JTN-The Education Department announced Monday a proposal to cut undergraduate student loan repayments in half and stop unpaid interest from being charged.
While the Biden administration’s student loan forgiveness plan is stalling in court, the department is moving forward with restructuring loan repayments in line with the president’s executive order.
Right now, borrowers earning less than $20,400 annually do not have to make student loan payments and monthly payments are limited to 10% of a borrower’s discretionary income, according to the Associated Press.
The new plan would not require payments from borrowers making less thanΒ $30,600 a year and the monthly payments will be capped at 10% of a borrower’s income. more
Reward failure and get more of it.
How about if they make over $200k in their first 2 years out of college the whole loan is forgiven?
Make less than $30k and the payment doubles every 2 years.
You know, a little encouragement to get these lazy kids to set their expectations a bit higher than a part time job at Starbucks living out of parents basement. Why did they go to college in the first place, ffs.
I have more respect for someone who would shove a gun in my face than a worthless fucker who would vote for a proxy to rob on their behalf. The first will freely admit what they recognize, that they are nothing but a worthless thief. The second knows it, but will never admit it.
The first is far more likely to reform than the second. Neither have all that great a chance, given they have a political Party encouraging them and standing up against anyone who makes it their mission to bring them around. But as for the second that shrinks to insignificance. They are all but beyond redemption.
Well ecp beat me to it but, any college graduate earning less than $30k/yr made poor choices….
FJB
How about mortgages, bitches?
How bout shutting down the Education Department, pay off student loans with money saved? That otta shut the hell up.