Current Events > It's official: Student loan payments will restart in October

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BlueTigerLion
06/20/23 6:32:42 PM
#1:


https://www.cnbc.com/2023/06/20/its-official-student-loan-payments-will-restart-in-october.html

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MICHALECOLE
06/20/23 6:34:18 PM
#2:


Great job republicans
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NatsuSama
06/20/23 6:35:11 PM
#3:


I'd argue it was official when the debt ceiling deal was made.

The only thing in question now still is will the Supreme Court block is the 10 to 20k debt forgiveness.

I'm just kidding, we already know they will block it.

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Solar_Crimson
06/20/23 6:35:51 PM
#4:


It's amazing how they made this into such a huge issue.


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PenultmateGohan
06/20/23 6:36:16 PM
#5:


So is the loan forgiveness not happening at all now confirmed? Not worried just wondering.
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Starks
06/20/23 6:37:02 PM
#6:


I hope people have been budgeting for their debts that they have always owed.

I'm done with my refinanced loans in a few months.

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NatsuSama
06/20/23 6:37:10 PM
#7:


PenultmateGohan posted...
So is the loan forgiveness not happening at all now confirmed? Not worried just wondering.
Not until the Supreme Court decides. So it's still on the table atm.

Although we can already guess what their decision will be.

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Intro2Logic
06/20/23 6:37:11 PM
#8:


Shoulda minted the coin

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BignutzisBack
06/20/23 6:39:04 PM
#9:


Oof, the people who didn't pay anything during the years it was paused have to be sick right now. I understand their line of thinking as i I really thought the forgiveness would go through, but they lost a ton of chances to pay it down/off interest free.

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thronedfire2
06/20/23 6:39:50 PM
#10:


I've been paying mine the whole time anyway.

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tremain07
06/20/23 6:39:59 PM
#11:


A lot of lives will and have been ruined by this the cruelty is the point.

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PeteyParker
06/20/23 6:40:06 PM
#12:


MICHALECOLE posted...
Great job republicans


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#13
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#14
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SaikyoStyle
06/20/23 6:52:25 PM
#15:


[LFAQs-redacted-quote]

I did the same thing but with a couple of ETFs.

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Starks
06/20/23 6:56:02 PM
#16:


The time to refinance was years ago when you could get 3.15% or lower.

And then there were the vultures like First Republic Bank that would undercut at 1.5% if you applied in person at their NYC office. That turned out well for them, didn't it?

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DarthAragorn
06/20/23 6:57:00 PM
#17:


Just one more item in the mountain of reasons I'll never vote for a republican in my life

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wanderingshade
06/20/23 6:57:21 PM
#18:


What happened to that bullshit about adding extra interest because of the pause?

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BignutzisBack
06/20/23 6:57:49 PM
#19:


[LFAQs-redacted-quote]


Ahh that is a good strategy as well

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Cheetaluv
06/20/23 6:58:51 PM
#20:


Good.

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Shishiwakamaru
06/20/23 6:59:55 PM
#21:


Starks posted...
And then there were the vultures like First Republic Bank that would undercut at 1.5% if you applied in person at their NYC office. That turned out well for them, didn't it?

What happened to your loans if you did that?

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Will_VIIII
06/20/23 7:01:20 PM
#22:


Should reverse the PPP loan forgiveness while we're at it then.

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Starks
06/20/23 7:01:50 PM
#23:


Shishiwakamaru posted...
What happened to your loans if you did that?
Likely transferred to JPMorgan Chase

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Jackal4
06/20/23 7:02:52 PM
#24:


Oh no! People have to abide by the terms they vountarily agreed to when they took the loan. The horror!

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Will_VIIII
06/20/23 7:03:50 PM
#25:


Jackal4 posted...
Oh no! People have to abide by the terms they vountarily agreed to when they took the loan. The horror!

Will_VIIII posted...
Should reverse the PPP loan forgiveness while we're at it then.


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Anarchy_Juiblex
06/20/23 7:05:51 PM
#26:


Will_VIIII posted...
Should reverse the PPP loan forgiveness while we're at it then.

Yes we should.

And criminally prosecute the untold number of fraud cases around it.

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ZMythos
06/20/23 7:06:01 PM
#27:


One of the few things keeping Biden popular with younger voters.

He needs to have some kind of backup ready because this is gonna anger millions of people.

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NatsuSama
06/20/23 7:07:32 PM
#28:


Jackal4 posted...
Oh no! People have to abide by the terms they vountarily agreed to when they took the loan. The horror!
Time to reverse the PPP forgiveness then?

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loafy013
06/20/23 7:08:00 PM
#29:


Jackal4 posted...
Oh no! People have to abide by the terms they vountarily agreed to when they took the loan. The horror!
So you agree, bankruptcy should no longer be a thing and every person and business that has declared it should be forced to pay it back in order to honor the original contracts they signed.

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#30
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#31
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NatsuSama
06/20/23 7:15:43 PM
#32:


ZMythos posted...
One of the few things keeping Biden popular with younger voters.

He needs to have some kind of backup ready because this is gonna anger millions of people.
If younger voters stay home over this, they would only be proving peoples point on them not voting and wondering why shit doesn't get fixed.

Biden passing this was always a long shot.
You have to vote in ALL elections. Not just the 1 or 2 elections they decided to participate in and think just because you vote once or twice, magically everything can be fixed.

The party you voted for actual needs the numbers in all chambers of Congress, and the WH to pass anything. They also need to keep those numbers so it cant be reversed.

That and if 1 to 2 Democrats obstruct shit not equate it to 90% of the party or cling to shit from a decade plus ago in the name of "both sides bad."

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Autocraticus
06/20/23 7:16:21 PM
#33:


MICHALECOLE posted...
Great job republicans

Biden knew it would never go through.
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#34
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ZMythos
06/20/23 7:20:45 PM
#35:


NatsuSama posted...
If younger voters stay home over this, they would only be proving peoples point on them not voting and wondering why shit doesn't get fixed.
That's an interesting way of saying "Younger voters put Biden in office and he's not delivering on his promises to them."

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NatsuSama
06/20/23 7:28:26 PM
#36:


ZMythos posted...
That's an interesting way of saying "Younger voters put Biden in office and he's not delivering on his promises to them."
That's an interesting way to prove my point.

You don't understand how government actually works.

Campaign promise was blocked by legal means on how the United States Government works. In short, Republican had the numbers to block Bidens promise that he made an honest effort to deliver on.

Staying home next election, or promoting others to stay home claiming "hE dIdNt DeLiVeR" while ignoring WHY it wasnt able to happen proves my point of not understanding how government works.

It's same type of people baffled and confused how and why Roe v Wade was overturned.

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#37
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NatsuSama
06/20/23 7:32:51 PM
#38:


[LFAQs-redacted-quote]

Sad but true. Their main goal is to reach voters who dont vote every election and swing voters.

All to convince them of the reasons you just laid out perfectly.

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Gwynevere
06/20/23 7:35:15 PM
#39:


That just means I'll be buying less shit. Which I already don't do a lot of anyway outside of food and pharmaceuticals. I imagine a lot of others will do the same, which I'm sure will be quite good for the economy or whatever

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KaZooo
06/20/23 8:39:25 PM
#40:


This freeze kinda saved me the past years.

I'm debating throwing in a payment to take advantage of the interest.

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gamerofNS
06/20/23 8:48:12 PM
#41:


MICHALECOLE posted...
Great job republicans
Time for a class-action lawsuit, maybe? Wouldn't that be nice, suing Republicans out of existence?
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streamofthesky
06/20/23 9:04:33 PM
#42:


Good!

Will_VIIII posted...
Should reverse the PPP loan forgiveness while we're at it then.

NatsuSama posted...
Time to reverse the PPP forgiveness then?

Sure. I'd be totally in favor of that. Are Democrats actually pushing for this? They should be.
FYI, I was also mad that IRS funding got cut in the "compromise". I want the rich ass holes to pay their fair share, too. If only Dems fought harder for it.

loafy013 posted...
So you agree, bankruptcy should no longer be a thing and every person and business that has declared it should be forced to pay it back in order to honor the original contracts they signed.
Student loans explicitly are near-impossible to discharge in bankruptcy. Those are the terms those loans were made under, and the only reason such ludicrously large amounts of money were given to people w/ little to no credit history and collateral.
It's extremely disingenuous to compare that to loans where the prospect of bankruptcy is included and thus limits the amount to be lended (and often also includes repossession of homes, cars, office buildings, etc...).

Mind you, student loans should be dis-chargeable in bankruptcy. I'd love it if every new student loan could be... why? Because then the amounts of those loans would be massively reduced, students couldn't afford the ludicrous amounts these luxury colleges charge b/c they can get away with it, and the root of the entire fucking problem would be fixed.
Democrats used to fight to fix the root issue. But now they're too steeped in w/ moneyed college interests that like the endless flow of easy money, so instead of fighting to change how student loans are made, they just want to give some token hand outs to keep the corrupt system rolling along.

And yes, Republicans have always been awful. I don't even expect them to fix anything, I just vote against them and hope they fall out of power. It's frustrating that the party I vote in to fix shit doesn't actually fix it.
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MonkeyBones23
06/20/23 9:22:17 PM
#44:


So how is it going to work with the interest? Are they adding in all the accumulated interest or no?

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EDF-5
06/20/23 9:23:26 PM
#45:


This is pretty bad because gen z biden approval is down by half as a result
If it doesn't rectify it's doubtful he wins a general election without their votes
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tripleh213
06/20/23 9:28:01 PM
#46:


This is going to hurt Biden

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YoBlazer
06/20/23 9:28:43 PM
#47:


Sucks for students who'll be hit with payments for the first time, but the last three years was a jackpot for people who qualify for public service loan forgiveness (like my brother). They haven't made payments in like 40 months, but that entire time still gets applied toward their 120 months of service.

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emblem-man
06/20/23 9:33:00 PM
#48:


YoBlazer posted...
Sucks for students who'll be hit with payments for the first time, but the last three years was a jackpot for people who qualify for public service loan forgiveness (like my brother). They haven't made payments in like 40 months, but that entire time still gets applied toward their 120 months of service.
And for those who got their loans forgiven from those scam for profit schools.

A lot of student loan cancellation has been done. It'll be ignored by lots of people though
https://gamefaqs.gamespot.com/a/user_image/2/7/4/AADgb_AAElCS.jpg

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Nasty_Nitro
06/20/23 9:34:28 PM
#49:


Jackal4 posted...
Oh no! People have to abide by the terms they vountarily agreed to when they took the loan. The horror!

Why arebt those PPP loans looked at like this tho?


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Heineken14
06/20/23 9:34:53 PM
#50:


Nasty_Nitro posted...


Why arebt those PPP loans looked at like this tho?



Because those were for rich people, who can afford socialism.

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Prismsblade
06/20/23 9:35:28 PM
#51:


Hopefully most were able to take advantage of this once in a lifetime opportunity to pay down their loans.

If not and they blew it on just boosting their life styles and ignoring the payments then tough luck.

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