The improvements that have been made apply to a TINY minority of people and even in that group, they may not qualify. On top of that, continuing to ask people to pay isn’t REALLY “forgiveness” now, is it?
“The SAVE option reduces the monthly federal student loan payments for undergraduate borrowers from 10% of discretionary income to 5%, and shortens the timeline to forgiveness for those with small balances from the usual required 20 years or 25 years. Those who took out $12,000 or less in their undergraduate or graduate postsecondary studies get any remaining debt erased after just a decade.”
So:
We’re still going to ask you to pay, you just have to pay 5% of your income instead of 10%.
If you took out student loans less than $12K (who DOES that?) the debt can be erased after 10 years instead of 20 to 25 years.
That’s not forgiveness. That’s not what people are looking for.
The improvements that have been made apply to a TINY minority of people and even in that group, they may not qualify. On top of that, continuing to ask people to pay isn’t REALLY “forgiveness” now, is it?
https://www.cnbc.com/2024/01/16/how-to-qualify-for-bidens-fast-tracked-student-loan-forgiveness.html
“The SAVE option reduces the monthly federal student loan payments for undergraduate borrowers from 10% of discretionary income to 5%, and shortens the timeline to forgiveness for those with small balances from the usual required 20 years or 25 years. Those who took out $12,000 or less in their undergraduate or graduate postsecondary studies get any remaining debt erased after just a decade.”
So:
We’re still going to ask you to pay, you just have to pay 5% of your income instead of 10%.
If you took out student loans less than $12K (who DOES that?) the debt can be erased after 10 years instead of 20 to 25 years.
That’s not forgiveness. That’s not what people are looking for.
Reality. It sucks sometimes.
That it do!