Ever since the news of the VRA and Virginia SC, I’ve been worried about the possibility of the GOP keeping control of congress and getting rid of all IDR plans including RAP.
I’ve been planning on forgiveness (so paying the minimum and saving up for eventual tax bomb). This has caused my debt to balloon to the point where being forced into standard repayment would be impossible.
Does this seem likely or am I putting the cart in front of the horse?
Worried that all IDR plans will be eliminated
byu/Either-Connection-70 inStudentLoans
Posted by Either-Connection-70
3 Comments
If that was going to happen, it would have happened with the last bill they passed (OBBBA).
Things will definitely change over the years in regards to student loans but I don’t think you have to worry about the overall framework of IDR plans and loan forgiveness going away anytime soon.
There’s no logical reason to get rid of all income based repayment.
Getting rid of all IDRs would only mean far less people paying their student loans.