Anyone know whats going on with student loans?

General
1

Does anyone know whats going on about student loans. I was on income based plan and now im receiving bill that financially cant afford.

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2

The government is not paying your loan - you took it out, you owe it. They are negating the interest for people that have already paid for years but wete prey to high lending interest rates. Only the interest due and unpaid is being forgiven - not what you borrowed.

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3

Then call them and find out.

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4

You’ll probably have to reapply.

5

wait i thought they were on forbearance until a final decision is made about a payment plan because they wanted to take the income derive plan. From what I read they were trying to figure out a payment plan for those of us who are an income derive plan and will let us know when a payment plan is set. I have not received any letters about making a payment yet. I wonder if they restarted payments and I have not been notified yet.

6

If you took out a loan you pay it back. Why should other people pay off a loan for something/someone that doesn’t benefit them?

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7

When I tried to apply for the loan forgiveness the other day it says it’s only being offered to people with government jobs and non profit organization workers.

8

Yeah, you have to pay it back. Just like any other loan that you take out. I am surprised they didn’t teach you that in college.

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9

So basically the democratic president lied, what no way :joy::rofl:

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10

You need to call them. Sometimes the “rate plan” based on income is only for a set time.

11

I paid off my loan and now I’m supposed to contribute to your loan? Why didn’t you contribute to paying off my loan?

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12

??? Student LOAN lol you have to pay it back, did you think it was free money???

13

If you owe you should pay it. Some companies will help you if you agree to a contract with them. Usually in the nursing field.

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14

Ignore the “you owe it, pay it” and the other rude a$$ comments. Contact your loan servicer + figure out how to adjust your plan + let them know what you can afford to pay a month. In a week is when it goes back to when you miss a payment, they report it to the credit bureaus and it’ll go on your credit instead of the pause.

15

Sooo many of you misunderstood the original posters comment… they said they were on an income based plan… not that they wanted their loans forgiven.
Income based meaning they set your payments on your loan based off of your income.

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