VulcanVulcanVulcan wrote:I'm curious how this affects the economics of PAYE, which a lot of biglaw types use to spread out loan payments. Does 30y/12.5% represent a much worse proposition than 20y/10%? Seems to be yes, in which case, what is the point of PAYE?
Breakeven on PAYE vs refi is probably around 150k. This change would just move that number higher, but plenty of people starting now will finish with well over 300k debt so it's still better than being stuck on a normal plan.
dresden doll wrote:It's going to be awesome to see this reintroduced time and time again for each of the next four (eight?) years.
The last DoD put out a proposal to cap PSLF at 57,500 like 3-4 years ago. Oceans rise, cities fall, fear of retroactive changes to loan forgiveness remains.