Anybody thinking that the pendelum will eventually swing back the other way? I am sure the power will swing back to the democrats, and loan forgiveness will once again be on the table for many of us. And this time they will make it stick. This trajectory for so many is simply unsustsinable. Or, is it just my unrealistic optimism?
Wait Out This Administration?
byu/TheePhrontistery inStudentLoans
Posted by TheePhrontistery
21 Comments
It all depends if people go out and vote
I mean it happened once, so it could certainly happen again.
That would require America to no longer be racist, sexist, or selfish. So no, I don’t believe things will swing the other way. this country is doomed.
I wasn’t willing to risk my future to the whims of politics.
But if I was I’m still not betting on another SAVE type shadow forgiveness actually sticking. The majority of people don’t have a college diploma. I don’t see it being popular enough for legislation, which leaves only Executive paths. Those are easily unwound
The real power in this country would never let that happen. Democrats have been in control of the Congress and Executive recently and didn’t get it done. What do you think will be different when they have power next time?
To really do a legally sound forgiveness program requires both branches of Congress and the Presidency to implement… and for student loans to be a high enough priority to act on during the first two years of that Democrat presidency since Congress often fully or partially flips during the mid-term elections.
Tall order.
I dont think a seriously different plan would exist under a different administration. Like slightly better but not some blanket foregiveness
the more you kick the can down the road, the worse it will get. i have loans too so i’m not just being a snarky asshole. pay what you can and uphold your part of the agreement (even if you were 18 and financially illiterate when you made that agreement).
We’ll see. Democratic politicians didn’t really get much juice out of how good Biden was for student loan borrowers. Other things could also dominate like the social security trust fund gap that will be depleted in 2032.
Why would you think loan forgiveness is on the table? And why are you focused on this instead of paying your loan off?
Brother you’re off the pipe if you think politicians on either aisle would ever wipe student loan debt. Like yeah, one side probably won’t make it *worse*, but blanket forgiveness is a pipe dream that isn’t copacetic with the realities of life.
Plus forgiveness exists in the form of PSLF etc, which for all the government cares is enough.
I don’t think that there will be any new forgiveness plans. Student loans affect many people, but inflation, healthcare, and housing affect more. I believe a new administration will focus on those issues before even considering any student loan forgiveness other than what currently exists. Just my opinion.
How are you planning on waiting it out though? By paying the absolute minimum every month or nothing at all?
Why do people on this sub unironically still think unilateral, blanket forgiveness is *ever* going to happen?
If the Dems wanted it done, they’ve had however many chances to do it. It’s not going to happen even with a super majority.
I don’t think it will happen. It’s not just up to the president. Biden’s student loan forgiveness plan was blocked by the Supreme Court and multiple lawsuits made by red states. They couldn’t even let us have the SAVE plan.
Hoping politicians are going to save you is unrealistic optimism. SCOTUS is not swinging back towards the Democrats anytime soon.
Student loan forgiveness is a winning policy position for any democrat in congress and the presidency. It’s a matter of political will by us constituents to keep them on it. There will be many losses along the way and it may take decades but if we decide we are committed to it I think it will happen.
I wouldn’t expect any significant reform for many more administrative cycles though.
Massive loan forgiveness isn’t happening. Obama’s first term was probably the best shot at it and they only cut the interest rates in half.
There have been discussions around forgiveness for decades now with little to no progress. It’s a pipe dream to expect massive forgiveness.
The will to spend that kind of political capital for a small segment of the population just isn’t there. You should plan accordingly.
Even if democrats control all three branches of government in 2029 and they all agree this is a top priority to pass some type of reform…
It’ll still get blocked by somebody suing in the United States District Court for the Northern District of Texas until it goes up to the conservative packed Supreme Court.
So you’ll effectively be waiting 7-8 years from now just for any reform to be ruled unconstitutional.
I think it will largely depend on the amount of people that default now due to the high new payments they weren’t expecting, along with inflation and affordability in life. If people become loud about it as they were prior to the Covid forbearance, I can see it. Some people have not had to recertify yet. Shit hasn’t hit the fan yet. Especially since gas is ungodly now, we’re about to see even higher prices
I’m not sure. It’s been much of the same ambivalent mishandling from all the administrations. My take, the system (the banks, student loan servicers, our own government) like a raccoon with a shiny object and though the wheels on the car are rattling off, they can not and will not let go because the stream of money from student loan holders. They have a rope around the neck of the indentured servants, so there is no consideration for the hypocrisy (farmers bailed out, PPP loans – for example) or the pain it causes. This is all going to get much worse before it gets better. Buckle up.