Repayments are not often calculated correctly by servicers (see /r/studentloans). There's no incentive for servicers to forgive anything.

30 years. This bill is indentured servitude.

Republicans continue to laugh in the face of middle-class pain.

Before I joined the Income-Based Repayment (IBR) plan, my monthly repayment was $700. I made $36,000 a year. After IBR, my payments were around $130 a month. Much more manageable.

25 years... no biggie, right?

I didn't know what I was getting into when I agreed to take on debt for law school. Now, I'm still paying off those loans... and it's been a nightmare.

Thankfully, in 2007, Congress saw the problem faced by borrowers.

- Removes subsidized loans for undergraduate borrowers, where the government covers interest on the loans while the borrower is still enrolled in school.

Do you trust an 18-year-old to understand the consequences of $38,270 in student debt per year of college? (Average cost of college in the USA)

Highlights:

-Income-based repayment will now require 30 yrs (up from 20-25) before forgiveness. This affects specific industries where wages are low (think: teachers, social workers, CNAs, etc.).

-Change the fundamental terms universities agree to when they participate in the federal loan program.

Correct. God forbid we actually help non-millionaire and billionaires!

I saw! 😭

Woo hoo, dude! Yeah, for me, the Biden Admin fixed incorrect calculations. But, I feel like any promise of “forgiveness” was a lie. The government purposely made it extraordinarily complicated for borrowers to overcome the administrative hurdles. The house always wins. ☹️

Just waiting for my nat 20 moment.

Yes, indeed! We saw it in the theaters and loved it!

Love our monthly DnD sessions!

Real heroes….also get out of bed, too. 🏆 Partial credit!

I’d probably just not eat eggs for awhile.

I can’t wait until my doctor prescribes healing crystals to treat my next sinus infection.

Well, that’s alarming.

Yes, indeed!