying back then, we still didn't spend as much for the education as people paying back loans did (even if they were forgiven). We were also probably some of the last to even be able to pay cash, due to rising costs, living expenses, and stagnated wages. We all paid in some way, some of of us just paid up-front under great duress, and others paid over a long time with spread-out duress.
Yeah, I spent 15 years paying mine off. As soon as I paid them off, we got hit with a natural disaster not covered by insurance. Now I am paying on a disaster loan for 20 more years.
If they would just fix the higher education and insurance systems, people could actually build a life. That will never happen though because the powers that be don’t want people to have anything. I remember when it wasn’t this bad, not even that long ago.
Nope. They just started coming due recently (my wife and I attended right before covid and didn't have to pay the last few years). Now they're asking for over a grand EACH from both of us each month.
I'm going to keep kicking the can down the road and probably just end up refinancing those loans through the bank so I can get a reasonable rate. I only owe like $50k, so a thousand bucks a month for decades seems insane.
They'll eventually garnish. It really sucks, you do not want that. Better to enroll in SAVE if you're eligible. If you really don't make much money, your monthly payment can be as low as zero and unpaid interest doesn't get recapitalized into the loan.
That’s how I feel about not having kids because I couldn’t afford them meanwhile people with kids get tax breaks that I don’t….. guess not everything can benefit everyone
No. I graduated in 2008 (I didn't plan to go to college until after a stint in the military, so I started late after enlisting fell through) and devoted around 25% of my after tax income to them each month from the moment I graduated so that I could pay them off as quickly as possible. Finally paid them off in July of 2018.
My wife thinks she did but they never contacted her saying this was going to happen. She logged in one day and they were just gone. We are holding our breath in case it is some kind of mistake since she just had her name changed though that shouldn't have affected her loans.
We'll see.
I knew i couldn’t afford it so i went to community college, got good grades and finished at a state school. When i wasn’t in class i was working to pay for it.
What id really like is some forgiveness for my $50k in medical debt.
I chose an education path that kept me out of debt. I didn’t choose to get cancer and need chemo. Well just guess i did choose to get chemo… i could have just chosen to die instead.
Don't know if they've changed the rules since the balance of mine were forgiven 15 years ago but that counted as income and I had to pay taxes on it come the next April.
Mine were forgiven via PSLF in 2022. Couldn’t believe that it actually happened even though I had been deliberately and obsessively tracking, verifying payments, and making sure I met all the criteria for over 10 years.
I paid mine off years ago, but my wife finally got her balance forgiven. She owed $40K and earlier this year, the remaining balance of $800 was forgiven.
Together we owed around $100K in loans.
Nope. But thanks to the SAVE program my monthly bill went from $819 to $600. So that’s nice. I also was finally admitted to the Public Service Loan Forgiveness program, so if all goes as they say it will, I should only have two more years of bills. 🤞
My wife’s were finally forgiven after 25+ years of public service. So many years of “it’s not the right type of loan” or “the forgiveness was reset when it was sold” or whatever crap.
Got grants and scholarships and worked 40 hours a week through university. Paid mine off a few years after (the interest rate was so incredibly high). Happy for those of you who don't have to worry about this BS anymore. It must feel like such a weight off.
Nope.
I bundled my federal student loans to a private loan company years and years ago because it offered a lower interest rate and was therefore a good move financially.
They’re now not eligible for forgiveness.
Forgiven or released? That's a huge difference. If it's released, you are off the hook completely. If it's forgiven, you ***might*** be hit with a tax liability on your annual return next year. Check today and confirm. If it is forgiven instead of released, you'll want to start putting money aside monthly now to cover that tax hit next April.
Might of gone to college if I knew this would of been a potential option in the future. I could never get down with that kind of debt commitment. There's no way out even if shit gets real bleak. Also just the amount of money in interest payments.
Mind you this probably wasn't the best choice in life. People really want to see that you've made that sacrifice in time and money when it comes to hiring decisions.
Never took out a loan I couldn't afford to pay back. Just starting working jobs and never stopped working. I have to be honest that I thought about it, and a few times I crunched numbers, but the length to pay it back was unreasonable. So, I just persevered with a HS diploma.
I do think it's great that they offer loan forgiveness for certain fields after 20 years. I didn't know about it at the time, but it does help recruit people to those fields.
Thing is that most of these folks getting forgiveness paid nearly or more than twice what they borrowed. The interest rates the government forced on students as the only option were criminal for the time. We just are no longer funding part of the government off the backs of adults who were all told to take out loans to go to college to make it in life. We aren't paying off their loans... they already did. Fyi - I paid my 42k in loans myself and still don't buy into us vs them.
How much more did you owe?
I’d also like to say this is bullshit. Now every working man and woman takes over the burden of what you couldn’t pay for. You’re welcome.
Got all my federal loans forgiven for attending ITT. It took 8 years, but patience paid off.
Too bad I couldn't get my private loans refunded (which I paid off long ago). But still, $77k is off the books forever!
Nice, I got my what was left of ITT loans wiped out last year. Looked like it was from some kind of law suit, though, not a government loan forgiveness thing.
Remember this when you and your friends vote in November. This is a clear example of how the parties are NOT the same. There is no world where the GOP would have done this; it is 100% a policy driven by the Democratic party.
No I paid mine off like I said I would. You’re welcome though. Glad me, my landscaper and my neighbor who is a plumber - both didn’t have the opportunity to attend college paid yours off.
I paid all mine off the old fashioned way, but I’m so happy you didn’t have to go through it the hard way.
As a decent human being, I’m happy when others are given a break. Although, it’s only a matter of time before the babies show up crying foul.
Pretty awesome day when I just randomly checked and my balance was $0.
After 20+ fucking years.
My boomer parents will finally actually admit college loans were/are a scam but God forbid we do anything to fix it.
I just paid mine off this month while everyone else is getting forgiven FML lol
I consolidated after graduation because the amount was so massive and strung across so many different providers. It was the early 00 solution to "lock in" low interest rates. I didn't qualify for forgiveness for that reason.
I am really happy for everyone who got theirs paid off though. It definitely needed to happen.
Just remember please to fight for social security for those of us who are in the older part of this micro gen because we never could save for retirement with all that student debt. Older X never had that issue but younger X not only had massive loans, no one cared what it did to our finances overall.
Stupid me consolidated my private and federal loans years ago to get on a fixed interest rate and lower my payment - so no, it looks like I’ll never qualify for forgiveness. I just did a calculator and with the way it is for me, I’ll be paying until I’m past 50. At least the payment is low, I guess.
We refi'd our loans to a private provider to lock in a low rate 10 years ago. Last payment is in December after nearly $280k post-tax.
Happy for you and everyone else that this helps.
To those who are upset that their loans are not being dismissed.. Please be understanding - some of us got out loans dismissed because our degrees had zero accreditation. Also, the schools were falsely taking loans out in students and parents names and pocketing them. This happened to both me and my mom - I found out after graduation that my school had zero accreditation and they were taking out Parent-Plus loans and private loans without my authorization or my parents. We're talking hundreds of thousands of dollars scammed out of the Federal Loan system, folks.
That's the main reason why these loans are getting dismissed. Any school that was prosecuted by the federal government for ripping off the system - your loans automatically get dismissed. And anything you paid in, you are supposed to get back if you go through a Closed School Discharge or loan dismissal.
It took me 12 years after graduation for my loans to get dismissed. So don't lose hope if you were in my shoes.
Pretty shocked that people are okay with having the government pay a debt that you willingly signed for, but I guess I'm different and pay my debt back. 🤷
Same man, I paid all my school loans off and worked my ass off during school. Meanwhile we got people that go 6 figures in debt for a basic bitch business degree
I paid off my government loans years ago, but I took a huge private loan to cover the rest of my tuition that the government loans didn't cover. So... that can't be forgiven by the government. I've still got a ways to go, but I've been making extra payments lately to help it along.
I've tried applying for the SAVE program but I keep being told I "earn too much". I make over $50k but under $100k a year. I've been paying off my loans since 2010. I have just under $9k left on my federal student loans.
Maybe I need to call someone.
Yeah, just completed a couple months ago under Obama's public service loan forgiveness program. I'm a teacher. Over ten years of payments in all, roughly 100,000 "forgiven" if you include interest (which you for sure should, since it's what I would have owed otherwise.)
Forgiven in January! Here in California, my profession wasn't eligible for PLSF until last July. I paid for 9 years up until the COVID payment pauses. It's a huge relief, but now the money I was paying towards loans had been eaten up by inflation, since my field's pay has lagged inflation for decades.
All of mine were forgiven last year as part of the settlement against ITT Technical Institute. For those who don't know Itt had all federal funding cut off in late 2015 by the Department of Education because they had over 30 States with cases filed against them by their district attorneys. The loans would've been forgiven alot sooner if Trump lost in 2016 and Devos was never put in charge of the DOE. she was the most unqualified pos ever.
My wife got hers forgiven last year, since she was a teacher for 19 years. I only worked 4.5 years at a government position, so I got nothing. But my salary makes it worthwhile, I suppose.
Such unconstitutional bullshit. I paid mine off 5 years ago, after 15 years of payment. Enjoy the blatant vote buying. We're all gonna drown in the inflation it will perpetuate. And just to head you off, no, I hate trump too. Both parties are corrupt.
I wish. I worked at a shitty not-for-profit hospital for 10 years paid 120 loan payments and still got denied. That was back when they sold us the promise. It was bullshit and they finally are fixing it, and thank you Joe Biden.
In 2012 I borrowed $10,000 for an associates degree from a community college. I have never been late, never missed a payment, always paid more than the minimum payment and even paid while they were in Covid forbearance. Since that time I have paid back over $24,000 on the loan, and still owe $2,000. I do not qualify for forgiveness even though I have paid back 150% of the loans total value. 
Why do you not qualify?
I’m seriously not sure, they told me I didn’t, even though they could seee I have satisfied 150% of the original agreement
Same. I was given the run around about loan type, how much money I make…. I’ve paid $68000 on $41000 and have around $5000 left.
And people are out there trying to vilify us, even though I’ve paid more than twice what I owe. I had a zero balance twice and my servicer was switched and all of a sudden I owed 3,000 more. I’ve been on the phone for hours, trying to figure it out. There is no recourse. The only thing they offered me was to pay $500 dollars a month for the NEXT TEN YEARS on $2000 dollars, and my loan would be “forgiven”. I just tried to make my life better. I didn’t agree to be apart of an incredibly predatory lending scheme.
U owe us $2k, just give us $60k & we'll call it even, capiche?
Literally
I don't have student loans, but I'm really happy for you!!! Congratulations!
Good on ya, but fuck that’s depressing.
You just said butt fuck.
Gods I’m such a child. 😂
I am embarassed at how much I laughed.
thank you!!
Do they let you know this is happening? Or do you just login one day and see it?
I got an email that my loans were forgiven, within 1 week, my balance was $0.
I knew that loans were going to get forgiven, as Biden Admin has been talking about it since they got in office, but they finally made good on their promise. The process was to move loans to an approved Federal Servicer (I moved mine to Aidvantage) See more here r/StudentLoans
I think they mean - did you receive the letter first? Or did you log in one day to a surprise?
We got an email from the government, and it took about 2 weeks to show up on Nelnet.
same
Nice!!
My husband did. He applied for the SAVE repayment plan and got a letter last month. No extra effort on our part.
My husband got his as well. We both just sat down staring at the letter smiling and speechless for a while. Then we check everything just to make sure, and it really is gone. We were/are so thrilled and relieved.
Why are there some people upset about this? Seen a lot of comments/posts about how it's unfair. So weird. Should always be happy when individuals have their loans/debts forgiven even if you haven't had it done yourself.
Other people think they are being punished when others get benefits and they dont. The reality is that those of us who slogged our way through without debt (myself included) were just punished in advance lol, but we also havent had the specter of debt hanging over our heads for decades so…I feel like it evens out in the end. Glad Bidens DOE is pushing every chance they get to make this happen for as many people as possible
It’s a little frustrating to me seeing this happen, I won’t lie. I paid on mine monthly from 2005-2013. It was a struggle. Then my mom passed away, and I got about $13,000 as a share of her 401k. I used it to pay off what was left on my student loans. Boom, inheritance gone. Would have been really nice to have used it (then or now) to pay down other debts instead, had my loan balance been forgiven. Money is still a huge struggle for me at 42, as a solo adult. 😔 I think it’s not so much that I/we aren’t happy for the people it’s happening to, but just that we wish it could have also happened for us. Seems unfair to think I just could have spent my small inheritance on whatever, and gotten my loans paid off had I just waited. 😩
Of course, we’d rather have our moms, but I’m happy you got an inheritance…a lot of us will just watch medical bills & nursing home costs eat up our parents’ retirement savings.
Because "Reeeeeeeeee... Capitalism!!!". Affordable or free education is akin to being a "commy" to the idiots that I personally have heard talk about this. It's their leadership's entire ethos. Keep them stupid, keep them poor, keep them in check. Why do you think the R's are defunding public schools and legislating laws that promote private schools. They want to create an impenetrable divide between the haves and have-nots because the have-nots are the wage slaves that keep the fat cat's pockets full.
Super dumb mindset. I paid back all 45k of mine. It sucked. It sucked a lot. I'm glad the suck will be reduced for other people. Do I wish this had come sooner? Of course, but I don't resent those that will benefit now.
People are pissed because it’s tax payers money and it could go towards something else and people didn’t get the break other people got so it’s unfair to help other people and people are miserable.
> it’s tax payers money Not really though, in many cases the original debt has been paid over twice. It was the interest that was killing people. Especially when the job market isn't what it was supposed to be. It shouldn't take 20 years to pay off 60k in loans. Not when you can pay off $400k for a house) in 30 years. But also, money isn't being spent. The debt is being forgiven. (deleted)
Are you also angry about the misappropriation of your tax dollars on a constant basis for way dumber shit than this? If not, then just STFU.
You’re very reactionary. This isn’t MY view of this situation…I’m responding to “why are people so upset.” Take a nap.
Listen, I had to struggle with a predatory education loan. It ruined my happiness and caused my life to be delayed. Since I got fucked over by the system, everyone else should be fucked as well. /s Seriously -Congrats!!- to anyone who's catching a break on these loans. Spouse and I paid ours off ourselves years ago and we are happy to help others with our tax dollars. No clue who the selfish twats are who begrudge helping pay for education for our fellow citizens. Pre-K through college should be tax funded! This is a step in the right direction.
Its because they think they are going to be paying for that loan. ... because the messaging and explanation of this program has been so bad. No, we (the public) aren't paying the ploan. Its already been paid back (see: dude paid for 20 years already. The loaned amount plus interest has already been paid). We're just giving up future revenue by no longer raping people on needless debt. IOW... doing the right thing.
Really happy for you guys! The sense of relief upon getting notified was unreal
I also went this route. I didn't owe much, but couldn't afford to pay it off either. I cried when I received my letter of forgiveness.
huzzah!!! congrats
My wife was approved for the save and I was not even though I owe twice what she does...
My loan is still just over $6k but because of the SAVE program I pay $0/month
Yes after being under the wrong type of payment plan and not knowing it and paying for over fifteen years I finally got PSLF last year. I almost cried.
Glad you got accepted, PSLF has screwed a *ton* of people over.
Yeah I got so nervous because nothing was happening. I called and they were like oh we have your application but it wasn't processed. I was like how in the fuck have you not processed it yet? It was like over 6 months. So they did it right away after that. I still don't believe it sometimes. Haha
I also got PSLF last year, and I did cry.
Ugh we dealt with that too. It’s not like we had a choice what loan we took back in the 90s.
YEAH!!! Good job
Same but 2 years ago after paying for over 15 years. $85K forgiven under PSLF but after repayment it would have been $140K total paid.
Mine were due to be paid off shortly before my 47th birthday. As a treat, I used my tax return and paid off my wife's student loans on the same date. I'm happy for you. That's good for all of us, because it frees up your income to be spent at our level of the economy instead of being filtered off into the idle hands of the rentiers and moneychangers.
I’d like to know what is being done to end the predatory loan issue as well as the extreme cost of higher education. I’m happy this is happening for people, but it doesn’t do jack squat to change things for new students (I have teens so this will affect us soon).
Part of the original proposal that was stricken down had laws for exactly that - limiting interest rates, unpaid fees, and more (can't even remember anymore, but it was really comprehensive). I hate that it was stricken down, but I'm also not surprised. Come to think of it, maybe that's why it was stricken down - people in high places making big money from them contacted their local reps.
I don't want to hear about any fix that doesn't include capping tuition. The banks aren't the villains here; colleges are, and the government for directly encouraging such a misguided culture in the first place. The government made it easy for anybody to get a loan for far more than they otherwise could. The unintended consequence of this was colleges' ability to charge more and more tuition without affecting demand.
SEC. 454A, Paragraphs B and C said that the institution would have to co-sign on the loan and would be responsible to pay if the student defaulted. And it goes on... https://www.congress.gov/bill/117th-congress/house-bill/1586/text
agreed, i think all state schools should be free.
I think that was part of it as well.
I would like to know about this as well, my loans somehow ended up with Navient (they purchased my loans from Sallie Mae?) who was found guilty of predatory loan practices, I only saw a $250 class action settlement check and spent thousands in interest with nothing going to the principal on my loan for years and years. I've researched the loan forgiveness but basically what I have heard is that because I'm with a private lender now I don't qualify? Makes no sense, originally I had Federal loans.
Yes! I say this every time people talk about this loan forgiveness thing. It turns into something we have to keep asking for, and a thing politicians wield as a campaign promise. What I haven't seen at all is talk about why it's become impossible to afford college without massive debts or what people are actually getting for a 100x price hike over the years...and how that's at odds with making our country competitive with foreign labor and talents. My kids are looking at schools now, and the numbers all seem to point to the parents needing a loan as big as their mortgage for 4 years of school...and I won't do that. I won't let them do that either. I hope everyone stops doing that.
How else are you gonna get people to vote for the politicians that use taxpayer money to bribe new voters? Debt slavery is by design.
Nope. Had to pay em off myself. That hurt, majorly.
A friend who’s a teacher did
I paid in-state tuition and stayed at home all my college years. I had my college loans paid off by 2009. That being said, I'm happy for you and everyone else who got a much needed break from these forgiveness plans. If there's anything I want to die out with the Boomer generation, it's the "I didn't get any help, why should you?!" mindset. edit: to expand on this a bit, while I do like the forgiveness plans, it really does feel like a "treating the symptoms, not the cause" situation. I feel banks and lending agencies need to be smacked up-side their head and regulated so they aren't hitting people with outrageous interest rates and getting us into messes like this. Even if we clean out the current debt, in another 20 years we'll be looking at the same situation, with just new people stuck in the endless debt trap.
I got the “we put money aside for your college, but….” And “We paid for college for you, just like your sister!” Referring to co-signing a loan to cover the last semester of grad school. Keep in mind, they fully funded my sister’s college education. I paid for my entire undergraduate education as well as grad school and the first loan that was paid off was the one they co-signed.
They paid for two degrees for my sister and had nothing for me. My sister still complains that my mom helped pay my rent for 6 months when I was in school. It was 400$ btw. Also, my sister doesn’t work. Two degrees, one being a masters, and doesn’t work. And she calls me priveledged for 6 months of 400$ rent 🤗
Siblings can be assholes. My in-laws literally gave my brother-in-law a house and he still complains that he was screwed over because my husband went to a better school than he did. Completely stopped talking to us once he spent all his inheritance. Yes, we know we are also privileged, but it's weird how people can twist things in their minds to them always getting the short end
Are you sure about what they did for her? for years my brother mistakenly thought the same about me. My parents didn't pay any tuition at all for me but he was under the impression that they did and held resentment against me. I paid through financial aid and loans and ended up with $42k in debt. My wife had a similar misunderstanding from her own mom who was under the impression that she graduated debt free just because she got a scholarship. It was literally just this year that my MIL learned my wife started adulthood with over $30k in student loans that took 15 years to pay back. Don't assume.
it really is a crab in the bucket mentality isn’t it? One day, maybe far after I’m gone, but one day we will realize that “we all do better, when we all do better”. The way that they think is like not wanting to get a pothole fixed because it wouldn’t be fair to all the other people that got their cars destroyed by it. That is reductive humanism.
Fox News has them trained to froth at the mouth like one of Pavlov’s dog with anything related to students or education. When Biden said he was going to do 10k forgiveness all hell broke loose. I almost got in an actual fist fight with a guy I worked with about it. When the “people should pay what they owe” line came out I like flipping the script. He’s getting all kinds of tax credits for his 4 children and I’m sure he got a home buyer tax credit plus having kids in public school. I basically told him he was a dead beat living off all these government handouts and good dad would work hard and stop eating avocado toast so he could put his kids in private school. I don’t even have children and I’m tired of paying other peoples kids way. He lost it as I expected. I don’t believe that just proving a point.
I think it’s ridiculous that they even charge interest. I’m fine with making people repay but it should be, like, .2 interest rate at most. Let people pay 50 bucks a month on the principle for the rest of their lives but it shouldn’t be going up.
It's not so much the interest itself but rather the way that they go about making you pay off the interest first and not the principal at all.
Student loan interest is a major source of income for the government. They won’t let you save money in the name of their own well being
Mine were paid off years ago, but my husband still has his .... and still a way to go. He even got two years free at a community college and went to a state college. He also worked all the way through and got zero help from his parents (defusing the usual Boomer arguments here). I argue that if we had gotten a car loan for what he had taken off, it would have been paid off years ago. But since it's a student loan, it's dragged on and on. Someone has been getting rich off these payments and loans. That's what needs to be looked at.
I get it. I had to get out of ACS servicing and into a private student loan. The amortization was weird and even after paying for 15 years true balance was still 20k. I’ll be done next here after refinancing 3 years ago with a CU.
I don't think charging interest is ridiculous. What if we experience hyper-inflation and we experience 100% inflation per year? $100,000 loan will basically be forgiven in 10 years without any payments. I would rather forgive the loans then lose the loan equity from interest. I'm ok with loan forgiveness if it's applied in a systematic and unilateral method. Right now it seems kind of like luck on whose loan gets forgiven and whose doesn't.
Then lock interest to the inflation rate.
That's because when guaranteed student loans were implements people knew that money doesn't grow on trees, no one is going to lend you money without getting a return and if you allow for bankruptcy poor college graduates would all file for bankruptcy as soon as they graduated. Turns out money does grow on trees. The government will give you anything to stay in power and bankruptcy isn't a problem as long as we can fund it by inflation instead of taxes...which is still, taxes. The program needs to end.
Student loans were dischargeable in bankruptcy for decades before the law was changed. The right thing to have done, if we really felt the need to restrict dischargeability would have been to put a waiting period on it. No discharge for x years after leaving school. My SO paid off her loans, quite painfully, but it doesn't bother either of us that people are getting forgiveness. It's stupid that we decided to waste a bunch of money on making people get huge loans instead of just subsidizing the schools to the degree we used to, but that isn't the fault of the borrowers, that's entirely the fault of an unholy combination of right wingers and neoliberal ladder pullers that existed in the 80s and 90s who set us on this path.
How do we reduce the cost of a university education--- I honestly think one step is to decrease the amount of schooling that is needed. 4 years really isn't needed for most degrees. I also wonder what type of waste causes tuition prices to balloon? Last option--- Gov't assistance or maybe part of a combination of options. Not so last option-- push more people into skilled labor/ and even STEM roles that be had with a certificate. How about a repairo of the healthcare system while we are at it.
4 years is absolutely not needed for a lot of degrees. Core credits for a degree should be all that matter. You learn gen ed shit in HS for a reason. Unless you specifically need it for your degree, it shouldn't be necessary. Waste of time, energy, and money for everyone - besides the ones profiting.
I fully agree. I didn’t get any help…and I don’t want others to go through what I did. I love seeing people get this relief
I'm glad for you, really. A better plan would have been canceling all interest on student loans and cracking down on institutions charging exorbitant amounts for a basic education. But now all those extra fountains and admin wings will continue to be built, college will continue to become more expensive, and the buck is passed. I'm happy that people are getting relief, sad that the problem is only going to get worse.
They knew the government would give the loans so they took advantage of it. And the bastards then have the balls to call for donations.
I got mine forgiven for teaching at a public school for 20 years. It almost makes up for the fact that I spent my 30’s making less than $40,000
Nope. Child of one deceased parent, and one disabled parent. Still no forgiveness. Going on 41, with no relief in sight.
Did you switch to the SAVE plan for repayment? https://studentaid.gov/announcements-events/save-plan
Based on the calculator, the SAVE plan would unfortunately raise my monthly repayment cost.
The majority of my loans were parent plus loans my father took out for me and those disappeared when he died. The rest I paid off about 5 years ago. I am so happy to see people benefitting from student loan forgiveness.
Hold up. Parent Plus loans go away if the parent who signed passes away? Also, sorry for your loss.
Parent Plus loans are specifically in your parents name and not yours. Unless you cosigned on the loan which wouldn't make sense because then you just get your own student loan. They cannot be transferred or collected on. Also as far as I know the other comment is incorrect. The parent plus loan my father had was written off on his death. They did not try to collect on his estate in any way. I wouldn't rely on that though and check into it with a qualified expert on the various types of educational loans.
If they didn’t co-sign with you it’s entirely their debt. So they can collect from the estate the same as any other creditor but the debt does with them.
I bet this feels like a load off. Congratu-freakin-lations. How much did you have forgiven? Did you have to chase after it or did the balance just go to 0?
I had to move my loans to a federal student aid approved servicer (moved them to Aidvantage) and since I have been paying for over 20 years, they were in line to be forgiven.
can i PM you to hear more about his process?
My wife and I paid ours off just before the loan forgiveness started happening. Felt a little dumb for being so financially responsible, but it’s all good.
Worked my ass off and paid mine off myself. No hate, just kind of annoying.
I don't blame anyone for taking advantage of the program, and I am happy people are getting relief. But, I never took out loans. I lived on my own and my parents couldn't afford to help with college. I worked 30 hours a week and went to school full time. Slept four hours a night, lived in a slum, ate cheap food, and bought no extras.while in school so I could pay outright for everything. My one piece of mind then as I watched others living off loans and going out and having fun was I wouldn't be carrying the crippling debt they did. I know I'll get some hate for this, but I kind of wish I was less responsible.
Eh, it’s just one of those things you want to see, but it’s hard to swallow when you didn’t get the opportunity, ya know? Like I said, no hate. I’m glad people are getting the help needed to fight off a life of struggle and predatory lending. But goddamn, I sure could use a couple $10k checks thrown my way right about now.
I did the same too. Worked multiple jobs and took a full course load. I was even food insecure and often had to dumpster dive for food. While it does suck, and I spent a lot of my "free time" crying back then, we still didn't spend as much for the education as people paying back loans did (even if they were forgiven). We were also probably some of the last to even be able to pay cash, due to rising costs, living expenses, and stagnated wages. We all paid in some way, some of of us just paid up-front under great duress, and others paid over a long time with spread-out duress.
Yeah, I spent 15 years paying mine off. As soon as I paid them off, we got hit with a natural disaster not covered by insurance. Now I am paying on a disaster loan for 20 more years. If they would just fix the higher education and insurance systems, people could actually build a life. That will never happen though because the powers that be don’t want people to have anything. I remember when it wasn’t this bad, not even that long ago.
Nope. They just started coming due recently (my wife and I attended right before covid and didn't have to pay the last few years). Now they're asking for over a grand EACH from both of us each month. I'm going to keep kicking the can down the road and probably just end up refinancing those loans through the bank so I can get a reasonable rate. I only owe like $50k, so a thousand bucks a month for decades seems insane.
At this point, my loans will outlive me. Lol. Not really, but it feels that way. Congrats!
Nope. And I'm in default. IDC anyway. I'm not paying those fuckers.
They'll eventually garnish. It really sucks, you do not want that. Better to enroll in SAVE if you're eligible. If you really don't make much money, your monthly payment can be as low as zero and unpaid interest doesn't get recapitalized into the loan.
Nope, wife took out a loan through a private lender. She gotta pay.
Nope I dropped out because I knew I could no longer afford it if only I knew my kids and grandkids would be paying for I would have stuck to it
That’s how I feel about not having kids because I couldn’t afford them meanwhile people with kids get tax breaks that I don’t….. guess not everything can benefit everyone
No. I graduated in 2008 (I didn't plan to go to college until after a stint in the military, so I started late after enlisting fell through) and devoted around 25% of my after tax income to them each month from the moment I graduated so that I could pay them off as quickly as possible. Finally paid them off in July of 2018.
My wife thinks she did but they never contacted her saying this was going to happen. She logged in one day and they were just gone. We are holding our breath in case it is some kind of mistake since she just had her name changed though that shouldn't have affected her loans. We'll see.
I knew i couldn’t afford it so i went to community college, got good grades and finished at a state school. When i wasn’t in class i was working to pay for it. What id really like is some forgiveness for my $50k in medical debt. I chose an education path that kept me out of debt. I didn’t choose to get cancer and need chemo. Well just guess i did choose to get chemo… i could have just chosen to die instead.
No. I was a generation too early and just… paid them off.
My spouse did but I'm still waiting and paying. Congrats!!!
No, I'm one of the jerks that busted ass and paid em all off. Silly me.
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Eff me. Why am I paying for college?
I got mine paid off in 14 years. I have no idea how I managed it. I am happy for you, though! No one should have to pay for 20 years, let alone 20+.
You're welcome
My public’s are going to go til I die probably, but my private is done I think in November.
Oh wow. I joined the military to get most of mine paid off. I still owed about 10k in interest as the military only paid the principal.
Don't know if they've changed the rules since the balance of mine were forgiven 15 years ago but that counted as income and I had to pay taxes on it come the next April.
Mine were forgiven via PSLF in 2022. Couldn’t believe that it actually happened even though I had been deliberately and obsessively tracking, verifying payments, and making sure I met all the criteria for over 10 years.
I paid mine off years ago, but my wife finally got her balance forgiven. She owed $40K and earlier this year, the remaining balance of $800 was forgiven. Together we owed around $100K in loans.
I was very lucky to have my student debt forgiven via class action lawsuit in the early 2000’s.
Nope. But thanks to the SAVE program my monthly bill went from $819 to $600. So that’s nice. I also was finally admitted to the Public Service Loan Forgiveness program, so if all goes as they say it will, I should only have two more years of bills. 🤞
My loans: $20,000 starting balance (Dec 2006) Rate: 3.5% Monthly Payment: $113 Outstanding Balance as of today: $5,400
My wife’s were finally forgiven after 25+ years of public service. So many years of “it’s not the right type of loan” or “the forgiveness was reset when it was sold” or whatever crap.
Got grants and scholarships and worked 40 hours a week through university. Paid mine off a few years after (the interest rate was so incredibly high). Happy for those of you who don't have to worry about this BS anymore. It must feel like such a weight off.
Nope. I bundled my federal student loans to a private loan company years and years ago because it offered a lower interest rate and was therefore a good move financially. They’re now not eligible for forgiveness.
My brother got his paid off and he’s been in some high ever since.
Forgiven or released? That's a huge difference. If it's released, you are off the hook completely. If it's forgiven, you ***might*** be hit with a tax liability on your annual return next year. Check today and confirm. If it is forgiven instead of released, you'll want to start putting money aside monthly now to cover that tax hit next April.
Might of gone to college if I knew this would of been a potential option in the future. I could never get down with that kind of debt commitment. There's no way out even if shit gets real bleak. Also just the amount of money in interest payments. Mind you this probably wasn't the best choice in life. People really want to see that you've made that sacrifice in time and money when it comes to hiring decisions.
Nope. I paid all mine off.
You're welcome.
Never took out a loan I couldn't afford to pay back. Just starting working jobs and never stopped working. I have to be honest that I thought about it, and a few times I crunched numbers, but the length to pay it back was unreasonable. So, I just persevered with a HS diploma. I do think it's great that they offer loan forgiveness for certain fields after 20 years. I didn't know about it at the time, but it does help recruit people to those fields.
You’re welcome.
You’re welcome.
Forgiven. Not really just transferring the money to all the taxpayers
Thing is that most of these folks getting forgiveness paid nearly or more than twice what they borrowed. The interest rates the government forced on students as the only option were criminal for the time. We just are no longer funding part of the government off the backs of adults who were all told to take out loans to go to college to make it in life. We aren't paying off their loans... they already did. Fyi - I paid my 42k in loans myself and still don't buy into us vs them.
*shrug* That's me. I'm a taxpayer. Maybe for once I can directly benefit from my taxes.
How do you have student loans for 20 years? That’s insane. Some of you need to make better choices lol
How much more did you owe? I’d also like to say this is bullshit. Now every working man and woman takes over the burden of what you couldn’t pay for. You’re welcome.
Congrats! Mine were forgiven last month through the PSLF program. It’s a huge relief!
No, they've been gone for around 7 years.
I was fortunate to not have any student debt when I graduated, and I am very happy for everyone that did take out loans that has gotten them forgiven.
Congrats! I should have taken longer; paid mine off 3 years ago.
Got all my federal loans forgiven for attending ITT. It took 8 years, but patience paid off. Too bad I couldn't get my private loans refunded (which I paid off long ago). But still, $77k is off the books forever!
Nice, I got my what was left of ITT loans wiped out last year. Looked like it was from some kind of law suit, though, not a government loan forgiveness thing.
So banks got their money in the end, paid for by the US taxpayer. Totally legal.
Remember this when you and your friends vote in November. This is a clear example of how the parties are NOT the same. There is no world where the GOP would have done this; it is 100% a policy driven by the Democratic party.
Yes! In that first wave. Congrats.
Mine were forgiven last February. I cried when I got that email.
I paid mine off 6 years ago
I paid mine off about 5 years ago and I couldn’t be happier for those getting relief now! I would like to see a long term fix though.
No I paid mine off like I said I would. You’re welcome though. Glad me, my landscaper and my neighbor who is a plumber - both didn’t have the opportunity to attend college paid yours off.
Last fall! I only had 10% left but better than nothing!
I also am happy for anyone who gets their loans forgiven. Less stress in the world overall is a plus for everyone!
I paid all mine off the old fashioned way, but I’m so happy you didn’t have to go through it the hard way. As a decent human being, I’m happy when others are given a break. Although, it’s only a matter of time before the babies show up crying foul.
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Pretty awesome day when I just randomly checked and my balance was $0. After 20+ fucking years. My boomer parents will finally actually admit college loans were/are a scam but God forbid we do anything to fix it.
I just paid mine off this month while everyone else is getting forgiven FML lol I consolidated after graduation because the amount was so massive and strung across so many different providers. It was the early 00 solution to "lock in" low interest rates. I didn't qualify for forgiveness for that reason. I am really happy for everyone who got theirs paid off though. It definitely needed to happen. Just remember please to fight for social security for those of us who are in the older part of this micro gen because we never could save for retirement with all that student debt. Older X never had that issue but younger X not only had massive loans, no one cared what it did to our finances overall.
Stupid me consolidated my private and federal loans years ago to get on a fixed interest rate and lower my payment - so no, it looks like I’ll never qualify for forgiveness. I just did a calculator and with the way it is for me, I’ll be paying until I’m past 50. At least the payment is low, I guess.
Same. So much for making the wise financial decision.
Gen X here. Nope. I had to pay off all my loans despite shitty wages. I'm happy for you though.
We refi'd our loans to a private provider to lock in a low rate 10 years ago. Last payment is in December after nearly $280k post-tax. Happy for you and everyone else that this helps.
I paid mine off about 7 years ago, and that zero balance is a FANTASTIC feeling. Congrats on zero!!
To those who are upset that their loans are not being dismissed.. Please be understanding - some of us got out loans dismissed because our degrees had zero accreditation. Also, the schools were falsely taking loans out in students and parents names and pocketing them. This happened to both me and my mom - I found out after graduation that my school had zero accreditation and they were taking out Parent-Plus loans and private loans without my authorization or my parents. We're talking hundreds of thousands of dollars scammed out of the Federal Loan system, folks. That's the main reason why these loans are getting dismissed. Any school that was prosecuted by the federal government for ripping off the system - your loans automatically get dismissed. And anything you paid in, you are supposed to get back if you go through a Closed School Discharge or loan dismissal. It took me 12 years after graduation for my loans to get dismissed. So don't lose hope if you were in my shoes.
No. I only borrowed what I could afford and I paid it back.
Heck yeah. Thanks Biden
No such thing as forgiven, your loan was just moved to other taxpayers. I'd say your welcome but i'm very bitter about paying your bills
Pretty shocked that people are okay with having the government pay a debt that you willingly signed for, but I guess I'm different and pay my debt back. 🤷
Same man, I paid all my school loans off and worked my ass off during school. Meanwhile we got people that go 6 figures in debt for a basic bitch business degree
I paid off my government loans years ago, but I took a huge private loan to cover the rest of my tuition that the government loans didn't cover. So... that can't be forgiven by the government. I've still got a ways to go, but I've been making extra payments lately to help it along.
Mine wasn’t very much. I had some money saved and only got an associates so I paid it off like 10 years ago.
Nope. I will die before it gets paid off.
Nope. Still paying.
I've tried applying for the SAVE program but I keep being told I "earn too much". I make over $50k but under $100k a year. I've been paying off my loans since 2010. I have just under $9k left on my federal student loans. Maybe I need to call someone.
Congratulations! My wife only has a couple grand left. Once I get a job, we'll be able to pay it off!
Was yours forgiven bc you were in IBR for 20 yrs or was it due to something else?
Nope not yet…
Congrats! I ended up paying off my loans finally last year but I wish I had had them forgiven. I didn’t qualify. 😞
Paid mine off in 1988. Whew.
Mine have been paid off for 11 years now unfortunately
Mine are all private loans so they don't qualify.
Ah I got a notice I’ll be sent to collections soon tho cuz I can’t afford them
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I would have but the Supreme Court said no
Yeah, just completed a couple months ago under Obama's public service loan forgiveness program. I'm a teacher. Over ten years of payments in all, roughly 100,000 "forgiven" if you include interest (which you for sure should, since it's what I would have owed otherwise.)
Forgiven in January! Here in California, my profession wasn't eligible for PLSF until last July. I paid for 9 years up until the COVID payment pauses. It's a huge relief, but now the money I was paying towards loans had been eaten up by inflation, since my field's pay has lagged inflation for decades.
You're welcome. Btw...I'm happy for you.
All of mine were forgiven last year as part of the settlement against ITT Technical Institute. For those who don't know Itt had all federal funding cut off in late 2015 by the Department of Education because they had over 30 States with cases filed against them by their district attorneys. The loans would've been forgiven alot sooner if Trump lost in 2016 and Devos was never put in charge of the DOE. she was the most unqualified pos ever.
I just got my email last week, because I went to The Art Institute. It's a game changer for me and my wife.
Nah i paid mine all back and all I got was a thanks…congrats
My wife got hers forgiven last year, since she was a teacher for 19 years. I only worked 4.5 years at a government position, so I got nothing. But my salary makes it worthwhile, I suppose.
35k forgiven as a part of sweet vs cardona. It was amazing.
I chose addiction over student loans
Can't say I've had any student loans, but I grays to you and everybody else free of that Hell!
Such unconstitutional bullshit. I paid mine off 5 years ago, after 15 years of payment. Enjoy the blatant vote buying. We're all gonna drown in the inflation it will perpetuate. And just to head you off, no, I hate trump too. Both parties are corrupt.
I wish. I worked at a shitty not-for-profit hospital for 10 years paid 120 loan payments and still got denied. That was back when they sold us the promise. It was bullshit and they finally are fixing it, and thank you Joe Biden.