PSLF revisions: New budget proposal screws anyone in PI. Forum

[worldtraveler]

I got a response from the Dept. of Ed. budget office today.

The take away was that it's just a proposal, but if Congress enacted this proposal, it'd limit everyone's PSLF to the independent undergraduate student cap including former graduate students.

So it is retroactive?

Time to form a new political party.

[kay2016]

I got a response from the Dept. of Ed. budget office today.

The take away was that it's just a proposal, but if Congress enacted this proposal, it'd limit everyone's PSLF to the independent undergraduate student cap including former graduate students.

So it is retroactive?

Time to form a new political party.

[jaydizzle]

If anything like this passes in the next 10 years, and if it is retroactive I will flip my shit.

[hdunlop]

Numbers don't lie.

[hausmaus]

I got a response from the Dept. of Ed. budget office today.

The take away was that it's just a proposal, but if Congress enacted this proposal, it'd limit everyone's PSLF to the independent undergraduate student cap including former graduate students.

So it is retroactive?

Time to form a new political party.

Yeah, retroactive. Which sounds right to me unfortunately because, as others have pointed out, no one is "on" PSLF.

I guess it's time to take to the streets now.

[jaydizzle]

They really should honor their promise to current borrowers and then institute this. How awful.

[kay2016]

They really should honor their promise to current borrowers and then institute this. How awful.

Yes unsurprising.

[hdunlop]

Stop. As I said above, the Department of Ed has already clarified through individuals that the proposal is NOT retroactive. Official statements of confirmation are forthcoming.

OK, sorry. I must have missed where you said that above. I look forward to the official word.

Edit to note huge mandatory savings starting in 2017 and ramping up hard on page 18 (Table S-9, "Expand and reform student loan income-based repayment"). I'm truly curious about this.

Glad that's settled. Let's once again focus on how this isn't a serious proposal, it's a budget gimmick to pay for other proposals.

[jaydizzle]

I have been trying to get everyone to sign the White House petition.

[kay2016]

Stop. As I said above, the Department of Ed has already clarified through individuals that the proposal is NOT retroactive. Official statements of confirmation are forthcoming.

OK, sorry. I must have missed where you said that above. I look forward to the official word.

Edit to note huge mandatory savings starting in 2017 and ramping up hard on page 18 (Table S-9, "Expand and reform student loan income-based repayment"). I'm truly curious about this.

Glad that's settled. Let's once again focus on how this isn't a serious proposal, it's a budget gimmick to pay for other proposals.

Some of the PI folks at my school shared the petition on their fb page. The petition is actually getting a decent amount of signatures.. But not even close yet

[MKC]

Stop. As I said above, the Department of Ed has already clarified through individuals that the proposal is NOT retroactive. Official statements of confirmation are forthcoming.

OK, sorry. I must have missed where you said that above. I look forward to the official word.

Edit to note huge mandatory savings starting in 2017 and ramping up hard on page 18 (Table S-9, "Expand and reform student loan income-based repayment"). I'm truly curious about this.

Glad that's settled. Let's once again focus on how this isn't a serious proposal, it's a budget gimmick to pay for other proposals.

Some of the PI folks at my school shared the petition on their fb page. The petition is actually getting a decent amount of signatures.. But not even close yet

You're going to get past other important issues, like the petition to deport Bieber.

[bjsesq]

Dem Senator is not happy about the retroactive shit. Is getting on board with the limit (wants to stop institutional rent seeking), but he is ranting about removing after the fact. No idea if this is to appease me or he actually believes it, so take it with a grain of salt.

[timbs4339]

I was reading Heather Jarvis' take on this issue and it looks like no changes will be happening soon as Obama's proposal seems unlikely to pass. Further, she emphasizes that this proposal would impact new borrowers, not current students or grads. So I'm guessing that this would effect mainly kids without student loan debt going into law school or newly minted college freshmen? I'm hoping this means that as a 0L without student loan debt, I can still take advantage of PSLF as is so long as nothing is passed by August? Might just be wishful thinking though lol

Who is Heather Jarvis, does she have a legal argument as to why Congress can't retroactively change the policy (other than "don't worry guys, I'm sure a Republican Congress won't take the opportunity to screw over young government workers to save money"), and why should we believe her?

[worldtraveler]

If anyone has sympathetic boomer parents, get them to contact your elected representatives. They listen to boomers more because they know we don't vote as much.

[Nomo]

I got a response from the Dept. of Ed. budget office today.

The take away was that it's just a proposal, but if Congress enacted this proposal, it'd limit everyone's PSLF to the independent undergraduate student cap including former graduate students.

Could you copy and paste the text of that email for us?

I've emailed the white house and my senators, but total silence so far.

[LSL]

If anyone has sympathetic boomer parents, get them to contact your elected representatives. They listen to boomers more because they know we don't vote as much.

This is a good call. Especially for those who will be supporting their boomer parents who didn't save for retirement.

[ggocat]

It's about damn time the blank check ends.

[patogordo]

It's about damn time the blank check ends.

BRAVERY OVERLOAD

[cron1834]

If anyone has sympathetic boomer parents, get them to contact your elected representatives. They listen to boomers more because they know we don't vote as much.

This is a good call. Especially for those who will be supporting their boomer parents who didn't save for retirement.

If this is you, my condolences. Talk about getting DPed by ITE...

[dallaseagle]

If anyone has sympathetic boomer parents, get them to contact your elected representatives. They listen to boomers more because they know we don't vote as much.

This is a good call. Especially for those who will be supporting their boomer parents who didn't save for retirement.

If this is you, my condolences. Talk about getting DPed by ITE...

please translate for those of us who only scored in the 160s on our LSAT kthnx

[cron1834]

Double penetrated by "in this economy," ie tough job climate plus aging boomers to look after. Brutal.

[LSL]

If this is you, my condolences. Talk about getting DPed by ITE...

Not 100% sure how my parents finances will shake out, but we all know that's going to be a problem for a decent number of people.

bjsesq, did the Senator seem to think on his own that it's going to be retroactive? I wasn't sure if that was something you mentioned to him based on the email hausmaus said. I'm not ready to believe it would be retroactive even with that email from the Dept. of Ed without more people confirming it.

[worldtraveler]

Got a letter from my LRAP program basically saying they know this screws us over and will "work with us" about it. Really no idea what to expect at this point.

[bjsesq]

If this is you, my condolences. Talk about getting DPed by ITE...

Not 100% sure how my parents finances will shake out, but we all know that's going to be a problem for a decent number of people.

bjsesq, did the Senator seem to think on his own that it's going to be retroactive? I wasn't sure if that was something you mentioned to him based on the email hausmaus said. I'm not ready to believe it would be retroactive even with that email from the Dept. of Ed without more people confirming it.

His office wasn't sure. I mentioned the email, and his staffer said that they take issue with retroactively stripping people of money promised to them. Again, I don't know if they were appeasing me or not, so I very likely learned dick I didn't know already.

[LSL]

If this is you, my condolences. Talk about getting DPed by ITE...

Not 100% sure how my parents finances will shake out, but we all know that's going to be a problem for a decent number of people.

bjsesq, did the Senator seem to think on his own that it's going to be retroactive? I wasn't sure if that was something you mentioned to him based on the email hausmaus said. I'm not ready to believe it would be retroactive even with that email from the Dept. of Ed without more people confirming it.

His office wasn't sure. I mentioned the email, and his staffer said that they take issue with retroactively stripping people of money promised to them. Again, I don't know if they were appeasing me or not, so I very likely learned dick I didn't know already.

Gotcha, thanks, bjsesq. At least you were able to get a reaction from someone so you know it wasn't just written down by an aide and forgotten.

I'm glad to hear schools are starting to lobby against it. I'll be calling mine to get them on it. WT, that's crazy. So, your school seems to think it's retroactive then? Or are they just prepping for the possibility?