>160k student loan borrowers are now in line to have their balances canceled, bringing the total amount of #DebtForgiveness allowed under the Biden admin’s policies to $167B, the #Education Dept announced Wed.
With the #election months away, #POTUS#Biden is lauding his admin’s achievements in delivering loan cancellation to nearly 4.8M people through a mix of existing programs & new policies. #Republicans have remained staunchly opposed to the effort, decrying it as a waste of taxpayers’ money & patently unfair to Americans who never went to college.
“I promised to fight to ensure higher education is a ticket to the middle class, not a barrier to opportunity,” #Biden said in a stmnt Wed. “I will never stop working to cancel student debt — no matter how many times Republican elected ofcls try to stop us.”
Well, after numerous hours of phone calls and various complaints filed with various entities, my #studentloans serviced by #MOHELA are mostly finally in order on the PSLF and SAVE plan again. I'm still short roughly 2 years of the payment credits I expected should be there and they're apparently still "looking into" that, but my payment for the next twelve months is 1/10 of what it last billed at. Here's to hoping MOHELA doesn't spontaneously screw it all up again.
"To get the most credit toward loan cancellation, borrowers with the following types of federally managed loans must consolidate them: commercially-held Federal Family Education Loan (FFEL), Parent PLUS loans, Perkins loans and Health Education Assistance Loan (HEAL) Program loans." #studentloans
Recognizing people are pissed about spending taxes paid by poorer people who didn't go to college on #StudentLoans, what if we created a separate new tax on the very wealthy to pay for it? Or corporate profits. Make it an ongoing separate fund that also paid for trade school. Would that make (almost) everybody happy?
"President Biden announced a student loan plan Monday that would help millions of Americans have their debt forgiven in his latest attempt to provide relief to borrowers."
The Hill reports: "The plans would give relief to 25 million borrowers who owe more money than they did at the start of repayment because of the interest rate on federal student loans."
@StillIRise1963
not just youngers
I've been paying on my #StudentLoans for over 20 years & barely touched the principal bc I didn't finish my doctorate & had to go back to service sector work
They take it out of my #SocialSecurity now
I am told that studying the History of Christianity was a stupid thing to do
🙄
Looks like #MOHELA has increased my payment over 10x, removed me from the SAVE/IDR program, added some 3 years to my PSLF requirement, and I've now been on hold for 30 minutes trying to get any sort of answer for the why for any of it.
You're not going to believe this. They see the error on their end. They are transferring me to a "specialist" and the anticipated hold wait time is 127 minutes.