Oh crap. I guess I was lucky to start small at a business school & finish at an accredited university. It still took 10 years to pay off the loans.
But…I graduated in 2000 and tuition is getting worse every year.
Stay strong.
That's exactly what I did, too. I started at a community college and finished at a university. My parents forced me to go but didn't save up for me to go. It was either go and stay at home or try to survive on $6.55 an hour.
Good idea! After all the government is selling certain agencies to destroy documents and, when the shredder is overloaded, throw those documents into a burn bag. Take some advice from this.
Oh, they won't do that. They're going to call those loans to pay for the tax cuts for the most wealthy among us. Republicans couldn't give a damn what happens to the little people.
You know they'll sell off that student loan debt to a private company to re over. This DOGE and current administration its about to perform a other scheme through eliminating specific things within the Dept of Edu.
I know that law is like, more of a vibe than usual. But we did all sign master promissory notes. I’m not sure selling the debt is allowed, technically. Or raising interest rates way way up. Or ending income based repayment plans. I’m not sure what shenanigans they’ll try, but it would be the
The DOE only guarantees the loan; the banks own the loan.
...but the bank can't take it out of your paycheck or keep your tax return so they can bite it.
As a Brit I don't know nearly enough about student loans , but I am reminded of Thatcher tinkering with things without thinking about 'knock on effects'.
As a Brit I don't know nearly enough about student loans , but I am reminded of Thatcher tinkering with things without thinking about 'knock on effects'.
The rules and laws no longer apply tho so a lawsuit will just be ignored or nullified by some new policy. If anything they might sue debtors on day one if it's privatized. Create debtors prisons as a middle finger to student loan forgiveness.
No one is going to stop them. There is little to no regulatory oversight at this point and big business has been given the (wink-wink, nudge-nudge) green light to go ahead and run wild, that there will be no consequences. What could possibly go wrong?
Right! No education dept no student loan!!! And if they sell the loan FUCK THAT COMPANY. I didn't sign a contract with that company!!! They can write it off for all I care.
If they do that then everyone should file bankruptcy and have them wiped out. Right now federally funded student loans are not forgivable in bankruptcy.
However there are going to be hard pressed to collect without people at the DOE. That why no one paid them back in the 70s. I worked the industry.
If they privatize that debt it can be declared in a bankruptcy whereas it couldn’t as federal debt. It looks like they are trying to bankrupt us all so…
Predictably the first thing they d said they plan to do is move student loan management over to the Treasury Dept. of course they’re going to stop issuing them, but the Treasury will continue collecting repayment.
Management doesn't matter. The debt is owed to the Dept. of Edu., not the US gov't as a whole. Without transferring that debt if the dept ceases to exist then there is no one authorized to collect the debt. The servicers won't want to risk the liability of remitting payments improperly.
Right!? I was looking at my MPN. it’s a contract between me and the Dept of education. I’m curse to see what shenanigans they pull to try to get around this.
Waiting to hear from my kid’s university of choice where they start in August. Will FAFSA still be relevant? What about my GI Bill?
Welcome to the new normal. So glad I served for 30 years and did multiple tours in different combat zones and contingencies to wonder if I can afford their education.
Thank you for your service. Apparently, this administration doesn't have that word in their consciousness never mind their vocabulary! My Mom is an 81 almost 81-year-old totally & permanently service-connected disabled USAF Veteran. I already had frustrations with the VA, now these jokers on board!
The VA is a large bureaucratic organization. It’s imperfect and there are many rules. But the rules are transparent. We may need Veterans Service Organizations (VSO) to sort through the chaos. And ALL VSOs are wonderful and helpful. But even with all the rules, at least the rules are transparent.
Also, they'd send her to a short-term or full-time skilled nursing home tomorrow & she'd still get her check but they won't give her more hours to be cared for in her own home. Knowing it costs more & lack of staff in facilities is crazy. So I don't get a day off til' she dies. I'm on SSDI myself.
I wish VA had funds to do more. I now work for VA and believe the average merican deserves at least what we give to veterans.
If this keeps going, we (daughters) will all be uncompensated care providers for our aging parents, even if we are women with 3 engineering degrees (me).
Yes, I am poverty level w 3 degrees myself, I was a psychotherapist in private practice until I had to close it due to health issues. I have SSDI, $1,300 a month to live on, food stamps, Medicare & Medicaid. They design this all to keep poor people poor and sick people sick & poor.
That wasn't the situation with my Mom. They intentionally hid & didn't document her intense health needs so they could deny her more homecare hours. They've repeatedly not opened a new case-mix & instead kept her on an old, outdated case-mix that was updated in June 2023 through Optum UH. Corrupt
If you think we need to keep the Dept. of Education, tell your reps in DC. They are the only ones who actually decide. It only takes few minutes and it doesn't cost any money. We don't need money in politics. We just need people participate. https://www.nationalfinancialplan.com
Absolutely brilliant! If Trump can steal US Government documents with impunity and (for all we know) sell classified info to Putin; then why not erase the data at the soon to be non-existent US Dept of Education, that keeps our young people in financial bondage.
Having a hard time understanding the mechanisms by which student loans could be transferred to another department. I worry about future students. What does a Junior in high school plan for?
I can’t speak to your second question, but they are considering transferring the student loan debt to the Treasury Dept, the Dept of Commerce, or the Small Business Administration.
I found this article to be very informative. Not an attorney but I don’t think it’s illegal. The Feds still own the receivables; they would just reassign them to a different agency or create a new agency to manage them. (Honestly, they should just write them off.)
I know someone they owe money to, but they say they don't want to bring attention to themselves for fear they'll find some reason to try to get more money out of them. Fearing our government--wonderful!
I've heard that the IRS will be in charge of the student loans, but haven't seen anything official for that. Of course, they're cutting employees there, too, so it's not clear how they can take on this new responsibility.
They are already shredding and burning documents at USAID to make it difficult to restart in the next administration.
I’m sure they will destroy documents at Education as well, so it’s entirely plausible someone could “accidentally” destroy digital & physical student debt docs.
Sounds like a good idea, after all the country will get into a recession in few weeks, massive unemployment and continuously gutting of government employees that can’t afford to pay back these loans, so deleting will be great help!
May I add that they fully fund all FAFSA requests for 2025 to compensate applicants for their mental anguish? I have a personal stake in this. My kid has recently been accepted into law school and she’s understandably stressed out about the current chaos about her funding request.
Same. I had my kid fill out his FAFSA application as soon as he could in hopes that they'll have to honor them even after they blow up the Dept of Ed. He's a Junior and has worked too hard to have his Senior year up in the air.
Hey Anonymous. This seems like a job right up your alley. The amount of student loan debt and usurious interest collected prevent many people from ever been free to move ahead, unshackled by heavy burdens. I bet you clever people can figure it out!
Please don’t do that. The confusion is bad enough already. The loan servicers have the records of who owes and how much. It will only screw things up for people who have been paying.
That was my thought, why wait?!? & That way no one is fighting to be last, we can have multiple heroes—and fwiw, my college loans have been paid off for years.
Oh, that's going to gain support from blue collar Americans! Student loan forgiveness was one of the dumbest things the Biden Administration did. It helped to defeat Kamala.
They make it sound like they had a secret agent hacker who went to FBI academy and then helped them from inside-it was just one guy they caught, who then stayed "undercover" as a rat for another 7 months until they had enough compromising data on more people...
With MAGA GOP forcing a VETERAN to feel like he has to do this is beyond unacceptable! MAGA GOP & billionaires have targeted our children, women, minorities, education, state and federal employees, unions, nurses & doctors, public school teachers, & LGBTQ! Enough is Enough! https://youtu.be/q3HQ1K52pTA?si=xuQqBCDoC9DiojJz
Like Trump and Elon with their chainsaw dismantling everything to boldly change the system? How’s that going? Better something than nothing. Sometimes slow and steady is better than nothing at all.
No… but they could have done it for good. But they didn’t. They dropped the ball. The drop in every single time. We’re done being the Charlie Brown trusting Lucy. No more. The system is broken on both sides.
We need a country where people are able to read complex documents which requires education from birth. Neuroplasticity is at its strongest in Early Childhood. That’s why I loved working with Early Intervention babies.
My mom had a $900 SL from the 80s . She was a single mom w/4 kids. She paid for years then filed bankruptcy at 1 pt. She's in her 70s now. They have been taking $77 from her $800 SS check for 11 years
She now has it down to a manageable $35,000.
Loan sharkism.
Wow 31 yrs later. It's disgusting how young adults right out of high school become drowned in student loan debt at 18 yrs old just to go higher up the education chain. Just another way to keep you tied close to their systems and traps to enrich the elites.
Student loan debt it's a commitment.
And back in 94 I didn’t have the internet to access to get any questions answered like what’s the difference between subsidized and un subsidized loans. The financial aid office refused to answer those questions
I have been praying for an Anonymous / Mr Robot moment to throw us all a bone here, in this hellscape we find ourselves in these days. We deserve it. It’s the least the universe can do for us right now.
Comments
It would be a blessing for those who may have years to pay off the loans if they were erased.
But…I graduated in 2000 and tuition is getting worse every year.
Stay strong.
Can you imagine the boost it would give to the economy?
Someone do it & help those who our Govn't is after.
...but the bank can't take it out of your paycheck or keep your tax return so they can bite it.
Maga will cheer and no one will stop them.
However there are going to be hard pressed to collect without people at the DOE. That why no one paid them back in the 70s. I worked the industry.
Welcome to the new normal. So glad I served for 30 years and did multiple tours in different combat zones and contingencies to wonder if I can afford their education.
I wish VA had funds to do more. I now work for VA and believe the average merican deserves at least what we give to veterans.
If this keeps going, we (daughters) will all be uncompensated care providers for our aging parents, even if we are women with 3 engineering degrees (me).
https://www.cnn.com/2025/03/07/politics/student-loans-education-trump/index.html
Much as I hate Musk, existing Tesla customers should not be punished for this
V e r y...... s l o o o w l y....
I’m sure they will destroy documents at Education as well, so it’s entirely plausible someone could “accidentally” destroy digital & physical student debt docs.
Doge will delete it themselves
Don’t live your lives regretting your biggest Jerk Store moment - do and say it all NOW!!!! 💙🇺🇸✊
https://abcnews.go.com/Technology/hacker-helped-fbi-break-anonymous/story?id=15864429#:~:text=%C2%97%20%2D%2D%20An%20influential%20computer%20hacker%20turned,former%20accomplices%2C%20helping%20federal%20agents%20make%20their
https://youtu.be/q3HQ1K52pTA?si=xuQqBCDoC9DiojJz
She now has it down to a manageable $35,000.
Loan sharkism.
Student loan debt it's a commitment.
Looks like in the real world it's just us.🥲
You are bunch of idiots.