Any advise on how to advocate for those who have been on PAYE for over 10 years with loans disbursement between 2011-2013? Help me understand how come we are being penalized. I pay 10% of my discretionary income, and an additional 5% is a significant amount of money. Who do can I contact? I'm 66.5 and went back for my Masters later in life.
Much appreciated
Beyond frustrated with having to move from PAYE 10% of discretionary to 15% in 2028.
byu/Fun-Outcome6980 inStudentLoans
Posted by Fun-Outcome6980
4 Comments
You should prepare for that change to come sooner than 2028, unfortunately.
So when the voters voted in a new legislature, that legislature made legislation that got rid of the plan. The way you advocate for change is to change the legislature and let your new reps know some proposed solutions.
Just out of curiosity, how are you getting 15%?
As a fellow PAYE enrollee, I agree that it’s super bogus for PAYE to be getting cut with SAVE.
Dont get me wrong at all – I have zero beef with SAVE and think it should get to stick around too, but PAYE has been around for TWELVE YEARS!
The republicans’ only beef with it is that it came from the Obama administration, and that’s not reason enough to nix such a well established and long running payment plan option.
I dont have any advise for either of us, but I’m riding with PAYE until they kick me off.