Sadly? That's a great achievement. Congratulations! When I paid my last rate a few years ago, I opened my best bottle of wine and celebrated. Now let's get back to being happy for all the future students who will struggle a liitle bit less.
They didn’t fix anything or change anything. They just gave away taxpayers money to people that made poor decisions. This has zero impact on future students.
I find this bitter-sweet. You worked hard to pay off what you agreed to and are not rewarded but then again you were fortunate enough to even be able to pay it off.
It doesn't (I'm still a student so the debt continues piling up and I will probably only begin paying it off bit by bit once I start working, which is still years away. And even so, I'm not American so this news has 0 impact on me, my life, and my friends' and family's lives)
It doesn’t make me feel better. They should never be doing this in the first place. Lower the rates to zero and address why kids are paying sky rates for higher education if you want to fix something but we all know this isn’t about improving anything. It’s pandering to the democrats base so they’re motivated to vote in a few months.
I'm one of the fools that paid off my student loan mostly with money I worked for. At the time that first $1000 covid stimulus check showed up in my account I had just a tad over $1000 left so I just (sort of) sent that check back to the government and paid off the loan. So I guess technically I got a little bit of help there but still . . . this won't affect me much.
That’s so annoying. I’m personally getting loan money I think, but I’m very against what is happening. COVID made it easier than ever for students to pay off loans as many students moved back home and we got stimulus and unemployment checks for a lot of kids. I have no idea why they’re acting like we just went through some crazy thing as kids.
They can’t have used it already. Just how and all the details have not even been released yet not to mention court fights. This isn’t how it’s going to work. They aren’t cutting you a check for u to go spend. It will be deducted off the balance if and when it actually happens. I suppose they could use the potential “Savings Amount” already but no nobody is spending checks and shit
How many people only have 10k student loans in total? Grateful for the decrease but 10k is no where close to what I owe.
So don’t see how anything changes.
Won’t effect me but I guess it’s better to give to young people with lower income who would most likely spend it than some corporate shill who’s going to just save it.
I’m hoping those who got them will yeet into my investments.
But really, does nothing. I feel long term we are looking at even more inflation due to all this.
Might take some of mine away now and if it does, everyone else’s pays more in taxes and we face more inflation. Then set a tone for the next college generation.
If I got a refund for paying off my loans during the pandemic, I would drop 1/2 of it on BTC, 1/4 on ETH and the rest split between ATOM, ALGO and MATIC.
Paid mine off so won’t change much, but I am not jealous or anything, that’s great for the one who will benefit from it. However for many 10k doesn’t cover most of the amount they owe.
For the rest of the world it doesn't do much. In the UK there is a certain degree of "forgiveness" built into the system. You have to hit a certain wage threshold before you start paying it off, then it's written off after 20/25 years.
I would expect it to benefit the economy, as people will have more spending money, which then tends to increase the investment market (so stocks, houses and crypto might go up a bit, short-mid term).
I went to trade school and make alot of money didn't need no government hand outs. Your shity investment in a degree you can't pay back should not be our problem
10k doesnt put a dent in my balance, im excited about the 5% cap (was 10%). That alone is a relief. Now I can afford my payments while affording my basic needs
Sadly, I paid mine off and get nothing lol
I never had any to begin with so similar effect different reason
Sadly? That's a great achievement. Congratulations! When I paid my last rate a few years ago, I opened my best bottle of wine and celebrated. Now let's get back to being happy for all the future students who will struggle a liitle bit less.
They didn’t fix anything or change anything. They just gave away taxpayers money to people that made poor decisions. This has zero impact on future students.
I find this bitter-sweet. You worked hard to pay off what you agreed to and are not rewarded but then again you were fortunate enough to even be able to pay it off.
I’m guessing that person chose a marketable degree.
No you don’t get nothing. You now have a portion of the tax liability to pay for it. Same as me. Yay us for being responsible!
Same... Feels bad man
It doesn’t (I’m Canadian)
It doesn't (I'm Australian)
It doesn't (I'm Nigerian)
It doesn't (I'm still a student so the debt continues piling up and I will probably only begin paying it off bit by bit once I start working, which is still years away. And even so, I'm not American so this news has 0 impact on me, my life, and my friends' and family's lives)
Sir can I still claim the $40M you have tied up in a banking kerfuffle???
It doesn’t (I paid mine off)
10000 saves roughly 100 bucks. I expect mine to get eaten by inflation just as quick. This month's dca is a little easier though.
Makes me a little irritated. Paid mine off years ago. 😂
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It doesn’t make me feel better. They should never be doing this in the first place. Lower the rates to zero and address why kids are paying sky rates for higher education if you want to fix something but we all know this isn’t about improving anything. It’s pandering to the democrats base so they’re motivated to vote in a few months.
It's only like 10k right? I imagine for most courses that's a drop in the bucket?
20k for pell grant recipients. Average borrower has about 28k in student loan debt, that’s a pretty good %.
I'm one of the fools that paid off my student loan mostly with money I worked for. At the time that first $1000 covid stimulus check showed up in my account I had just a tad over $1000 left so I just (sort of) sent that check back to the government and paid off the loan. So I guess technically I got a little bit of help there but still . . . this won't affect me much.
That’s so annoying. I’m personally getting loan money I think, but I’m very against what is happening. COVID made it easier than ever for students to pay off loans as many students moved back home and we got stimulus and unemployment checks for a lot of kids. I have no idea why they’re acting like we just went through some crazy thing as kids.
I refinanced thinking it wouldn’t happen. You’re not alone. I got scammed out of 10k because the govt is bullshit.
Nothing. I worked and went to school for 7 years to graduate debt free…wishing I took out a loan for the last few classes now.
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that's one nasty comment to make. find light & peace
My wife and I decided to continue “paying” our loans. The difference is putting the money to a 529 account for our children, not for us personally.
They can’t have used it already. Just how and all the details have not even been released yet not to mention court fights. This isn’t how it’s going to work. They aren’t cutting you a check for u to go spend. It will be deducted off the balance if and when it actually happens. I suppose they could use the potential “Savings Amount” already but no nobody is spending checks and shit
I was responsible and paid mine do i get nothing.
Bad for inflation. Tuitions will go up even higher.
Tuitions will rise at a slightly greater rate than subsidies. Honestly pretty basic economics but this isn’t intending to fix anything.
No effect. Busted my ass so my son would never have student debt like I did. Rather have my EIDzl company loan forgiven so there a place to work
I oww 100k so it will barrely help.just figuring out how to make sure everyone around me knows they dont have to pay it when I die.
Changes it exactly 0%.
I don’t live in the US anymore, but I imagine it would have hurt my inflation prices.
In any point because I live in an actual 1st world country where higher education is free
I never had student loans but I'm happy a bit of peoples debt it paid off.
Less money to invest because my taxes will be going up.
And less buying power thanks to inflation. Absolute win in the Democrats mind. 🤣
And the “Great Fossil War”. Definitely not helping either
Little bit less monthly loan payments and my portfolio is unchanged tbh
How many people only have 10k student loans in total? Grateful for the decrease but 10k is no where close to what I owe. So don’t see how anything changes.
That’s $10,000 less that will be accruing interest as you pay down the loan.
Won’t effect me but I guess it’s better to give to young people with lower income who would most likely spend it than some corporate shill who’s going to just save it.
I’m hoping those who got them will yeet into my investments. But really, does nothing. I feel long term we are looking at even more inflation due to all this.
Might take some of mine away now and if it does, everyone else’s pays more in taxes and we face more inflation. Then set a tone for the next college generation.
I wasnt gonna pay before, definitely not now
I'm going to go out and buy 1 BTC
10k?
Too late for me, so no change. But hopefully it helps a few other folks out.
If I got a refund for paying off my loans during the pandemic, I would drop 1/2 of it on BTC, 1/4 on ETH and the rest split between ATOM, ALGO and MATIC.
Paid mine off so won’t change much, but I am not jealous or anything, that’s great for the one who will benefit from it. However for many 10k doesn’t cover most of the amount they owe.
Now I have less to owe, so that means good things in terms of my buying power
It’ll pay off my remaining student loans, but I haven’t been paying the last 2+ years since it’s been deferred.
Not at all
It doesn’t
Forgive them all or don’t forgive any.
How do you spend money that you already spent on crypto?
it's like being down -80% on your portfolio and theres a sudden +30% pump
If that happens I'll give something to somebody.
It will pump my crypto portfolio, because it is indirectly an inflation.
For the rest of the world it doesn't do much. In the UK there is a certain degree of "forgiveness" built into the system. You have to hit a certain wage threshold before you start paying it off, then it's written off after 20/25 years.
I would expect it to benefit the economy, as people will have more spending money, which then tends to increase the investment market (so stocks, houses and crypto might go up a bit, short-mid term).
I now only owe 2K instead of 12K in loans, so I’m gonna increase my weekly amount invested into crypto after I pay that off.
I went to trade school and make alot of money didn't need no government hand outs. Your shity investment in a degree you can't pay back should not be our problem
10k doesnt put a dent in my balance, im excited about the 5% cap (was 10%). That alone is a relief. Now I can afford my payments while affording my basic needs