Like you would think we would be grandfathered in to the last plan we were legally contracted with. Also, why aren’t the months we were also forced into forbearance not counting towards IBR forgiveness? We are still aging, after-all. NAL, but this seems like it should be in breech of consumer protection laws. I know I am not alone in making major life decisions (in my case-actually getting married) based on the promise of the SAVE plan structure.
For those of us automatically moved into SAVE from REPAYE- can someone please explain why REPAYE isn’t an option for repayment, given that it was a legal plan for 10 years?
byu/heavylidded inStudentLoans
Posted by heavylidded
6 Comments
Because REPAYE no longer exists. REPAYE, with modifications, became SAVE, and to put it simply those modifications are why SAVE was determined to be “illegal”.
Turns out it was *never* legal.
They are sunsetting all plans that weren’t created by Congress, so they’re not going to revert back to REPAYE.
It should be, since the court ruling vacating the SAVE rule has the automatic effect of reinstating the regulations that were in place before the SAVE rule, and that was the REPAYE rule. But the current corrupt partisans running ED aren’t a big fan of following the law when that would benefit borrowers.
ETA: I’m not sure why I’m getting down votes on this. I’m a lawyer who does APA litigation for a living and have been doing so for years. It is well-settled legal precedent that, when a court vacates a regulation for being unlawful, it “ha[s] the effect of reinstating the rules previously in force . . . .” *Action on Smoking & Healrh v. C.A.B.*, 713 F.2d 795, 797 (D.C. Cir. 1983). Not my fault if ED wants to flout their own regulations (and the law) by refusing to re-initiate the REPAYE plan under the old REPAYE rule now that the modifications to it effected by the SAVE rule have been vacated.
Because the Republicans turned student loans into a battle in the culture war, and you were sacrificed for it.
I do find this whole thing entirely ironic. Trump never pays his debts.
Congress approves PPP loans, takes them out in their own names, and forgives it.
Tell me how making student loan payments affordable is somehow going to bankrupt the country.