God forbid you'd have to do some actual god honest work for a living instead of being a paper pushing monkey.encore1101 wrote:Aristogeiton1 wrote:Hurrah. More damage to the higher education system here in the US. What could go wrong?
Well, we could always resort to coal mining since that industry is apparently making a comeback.
Trump student loan plans Forum
Forum rules
Anonymous Posting
Anonymous posting is only appropriate when you are revealing sensitive employment related information about a firm, job, etc. You may anonymously respond on topic to these threads. Unacceptable uses include: harassing another user, joking around, testing the feature, or other things that are more appropriate in the lounge.
Failure to follow these rules will get you outed, warned, or banned.
Anonymous Posting
Anonymous posting is only appropriate when you are revealing sensitive employment related information about a firm, job, etc. You may anonymously respond on topic to these threads. Unacceptable uses include: harassing another user, joking around, testing the feature, or other things that are more appropriate in the lounge.
Failure to follow these rules will get you outed, warned, or banned.
- Rahviveh
- Posts: 2333
- Joined: Mon Aug 06, 2012 12:02 pm
Re: Trump student loan plans
- encore1101
- Posts: 826
- Joined: Tue Oct 22, 2013 10:13 am
Re: Trump student loan plans
Rahviveh wrote:God forbid you'd have to do some actual god honest work for a living instead of being a paper pushing monkey.encore1101 wrote:Aristogeiton1 wrote:Hurrah. More damage to the higher education system here in the US. What could go wrong?
Well, we could always resort to coal mining since that industry is apparently making a comeback.
Yeah, those 8 years I spent in the military using a mine detector to find IEDs in 130+ degree weather with 70 pounds of gear while getting shot at really prepared me for pushing papers.
-
- Posts: 31195
- Joined: Sat Feb 01, 2014 12:23 pm
Re: Trump student loan plans
Please do some actual work and fuck offRahviveh wrote:God forbid you'd have to do some actual god honest work for a living instead of being a paper pushing monkey.encore1101 wrote:Aristogeiton1 wrote:Hurrah. More damage to the higher education system here in the US. What could go wrong?
Well, we could always resort to coal mining since that industry is apparently making a comeback.
- cavalier1138
- Posts: 8007
- Joined: Fri Mar 25, 2016 8:01 pm
Re: Trump student loan plans
Yes. Thank Odin this proposed cut wouldn't affect the thousands upon thousands of other employees covered by loan forgiveness who aren't lawyers.Desert Fox wrote:Worst case you keep paying for an extra 5 years. Sounds fair to me. Subsidizing a bunch of lawyers is a terrible waste of resources.
Also, have some self-respect.
-
- Posts: 1986
- Joined: Tue Jul 08, 2008 10:05 pm
Re: Trump student loan plans
The government will likely start to care when it realizes there will be a vast exodus from prosecutor and PD offices. There will be a fairly strong right-wing lobby too - there are plenty of conservative 501(c)(3) organizations that benefit from this too. I still think it unlikely to be retrospective.JakeTappers wrote:Obviously, this seems disastrous for law students in public service, particularly those 5 years in who have made huge life decisions based on PSLF. It's hard to imagine there isn't a detrimental reliance argument for those who have, but, as many have discussed, the government doesn't care and no one knows if or how that argument could ever play out. .
Want to continue reading?
Register now to search topics and post comments!
Absolutely FREE!
Already a member? Login
-
- Posts: 31195
- Joined: Sat Feb 01, 2014 12:23 pm
Re: Trump student loan plans
I agree. Not to mention every Senator likely knows people on PSLF and they're unlikely to pass a retroactive law that fucks over people they know personally.albanach wrote:The government will likely start to care when it realizes there will be a vast exodus from prosecutor and PD offices. There will be a fairly strong right-wing lobby too - there are plenty of conservative 501(c)(3) organizations that benefit from this too. I still think it unlikely to be retrospective.JakeTappers wrote:Obviously, this seems disastrous for law students in public service, particularly those 5 years in who have made huge life decisions based on PSLF. It's hard to imagine there isn't a detrimental reliance argument for those who have, but, as many have discussed, the government doesn't care and no one knows if or how that argument could ever play out. .
- Desert Fox
- Posts: 18283
- Joined: Thu Sep 04, 2014 4:34 pm
Re: Trump student loan plans
Exodus to where. They'll probably lose good candidates to the private practice, but there aren't enough jobs to go around.
Last edited by Desert Fox on Sat Jan 27, 2018 12:30 am, edited 1 time in total.
- VulcanVulcanVulcan
- Posts: 196
- Joined: Wed Aug 04, 2010 3:50 pm
Re: Trump student loan plans
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?
-
- Posts: 1986
- Joined: Tue Jul 08, 2008 10:05 pm
Re: Trump student loan plans
A very large number could make the same money by hanging a shingle and doing basic criminal defense and low value civil litigation. I could see entire offices decamping to start a firm in some locations.Desert Fox wrote:Exodus to where. They'll probably lose good candidates to the private practice, but there aren't enough jobs to go around.
This work will still have to be done. For criminal stuff, the courts will end up having to hand it out to private counsel and the cost will increase. Taxpayers will pick up the burden.
- Johann
- Posts: 19704
- Joined: Wed Mar 12, 2014 4:25 pm
Re: Trump student loan plans
its not going anywhere. so feel free to spin your wheels staying angry about hard workers making $45k and "only" having to pay back like 40k in loans rather than 200k.Desert Fox wrote:Exodus to where. They'll probably lose good candidates to the private practice, but there aren't enough jobs to go around.
- dresden doll
- Posts: 6797
- Joined: Mon Nov 24, 2008 1:11 am
Re: Trump student loan plans
It's going to be awesome to see this reintroduced time and time again for each of the next four (eight?) years.
- Tiago Splitter
- Posts: 17148
- Joined: Tue Jun 28, 2011 1:20 am
Re: Trump student loan plans
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.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?
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.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.
-
- Posts: 432595
- Joined: Tue Aug 11, 2009 9:32 am
Re: Trump student loan plans
Yup. Sigh.Tiago Splitter wrote: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.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?
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.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.
But at least I was pretty certain the Obama budget was DOA. I wouldn't swear for this.
Register now!
Resources to assist law school applicants, students & graduates.
It's still FREE!
Already a member? Login
-
- Posts: 201
- Joined: Sat Jun 11, 2016 1:03 pm
- Desert Fox
- Posts: 18283
- Joined: Thu Sep 04, 2014 4:34 pm
Re: Trump student loan plans
Grandfathered including finishing the program is more than fair.
Last edited by Desert Fox on Sat Jan 27, 2018 12:28 am, edited 1 time in total.
-
- Posts: 201
- Joined: Sat Jun 11, 2016 1:03 pm
Re: Trump student loan plans
Discussed on page 20 of the Trump White House's budget proposal (which reportedly is DOA in Congress but the student loan provision enjoys bipartisan support)
https://www.whitehouse.gov/sites/whiteh ... budget.pdf
https://www.whitehouse.gov/sites/whiteh ... budget.pdf
-
- Posts: 3436
- Joined: Sun Oct 26, 2008 2:39 pm
Re: Trump student loan plans
Totally fair for new borrowers. Would be totally fucked to do to people who arranged their entire education and career around PSLF being available.Desert Fox wrote:Grandfathered including finishing the program is more than fair.
Get unlimited access to all forums and topics
Register now!
I'm pretty sure I told you it's FREE...
Already a member? Login
- Desert Fox
- Posts: 18283
- Joined: Thu Sep 04, 2014 4:34 pm
Re: Trump student loan plans
Someone should suggest a write off when the person the later of: 67 years old or 25 years of payments. And in the mean time, each year any unpaid interest is written off.
That way some asshole who goes DOJ honors for 10 years then biglaw, pays his fair share.
That way some asshole who goes DOJ honors for 10 years then biglaw, pays his fair share.
Last edited by Desert Fox on Sat Jan 27, 2018 12:27 am, edited 1 time in total.
- Johann
- Posts: 19704
- Joined: Wed Mar 12, 2014 4:25 pm
Re: Trump student loan plans
he paid his fair share... 10 years of govt rather than biglaw prolly means they forewent $2M of compDesert Fox wrote:Someone should suggest a write off when the person the later of: 67 years old or 25 years of payments. And in the mean time, each year any unpaid interest is written off.
That way some asshole who goes DOJ honors for 10 years then biglaw, pays his fair share.
- Desert Fox
- Posts: 18283
- Joined: Thu Sep 04, 2014 4:34 pm
Re: Trump student loan plans
and he'll make it back as partner in 3-4 years. It doesn't make ANY policy sense to hand him a 400k gift when poor kids can't even read good.Johann wrote:he paid his fair share... 10 years of govt rather than biglaw prolly means they forewent $2M of compDesert Fox wrote:Someone should suggest a write off when the person the later of: 67 years old or 25 years of payments. And in the mean time, each year any unpaid interest is written off.
That way some asshole who goes DOJ honors for 10 years then biglaw, pays his fair share.
Last edited by Desert Fox on Sat Jan 27, 2018 12:27 am, edited 1 time in total.
- Johann
- Posts: 19704
- Joined: Wed Mar 12, 2014 4:25 pm
Re: Trump student loan plans
you are using the exception to fuck over the norm. the rules have to be somewhat broad. it doesnt make sense to make a govt lifer have to pay until they are 67 years old (past the age of some govt retirements). that situation is the far more common situation. there are a few handfuls of biglaw partners coming out of govt after getting 10 years of govt experience every year.Desert Fox wrote:and he'll make it back as partner in 3-4 years. It doesn't make ANY policy sense to hand him a 400k gift when poor kids can't even read good.Johann wrote:he paid his fair share... 10 years of govt rather than biglaw prolly means they forewent $2M of compDesert Fox wrote:Someone should suggest a write off when the person the later of: 67 years old or 25 years of payments. And in the mean time, each year any unpaid interest is written off.
That way some asshole who goes DOJ honors for 10 years then biglaw, pays his fair share.
Communicate now with those who not only know what a legal education is, but can offer you worthy advice and commentary as you complete the three most educational, yet challenging years of your law related post graduate life.
Register now, it's still FREE!
Already a member? Login
- Desert Fox
- Posts: 18283
- Joined: Thu Sep 04, 2014 4:34 pm
Re: Trump student loan plans
Making people pay for the loans they took isn't some huge penalty.
Last edited by Desert Fox on Sat Jan 27, 2018 12:27 am, edited 1 time in total.
-
- Posts: 51
- Joined: Fri Jul 16, 2010 10:04 pm
Re: Trump student loan plans
But grad plus interest rates are ridiculous!
- cavalier1138
- Posts: 8007
- Joined: Fri Mar 25, 2016 8:01 pm
Re: Trump student loan plans
Yeah, this is totally the normal scenario for PSLF. Everyone knows that people are just using the DOJ honors program as a cheat code to avoid paying back their loans while they get super-rich off those phat government salaries.Desert Fox wrote:That way some asshole who goes DOJ honors for 10 years then biglaw, pays his fair share.
-
- Posts: 3436
- Joined: Sun Oct 26, 2008 2:39 pm
Re: Trump student loan plans
It is if the availability of forgiveness was a condition of their taking out the loans.Desert Fox wrote:Making people pay for the loans they took isn't some huge penalty.
I don't get the attitude like these are people who are trying to cheat the system. This IS the system. They borrowed money on the terms of, you can either (a) pay it all back or (b) pay some of it back and get the rest forgiven if you follow these rules. You can't just get rid of option b and then call people deadbeats for not wanting to do option a.
Seriously? What are you waiting for?
Now there's a charge.
Just kidding ... it's still FREE!
Already a member? Login