Not blown. Everyone had the opportunity to pay it off for 3 years. Instead, the government dangled a carrot of the get-out-of-jail-free-card but only if you don't pay, that now caused those people living hand to mouth to be worse off. (Anyone with half a brain who wanted a bet either way had the money invested or otherwise liquid in case this exact scenario happened.)
@@pondracekexactly. 3 year of pause to pay it off as much as you can. Those that instead bought cars, went on vacations, or bought new tvs and iPhones made another bad decision just like they made with this student loan.
here are the facts: Americans have been getting absolutely hammered by colleges with random high fees and higher tuitions every year and often students are misled by there counselors Yes I feel these americans should have to pay for these loans every single dollar because they signed on the dotted line. Now here is where i feel like we are failing, student loans are charging these people insane amount of interest payments. student loans interest rates should be capped at 2%-4% interest rates, these loans are not that risky. you can literally go through bankruptcy and still have these loans. Also this spokesman keeps talking about saving money by deferring payments at a lower amount but the interest rate still accrues.
Alternative viewpoint: I think that students declaring bankruptcy should be allowed to default on their loans, just like any other loan. But I also think lenders should be allowed to say "no" to gender studies and poor grades. And people should be incentivised to pick cheaper colleges in order to be approved for those loans, so that the expensive colleges can't fill places anymore and have a reason to exert downward pressure on their fees.
0:20 if everybody just started completely ignoring their student loans for 7 years after graduating and having their student debt deemed uncollectible, they would have to change the system and make it actually affordable. 7 years is not that long to completely erase something that would have you in debt for the rest of your life.
@@michaeljohnson1117 Ok, you go first. 😄 You can't just not pay your loans unless you're gonna sit around making no money for 7 years. They garnish your wages. Not paying your loans is like not paying your taxes.
I'm not paying either way. If this country has 100 billion for Israel, 200 billion for Ukraine, and trillions in tax cuts for corporations and billionaire, I'm getting a free degree.
Europeans pay very little abd score better academically, in fact, the U S actively recruit overseas graduate because they have the necessary skills for tech. No one mentions that these graduates pay a lot less, if anything, towards higher education. Bottom line, Americans are saddled with debt , competing on an uneaven field.
The best solution and most cost effective is to find a job out of the country. Then you only get taxed 1% instead of 40% plus. That right there is basically a 39% raise. And this if if u make under 100k. It's so much cheaper and better quality of living then in the USA. Latin American is very solid to do this as well as southeast Asia.
Maybe go to work a be aggressive paying it off. My daughter did that with 45K in debt payed off in three years during Covid . When most everyone hid she went to work.
yeh, become one and come to Cali, the paradise for the homeless fantanyl addicts! you are so welcome here! but I heard that most of all homicide, crime, murder is happening to them.
What if I stated my payments in 2015 and I paid approximately 60 months until March 2020. I have applied to public forgiveness program and in my account I see that I pay my loans for the next 60 months. What about the rest of the loan? Will it be forgiven?
If you qualify for PSLF you need to make 120 payments. If you continued to make payments through the pandemic and your employment did not change, then those payments would count. If not you would still need to make payments up to 120 monthly payments.
Guys. Even though I think many of us got hood winked in some ways what more do you need to see or know to make it ever so apparent that you will have to pay your loans. Whatever Joe is proposing or promising may be different when a new president gets in. I do realize some of you can’t afford the payments. Tough situation. The ones that can. Just pay them.
It's hundreds of thousands of people who were promised good jobs and high wages if they went to college. Promised careers that weren't there when they graduated, so now we have hundreds of thousands of people unable to contribute to the economy because of out-of-control school fees&tuition and astronomical interest rates on 50k+ loans. They didn't teach financial literacy in public school either so these new adults had no idea what they were really getting themselves into. I know people who's loan payments are as much as my rent. I was lucky that I quit early and found labor jobs instead. But even my measly 10k in fed subsidized loans with 4.6% interest monthly is $130 for 10 year repayment. Lord forbid someone misses a payment too. It's out of control and that's the problem. Other countries dont have 1 or 2 entire generations of people in school loan debt like we do. And it's hurting our economy which is why gov is scrambling to find something to make it easier.
May be colleges and universities need more o start being held accountable on the amount students are allowed to borrow. May be they shouldn’t offer loans to students majoring in degrees that wouldn’t get students good paying jobs, but only offer loans to students majoring in useful degrees e.g health( clinical). Just maybe the problem of not being able to pay back will reduce.
@@IyaT-c5e It's not the colleges writing the loans. That's like asking a drug dealer to be responsible for health insurance. What should happen is that the loans should be dischargeable upon bankruptcy (since they're charging interest anyway), but lenders should be allowed to look at grades and what you're studying to evaluate the likelihood of you paying back the loan, and refuse loans for gender studies and poor grades.
@@IyaT-c5e should credit card companies be held responsible for letting you rack up debit buying stupid things then? Nope, you borrowed the money, it’s the borrowers problem and nobody else.
@@chaselesser3191 What are you taking about? Covid relief packages? Student loan repayments were put on hold for three years, of which let's exaggerate and say they were locked down for 2. Unlike businesses that employ people which the government forcibly locked down, having a student loan doesn't cost anything when your loan repayments are frozen.
More wishful thinking from likes of you that depend too much on government. Make smarter choices in life and don’t borrow too much and just pay it off to stay debt free. Do the right thing.
he'll try again next year just to buy your vote but please trust when I say this: Socialism has dire consequences and you will regret your decision. Nothing is free, as we've all seen that measly $1200 stimulus balloon into the inflation we see today
![Lp. Сердце Вселенной #60 РОЖДЕНИЕ ЛОЛОЛОШКИ [Финал] • Майнкрафт](http://i.ytimg.com/vi/YoR0pAV9FVQ/mqdefault.jpg)
What a blown opportunity for people to pay off this junk.
Not blown. Everyone had the opportunity to pay it off for 3 years.
Instead, the government dangled a carrot of the get-out-of-jail-free-card but only if you don't pay, that now caused those people living hand to mouth to be worse off. (Anyone with half a brain who wanted a bet either way had the money invested or otherwise liquid in case this exact scenario happened.)
@@pondracekexactly. 3 year of pause to pay it off as much as you can. Those that instead bought cars, went on vacations, or bought new tvs and iPhones made another bad decision just like they made with this student loan.
I paid mine off in December 2021. It was only 14K but I had a bad feeling the forgiveness wouldn’t last
Congrats!!!@@Zikomo7
Americans live on debt 💰
here are the facts: Americans have been getting absolutely hammered by colleges with random high fees and higher tuitions every year and often students are misled by there counselors
Yes I feel these americans should have to pay for these loans every single dollar because they signed on the dotted line. Now here is where i feel like we are failing, student loans are charging these people insane amount of interest payments. student loans interest rates should be capped at 2%-4% interest rates, these loans are not that risky. you can literally go through bankruptcy and still have these loans. Also this spokesman keeps talking about saving money by deferring payments at a lower amount but the interest rate still accrues.
Alternative viewpoint: I think that students declaring bankruptcy should be allowed to default on their loans, just like any other loan.
But I also think lenders should be allowed to say "no" to gender studies and poor grades. And people should be incentivised to pick cheaper colleges in order to be approved for those loans, so that the expensive colleges can't fill places anymore and have a reason to exert downward pressure on their fees.
Under the new SAVE repayment plan interest will not accrue with on time payments. This will be so helpful. The spokesperson did mention it in passing.
0:20 if everybody just started completely ignoring their student loans for 7 years after graduating and having their student debt deemed uncollectible, they would have to change the system and make it actually affordable. 7 years is not that long to completely erase something that would have you in debt for the rest of your life.
@@michaeljohnson1117 Ok, you go first. 😄
You can't just not pay your loans unless you're gonna sit around making no money for 7 years. They garnish your wages. Not paying your loans is like not paying your taxes.
@@michaeljohnson1117no that won’t work. Those that don’t pay will have their paychecks garnished.
I'm not paying either way. If this country has 100 billion for Israel, 200 billion for Ukraine, and trillions in tax cuts for corporations and billionaire, I'm getting a free degree.
Europeans pay very little abd score better academically, in fact, the U S actively recruit overseas graduate because they have the necessary skills for tech. No one mentions that these graduates pay a lot less, if anything, towards higher education.
Bottom line, Americans are saddled with debt , competing on an uneaven field.
Time for me to read that mindfulness book "30 Days to Reduce Anxiety" by Harper Daniels hahaha
Completely ignore any and all phone calls to repay anything.
It's linked to your SSN. Uncle sam can garnish your wages
In fact.. call them and ask for money.
@@njpmeNo, No. maybe he is onto something. Let him try first.
@@chaselesser3191 🤣🤣
@@njpmeyou're assuming theirs wages involved lmao
The best solution and most cost effective is to find a job out of the country. Then you only get taxed 1% instead of 40% plus. That right there is basically a 39% raise. And this if if u make under 100k. It's so much cheaper and better quality of living then in the USA. Latin American is very solid to do this as well as southeast Asia.
Pretend like you bought a car on credit. That doesn’t seem to phase anybody. Buy an older car and use the difference to make the payments.
Excellent explanation.
Never pay it back!
Get ready to be garnished on your payments
Maybe go to work a be aggressive paying it off. My daughter did that with 45K in debt payed off in three years during Covid . When most everyone hid she went to work.
yeh, become one and come to Cali, the paradise for the homeless fantanyl addicts! you are so welcome here! but I heard that most of all homicide, crime, murder is happening to them.
What if I stated my payments in 2015 and I paid approximately 60 months until March 2020. I have applied to public forgiveness program and in my account I see that I pay my loans for the next 60 months. What about the rest of the loan? Will it be forgiven?
If you qualify for PSLF you need to make 120 payments. If you continued to make payments through the pandemic and your employment did not change, then those payments would count. If not you would still need to make payments up to 120 monthly payments.
There is too much red tape with these program.
I will refuse to pay. Either that or be homeless.
Get ready for homelessness
Can’t wait to buy ur house
Stay gaming !
Or join Scientology; even the IRS wasn’t able to get Scientology 😂
Or maybe work and pay off the debt, it can be hard to understand.
The SB in the green looks good.
Good
Guys. Even though I think many of us got hood winked in some ways what more do you need to see or know to make it ever so apparent that you will have to pay your loans. Whatever Joe is proposing or promising may be different when a new president gets in. I do realize some of you can’t afford the payments. Tough situation. The ones that can. Just pay them.
It's hundreds of thousands of people who were promised good jobs and high wages if they went to college. Promised careers that weren't there when they graduated, so now we have hundreds of thousands of people unable to contribute to the economy because of out-of-control school fees&tuition and astronomical interest rates on 50k+ loans. They didn't teach financial literacy in public school either so these new adults had no idea what they were really getting themselves into. I know people who's loan payments are as much as my rent. I was lucky that I quit early and found labor jobs instead. But even my measly 10k in fed subsidized loans with 4.6% interest monthly is $130 for 10 year repayment. Lord forbid someone misses a payment too. It's out of control and that's the problem. Other countries dont have 1 or 2 entire generations of people in school loan debt like we do. And it's hurting our economy which is why gov is scrambling to find something to make it easier.
What you need to know, you borrowed money, pay it back
May be colleges and universities need more o start being held accountable on the amount students are allowed to borrow. May be they shouldn’t offer loans to students majoring in degrees that wouldn’t get students good paying jobs, but only offer loans to students majoring in useful degrees e.g health( clinical). Just maybe the problem of not being able to pay back will reduce.
@@IyaT-c5e It's not the colleges writing the loans. That's like asking a drug dealer to be responsible for health insurance.
What should happen is that the loans should be dischargeable upon bankruptcy (since they're charging interest anyway), but lenders should be allowed to look at grades and what you're studying to evaluate the likelihood of you paying back the loan, and refuse loans for gender studies and poor grades.
@@IyaT-c5e should credit card companies be held responsible for letting you rack up debit buying stupid things then? Nope, you borrowed the money, it’s the borrowers problem and nobody else.
Yeah, except for the people that had business loans of upwards of $700,000 to $2,000,000. Those were morally done.
@@chaselesser3191 What are you taking about?
Covid relief packages?
Student loan repayments were put on hold for three years, of which let's exaggerate and say they were locked down for 2.
Unlike businesses that employ people which the government forcibly locked down, having a student loan doesn't cost anything when your loan repayments are frozen.
Nice to meet u soon as possible thanks ❤❤❤❤❤❤❤❤❤
What will happen when AI takes over?
I wish Biden pushed his plan more.
LOL
SMDH
More wishful thinking from likes of you that depend too much on government. Make smarter choices in life and don’t borrow too much and just pay it off to stay debt free. Do the right thing.
he'll try again next year just to buy your vote but please trust when I say this: Socialism has dire consequences and you will regret your decision. Nothing is free, as we've all seen that measly $1200 stimulus balloon into the inflation we see today
after all, this was just a little carrot he dangled for us to bite to vote him lol
لا خرجني بشيء وانا قانع خرجني وصبر كل مال ارسلني وانا طالب بنستيحتي في الدولتي انقطاع ليساعدني كل البنك اسلام اعلانات بينات انا صبر والله العطيم
❤❤❤❤❤❤❤❤❤❤❤❤❤
Sounds like a bunch of millennials. "What do you want"? Pay my debts and vacation!
Who wouldn’t want that? 😂
Let s dancing with the diamonds ⏲️ 🌎 ocean cocomo world
Nice to meet u soon as possible thanks ❤❤❤❤❤❤❤❤❤