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Trump 3 mo extension counts towards PSLF !

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  • Trump 3 mo extension counts towards PSLF !

    https://www.forbes.com/sites/adammin...-of-education/

  • #2
    Pathetic.

    Comment


    • #3
      I’m torn on this one. It’s a nice little perk for me personally even if I think it’s a horrible call for the country as a whole.

      Comment


      • #4
        In my opinion, high income earners should be excluded from PSLF. We all made the bed that we lie in and should be responsible for paying it back. PSLF should be for low income earners (teachers, social workers, etc.).

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        • #5
          I'm no constitutional scholar but thus it is I guess. Here's the actual press release...
          https://www.ed.gov/news/press-releas...rough-end-year

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          • #6
            I'm no longer seeking pslf and will need to refinance at some point. I imagine it's hard to predict future interest rates, but when do you think is the sweet spot of getting a low interest rate and keeping the 0% federal loan as long as possible? Are we going to extend this again after the the of the year?

            Comment


            • #7
              Originally posted by endo4jc View Post
              In my opinion, high income earners should be excluded from PSLF. We all made the bed that we lie in and should be responsible for paying it back. PSLF should be for low income earners (teachers, social workers, etc.).
              Teachers and social workers made the bed they lie in too. No one should have PSLF. Especially when the gold standard IMO is those who chose to serve our country and sacrifice their lives so they could have their tuition paid for.
              Last edited by ENT Doc; 08-22-2020, 02:04 AM. Reason: The—>they

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              • #8
                Originally posted by ENT Doc View Post

                Teachers and social workers made the bed the lie in too. No one should have PSLF. Especially when the gold standard IMO is those who chose to serve our country and sacrifice their lives so they could have their tuition paid for.
                A few of us are on the front lines of this pandemic though and risking our lives and the lives of our loved ones.


                (Im not in PSLF, im >500k in debt paying it old school)

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                • #9
                  I consider this a rather absurd subsidy for me this year. I will post a low 7 fig 2020 income and government is covering interest on my loans for 9 months this year. I will end up refinancing though because my unexpected income will lead to very high payments over next few years. So no pslf. I get the rationale for pslf. But better solution would be to crack down on deans office bloat and force universities to be capital efficient. This will never happen...

                  Comment


                  • #10
                    Originally posted by ENT Doc View Post

                    Teachers and social workers made the bed the lie in too. No one should have PSLF. Especially when the gold standard IMO is those who chose to serve our country and sacrifice their lives so they could have their tuition paid for.
                    I’m curious what the cost of tuition was for you.

                    The cost of education is problematic and in some cases not even feasible without these programs.

                    we should encourage people to get education, not become serfs to their loans. It is the university faults Not the students that the cost of education has outpaced inflation by 5x over last 20 years.

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                    • #11
                      Originally posted by BCBiker View Post

                      I’m curious what the cost of tuition was for you.

                      The cost of education is problematic and in some cases not even feasible without these programs.

                      we should encourage people to get education, not become serfs to their loans. It is the university faults Not the students that the cost of education has outpaced inflation by 5x over last 20 years.
                      The cost of tuition was zero for me. Because I told Uncle Sam that you can send me to do your bidding, to help keep our soldiers healthy, to potentially sacrifice my life for the good of the country, and to potentially send me away from family at a moment’s notice. I saw people who made similar sacrifices die or be horribly maimed. If that isn’t the standard for free tuition I don’t know what is.

                      The reason tuition has gone up over the last several decades is because the government came along and guaranteed there’d be whatever amount of money for college. Colleges then got drunk on the excess, raising their prices accordingly. And the public who swallowed the line that college is necessary and who paid tens of thousands to major in something of minimal worth to society matriculated like lemmings. Had the government not guaranteed endless sums of money available for borrowing none of this would have occurred. But at any point the American public could have said enough, this is stupid. Or pursued community college then transfer to cut costs. Just like the financial crisis and purchasing houses we couldn’t afford, we too are complicit in this madness. So spare me the sob story about people not being able to afford it. The FAFSA guaranteed pice discrimination to their ability to pay, they knew full well what the costs were, and likely chose a degree that was a poor decision financially. They could have made alternative choices. Further, IBR options exist. No need to make taxpayers fund their poor decisions.

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                      • #12
                        Originally posted by Flapjacks View Post

                        A few of us are on the front lines of this pandemic though and risking our lives and the lives of our loved ones.


                        (Im not in PSLF, im >500k in debt paying it old school)
                        Lol. Those pursuing PSLF here had no idea COVID would occur and didn’t receive it contingent on potential sacrifice to life. Additionally, you can quit, or move to a lower risk area if you’re concerned about risk. Think the military members have that choice? Not even comparable.

                        Comment


                        • #13
                          Originally posted by ENT Doc View Post

                          The cost of tuition was zero for me. Because I told Uncle Sam that you can send me to do your bidding, to help keep our soldiers healthy, to potentially sacrifice my life for the good of the country, and to potentially send me away from family at a moment’s notice. I saw people who made similar sacrifices die or be horribly maimed. If that isn’t the standard for free tuition I don’t know what is.

                          The reason tuition has gone up over the last several decades is because the government came along and guaranteed there’d be whatever amount of money for college. Colleges then got drunk on the excess, raising their prices accordingly. And the public who swallowed the line that college is necessary and who paid tens of thousands to major in something of minimal worth to society matriculated like lemmings. Had the government not guaranteed endless sums of money available for borrowing none of this would have occurred. But at any point the American public could have said enough, this is stupid. Or pursued community college then transfer to cut costs. Just like the financial crisis and purchasing houses we couldn’t afford, we too are complicit in this madness. So spare me the sob story about people not being able to afford it. The FAFSA guaranteed pice discrimination to their ability to pay, they knew full well what the costs were, and likely chose a degree that was a poor decision financially. They could have made alternative choices. Further, IBR options exist. No need to make taxpayers fund their poor decisions.
                          I didn't realize that you were military. Thank you for your service!

                          Comment


                          • #14
                            Originally posted by Lordosis View Post

                            I didn't realize that you were military. Thank you for your service!
                            Was. And thank you. Happy to have served.

                            Comment


                            • #15
                              Originally posted by ENT Doc View Post

                              Was. And thank you. Happy to have served.
                              Thankful you don’t seem to have been severely maimed.
                              Just a point, when the US switched to a volunteer military service, it came with a cost and a huge risk to those that volunteered. Education was a small piece that was of zero value for many. We have a volunteer military that in no way impacted higher education. Price paid by individuals.

                              The student loan programs, repayment options and forgiveness programs have produced many unintended consequences. In no way should they be considered in the same breath. Completely unrelated. Artist, teachers, doctors and senators even aren’t military service. Let’s leave it at that.

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