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Student Loans

April 14th, 2023 at 12:01 am

I'm so happy to hear that the Supreme Court has allowed the $6 billion student loan debt settlement. There's still another case pending but this is good news. 

I've been privileged enough to knock my debt down from $80k+ to just over $30k during the freeze on interest. I also consolidated my loan. I'll continue to pay and if I'm granted a forgiveness, I'll be thankful and if I don't I'll still be thankful because over the last two and a half years I accumulated no interest. 

I don't know why people have a problem with this loan forgiveness but hey. I still think that the student loan debt guarantee needs to done with. Lenders would be more cautious with lending if this wasn't the case. 

I haven't updated my sidebar but will do so over the weekend. 

Posted in Debt | 3 Comments »

3 Responses to “Student Loans ”

  1. Turtle Lover Says:
    April 14th, 2023 at 01:47 pm 1681476422
    1681476422

    You are doing awesome!

  2. terri77 Says:
    April 15th, 2023 at 03:12 pm 1681567944
    1681567944

    I had not heard this! That’s good news for many Americans. Lenders should be more cautious in lending to young adults. You can’t even rent a car or drink alcohol until you’re 21, but they allow 18 year olds to sign up for ridiculous amounts of debt. If they allow people to bankrupt student loans they would think twice.

  3. jp Says:
    May 5th, 2023 at 07:02 pm 1683309737
    1683309737

    The reason for student loans not being forgiven in bankruptcy, from what I've read, is based off the traditionally extremely high loan values for medical school and law school (and others, I'm assuming, but those are the main). The students, who take out these massive loans, would finish med/law school, immediately declare bankruptcy, and by the time 7 years is up and the bankruptcy is cleared, they've established residency and are now making bank with no loans...the banks were stuck with the defaulted loans. So they passed these laws to protect the banks (makes sense to me). What they didn't take into account, was the prices of ALL schools skyrocketing because of these protections...and here we are. For me personally, I don't like the government bail out. People are signing up for loans on degrees that aren't going to pay, and now I have to pay for it. Maybe they can adjust the laws for certain schools (because this med/law school declare bankruptcy scheme is bs as well), but not for ALL schools. These loans need to be adjusted to the degrees they are paying for. And as the laws are now, there's no reason for the banks to discriminate - they get paid no matter what....by the rest of us. Just my 2 cents. Smile I do hope you get the bail out though. I'm all for taking what you qualify for!

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