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applegrove

(125,785 posts) Sat Apr 26, 2025, 11:36 PM Saturday

"This is why the student loan bubble is about to burst. I feel bad for this woman--but she freaking nails it". 🔥

Last edited Sun Apr 27, 2025, 12:09 AM - Edit history (1)

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This is why the student loan bubble is about to burst. I feel bad for this woman—but she freaking nails it. 🔥

5 replies

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"This is why the student loan bubble is about to burst. I feel bad for this woman--but she freaking nails it". 🔥 (Original Post) applegrove Saturday OP

If eligible, she needs to apply for income-driven repayment. It is, unfortunately, the best option available. Silent Type Saturday #1

I think she has been on that plan for years. applegrove Yesterday #2

Then, after making payments for 20 or 25 years on time, any balance will be forgiven. And, Silent Type Yesterday #3

Oh I was not familiar with those details. I'm in Canada applegrove Yesterday #4

Just wondering if she read the terms when she borrowed the money bottomofthehill Yesterday #5

Silent Type

(9,057 posts)

1. If eligible, she needs to apply for income-driven repayment. It is, unfortunately, the best option available.

Reply to applegrove (Original post)

Sat Apr 26, 2025, 11:40 PM

Saturday

applegrove

(125,785 posts)

2. I think she has been on that plan for years.

Reply to Silent Type (Reply #1)

Sun Apr 27, 2025, 12:06 AM

Yesterday

Silent Type

(9,057 posts)

3. Then, after making payments for 20 or 25 years on time, any balance will be forgiven. And,

Reply to applegrove (Reply #2)

Sun Apr 27, 2025, 12:20 AM

Yesterday

there are even provisions to allow for unemployment, hardships, etc., that affect timeliness.

I’m not saying that’s ideal, but it’s a pretty good deal under current laws. But not all loans qualify.

applegrove

(125,785 posts)

4. Oh I was not familiar with those details. I'm in Canada

Reply to Silent Type (Reply #3)

Sun Apr 27, 2025, 12:25 AM

Yesterday

and the government still pays 2/3 of our university costs. 100% if you are indigenous.

bottomofthehill

(9,134 posts)

5. Just wondering if she read the terms when she borrowed the money

Reply to applegrove (Original post)

Sun Apr 27, 2025, 01:20 AM

Yesterday

I am all in favor of paying back what you borrowed with a small administrative fee to rover the servicing of the loan. Not debt forgiveness but surly the government does not need to be charging 7 plus percent on a student loan, pay what you owe.

On the other hand, we borrowed the money knowing the terms and made decisions in life on schools, jobs, housing and other stuff based on the terms.

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