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Scared

March 12th, 2019 at 01:17 pm

I’m so scared now. The Trump administration has proposed cuts that will impact student loans. There’s a possibility that the income driven payment program will be no longer for some, I’m included.

Right now my salary is $58k and based on that my payments are $172. I can’t imagine paying more until I get these credit cards paid off, and even then it will be tough.

I’ve been looking for a part time job so I can start tackling this thing but nothing.

7 Responses to “Scared ”

  1. DW Says:

    Nothing really happens immediately (no matter who is in office). It would probably take effect in 2020 or 2021.
    That’s why it’s important that you give them priority over prepaying your mortgage. You can’t control what the government does, you can only control you.

  2. crazyliblady Says:

    Can you negotiate a lower rate?

  3. Dido Says:

    Trump can propose it, but the Constitution puts the power of the purse in Congress's hands, and with the House having a Democratic majority, any changes that he proposes will need to be something the Dems can sign off on.

    He'll propose extreme things but that doesn't mean that he'll get them!

  4. CB in the City Says:

    I'm scared, too, when they talk about cutting Social Security, but I have faith that the Dems will not let that happen.

  5. rob62521 Says:

    Keep paying them down as much as you can. Hopefully nothing horrible will happen. I keep telling myself checks and balances, checks and balances. Living in Illinois it is pretty scary as well with a bunch of new taxes possibly coming down the pike.

  6. PatientSaver Says:

    He seems to think that a military buildup is more important than a lot of things. But just because he wants it, doesn't mean he'll get it. Thank goodness for checks and balances on unbridled power. Best wishes paying down your loan.

  7. Jenn Says:

    I totally agree with DW. At the rate you're paying off the CCs, you'll be okay. And when you get to those student loans, you'll want to use that big snowball anyway. No measly minimum payments to keep you in debt forever!

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