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I applied for and received a discharge of my student loan.
Contrary to the conservative narrative it was not a Biden policy initiative that granted the discharge.
It's a long running program for the victims of school based fraud to not be held accountable for the crimes of the institution.
A Reagan era program.
If your school was shut down by the Department of Education for cause, then you're eligible to have your loans discharged too. You might even get back what you've already paid if you meet certain other requirements that I don't.
I'd paid a pittance to keep the loan out of delinquency; so this doesn't help the day to day finances much, but I do hope that the sudden shift in my debt to income ratio will cause my credit score to improve enough to make insurance cheaper.
Comment moderation is on full steam because people hate that these programs exist.
Tell your congress creatures, not me.
Well, super glad that at the least got approved for you. I guess I always assumed that this would have been more or less automatic should a school be shut down for cause... Full disclosure, I work for a State University and have for most of my IT career, so it was not something I had direct knowledge of, but SUPER glad it helps you, sir.
ReplyDeleteDepartment of Ed does their damnedest to make sure people are unaware of the program.
DeleteHarvey only heard about it because her job is to listen to the phone calls of the .edu she works for; listening for compliance purposes. "I wonder if we qualify?" she asked herself and found the forms to fill out.
You and others in your predicament are not the students that the people are angry about. You and your others got shafted.
ReplyDeletePeople who have 100% disability (totally unable to work) are also supposed to have their debts forgiven. Again, not the group of people that the haters are hating about.
It's the idiot leftist degree people who charge up huge debt to not only pay for their classes but their lifestyles (something that changed about student loans, used to be you only got enough for schooling and maybe for some supplies) in degree programs that had no chance at all of ending up in career programs, that's who everyone is pissed about.
Like the time I went to Michaels and the cashier was complaining about not getting any auditions two years into her Masters in Opera Singing. And Social Work, and Gender Studies and other useless degrees. Those are the ones that people are peeved about. So smart and capable to sign for the loans and so dumb and useless as to not understand there's no jobs in that field.
Anecdotally oper singers can get decent paying jobs. I know someone who got a degree from a decent college and parlayed that into opera company administration jobs that paid better than cashier. There was also a star of a gold mining reality TV show who financed her singing by dredging in Alaska.
DeleteSocial Work actually leads to an OK paycheck, my wife grosses $3-4000 a month working part time, and her last agency job paid $50k with full benefits for 3 days a week.
Now gender studies, the various grievance studies and most sociology are pure scams and you either get a DEI commissar job or flip burgers
What Beans said.
ReplyDeleteI begrudge the motherf*****s who got a full degree at an accredited school, in some patently worthless program and field of study, and are now trying to weasel out of their obligations because they were too dumb to pour urine out of a boot.
They should work that debt off to the last penny shoveling asphalt from May to September every weekend to fill potholes, at minimum wage, and shoveling mud and snow the rest of the year, and filling sandbags to divert floods.
When they've earned their way out, the debt is discharged.
The people on disability can sling water and chow for the people doing the shoveling.
OR, they could just pay their debts, and sod off.
Problem solved.
I feel the same as Paul, and Beans, and Aesop have said.
ReplyDeleteThe Department of Education shafted you and Harvey hard, without a reach around, when they cut the accreditation of the school you went to, without giving you any recourse to transferring the credits elsewhere or giving some other relief.
So I say "congratulations" for getting out from under a debt that the government made it harder to get out from under by yourselves.
I say that's a more worthy use of my tax dollars than most of the other things they do with it.
I'm really happy for you.
ReplyDelete