There is so much to navigate between the SAVE plan and other IDR plans like PAYE. Borrowers are left with a rather tricky forced choice: should they secure a spot on PAYE before the deadline of July 1, 2024, or gamble on the uncertain future of SAVE? Here is a blog borrowers should read for considerations: www.studentloanplanner.com/switch-from-paye-to-save/
Regarding the FEL loans, it is not a reach to grant standing... if even a single borrower transitioned off that plan to thr SAVE plan, then the state has been "harmed"... that is all that is needed for standing... I don't think it is a very far reach to speculate that at least one borrower from those 3 states will do exactly that. MOHELA's argument is also a valid one in terms of them being "harmed". Given the massive dollar amounts involved, I could also see courts invoking the major questions doctrine to strike it down.
The loans should be at 0-1%, the govt could subsidize the rest. Otherwise kids can never get their balances down. Just randomly forgiving loans for some people and not others, having people hoping for forgiveness so they're just paying the lowest they can now isn't helpful. The colleges basically rip them off right and left and I'm sorry, when you're 18 and want to go to college to better yourself you overlook what it really costs with the hope it will all work out. Then you get out, can't afford the payments, can't afford housing and can't find a job good enough to make all those payments. It's not like the old days
There is so much to navigate between the SAVE plan and other IDR plans like PAYE. Borrowers are left with a rather tricky forced choice: should they secure a spot on PAYE before the deadline of July 1, 2024, or gamble on the uncertain future of SAVE? Here is a blog borrowers should read for considerations: www.studentloanplanner.com/switch-from-paye-to-save/
Save the SAVE!😢
Regarding the FEL loans, it is not a reach to grant standing... if even a single borrower transitioned off that plan to thr SAVE plan, then the state has been "harmed"... that is all that is needed for standing... I don't think it is a very far reach to speculate that at least one borrower from those 3 states will do exactly that. MOHELA's argument is also a valid one in terms of them being "harmed".
Given the massive dollar amounts involved, I could also see courts invoking the major questions doctrine to strike it down.
Up to what day can i submit the SAVE plan for my student loans or Parent plus loans
The loans should be at 0-1%, the govt could subsidize the rest. Otherwise kids can never get their balances down. Just randomly forgiving loans for some people and not others, having people hoping for forgiveness so they're just paying the lowest they can now isn't helpful. The colleges basically rip them off right and left and I'm sorry, when you're 18 and want to go to college to better yourself you overlook what it really costs with the hope it will all work out. Then you get out, can't afford the payments, can't afford housing and can't find a job good enough to make all those payments. It's not like the old days
So as a PPL should still be attempting to get on the SAVE with the loophole double consolidation?
Ill take 0 payments under IDR keeping my fingers crossed for any kind forgiveness
Doesn’t this all go into effect in like 2 weeks? Lol