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

[cinephile]

I know when I was starting there was the belief that anyone who wanted a 2L SA could get one, so a lot of people subtracted about 30k from their COA. I attend admitted students weekends and I can assure you that everyone still believes that, despite what our placement stats might say, and a not insignificant number believe that they'll get a 1L SA too. The perception is that the people who don't get biglaw didn't want it to begin with (BU is trying to market itself now as a public interest school). So if you think your COA is 60k less than it actually is, then you're not even thinking of relying on IBR/PAYE.

[Kronk]

Guyz, can you quit bumping this thread I have a heart attack every time there is an orange sticky

tyia

[Young Marino]

Guyz, can you quit bumping this thread I have a heart attack every time there is an orange sticky

tyia

I agree Kronk. I don't think any changes are happening to pslf anytime soon. According to the language in the proposal, it seems that only those of c/o 2018 and up would be affected.

[linkx13]

Take a look at number 5

http://studentaid.ed.gov/sites/default/ ... stions.pdf

Just saying...

[linkx13]

Take a look at number 5

http://studentaid.ed.gov/sites/default/ ... stions.pdf

Just saying...

Also worth reading...

http://www.educatedrisk.org/news/ed-sho ... y-you-earn

[buffalo_]

Take a look at number 5

http://studentaid.ed.gov/sites/default/ ... stions.pdf

Just saying...

Well this is just dandy.

[kay2016]

Take a look at number 5

http://studentaid.ed.gov/sites/default/ ... stions.pdf

Just saying...

Well this is just dandy.

That's always been there.. Hasn't been recently added or anything so it's not a bad sign, just not a good one.

[linkx13]

Take a look at number 5

http://studentaid.ed.gov/sites/default/ ... stions.pdf

Just saying...

Well this is just dandy.

That's always been there.. Hasn't been recently added or anything so it's not a bad sign, just not a good one.

Hard not to view it as a bad sign, even more so if the document isn't recent. I'd imagine that part of the defense of people screwed over by a change in policy to PSLF will be a general claim that the government made a promise and is now effectively pulling the rug out from under unsuspecting borrowers. It gets harder to claim that if the government can point to to anything that says they knew the risks from the very beginning (i.e. something like this).

[buffalo_]

Take a look at number 5

http://studentaid.ed.gov/sites/default/ ... stions.pdf

Just saying...

Well this is just dandy.

That's always been there.. Hasn't been recently added or anything so it's not a bad sign, just not a good one.

Nobody is even really in PSLF yet, right? I think you need to work 10 years out of schools to be eligible for PSLF and the policy was only adopted in 2007. Wouldn't it be just great if the government used #5 to justify eliminating PSLF due to how much it costs before PSLF actually costs anybody a dime?

[Kronk]

Guys. Shut the fuck up already.

[Young Marino]

Take a look at number 5

http://studentaid.ed.gov/sites/default/ ... stions.pdf

Just saying...

Also worth reading...

http://www.educatedrisk.org/news/ed-sho ... y-you-earn

After reading through a few other articles on educatedrisk.org, it seems there would be a lot of hoops to jump through for the ED Department to significantly change PLSF. The program may not stay in its current form eventually but I would say that no serious changes are going to be made until Obama is out of office at least. Read the article "Is Public Service Loan Forgiveness for real" on the site. It clears up a lot of stuff and really details how difficult it could be for congress to make any retroactive changes for current borrowers

[hdunlop]

Nobody is even really in PSLF yet, right? I think you need to work 10 years out of schools to be eligible for PSLF and the policy was only adopted in 2007. Wouldn't it be just great if the government used #5 to justify eliminating PSLF due to how much it costs before PSLF actually costs anybody a dime?

Right and this is what makes it a perennial discussion item in deficit reduction supercommittee negotiations, though it's always thus far been dismissed for reasons this thread makes abundantly clear.

[kay2016]

--LinkRemoved--

[Tanicius]

http://obamairl.tumblr.com/ask

I don't get it.

[A. Nony Mouse]

http://obamairl.tumblr.com/ask

I don't get it.

It's an opportunity to ask Obama questions about education and student loan debt which he'll answer on June 10. So people could ask about PSLF and his intentions etc.

[Tanicius]

http://obamairl.tumblr.com/ask

I don't get it.

It's an opportunity to ask Obama questions about education and student loan debt which he'll answer on June 10. So people could ask about PSLF and his intentions etc.

I'll save us all the trouble. Here's how he will respond:

"Thanks, Khaleesi1234. That's an excellent question -- and one I hoped I would have the opportunity to answer. You know, education is important -- and no less so for our graduates of professional programs who end up going into public service. I -- was once -- in your shoes. And folks, you know -- You know, it isn't all about making a money. I can tell you that much. So, I want to take this time to thank our young graduates who are going out into the world, and making something of their communities, and their families, and their legacies -- not just themselves. I stand strong and proud with those among us who want to give back to the world and their communities. In my final years as President, I can promise you that my opinion on this -- important -- issue... will not change. Thank you for the question."

[dresden doll]

http://obamairl.tumblr.com/ask

I don't get it.

It's an opportunity to ask Obama questions about education and student loan debt which he'll answer on June 10. So people could ask about PSLF and his intentions etc.

Has the administration done anything beyond putting this item on their budget wishlist? If not, not really seeing the point of dredging it up at this point

[kay2016]

http://obamairl.tumblr.com/ask

I don't get it.

It's an opportunity to ask Obama questions about education and student loan debt which he'll answer on June 10. So people could ask about PSLF and his intentions etc.

Has the administration done anything beyond putting this item on their budget wishlist? If not, not really seeing the point of dredging it up at this point

Not yet, but they're announcing the expansion of PAYE on Monday... Which will increase "costs" in the budget.. getting rid of forgiveness or extending the time is the easiest way to offset those costs. Not saying it will happen, but just throwing it out there.

[dresden doll]

Not yet, but they're announcing the expansion of PAYE on Monday... Which will increase "costs" in the budget.. getting rid of forgiveness or extending the time is the easiest way to offset those costs. Not saying it will happen, but just throwing it out there.

Understood. Ugh.

[A. Nony Mouse]

http://obamairl.tumblr.com/ask

I don't get it.

It's an opportunity to ask Obama questions about education and student loan debt which he'll answer on June 10. So people could ask about PSLF and his intentions etc.

I'll save us all the trouble. Here's how he will respond:

"Thanks, Khaleesi1234. That's an excellent question -- and one I hoped I would have the opportunity to answer. You know, education is important -- and no less so for our graduates of professional programs who end up going into public service. I -- was once -- in your shoes. And folks, you know -- You know, it isn't all about making a money. I can tell you that much. So, I want to take this time to thank our young graduates who are going out into the world, and making something of their communities, and their families, and their legacies -- not just themselves. I stand strong and proud with those among us who want to give back to the world and their communities. In my final years as President, I can promise you that my opinion on this -- important -- issue... will not change. Thank you for the question."

Oh, sure, but it still seemed perfectly reasonable for someone to post the link here, in case you want to make the gesture.

[dresden doll]

http://obamairl.tumblr.com/ask

I don't get it.

It's an opportunity to ask Obama questions about education and student loan debt which he'll answer on June 10. So people could ask about PSLF and his intentions etc.

I'll save us all the trouble. Here's how he will respond:

"Thanks, Khaleesi1234. That's an excellent question -- and one I hoped I would have the opportunity to answer. You know, education is important -- and no less so for our graduates of professional programs who end up going into public service. I -- was once -- in your shoes. And folks, you know -- You know, it isn't all about making a money. I can tell you that much. So, I want to take this time to thank our young graduates who are going out into the world, and making something of their communities, and their families, and their legacies -- not just themselves. I stand strong and proud with those among us who want to give back to the world and their communities. In my final years as President, I can promise you that my opinion on this -- important -- issue... will not change. Thank you for the question."

Never before was I this frustrated at a 180 post.

[kay2016]

Oh, sure, but it still seemed perfectly reasonable for someone to post the link here, in case you want to make the gesture.

Thanks. That's all I was going for!

[LSL]

Not yet, but they're announcing the expansion of PAYE on Monday... Which will increase "costs" in the budget.. getting rid of forgiveness or extending the time is the easiest way to offset those costs. Not saying it will happen, but just throwing it out there.

I wonder if he'll be talking more about his plans to adopt Elizabeth Warren's student loan rates plan as well. Does anyone have a better link for this news? I can't find one and this HuffPo article seems to have unhelpful wording. I'm thinking these must be the would be new rates as it's 6.8% now for grad loans, right?:

Student groups and other organizations focusing on younger Americans enthusiastically support Warren’s bill, under which new interest rates would range from 3.86 percent for loans taken out by borrowers when they were undergraduates to 6.41 percent for parents who took out loans for their children's college tuition, as well as for borrowers who took out loans to pay for graduate school.

If changing these would have to be passed by Congress anyway, I'm guessing there is no way in hell it happens. But it's another thing he could claim he's "helping" with so "let's cap PSLF".

[Tiago Splitter]

I'm thinking these must be the would be new rates as it's 6.8% now for grad loans, right?:

It's 5.41% for Stafford and 6.41% for GradPlus. These are fixed once you take them out, but each year the rate for new loans is set based on prevailing rates. Great right now, but really shitty once interest rates return to normal levels, whenever that happens.

[FeuerFrei]

Press release acknowledges full forgiveness of PSLF

http://m.whitehouse.gov/the-press-offic ... affordable