Feds warn cops, firemen and teachers there’s no guarantee on student loan forgiveness - Social Anxiety Forum
 
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post #1 of 12 (permalink) Old 08-03-2017, 06:58 PM Thread Starter
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Feds warn cops, firemen and teachers there’s no guarantee on student loan forgiveness


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Public servants who’ve been told they’re eligible for a federal student loan forgiveness program have no guarantee that their debt will be wiped away, the Department of Education reiterated in a legal brief this week.

The brief, filed late Wednesday night, is part of a legal battle between four student loan borrowers, the American Bar Association and the government over the Public Service Loan Forgiveness Program (PSLF), an initiative that allows borrowers doing nonprofit or government work to have their federal student loans forgiven after at least 10 years of payments.

Teachers, social workers and others interested in taking advantage of PSLF often organize their entire financial lives and careers around the program. The only way for them to know whether they’re on track for forgiveness is to file a document known as an employment certification form, or ECF.

Borrowers file the ECF form with their servicer over the course of their 10 years of work to determine whether they’re on track for forgiveness. The plaintiffs allege that — after receiving forms indicating they qualified and were on track for forgiveness — the government improperly reversed course. In the brief filed Wednesday, lawyers for the Department write that the ECF forms were only an initial determination and that borrowers shouldn’t rely on the form as a guarantee their loans will be forgiven after 10 years of payments.

http://www.marketwatch.com/story/fed...ess-2017-08-02
Yet another Trump and Betsy Devos disaster, surprised nobody has said anything.
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post #2 of 12 (permalink) Old 08-04-2017, 12:10 PM
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I'd say the disaster is more caused by the million dollar salaries of University administrators.

And, just in my own opinion, I think there is something wrong in the world when people actually expect not to pay back the full amount on a loan.

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post #3 of 12 (permalink) Old 08-04-2017, 01:53 PM
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Originally Posted by Micronian View Post
I'd say the disaster is more caused by the million dollar salaries of University administrators.

And, just in my own opinion, I think there is something wrong in the world when people actually expect not to pay back the full amount on a loan.

Or the lack government funding to Universities. How much in tuition/fees did you per year when you attended Uni in Canada? From a quick google search, it looks like it's currently anywhere from 50-70% cheaper than the US.

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post #4 of 12 (permalink) Old 08-04-2017, 02:05 PM
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Or the lack government funding to Universities. How much in tuition/fees did you per year when you attended Uni in Canada? From a quick google search, it looks like it's currently anywhere from 50-70% cheaper than the US.
way cheaper. I remember the total amount I had to pay back was $28,000. That would be about 6,000 per year, maybe $7,000 after all was said and done (food, rent, booze, etc).

In contrast, I remember asking about costs to go to Penn State University back in 2000, and it was about USD $45,000 for only one year. A summer job wouldn't come close to covering even one month of expenses.

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post #5 of 12 (permalink) Old 08-04-2017, 02:21 PM
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Oh god it just never ends.

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post #6 of 12 (permalink) Old 08-04-2017, 02:34 PM
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Oh god it just never ends.
The entitlement or the responsibilities? I'm not sure what you meant.
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post #7 of 12 (permalink) Old 08-04-2017, 09:18 PM
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Aye, don't the governments have lots of funds for terrorist attacks, because it seems the twin towers wasn't a work of an amateur, more like a work of someone professional that can outsmart the planet and they knew the scene before the time of the program. !Impossible! I can just imagine when one of the pros came out those two buildings, they had a short conversation with a kid looking at the watch, and telling the kid "you see those twin towers and airplanes, that's going to help benefit this planet's future for complete control". When the airplane hit the towers, the guy said that was a dirty genius plan, and vanish into thin air like a ghost in front of the kid with a veteran echo laugh.

I can't take these news articles seriously, because it's written so poorly. I'm just mocking it....

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post #8 of 12 (permalink) Old 08-06-2017, 07:02 AM
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It sucks. But if you work at one of these jobs and you were expecting a loan forgiveness, this shouldn't be a surprise.

Because my job qualified I did read the fine print.

There was always a catch. Basically you would have to continue making steady payments to your student loans for like 7 years or something, then after that the government MIGHT pay off the rest (I believe other requirements need to be met).

I loved the idea, and I'm an Obama supporter, but even as I read that I thought "But Obama will be out of office before the first person can qualify. That means it will be up to the next President to honor a deal Obama made."

I'm not sure Hillary would have honored the deal, but come on did anyone think Trump would?

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post #9 of 12 (permalink) Old 08-06-2017, 07:26 AM
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Originally Posted by EmotionlessThug View Post
Aye, don't the governments have lots of funds for terrorist attacks, because it seems the twin towers wasn't a work of an amateur, more like a work of someone professional that can outsmart the planet and they knew the scene before the time of the program. !Impossible! I can just imagine when one of the pros came out those two buildings, they had a short conversation with a kid looking at the watch, and telling the kid "you see those twin towers and airplanes, that's going to help benefit this planet's future for complete control". When the airplane hit the towers, the guy said that was a dirty genius plan, and vanish into thin air like a ghost in front of the kid with a veteran echo laugh.

I can't take these news articles seriously, because it's written so poorly. I'm just mocking it....
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post #10 of 12 (permalink) Old 08-06-2017, 11:29 AM
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Originally Posted by knightofdespair View Post
Yet another Trump and Betsy Devos disaster, surprised nobody has said anything.
But I thought Hillary and Trump were both the same, and that there wasn't any point of going out to vote because Bernie got robbed by the DNC....

Do you mean people should have actually bothered to go out and vote, so that we might have still have had an EPA, FDA, FCC, SEC, HUD etc....

Don't worry, Trump cares about the little people, he will forgive their student loans....

Millennials better start working double shifts at Burger King to pay off their student loans....

And hope that they don't get sick....

Karma is a b*tch....
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post #11 of 12 (permalink) Old 08-06-2017, 11:46 AM
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'Omfg I can't believe I used someone elses money to do something and now I am expected to pay it back. Fix this pls government.'

I mean really, a capitalist society in which we are expected to return what we borrow.

What's wrong with running away from reality if it sucks?

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post #12 of 12 (permalink) Old 08-06-2017, 02:08 PM
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Quote:
Originally Posted by CloudChaser View Post
'Omfg I can't believe I used someone elses money to do something and now I am expected to pay it back. Fix this pls government.'

I mean really, a capitalist society in which we are expected to return what we borrow.
They should probably just sue if we treat it like a business. Let's face it most aren't getting their money's worth from university, and there is a certain amount of false advertisement going on too especially in the UK, but I expect that to gradually fix itself in years to come.

That being said, you don't have to pay it back in the UK until you're earning over a certain amount yearly so at least they realise. And if they'd cared, they'd have to change the way university education worked and create school programs that don't try to trick people into attending uni based on rigorous flawed propaganda (which they absolutely do, or at least did when I was in school.) Though of course I do think degrees are the new a-level now really, so you're kind of damned if you do, damned if you don't.

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