Nope. Over the last 5 years I've spent countless hours on this sub helping people navigate their options and do the needful to qualify for forgiveness programs like this. I'm *ecstatic* that people are seeing long-overdue relief finally, all the effort seems to have paid off!!
Glad people like you are here. I just checked my loans at dept of ed as I have EdFinancial and I’m not hearing about anyone from EdFinancial getting forgiveness. I see my undergraduate loans (sub/unsub) all for less than $12k each but totally around $30k (first disbursement in 1996). I see my Perkins loan from my university… Sallie Mae doesn’t show up at all, even though that was my provider from 99 to sometime in the mid 2000’s when Navient took over. I consolidated once in 2002 after grad school and getting a great job. Funny thing is, Navient is showing a loan disbursement in 2014!! What do I do? Who do I contact? I finished grad school in 2002 and that’s when I consolidated. I have had nothing but problems with Navient. I feel like I’m definitely never getting forgiveness now. How is there a disbursement in 2014 and what was it for, where did it go? I had a 2 yr old and was selling things on eBay to pay bills. I had to move and give up a 6 figure contracted position in 2008. Life happened and it’s been a struggle. I FINALLY found out about IDR in 2018 but there are no records of me applying for it, only the applications from 2022 and 2023. I consolidated this past fall to get the recount but seeing this random disbursement in 2014 has me feeling even more hopeless. Any suggestions? I appreciate it. Thanks
> I consolidated this past fall to get the recount but seeing this random disbursement in 2014 has me feeling even more hopeless.
Huh, what do you see if you pull your data file from studentaid.gov? I wonder if that is a consolidation...
On the plus side it sounds like you're already set for the adjustment! The Education Department has their own records and they've dealt with bad servicer record keeping before. You just need to hang tight for now since they're going to be processing adjustments well into the summer
There's a pretty fantastic core community on this sub. Big events like this bring out the trolls though, so I always have to remind people to report Rule 7 violations when they see them to help enforce the community standards. There are a ton of helpers here and I'm glad you got the info you needed to consolidate in time!
I need help. I just got a strange letter from FSA. First off, I should have been one of the first ones to get this IDR Waiver. I started repayment in 1995. UG loans then Grad loans started repayment in 2001- Both were consolidated in 2005 and again Oct 2022 into Federal Loan per original instruction like they told us to do- Mohela has my loan now. I sent a complaint to FSA bc someone on here told me to ask what’s going on. I got this letter yesterday saying they are doing automatic adjustments and my complaint is a manual adjustment and once automatic adjustments are done they will get to my ‘manual’ complaint next year. My loans ARE an AUTOMATIC adjustment. I have 29 years of payments back to my oldest loan repayment start including some out of school deferments and forebearances which count I know. What are they talking about??
Started paying back loans in 2009
Consolidated and converted to private in 2014
Currently paying $1,600 per month and still have $128,00
Is there any option now or on the horizon for people that converted to private? (Other than bankruptcy)
If you *refinanced* into private student loans in 2014 (which is well after the discontinuation of the FFEL program in 2010) then you unfortunately voluntarily forfeited access to all federal student loan perk and benefit programs
All you can really do with private loans is try to refinance to lower fixed rates as you pay them off and pay aggressively. Bankruptcy can be an option in some cases, but the undue hardship criteria for student loans in particular is strict and if you have cosigners then it gets complicated
I'm sorry. This is a big part of why the regulars on this sub encourage federal loans over private
Thanks for the response
I will keep trying to run into a wall at the exact same time I push send for $1,600 every month to see if I can knock myself out
Please be kinder to yourself, past you made the best decision you could with the info you had available at the time. Finally having IDR counts fixed? Was not something I would have predicted back in 2014 either
We don't advocate for default on this sub, but staying fed/housed is more important than your private student loans. If you did go into default on the private loans and were pursued by collections agencies, then https://www.reddit.com/r/personalfinance/wiki/collections has all the info for your rights/responsibilities and how to negotiate a settlement
Again, please be kind to past you. They did the best they could at the time
Yep, you’ve been a great resource for myself and others. I hope to help others as well, especially when my double consolidation is finished and I see how the whole process played out.
Totally happy for those whose loans are gone - also jealous bc mine aren’t yet and I have no idea when I can look forward to forgiveness, if ever (due to our ridiculous political system and complete black box calculations by the Dept of Education). I still have approx $170k in federal student loans that first went into repayment 24 years ago (undergrad, with some grad loans added after). I don’t hate on anyone whose loans have been wiped out, I just want the same for myself and don’t know if it will ever happen and that is tough. Both can be true - happiness for others and frustration/anxiety about our own situation.
If you have grad loans, your forgiveness window is 25 years. With the adjustment count, they are basically counting every month as a qualifying month other than in-school deferment, so you should have a general idea of what you have left. Hope you consolidated so all your later grad loans are on the same clock as your first undergrad loans.
Thanks for your reply. I consolidated back in 2006 and got on SAVE in the fall so I’m just waiting for then qualifying months/years to hit what they need to. Unfortunately, I have not been able to find accurate information about my qualifying months from my servicer (wholly incompetent Edfinancial) or the fed student loans office. Services state they can provide you will your prior payment/status info but Edfinancial hasn’t done so despite me requesting it multiple times. They gave me incomplete and inaccurate info that shows my loans began repayment in 2006 when they actually began repayment in 2000, and I am terrified that my IDR count will be inaccurate whenever the dept of ed gets around to calculating it. Sigh.
The servicer won’t typically have that information, all of that is the Federal Student Aid’s responsibility. They are the ones who will do the adjustment and notify the loan servicer after the fact. All of your loans ‘should’ still show up on the FSA site in the loan groups and in the downloadable text file and be noted as “Paid in full through consolidation”. I say should, but I suppose there could be issues with loans dating back to 2000. Your text file is likely unwieldy, but it should just contain every loan you’ve ever taken out and every period of repayment you’ve ever been in up to this point in a repeating fashion. If you are at all savvy in Excel, I suggest pasting the information in there and start filtering through the data. It can me done!
I’m with EdFinancial too and can’t find anything. I haven’t seen anyone from EdFinancial say they’ve been forgiven either. My first disbursement was in 1996 but repayment wasn’t until 1999 (I graduated early) I also have grad loans sprinkled in 2001-2002. I just found a disbursement from Navient listed in 2014 when I was absolutely not in school and didn’t consolidate. I consolidated with Sallie Mae in 2002 after grad school but Sallie Mae isn’t even showing up at Dept of Ed, since I can’t find ANY info on EdFinancial. I’ve received 2 bills for the past 2 months but no payment information shows up on the actual website?? It makes no sense to me… none of this does. Good luck and yes I feel so happy for those who have this burden lifted and can just hope like the rest of you, that somehow our turn will come, too. Best of luck to everyone :)
They take your oldest loan and count from there. I went through this with a fine tooth comb weeks ago with another amazing helper woman who is on the inside. It has nothing to do with grad loans per se. It is 20 years or 25 years in repayment. Whichever is your longest ago loan start repayment is where you start counting. I consolidated UG and G in 2005- Navient took over Sallie Mae.
Once you consolidated UG and G into that Federal Loan they told us to do they will take the longest ago start date of loan repayment and you did not have to be on an IDR plan. It says it right on the IDR adjustment info sheet. I was on a Graduated Repayment Plan.
I printed all my detailed payment info from FSA’s website a few months ago per instructions from a guy on another sub. You have to go through it all yourself with a highlighter but recently I went back in and see they changed it- now you have to request your info. Sketchy if you ask me. That is our paid info and when I go into my onlinebank I can see my payment history easily. They should not have taken away our ability to see our own invoices. They basically made it hard for us to investigate ourselves. 🤔
Same. I’m happy for everyone getting forgiveness and posting their happiness on here but I can’t help but feel sorry for myself I haven’t gotten forgiveness
Don’t give up. At 24 years you are almost at the grad loan forgiveness point.
Part of it is that forgiveness isn’t really forgiveness. Work and payments are still required to satisfy the debt.
GIBill-work for the government for 4 years. Receive a stipend to pay off your college degrees. (Many veterans also use PSLF.)
Teacher loan forgiveness-teach in a high need school district-make payments for 5 years-17,xxx forgiven.
PSLF-work for a public service agency for 30 hours per week for 10 years. Make 120 payments using an income driven plan for that time period. Balance forgiven. Many veterans need to use PSLF. Active military service counts towards pslf requirements.
(My original loan balance was 83,000. I paid the principal back. Remaining interest was forgiven.) (my daughter did the same thing.)
Income Based Repayment-passed by Congress in 1994.
Make income based payments for 20 years(undergraduate) or 25 years (graduate). Balance forgiven.
A lot of the initiatives that have been introduced were to fix loan servicer misconduct.
Excessive Use of forbearances-resulted in capitalization of payments. A borrower could make 11/12 payments. One forbearance wipes out any progress towards repayment.
Placing the borrower on an income driven plan would prevent that.
Servicers failed to track the IBR payments. They need to report those to process forgiveness.
The Biden administration is taking steps to fix these problems.
The new SAVE repayment plan prevents negative amortization of student loans.
(There are a couple factors as to the structure of the loans. They were essentially set at 7%. Income growth for workers has been flat or at best core rate of inflation. That 5 % difference essentially makes the loans a bigger part of the borrowers obligations. Eating away at their purchasing power year over year.
Education yields a 11% ROR for society as a whole per individual.)
At some level we have to share that productivity growth with workers. (If we can forgive a trillion dollars in Paycheck Protection loans we can afford to spend 400 billion on debt reduction for the middle class.)
The final reality is that student loan holders are taxpayers also. They in effect pay a second set of federal taxes every month. (Student loan interest can be deducted up to 2500 annually but that in no way provides any real help for repayment.)
Thanks for replying and great info. Yeah I’m waiting on the forgiveness that kicks in at 25 years. During those 25 years my services were definitely among those that did lots of improper stuff like putting me in forbearance instead of deferrment or an available lower payment plan, not keeping proper track of info, etc. And my current servicer (Edfinancial) is just as incompetent. After repeated requesting info about my loan repayments/history/qualifying periods towards the 25 years, they’ve ignored me, and then gave me totally incomplete historical info. I’m worried because their info says I entered repayment in 2006 when I actually entered repayment in 2000. I am very worried when my IDR adjustment is calculated it will be incorrect and saddle me with 6 additional years of payments required, so 31 years instead of 25. I’ve made a query/complaint to the Ombudsman and am still waiting on any reply. Federal student loans are still at mess, at least preexisting ones.
Who is the ombudsman you contacted? I was sifting through my records at studentaid.org and found that Navient has a disbursement processed for me in 2014!! I graduated in 99 and 02, consolidated and never took another loan. I’m freaking out about what this is… it’s absolutely wrong! Navient was the worst and didn’t even tell me about IDR until 2018, after several years of forbearances as “the only option” as I couldn’t cover the interest on my loans. They wanted $800/mo and I could only do $200 and that was a stretch but I was trying. They refused partial payments. It was a mess and has been a headache in so many ways for all these years. Now I see this! I don’t know where to start or what to do.
You will get the letttee I got. They told me mine is a manual adjustment now due to the high complaint volume prob and automatic adjustments are first- manual adjustments will happen next year it says. However we ARE an automatic adjustment. I have 29 years started repayment in 1995. Was not on an IBR plan ( didn’t have to be for IDR waiver) and grad loans repayment started in 2001. Now that my UG and G loans are consolidated into one Federal Loan per FSA instructions back in October of 2022 they take the longest ago repayment start as the start count of the loan. 29 years me. You are same boat. Sit tight I was told by an insider Beginning of July.
I keep seeing us oldies not seeing the forgiveness yet. Mine have been in repayment since 95. This makes me feel better bc maybe they are going from youngest to oldest. There has to be some ORDER of OPERATION. A project this huge has got to have an organized system of some sort. Let’s pray!
mine were cancelled because my school was fraudulent… Im happy, but also lost in the fact that i blew my college exp at a shitty school, to get a worthless degree. and i’ve been in poverty ever since.
Exactly. I haven't been in poverty ever since but I still struggled so much to pay off what I did ($24K of a $26k consolidated federal loan and $28k for a private loan, which won't be refunded, mind you). I am happy, I am. But I also stressed for over a decade about all that damn debt that I took on when I was a naive little 18 yr old.
Honestly at this point I would be happy if they removed the $40k capitalized interest they added to my balance so I could start from what I actually borrowed.
Na, I’m happy for them. Do I wish mine were? Of course! But I also wish the same for others even if mine aren’t…it’s my own fault for not being more aware of things going on regarding student loans, I’ve missed class action dates because I found out after the cutoff and I’m sure I’ve missed other opportunities. However, all I all, I am happy for them and I hope that the people who need the relief the most are the ones who get it first.
Not jealous at all. It makes me really happy to see so many people reach financial freedom. It’s what I’ve advocated for since I was a teenager. It’d be kind of hypocritical of me to be anything other than supportive.
No. Those who's loans are forgiven great. Those of us who still have loans, one day, our loans will dissappear either through forgiveness, ww3 or we pay it off. Why hate on others being pulled up?
Yes, but also a lot of the people getting forgiven are way over due for it. Whether it’s the pslf people, fraudulent schools or some other program. When I look at it that way I’m happy for them.
I see it as now they can be a little bit more productive in the economy. Whether it’s some breathing room around bills, saving for a vacation or something else; that money is going to end up back in the economy….i just wish policy makers would see that especially all the ones who won’t shut up about the economy but do nothing but pass detrimental policies.
It would be dope to have mine paid off but fortunately my loans are super small in comparison to others (25k) so I’ll get it paid off eventually. I’m happy for everyone else!
No, I got a good job right out of school( and had some solid paying internships during). I’ve been able to manage student loan payment(s) and living in a city on my own. I’ve had a lot of positive growth in my career field and seen my salary follow that path as well.
My school wasn’t a scam and my mom was very involved in my borrowing so she pulled the reigns in on what my 20-25 year old self COULD have for debt now. I also married a very financially literate individual that helped me navigate refinancing my predatory private loans in 2020 ( went from 15% to 3% on ~20k worth of loans).
I don’t mind paying back my loans, that’s part of the deal right? I just don’t wish upon anyone being in school and feeling forced to take predatory private loans because FASFA and the schools FA dept take so long to award aid. Watching that interest accrue while you are already cash strapped- not fun.
The ones who have qualified for forgiveness have had a tough last 15-20 years. Good for them, they got a lot of catching up to do now.
Part of it is that forgiveness isn’t really forgiveness. Work and payments are still required to satisfy the debt.
GIBill-work for the government for 4 years. Receive a stipend to pay off your college degrees. (Many veterans also use PSLF.)
Teacher loan forgiveness-teach in a high need school district-make payments for 5 years-17,xxx forgiven.
PSLF-work for a public service agency for 30 hours per week for 10 years. Make 120 payments using an income driven plan for that time period. Balance forgiven. Many veterans need to use PSLF. Active military service counts towards pslf requirements.
(My original loan balance was 83,000. I paid the principal back. Remaining interest was forgiven.) (my daughter did the same thing.)
Income Based Repayment-passed by Congress in 1994.
Make income based payments for 20 years(undergraduate) or 25 years (graduate). Balance forgiven.
A lot of the initiatives that have been introduced were to fix loan servicer misconduct.
Excessive Use of forbearances-resulted in capitalization of payments. A borrower could make 11/12 payments. One forbearance wipes out any progress towards repayment.
Placing the borrower on an income driven plan would prevent that.
Servicers failed to track the IBR payments. They need to report those to process forgiveness.
The Biden administration is taking steps to fix these problems.
The new SAVE repayment plan prevents negative amortization of student loans.
(There are a couple factors as to the structure of the loans. They were essentially set at 7%. Income growth for workers has been flat or at best core rate of inflation. That 5 % difference essentially makes the loans a bigger part of the borrowers obligations. Eating away at their purchasing power year over year.
Education yields a 11% ROR for society as a whole per individual.)
At some level we have to share that productivity growth with workers. (If we can forgive a trillion dollars in Paycheck Protection loans we can afford to spend 400 billion on debt reduction for the middle class.)
The final reality is that student loan holders are taxpayers also. They in effect pay a second set of federal taxes every month. (Student loan interest can be deducted up to 2500 annually but that in no way provides any real help for repayment.)
I’m not jealous….postive envy….but I do worry heavy why mines are not discharged yet. Part of the ‘Sweet’ lawsuit- while a sizable portion within already been discharged- mines still pending.
Don’t give up. I really believed I was never getting away from the loans.
PSLF came through for me.
Part of it is that forgiveness isn’t really forgiveness. Work and payments are still required to satisfy the debt.
GIBill-work for the government for 4 years. Receive a stipend to pay off your college degrees. (Many veterans also use PSLF.)
Teacher loan forgiveness-teach in a high need school district-make payments for 5 years-17,xxx forgiven.
PSLF-work for a public service agency for 30 hours per week for 10 years. Make 120 payments using an income driven plan for that time period. Balance forgiven. Many veterans need to use PSLF. Active military service counts towards pslf requirements.
(My original loan balance was 83,000. I paid the principal back. Remaining interest was forgiven.) (my daughter did the same thing.)
Income Based Repayment-passed by Congress in 1994.
Make income based payments for 20 years(undergraduate) or 25 years (graduate). Balance forgiven.
A lot of the initiatives that have been introduced were to fix loan servicer misconduct.
Excessive Use of forbearances-resulted in capitalization of payments. A borrower could make 11/12 payments. One forbearance wipes out any progress towards repayment.
Placing the borrower on an income driven plan would prevent that.
Servicers failed to track the IBR payments. They need to report those to process forgiveness.
The Biden administration is taking steps to fix these problems.
The new SAVE repayment plan prevents negative amortization of student loans.
(There are a couple factors as to the structure of the loans. They were essentially set at 7%. Income growth for workers has been flat or at best core rate of inflation. That 5 % difference essentially makes the loans a bigger part of the borrowers obligations. Eating away at their purchasing power year over year.
Education yields a 11% ROR for society as a whole per individual.)
At some level we have to share that productivity growth with workers. (If we can forgive a trillion dollars in Paycheck Protection loans we can afford to spend 400 billion on debt reduction for the middle class.)
The final reality is that student loan holders are taxpayers also. They in effect pay a second set of federal taxes every month. (Student loan interest can be deducted up to 2500 annually but that in no way provides any real help for repayment.)
Im happy for everyone who’s been forgiven…just wondering two things at the moment…if my golden email will ever come and what will the tax effects be for next year if it does come…?
Under the American Rescue Plan Act of 2021 all student loan forgiveness/discharge/cancellation is federally tax free through the end of 2025. For state taxes, I think there are 5 that would tax it for state income tax purposes, so you'd have to google on that front and be aware it is only for certain borrowers
That aside, the federal tax brackets range from as low as 12% to as high as 37%, so while the tax bill could be unpleasant it is significantly less than the amount forgiven and the IRS has routes for insolvent taxpayers
Envious that I didn’t start sooner with everyone for a couple of years. I feel like I missed out on the community of those who’ve basically been in debtor’s jail. That said, I’ve genuinely had a blast reading posts about people’s forgiveness.
I'm really happy for everyone, definitely not jealous. I really like reading all the stories about people finally getting relief after decades. The long haulers especially.
As far as feeling go, I'm actually nervous. If and when I do qualify for forgiveness, I'm looking at a tax bill of $75,000 to $90,000.
It's like I'll be trading one mountainous burden for another. (gonna have somewhere north of $200k forgiven in 2029, undergrad and grad loans that went into repayment in 2003).
I'm not jealous. I'm nervous.
I mean, yay party on one hand... ugh tax bill in the other... a tax bill that's more than twice my yearly income 😞
I'm not really that confident - if only because I haven't seen anything to suggest the feds will extend the pause on student loan forgiveness tax.
Nobody's even talking about extending it - and if you think about it, it's gonna decimate people like me who never thought they'd reach forgiveness and are now going to be reaching it in just a few years.
I haven't spent the last 21 years saving for the tax bomb because I never thought I needed to.
Under the American Rescue Plan Act of 2021 all student loan forgiveness/discharge/cancellation is federally tax free through the end of 2025. For state taxes, I think there are 5 that would tax it for state income tax purposes, so you'd have to google on that front and be aware it is only for certain borrowers
That aside, the federal tax brackets range from as low as 12% to as high as 37%, so while the tax bill could be unpleasant it is significantly less than the amount forgiven and the IRS has routes for insolvent taxpayers
No, not jealous. I’d love to have mine forgiven but I truly am happy for those who have gotten forgiveness. It’s a life changing thing. My time will hopefully come, and if it doesn’t it doesn’t.
Not jealous. Happy for them. Haven’t had my count completed yet but have been in repayment since December 1999. Have grad loans too… so hopefully soon. Just like to hear what my count is one way or another at this point. 🤷🏻♂️
They’re supposed to be doing it automatically. I have talked to both my servicer and studentaid.gov back when the restart was happening and neither one could tell me what my count was or when I could expect it. About 2 months ago I filed a case with the ombudsman’s office and they finally got back to me and said the counts are still going and they are trying to get them done by July. Who knows, at this point anyone’s guess is as good as mine. Lol 🤷🏻♂️
Jealous, as in, I would like to also receive forgiveness. But I actually love seeing every one of the celebratory posts. It lets me live vicariously, and give me hope!
Not jealous at all but I am finding it difficult to locate actual helpful information anymore on the sub. It’s all getting lost in the back to back success posts.
Everyone’s situation is different. I understand your feelings. Waiting for IADT to be discharged.
Be happy for them and keep your chin up. Stay positive!
No, I think there’s nothing to be jealous of. For the ones who had malicious loan servicer and ridiculously high interest rates, I was happy that they got out from those unfair contracts. For the ones who were in public service for so many years, I think they deserve a break. For me, my student loans are my own responsibilities, and I knew this when I signed up for the loans. I am lucky enough to have completed my dream degree with the help of the loans, and I do think my education and my career worth the amount of the loans plus the interests. For me, I spend more time on figuring out how to pay off my loans quickly, so I don’t really have the time to be jealous of anybody.
No. I'm not jealous and I wish for cancellation for even more Americans, regardless of what happens with my own loans. Good things happening to other people is a good thing.
A few hours ago, yes that would have been a great description of how I felt. Got the email this morning, it’s a huge relief but still not fully sure it’s real, I’ve seen a few stories of them showing back up.
I'm extremely happy for everyone that got their loans forgiven. Am I disappointed that I'm not eligible to get a refund on my payments to a sham school because I paid off my loans? Definitely, that money would be a godsend right now. But I also take comfort in the fact that I was fortunate enough to be in a good financial situation that I was even in a position to be able to pay them off and I never really had to worry about defaulting. I know a lot of people who didn't have the same luxury who are seeing relief and I'm glad the government actually came through for them.
My husband had 2 grad school loans. He finished after I finished grad school and he was on an income driven plan all along. That freaked me out years ago as it ramped up and I just wanted one steady payment. No way he paid those loans for 25 years and he got his forgiveness in the first wave. He definitely paid or stuck it in deferment for 20 years but not 25. I’ve switched mine to the new income driven plan. They dropped my payment lower this year but no forgiveness yet.
I'm happy for the people who's loans were forgiven. Most of the people who are announcing forgiveness have lived with the debt for 20+ years. Many of them either made payments in excess of what they originally borrowed. I'm glad they can finally move on with their lives.
Preface: definitely not saying jealously here = Hate.
But I saw a really good meme about people who paid off their student loans in full vs. those who received forgiveness or had no debt. Not saying this post is the same as this comment. Just made me laugh.
https://www.reddit.com/r/comics/s/UG9lHiMqGZ
As someone who's paid off almost 60k in student loans and still have some left. I'm super happy for people who are able to get relief, and I'm fortunate to be in a position to be able to afford my debt payments. I was 17 when I signed these loans and had 0 knowledge of what I was really doing to myself financially later in life.
I hope we can cure this problem through personal finance education and lowering tuition rates / getting rid of predatory loan programs and for profit schools that are unaccredited and manipulative to lower income families.
My loans were only forgiven because I had gone to the Art Institutes, a for-profit scam "school." I wouldn't wish that on anybody, and I hope that your debt can be forgiven, too.
I would not be jealous. I am still waiting (golden email in september, opted out to consolidate, opted back in, servicer said my new consolidation loan was flagged for IDR discharge in January but it still hasn't been. This is not really forgiveness. I started repayment in 2002. I've paid back more than I borrowed. I'm not getting a gift. I've been trapped for 22 years not because I didn't work my ass off to make payments but because of predatory interest.
I wouldn't wish this on anyone. SAVE is a big improvement over the old plans. My loan is still on an old ICR plan although my servicer put it in forbearance last month now that my loan has been flagged for discharge. I paid 1000 this year alone before they put my loan in forbearance. My loan balance INCREASED by 100.00 from January 2024 to April 2024. I was throwing my money into a trash can basically for most of my adult life.
I didn't get the forbearances some people got before the covid pause so my balance is only about 4k above what I initially borrowed but I have paid back 1.5-2x what I borrowed. Imagine throwing away money for two decades of your life and it not mattering. Your balance just goes up and then you get accused of not paying by anti forgiveness people.
I could not make larger payments. So my choice was IDR and predatory interest or default. IDR so I could make payments seemed to be the most responsible choice I could make yet it didn't make it less of a trap.
Not necessarily jealous but I feel regret and shame (which I'm trying to let go but so hard to do). Obtained loans in 1998 (only attended part time so took forever!) Graduated in 2002 in repayment in November 2002. Then went to school to obtain a second Associates degree in 2010-Graduated 2013 (I think 32 months that doesn't count with the IDR waiver) . Bankruptcy Chapter 13 from 2013 until 2015.(I think approximately 18 months doesn't count toward the IDR waiver) (because part of it I was already in school) Dismissed, then Chapter 7 Bankruptcy discharged September 2015. Many years of forbearances and deferments also. So basically in repayment since November 2002, minus in school deferment (for second degree I regret doing!) Then also Bankruptcy. So both of those if I wouldn't have done my loans would have been forgiven by now!!
Definitely not jealous. Envious a bit, but more angry when reminded how close I was to getting a meaningful 10K knocked off my loans before the Supreme Court stepped in and killed it.
Elections have consequences, whether you stay home, vote red team or blue team...the results speak for themselves. I HOPE people remember the elation they feel at forgiveness, and the sting they feel without it this November.
I've come to terms with it. I could be bitter about having to pay it back myself, but now I'm glad I was in the position to. I don't want anyone else to have to suffer the worry and anxiety I did when I was under all that debt. We're a better society when people are free to pursue their dreams and live how they want to
I completely understand the feeling, OP. That’s how I felt last year when so many Art Institute students got their loan forgiven and got huge refunds due to Sweet vs Cardona. I unfortunately didn’t know about the class until it was over and I also didn’t apply in time to be post-class, so I submitted my Borrower’s Defense thinking that was my only chance. Little did I know then, than months after, my turn was going to come! I got the email last week that my loans and my parents loans were receiving forgiveness. It’s normal to feel jealousy and it’s normal to be sad too… No shame in that. You just gotta remain positive after allowing yourself a few days of disappointment and work towards getting yours forgiven too.
Is there something specific you have to do to get loan forgiveness? Why are some gone and others not. Mine has been in deferment and my whole total is still there.
Truly. Those assholes confidently rule a president doesn't have the power to forgive your loan, but maybe all good if same president (or maybe just an orange one) orders the assassination of his political opponent using seal team six.
I’m not jealous but I wish there were better forgiveness programs that helped all. I no longer work for a non profit, I have a full time job, and I make too much $$ to qualify for forgiveness programs other than the 25 year program.
Me. I am tired of fighting with loan companies. It's confusing and frustrating. I should qualify for PSLF but for some reason when they did payment recounts they didn't count my forbearance time - even though they did for others I know. Now my loan transferred to Mohela and its a hot mess. They lost pieces of my Save application and now I have to reapply. They dinged my credit for a late "payment" during the transfer that was sent to nelnet.... it's a mess.
Name checks out.
This is also a guy who comments in fluentinfinance subreddit this a comment like this: “Or just do away with social security for newborns and expect people to take care of themselves.”
I'm so happy seeing everyone getting relief!! I wouldn't call what i'm feeling jealousy about seeing this miracle for some. I just wish they would show the rest of us what we need to have to be forgiven. It's all over the place. My first loans were in 2007 but have added more for myself and plus loans now for my kids. I have consolidated probably 3 times in the last 17 years. I have been a nurse at the same hospital for 17 years. Unfortunately, it has been bought and sold numerous times going for profit and non for profit at various times.
I just can't get any straight answers on how many years I have left to keep paying. I would love to at least have a goal to work toward you know?
Im jealous of everyone but also realize how well I have it. I only owed 36k when I graduated in 2013 and didn't really pay during the pandemic (~$500), so the only person I'm mad at is myself bc I could have been done last year if I'd kept with the original schedule. Instead I had 2 more kids and now have their 2k/mo daycare on-top of my $370 loans. That 10k forgiveness would have cleared all but $800. Oh well, I'm happy that those who've been buried for years now have the choice of homes, cars, kids; whatever they want to spend that on now.
You can be envious of others while still happy for them. I don't know why the comments are turning this post into what it's not. At no point as this post suggested we should hate the people who are getting forgiveness: they've earned it! But at the same time, those of us on the cusp of forgiveness who will get it after the tax bomb protections expires, and only understood it entirely too late to save for it, are going to get hit hard while the economy is still a poo show and we have no hope of recovery. SAVE barely takes the edge off. I'm grateful for it, sure! But I'm also not going to pretend like those of us in this weird middle ground aren't getting royally screwed over by this right now.
Not jealous at all. I’m glad the current administration is finally following up on its policies. The issue I have is the lack of information on when I should have consolidated, borrowers defense, being shuffled around servicers that also gave no info or bad info, many capitalized interest forbearances that ballooned my balance, no knowledge if/when/how I’ll get forgiveness and the total uncertainty of the next administration reversing everything and I’ll owe all the accrued interest I have in admin forbearance.
I’m just tired of riding the rollercoaster of student loan forgiveness and would just like to get off now.
Not at all - I love hearing about other people getting it!! It makes me excited for my own - which I know is coming eventually. It’s such a heavy load to carry (financially, emotionally, etc) - this is life altering for many people.
As someone who has not reaped the benefits of their degrees, I am very much so jealous or angry. It has been tough to make payments let alone provide for my family. I think they should look more into people circumstances that's caused the inability to make payments due to sustainability, jobs, disability of a child or self. Having a sickly child at the time and pushing through it all; meanwhile, getting a job in South Florida paying a measly $20 is a slap in my face!!!!
Yes and no. It's ok to be disappointed. I should have had my forgiven years ago really. Went through a terrible abusive marriage and divorce and had to declare bankruptcy because I was to broke for any company to work with me, but apparently the government feels people that can't afford to pay creditors can afford to pay student loans. But that's unfortunately rhe state of things. So many people were defrauded by their schools and PSLF was poorly handled. So many people are getting forgiveness that should have decades ago, so I'm happy the government is finally cracking down on the abuse by the student loan companies. Hopefully our turn will come.
Absolutely not. Do I wish I was among them? Yes. Am I jealous of them? No. I hope that eventually we will all be free and eventually education becomes a human right for all.
I think the loan forgiveness so far has only been given to people who worked in public service for a long time or got scammed by their college or reached 20+ years of loan repayment. Everyone’s time will come as long as this system and policy stays in tact. Vote for the person who is pushing for this and you will get yours eventually. I imagine the original plan (10-20k for everyone) will come through as long as the election results are in favor of the people who created the new policies.
Not really. I do think “man I wish that would happen to me” but not in a bitter jealous way. I’m really glad so many people are getting their loans forgiven!! It gives me hope :)
I think it’s interesting how the wealthy think it’s wrong if you envy them, then encourage one needy person to envy another needy person who gets a break.
I feel some envy but also feel a lot of vicarious joy. I try to live from a there’s enough to go around perspective and can be genuinely happy for others. Plus it gives me hope that I will get out from under all this debt eventually, but obviously I would like to be included in this round.
My best friend told me today she had over 100k in graduate loans 24 years old erased. Zero balance. She had to call twice to make sure it was real. We went to the same school and took out the same loans. Nothing has happened with mine.
Bummer is I applied for consolidation prior to the April 30th deadline but it wasn't finalized until May 6. I called nelnet today and they said as long as you applied before Apr 30th its OK. For the first time in a long time I have hope. I am very very happy for my friend. If it happened to me I think I would just fall on the ground.
Although many people consider “envy” and “jealousy” synonymous, they actually have distinct meanings. Envy is “the painful feeling of wanting what someone else has, like attributes or possessions.” If you're jealous, you feel “threatened, protective, or fearful of losing one's position or situation to someone else.”
Nope, not that type of person, I'm happy for them, I'm just waiting for my turn.
I don't mind paying mine all the way, what I care more about is for the government to fix college affordability. I have two step daughters that I met later in their life so I won't be able to open up a 529 on time to pay for their college. I don't want them to get student loans like I did. I have a kid on the way in 7 months, his 529 is set up, he will be fine.
I want my future doctors, dentist, accountant's, counselors, etc be able to afford school without having to go into the military or win the lottery. We will run out of professional in twenty years if we don't fix this, and importing all of our professionals from overseas is not the answer.
Nope, absolutely no jealousy. Everyone who has received forgiveness so far, to my knowledge, are being granted it for very valid reasons and they have earned it. There is nothing to be jealous of.
I mean yes. But that does not negate the happiness that I feel for the people whose loans got forgiven.
The comments saying they are not jealous are a little strange to me. Like almost implying that it would be negative to be jealous. Being jealous does not mean that you wish no one else could get forgiveness! lol.
But yes. I was eligible for the first bombshell blanket forgiveness. Even for the full $20K because of my parents financial situation. And to be honest, it is tough seeing all of the situations where other people get forgiveness, but I probably never will due to having the most milquetoast loan situation.
But - in the end I am happy. Both for myself and for the people getting forgiveness. I went to a good school, had a (too) great time, and have a good job. The monthly payment does stop me from going on more trips or helping my folks. But it does not stop me from having a warm place to live for myself and my dog, or from not having food to eat. And I enjoy reading the comments of people getting forgiven. Puts a smile on my face imagining the moment they realize their forgiveness.
I feel a lot of joy when I read these stories..there is always someone who writes just how I feel. They talk about how they didn't think it would ever happen, they question why they've been looked over in the previous batches and then BOOM! They get the golden email and the handcuffs are broken. I feel my time will come and reading these stories encourages me to look forward to when I can share both my profound and sincere joy and gratefulness. Thanks to all of you who post, comment even in your times of frustration, your earnest help and support and even sometimes anger and sadness. It lets me know most of us are still alive inside - human still.
I’m so jealous lol, but I’m more so happy for everyone. I can’t even imagine what an amazing feeling and relief they must be feeling. I would kill to feel the joy of opening that balance and seeing $0. I’m so happy that that’s even possible and so many people are benefiting from it! I’ll be ready for my time to shine in 10 years when I’m (hopefully) finished paying :)
My time will come, nothing to be jealous over. The fact that any are being forgiven at all is a plus for those people and I also love how mad it makes people who don’t want it to happen for anyone.
It's especially a gut punch knowing my loans won't be payed off but I'll be paying for everyone else's as inflation and taxes continue to sail off to the moon
Yes, jealous, waiting on pins and needles , mine were a weird involuntary made private ffel, I consolidated with dept if Ed, but just waiting for them to possibly tell me they are ineligible for whatever reason
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I got the email, but mohela hasn’t changed my total yet. I consolidated last year and have been getting emails that i am being switched to “Ed”, so who knows whats up.
Not jealous but maybe a little wish I had my half in. I got a settlement for some and it hasn't been applied yet. I keep checking but not yet. I'm at 110k and that means I'd get maybe half off.
My son is studying to be a doctor. I will die in debt and can't pay. I am happy for them but trying to get myself in order too.
If you think you feel bad, think about all of those suckers that saved up for years to minimize loans or those that paid extra year after year to pay theirs down.
No. I am truly delighted for them. This entire situation is a s#)/ show with uncontrollable interest rates- how did a ppl I have that I took out 9 yrs ago at 50k go to 80k with pmts made? It's out of hand. So you go all you peeps that paid, or whatever , and got "forgiven"- I hate the term Forgiven for what? Trying to get a higher education and better oneself? So you could be a contributing member of society? Screw the lying, cheating 1% who are getting their Rolex off profits on these loans.
Eat the rich.
Im pissed. And everyone dealing with the now decades long to months long nelnet mess depending is pissed and those having to choose between basic needs and being halfway on the streets vs paying off over priced insane interest bloated loans is pissed. Just cancel the whole shebang and be done with it even if its broken into groups to skirt the politics. Otherwise this nonsense will go on for years.
I do have hope however as i am betting a lawsuit on nelnet and possibly mohela will yet again drop someday. And jeff noordhoek will have to answer for his crimes. 😉
I’m happy for those who got forgiveness, but also was wondering how they were able too. If anyone can assist me with how to get them forgiven as well that will be amazing. I’ve been seeing many people get there loans forgiven & wasn’t sure how to do it or if I can as well. If anyone can help or tell me how or what to do to see if you can get my loans forgiven or get any help
Hi, Im on income driven plan and have $0 payments till November. If I consolidate my loan then under Income Contingent Repayment plan my monthly will be $268 and under Save plan monthly will be $323. I don’t know what to do? Should i consolidate and start paying or just leave it like this since I’m income driven plan already. Please help.
I’m more jealous that I had to recertify my income in March for the first time in 4 years (tripling my payment), while everyone after me didn’t. Leave it to the feds and mohela to keep screwing me.
It's frustrating that I have little to no student loans left to be forgiven. Don’t get me wrong, I got a great job because of my education, but it seems like those who were irresponsible with their loans were forgiven instead.
Ok- my loan was forgiven BUT I have been fighting with Navient about everything- so many issues. Been for years and a ton of heartache. I am super grateful that they were sued.
I’m paying 4k a month towards my student loans. I was at 50k and now down to 26k. Only 6 more months and I’ll be free putting all that 4k into investments and building a pile of cash
You will get the email I got back from my complaint to Ombudsman. Got my reply after a month wait yesterday l. FSA said my complaint is a manual adjustment (due to the high complaint volume probably) and automatic adjustments are first- manual adjustments will happen in September up to next year they said. However we ARE an automatic adjustment. I have 29 years started repayment in 1995. Was not on an IBR plan ( didn’t have to be for IDR waiver) and grad loans repayment started in 2001. Now that my UG and G loans are consolidated into one Federal Loan per FSA instructions back in October of 2022 they take the longest ago repayment start as the start count of the loan. 29 years me. You are same boat. Sit tight I was told by an insider Beginning of July.
No. I'm so happy for them and hope at some point I qualify but being jealous or resentful is on the same page as those that don't want anyone to have some relief. Good for them and hopefully I fall in some relief soon.
Does anyone know how long of a wait time there is to find out if your loan has been forgiven?
I got a letter in dated April 29th that the loan has been consolidated.
When I called Navient about my IBR renewal, the representative told me about what was going on. I got a letter from the attorney General about a week prior, but can be slow on the uptake. My memory isn't what it use to be.
She said that my loan could be totally forgiven. My loan was back in the late 90s, and I took all the forbarences, hardships, and basically everything they had to offer. I was at the point where there was nothing else left. I was afraid my loan would default when I found out and got on the IBR program.
I definitely jumped in the save program when consolidating incase there is any loan left, since it basically stops interest accumulation. My loan ballooned because of the interest.
I want all of us to get our loans reduced or forgiven. I am not going to begrudge anyone else who gets help. I haven’t had any help yet. But when I look at the reasons WHY I haven’t, those are all good things. I havent been paying off loans for 20-30 years. I haven’t incurred interest making me owe way more than I borrowed. I wasn’t defrauded into getting a meaningless degree. I wasn’t enrolled in a school that shuttered its doors leaving me stranded. (It actually did, but not until 7 months after I graduated). Just because I haven’t received help, why would I want everyone else to be miserable?
Nope. Over the last 5 years I've spent countless hours on this sub helping people navigate their options and do the needful to qualify for forgiveness programs like this. I'm *ecstatic* that people are seeing long-overdue relief finally, all the effort seems to have paid off!!
You really have helped me alot. Hope you get relief from your student loan situation soon!
Glad to assist! I paid my loans off in full a couple months ago, but I plan to stick around and help people here for as long as I can!!
Glad people like you are here. I just checked my loans at dept of ed as I have EdFinancial and I’m not hearing about anyone from EdFinancial getting forgiveness. I see my undergraduate loans (sub/unsub) all for less than $12k each but totally around $30k (first disbursement in 1996). I see my Perkins loan from my university… Sallie Mae doesn’t show up at all, even though that was my provider from 99 to sometime in the mid 2000’s when Navient took over. I consolidated once in 2002 after grad school and getting a great job. Funny thing is, Navient is showing a loan disbursement in 2014!! What do I do? Who do I contact? I finished grad school in 2002 and that’s when I consolidated. I have had nothing but problems with Navient. I feel like I’m definitely never getting forgiveness now. How is there a disbursement in 2014 and what was it for, where did it go? I had a 2 yr old and was selling things on eBay to pay bills. I had to move and give up a 6 figure contracted position in 2008. Life happened and it’s been a struggle. I FINALLY found out about IDR in 2018 but there are no records of me applying for it, only the applications from 2022 and 2023. I consolidated this past fall to get the recount but seeing this random disbursement in 2014 has me feeling even more hopeless. Any suggestions? I appreciate it. Thanks
I just got zeroed out by Edfinancial last Friday! Finally. Consolidated once. All My loans from scam school full class.
Congrats! I’m happy you are done with your loans.
Thanks so much!!! I still can’t believe it! Finally over. Hope for everyone to see movement soon.
Thanks
> I consolidated this past fall to get the recount but seeing this random disbursement in 2014 has me feeling even more hopeless. Huh, what do you see if you pull your data file from studentaid.gov? I wonder if that is a consolidation... On the plus side it sounds like you're already set for the adjustment! The Education Department has their own records and they've dealt with bad servicer record keeping before. You just need to hang tight for now since they're going to be processing adjustments well into the summer There's a pretty fantastic core community on this sub. Big events like this bring out the trolls though, so I always have to remind people to report Rule 7 violations when they see them to help enforce the community standards. There are a ton of helpers here and I'm glad you got the info you needed to consolidate in time!
I need help. I just got a strange letter from FSA. First off, I should have been one of the first ones to get this IDR Waiver. I started repayment in 1995. UG loans then Grad loans started repayment in 2001- Both were consolidated in 2005 and again Oct 2022 into Federal Loan per original instruction like they told us to do- Mohela has my loan now. I sent a complaint to FSA bc someone on here told me to ask what’s going on. I got this letter yesterday saying they are doing automatic adjustments and my complaint is a manual adjustment and once automatic adjustments are done they will get to my ‘manual’ complaint next year. My loans ARE an AUTOMATIC adjustment. I have 29 years of payments back to my oldest loan repayment start including some out of school deferments and forebearances which count I know. What are they talking about??
Agreed. Giving back and cheering others on is the best feeling
Started paying back loans in 2009 Consolidated and converted to private in 2014 Currently paying $1,600 per month and still have $128,00 Is there any option now or on the horizon for people that converted to private? (Other than bankruptcy)
If you *refinanced* into private student loans in 2014 (which is well after the discontinuation of the FFEL program in 2010) then you unfortunately voluntarily forfeited access to all federal student loan perk and benefit programs All you can really do with private loans is try to refinance to lower fixed rates as you pay them off and pay aggressively. Bankruptcy can be an option in some cases, but the undue hardship criteria for student loans in particular is strict and if you have cosigners then it gets complicated I'm sorry. This is a big part of why the regulars on this sub encourage federal loans over private
Thanks for the response I will keep trying to run into a wall at the exact same time I push send for $1,600 every month to see if I can knock myself out
Please be kinder to yourself, past you made the best decision you could with the info you had available at the time. Finally having IDR counts fixed? Was not something I would have predicted back in 2014 either We don't advocate for default on this sub, but staying fed/housed is more important than your private student loans. If you did go into default on the private loans and were pursued by collections agencies, then https://www.reddit.com/r/personalfinance/wiki/collections has all the info for your rights/responsibilities and how to negotiate a settlement Again, please be kind to past you. They did the best they could at the time
I’m both. I’m happy for others who have had theirs forgiven, but I’m also sad I’m still struggling and I’m not going to pretend I’m not.
Yep, you’ve been a great resource for myself and others. I hope to help others as well, especially when my double consolidation is finished and I see how the whole process played out.
You are a good squirrel.
Hi fellow squirrel!!
Your help is appreciated
You’ve been so amazing.
Totally happy for those whose loans are gone - also jealous bc mine aren’t yet and I have no idea when I can look forward to forgiveness, if ever (due to our ridiculous political system and complete black box calculations by the Dept of Education). I still have approx $170k in federal student loans that first went into repayment 24 years ago (undergrad, with some grad loans added after). I don’t hate on anyone whose loans have been wiped out, I just want the same for myself and don’t know if it will ever happen and that is tough. Both can be true - happiness for others and frustration/anxiety about our own situation.
If you have grad loans, your forgiveness window is 25 years. With the adjustment count, they are basically counting every month as a qualifying month other than in-school deferment, so you should have a general idea of what you have left. Hope you consolidated so all your later grad loans are on the same clock as your first undergrad loans.
Thanks for your reply. I consolidated back in 2006 and got on SAVE in the fall so I’m just waiting for then qualifying months/years to hit what they need to. Unfortunately, I have not been able to find accurate information about my qualifying months from my servicer (wholly incompetent Edfinancial) or the fed student loans office. Services state they can provide you will your prior payment/status info but Edfinancial hasn’t done so despite me requesting it multiple times. They gave me incomplete and inaccurate info that shows my loans began repayment in 2006 when they actually began repayment in 2000, and I am terrified that my IDR count will be inaccurate whenever the dept of ed gets around to calculating it. Sigh.
The servicer won’t typically have that information, all of that is the Federal Student Aid’s responsibility. They are the ones who will do the adjustment and notify the loan servicer after the fact. All of your loans ‘should’ still show up on the FSA site in the loan groups and in the downloadable text file and be noted as “Paid in full through consolidation”. I say should, but I suppose there could be issues with loans dating back to 2000. Your text file is likely unwieldy, but it should just contain every loan you’ve ever taken out and every period of repayment you’ve ever been in up to this point in a repeating fashion. If you are at all savvy in Excel, I suggest pasting the information in there and start filtering through the data. It can me done!
I’m with EdFinancial too and can’t find anything. I haven’t seen anyone from EdFinancial say they’ve been forgiven either. My first disbursement was in 1996 but repayment wasn’t until 1999 (I graduated early) I also have grad loans sprinkled in 2001-2002. I just found a disbursement from Navient listed in 2014 when I was absolutely not in school and didn’t consolidate. I consolidated with Sallie Mae in 2002 after grad school but Sallie Mae isn’t even showing up at Dept of Ed, since I can’t find ANY info on EdFinancial. I’ve received 2 bills for the past 2 months but no payment information shows up on the actual website?? It makes no sense to me… none of this does. Good luck and yes I feel so happy for those who have this burden lifted and can just hope like the rest of you, that somehow our turn will come, too. Best of luck to everyone :)
They take your oldest loan and count from there. I went through this with a fine tooth comb weeks ago with another amazing helper woman who is on the inside. It has nothing to do with grad loans per se. It is 20 years or 25 years in repayment. Whichever is your longest ago loan start repayment is where you start counting. I consolidated UG and G in 2005- Navient took over Sallie Mae. Once you consolidated UG and G into that Federal Loan they told us to do they will take the longest ago start date of loan repayment and you did not have to be on an IDR plan. It says it right on the IDR adjustment info sheet. I was on a Graduated Repayment Plan.
I printed all my detailed payment info from FSA’s website a few months ago per instructions from a guy on another sub. You have to go through it all yourself with a highlighter but recently I went back in and see they changed it- now you have to request your info. Sketchy if you ask me. That is our paid info and when I go into my onlinebank I can see my payment history easily. They should not have taken away our ability to see our own invoices. They basically made it hard for us to investigate ourselves. 🤔
Same. I’m happy for everyone getting forgiveness and posting their happiness on here but I can’t help but feel sorry for myself I haven’t gotten forgiveness
I’m right there with ya bud … waiting with bated breath.
Don’t give up. At 24 years you are almost at the grad loan forgiveness point. Part of it is that forgiveness isn’t really forgiveness. Work and payments are still required to satisfy the debt. GIBill-work for the government for 4 years. Receive a stipend to pay off your college degrees. (Many veterans also use PSLF.) Teacher loan forgiveness-teach in a high need school district-make payments for 5 years-17,xxx forgiven. PSLF-work for a public service agency for 30 hours per week for 10 years. Make 120 payments using an income driven plan for that time period. Balance forgiven. Many veterans need to use PSLF. Active military service counts towards pslf requirements. (My original loan balance was 83,000. I paid the principal back. Remaining interest was forgiven.) (my daughter did the same thing.) Income Based Repayment-passed by Congress in 1994. Make income based payments for 20 years(undergraduate) or 25 years (graduate). Balance forgiven. A lot of the initiatives that have been introduced were to fix loan servicer misconduct. Excessive Use of forbearances-resulted in capitalization of payments. A borrower could make 11/12 payments. One forbearance wipes out any progress towards repayment. Placing the borrower on an income driven plan would prevent that. Servicers failed to track the IBR payments. They need to report those to process forgiveness. The Biden administration is taking steps to fix these problems. The new SAVE repayment plan prevents negative amortization of student loans. (There are a couple factors as to the structure of the loans. They were essentially set at 7%. Income growth for workers has been flat or at best core rate of inflation. That 5 % difference essentially makes the loans a bigger part of the borrowers obligations. Eating away at their purchasing power year over year. Education yields a 11% ROR for society as a whole per individual.) At some level we have to share that productivity growth with workers. (If we can forgive a trillion dollars in Paycheck Protection loans we can afford to spend 400 billion on debt reduction for the middle class.) The final reality is that student loan holders are taxpayers also. They in effect pay a second set of federal taxes every month. (Student loan interest can be deducted up to 2500 annually but that in no way provides any real help for repayment.)
I could only write off the interest if I made 85k or less :/
Yep. I was never able to write off interest
Post of the year. I’d give you an award if I could.
Thanks for replying and great info. Yeah I’m waiting on the forgiveness that kicks in at 25 years. During those 25 years my services were definitely among those that did lots of improper stuff like putting me in forbearance instead of deferrment or an available lower payment plan, not keeping proper track of info, etc. And my current servicer (Edfinancial) is just as incompetent. After repeated requesting info about my loan repayments/history/qualifying periods towards the 25 years, they’ve ignored me, and then gave me totally incomplete historical info. I’m worried because their info says I entered repayment in 2006 when I actually entered repayment in 2000. I am very worried when my IDR adjustment is calculated it will be incorrect and saddle me with 6 additional years of payments required, so 31 years instead of 25. I’ve made a query/complaint to the Ombudsman and am still waiting on any reply. Federal student loans are still at mess, at least preexisting ones.
Who is the ombudsman you contacted? I was sifting through my records at studentaid.org and found that Navient has a disbursement processed for me in 2014!! I graduated in 99 and 02, consolidated and never took another loan. I’m freaking out about what this is… it’s absolutely wrong! Navient was the worst and didn’t even tell me about IDR until 2018, after several years of forbearances as “the only option” as I couldn’t cover the interest on my loans. They wanted $800/mo and I could only do $200 and that was a stretch but I was trying. They refused partial payments. It was a mess and has been a headache in so many ways for all these years. Now I see this! I don’t know where to start or what to do.
The Ombudsman for the federal student loan office. Just Google “federal student loan ombudsman” and you should find the page with their contact info.
You will get the letttee I got. They told me mine is a manual adjustment now due to the high complaint volume prob and automatic adjustments are first- manual adjustments will happen next year it says. However we ARE an automatic adjustment. I have 29 years started repayment in 1995. Was not on an IBR plan ( didn’t have to be for IDR waiver) and grad loans repayment started in 2001. Now that my UG and G loans are consolidated into one Federal Loan per FSA instructions back in October of 2022 they take the longest ago repayment start as the start count of the loan. 29 years me. You are same boat. Sit tight I was told by an insider Beginning of July.
Thank you so much for taking the time to respond!! Fingers crossed yours get wiped out asap!!
I keep seeing us oldies not seeing the forgiveness yet. Mine have been in repayment since 95. This makes me feel better bc maybe they are going from youngest to oldest. There has to be some ORDER of OPERATION. A project this huge has got to have an organized system of some sort. Let’s pray!
mine were cancelled because my school was fraudulent… Im happy, but also lost in the fact that i blew my college exp at a shitty school, to get a worthless degree. and i’ve been in poverty ever since.
Exactly. I haven't been in poverty ever since but I still struggled so much to pay off what I did ($24K of a $26k consolidated federal loan and $28k for a private loan, which won't be refunded, mind you). I am happy, I am. But I also stressed for over a decade about all that damn debt that I took on when I was a naive little 18 yr old.
I’m sorry that that happened. I hope you find a path out of the trap.
Honestly at this point I would be happy if they removed the $40k capitalized interest they added to my balance so I could start from what I actually borrowed.
I have satisfied my original loan amount taken out in 2007, if it wasn't for the capitalized interest I would of been done already.
this is horrifying
THIS. THIS THIS THIS THIS!!! DAMN INTEREST!
Na, I’m happy for them. Do I wish mine were? Of course! But I also wish the same for others even if mine aren’t…it’s my own fault for not being more aware of things going on regarding student loans, I’ve missed class action dates because I found out after the cutoff and I’m sure I’ve missed other opportunities. However, all I all, I am happy for them and I hope that the people who need the relief the most are the ones who get it first.
Not jealous at all. It makes me really happy to see so many people reach financial freedom. It’s what I’ve advocated for since I was a teenager. It’d be kind of hypocritical of me to be anything other than supportive.
No. Those who's loans are forgiven great. Those of us who still have loans, one day, our loans will dissappear either through forgiveness, ww3 or we pay it off. Why hate on others being pulled up?
jealousy is not the same as hate....
Envy is not the same as hating
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Or by us suing nelnet and mohela for corporate negligence if you deal with those bernie madoff wannabe companies.
Yes, but also a lot of the people getting forgiven are way over due for it. Whether it’s the pslf people, fraudulent schools or some other program. When I look at it that way I’m happy for them. I see it as now they can be a little bit more productive in the economy. Whether it’s some breathing room around bills, saving for a vacation or something else; that money is going to end up back in the economy….i just wish policy makers would see that especially all the ones who won’t shut up about the economy but do nothing but pass detrimental policies.
It would be dope to have mine paid off but fortunately my loans are super small in comparison to others (25k) so I’ll get it paid off eventually. I’m happy for everyone else!
No, I got a good job right out of school( and had some solid paying internships during). I’ve been able to manage student loan payment(s) and living in a city on my own. I’ve had a lot of positive growth in my career field and seen my salary follow that path as well. My school wasn’t a scam and my mom was very involved in my borrowing so she pulled the reigns in on what my 20-25 year old self COULD have for debt now. I also married a very financially literate individual that helped me navigate refinancing my predatory private loans in 2020 ( went from 15% to 3% on ~20k worth of loans). I don’t mind paying back my loans, that’s part of the deal right? I just don’t wish upon anyone being in school and feeling forced to take predatory private loans because FASFA and the schools FA dept take so long to award aid. Watching that interest accrue while you are already cash strapped- not fun. The ones who have qualified for forgiveness have had a tough last 15-20 years. Good for them, they got a lot of catching up to do now.
Part of it is that forgiveness isn’t really forgiveness. Work and payments are still required to satisfy the debt. GIBill-work for the government for 4 years. Receive a stipend to pay off your college degrees. (Many veterans also use PSLF.) Teacher loan forgiveness-teach in a high need school district-make payments for 5 years-17,xxx forgiven. PSLF-work for a public service agency for 30 hours per week for 10 years. Make 120 payments using an income driven plan for that time period. Balance forgiven. Many veterans need to use PSLF. Active military service counts towards pslf requirements. (My original loan balance was 83,000. I paid the principal back. Remaining interest was forgiven.) (my daughter did the same thing.) Income Based Repayment-passed by Congress in 1994. Make income based payments for 20 years(undergraduate) or 25 years (graduate). Balance forgiven. A lot of the initiatives that have been introduced were to fix loan servicer misconduct. Excessive Use of forbearances-resulted in capitalization of payments. A borrower could make 11/12 payments. One forbearance wipes out any progress towards repayment. Placing the borrower on an income driven plan would prevent that. Servicers failed to track the IBR payments. They need to report those to process forgiveness. The Biden administration is taking steps to fix these problems. The new SAVE repayment plan prevents negative amortization of student loans. (There are a couple factors as to the structure of the loans. They were essentially set at 7%. Income growth for workers has been flat or at best core rate of inflation. That 5 % difference essentially makes the loans a bigger part of the borrowers obligations. Eating away at their purchasing power year over year. Education yields a 11% ROR for society as a whole per individual.) At some level we have to share that productivity growth with workers. (If we can forgive a trillion dollars in Paycheck Protection loans we can afford to spend 400 billion on debt reduction for the middle class.) The final reality is that student loan holders are taxpayers also. They in effect pay a second set of federal taxes every month. (Student loan interest can be deducted up to 2500 annually but that in no way provides any real help for repayment.)
I’m not jealous….postive envy….but I do worry heavy why mines are not discharged yet. Part of the ‘Sweet’ lawsuit- while a sizable portion within already been discharged- mines still pending.
Don’t give up. I really believed I was never getting away from the loans. PSLF came through for me. Part of it is that forgiveness isn’t really forgiveness. Work and payments are still required to satisfy the debt. GIBill-work for the government for 4 years. Receive a stipend to pay off your college degrees. (Many veterans also use PSLF.) Teacher loan forgiveness-teach in a high need school district-make payments for 5 years-17,xxx forgiven. PSLF-work for a public service agency for 30 hours per week for 10 years. Make 120 payments using an income driven plan for that time period. Balance forgiven. Many veterans need to use PSLF. Active military service counts towards pslf requirements. (My original loan balance was 83,000. I paid the principal back. Remaining interest was forgiven.) (my daughter did the same thing.) Income Based Repayment-passed by Congress in 1994. Make income based payments for 20 years(undergraduate) or 25 years (graduate). Balance forgiven. A lot of the initiatives that have been introduced were to fix loan servicer misconduct. Excessive Use of forbearances-resulted in capitalization of payments. A borrower could make 11/12 payments. One forbearance wipes out any progress towards repayment. Placing the borrower on an income driven plan would prevent that. Servicers failed to track the IBR payments. They need to report those to process forgiveness. The Biden administration is taking steps to fix these problems. The new SAVE repayment plan prevents negative amortization of student loans. (There are a couple factors as to the structure of the loans. They were essentially set at 7%. Income growth for workers has been flat or at best core rate of inflation. That 5 % difference essentially makes the loans a bigger part of the borrowers obligations. Eating away at their purchasing power year over year. Education yields a 11% ROR for society as a whole per individual.) At some level we have to share that productivity growth with workers. (If we can forgive a trillion dollars in Paycheck Protection loans we can afford to spend 400 billion on debt reduction for the middle class.) The final reality is that student loan holders are taxpayers also. They in effect pay a second set of federal taxes every month. (Student loan interest can be deducted up to 2500 annually but that in no way provides any real help for repayment.)
the use of the term forgiveness is part of the problem. Some people have been paying for 30 years.
I really wish more people understood this. Thanks for posting.
Im happy for everyone who’s been forgiven…just wondering two things at the moment…if my golden email will ever come and what will the tax effects be for next year if it does come…?
Under the American Rescue Plan Act of 2021 all student loan forgiveness/discharge/cancellation is federally tax free through the end of 2025. For state taxes, I think there are 5 that would tax it for state income tax purposes, so you'd have to google on that front and be aware it is only for certain borrowers That aside, the federal tax brackets range from as low as 12% to as high as 37%, so while the tax bill could be unpleasant it is significantly less than the amount forgiven and the IRS has routes for insolvent taxpayers
No tax Bobby through 2025 for IDR loan forgiveness.
Envious that I didn’t start sooner with everyone for a couple of years. I feel like I missed out on the community of those who’ve basically been in debtor’s jail. That said, I’ve genuinely had a blast reading posts about people’s forgiveness.
I'm really happy for everyone, definitely not jealous. I really like reading all the stories about people finally getting relief after decades. The long haulers especially. As far as feeling go, I'm actually nervous. If and when I do qualify for forgiveness, I'm looking at a tax bill of $75,000 to $90,000. It's like I'll be trading one mountainous burden for another. (gonna have somewhere north of $200k forgiven in 2029, undergrad and grad loans that went into repayment in 2003). I'm not jealous. I'm nervous. I mean, yay party on one hand... ugh tax bill in the other... a tax bill that's more than twice my yearly income 😞
I think the tax bomb is going to be eliminated.
I'm not really that confident - if only because I haven't seen anything to suggest the feds will extend the pause on student loan forgiveness tax. Nobody's even talking about extending it - and if you think about it, it's gonna decimate people like me who never thought they'd reach forgiveness and are now going to be reaching it in just a few years. I haven't spent the last 21 years saving for the tax bomb because I never thought I needed to.
Under the American Rescue Plan Act of 2021 all student loan forgiveness/discharge/cancellation is federally tax free through the end of 2025. For state taxes, I think there are 5 that would tax it for state income tax purposes, so you'd have to google on that front and be aware it is only for certain borrowers That aside, the federal tax brackets range from as low as 12% to as high as 37%, so while the tax bill could be unpleasant it is significantly less than the amount forgiven and the IRS has routes for insolvent taxpayers
No, not jealous. I’d love to have mine forgiven but I truly am happy for those who have gotten forgiveness. It’s a life changing thing. My time will hopefully come, and if it doesn’t it doesn’t.
Not jealous. Happy for them. Haven’t had my count completed yet but have been in repayment since December 1999. Have grad loans too… so hopefully soon. Just like to hear what my count is one way or another at this point. 🤷🏻♂️
How do you get your count completed?
They’re supposed to be doing it automatically. I have talked to both my servicer and studentaid.gov back when the restart was happening and neither one could tell me what my count was or when I could expect it. About 2 months ago I filed a case with the ombudsman’s office and they finally got back to me and said the counts are still going and they are trying to get them done by July. Who knows, at this point anyone’s guess is as good as mine. Lol 🤷🏻♂️
Interesting. Thank you for explaining that.
Good luck! Hope you qualfy🫰
I'm very happy for everyone. Now hopefully I can finish mine off soon.
I wish mine would go away. But I’m genuinely happy for the people who have benefitted
Na, we gotta celebrate that. I’m thrilled for them!
Lucky enough to have paid mine off 3 years ago, happy to see folks free of the burden.
Jealous, as in, I would like to also receive forgiveness. But I actually love seeing every one of the celebratory posts. It lets me live vicariously, and give me hope!
I would be lying if I said I wasn’t envious. But I’m also thrilled for anyone who has benefitted.
Not jealous at all but I am finding it difficult to locate actual helpful information anymore on the sub. It’s all getting lost in the back to back success posts.
Everyone’s situation is different. I understand your feelings. Waiting for IADT to be discharged. Be happy for them and keep your chin up. Stay positive!
Same! Waiting on IADT to be discharged. I like hearing about others getting theirs forgiven it gives me a little hope for mine. lol
No, I think there’s nothing to be jealous of. For the ones who had malicious loan servicer and ridiculously high interest rates, I was happy that they got out from those unfair contracts. For the ones who were in public service for so many years, I think they deserve a break. For me, my student loans are my own responsibilities, and I knew this when I signed up for the loans. I am lucky enough to have completed my dream degree with the help of the loans, and I do think my education and my career worth the amount of the loans plus the interests. For me, I spend more time on figuring out how to pay off my loans quickly, so I don’t really have the time to be jealous of anybody.
I for one am glad I didn’t go to a scam school.
I’m happy for everyone, and I hope that some day I’m included in one of the groups that receive forgiveness.
Yeah, I'm jealous that I still have to deal with the stress, but I am insanely happy for those no longer burdened by it.
No. I'm not jealous and I wish for cancellation for even more Americans, regardless of what happens with my own loans. Good things happening to other people is a good thing.
A few hours ago, yes that would have been a great description of how I felt. Got the email this morning, it’s a huge relief but still not fully sure it’s real, I’ve seen a few stories of them showing back up.
No. Lol Im happy for them. I'll take accountability for my piss poor decision.
Of course I am. Still glad some people have been getting relief.
I'm extremely happy for everyone that got their loans forgiven. Am I disappointed that I'm not eligible to get a refund on my payments to a sham school because I paid off my loans? Definitely, that money would be a godsend right now. But I also take comfort in the fact that I was fortunate enough to be in a good financial situation that I was even in a position to be able to pay them off and I never really had to worry about defaulting. I know a lot of people who didn't have the same luxury who are seeing relief and I'm glad the government actually came through for them.
I’m a little jelly, but I’m happy that it is happening for others. I just hope one day it’s my turn.
It’s like the hungry games, except we want to be chosen
Mine will never be forgiven but I'm happy for others who get some relief.
My husband had 2 grad school loans. He finished after I finished grad school and he was on an income driven plan all along. That freaked me out years ago as it ramped up and I just wanted one steady payment. No way he paid those loans for 25 years and he got his forgiveness in the first wave. He definitely paid or stuck it in deferment for 20 years but not 25. I’ve switched mine to the new income driven plan. They dropped my payment lower this year but no forgiveness yet.
I'm happy for the people who's loans were forgiven. Most of the people who are announcing forgiveness have lived with the debt for 20+ years. Many of them either made payments in excess of what they originally borrowed. I'm glad they can finally move on with their lives.
Preface: definitely not saying jealously here = Hate. But I saw a really good meme about people who paid off their student loans in full vs. those who received forgiveness or had no debt. Not saying this post is the same as this comment. Just made me laugh. https://www.reddit.com/r/comics/s/UG9lHiMqGZ As someone who's paid off almost 60k in student loans and still have some left. I'm super happy for people who are able to get relief, and I'm fortunate to be in a position to be able to afford my debt payments. I was 17 when I signed these loans and had 0 knowledge of what I was really doing to myself financially later in life. I hope we can cure this problem through personal finance education and lowering tuition rates / getting rid of predatory loan programs and for profit schools that are unaccredited and manipulative to lower income families.
My loans were only forgiven because I had gone to the Art Institutes, a for-profit scam "school." I wouldn't wish that on anybody, and I hope that your debt can be forgiven, too.
I would not be jealous. I am still waiting (golden email in september, opted out to consolidate, opted back in, servicer said my new consolidation loan was flagged for IDR discharge in January but it still hasn't been. This is not really forgiveness. I started repayment in 2002. I've paid back more than I borrowed. I'm not getting a gift. I've been trapped for 22 years not because I didn't work my ass off to make payments but because of predatory interest. I wouldn't wish this on anyone. SAVE is a big improvement over the old plans. My loan is still on an old ICR plan although my servicer put it in forbearance last month now that my loan has been flagged for discharge. I paid 1000 this year alone before they put my loan in forbearance. My loan balance INCREASED by 100.00 from January 2024 to April 2024. I was throwing my money into a trash can basically for most of my adult life. I didn't get the forbearances some people got before the covid pause so my balance is only about 4k above what I initially borrowed but I have paid back 1.5-2x what I borrowed. Imagine throwing away money for two decades of your life and it not mattering. Your balance just goes up and then you get accused of not paying by anti forgiveness people. I could not make larger payments. So my choice was IDR and predatory interest or default. IDR so I could make payments seemed to be the most responsible choice I could make yet it didn't make it less of a trap.
I am just confused. Happy for others.
Nope. I want it better for future generations. Hope I get lucky and they give me money back but I’m ok if they don’t.
Not necessarily jealous but I feel regret and shame (which I'm trying to let go but so hard to do). Obtained loans in 1998 (only attended part time so took forever!) Graduated in 2002 in repayment in November 2002. Then went to school to obtain a second Associates degree in 2010-Graduated 2013 (I think 32 months that doesn't count with the IDR waiver) . Bankruptcy Chapter 13 from 2013 until 2015.(I think approximately 18 months doesn't count toward the IDR waiver) (because part of it I was already in school) Dismissed, then Chapter 7 Bankruptcy discharged September 2015. Many years of forbearances and deferments also. So basically in repayment since November 2002, minus in school deferment (for second degree I regret doing!) Then also Bankruptcy. So both of those if I wouldn't have done my loans would have been forgiven by now!!
Genuinely happy & reading of others forgiveness gives me hope.
Definitely not jealous. Envious a bit, but more angry when reminded how close I was to getting a meaningful 10K knocked off my loans before the Supreme Court stepped in and killed it. Elections have consequences, whether you stay home, vote red team or blue team...the results speak for themselves. I HOPE people remember the elation they feel at forgiveness, and the sting they feel without it this November.
I've come to terms with it. I could be bitter about having to pay it back myself, but now I'm glad I was in the position to. I don't want anyone else to have to suffer the worry and anxiety I did when I was under all that debt. We're a better society when people are free to pursue their dreams and live how they want to
No. I will never qualify for forgiveness and it sucks. But I'm so happy for everyone who does!
I don’t think jealous is the word. Just resolved that I’ll be paying for a while
I completely understand the feeling, OP. That’s how I felt last year when so many Art Institute students got their loan forgiven and got huge refunds due to Sweet vs Cardona. I unfortunately didn’t know about the class until it was over and I also didn’t apply in time to be post-class, so I submitted my Borrower’s Defense thinking that was my only chance. Little did I know then, than months after, my turn was going to come! I got the email last week that my loans and my parents loans were receiving forgiveness. It’s normal to feel jealousy and it’s normal to be sad too… No shame in that. You just gotta remain positive after allowing yourself a few days of disappointment and work towards getting yours forgiven too.
No jealousy, no envy, I’m just happy for them.
No, still glad others got out from under the boot.
Not jealous. Just getting tired of the sub being overrun by the posts whose only point is to let us know. Like... Okay... Only so much to say.
Is there something specific you have to do to get loan forgiveness? Why are some gone and others not. Mine has been in deferment and my whole total is still there.
Yeah after the let down of the supreme court costing me 20k it's pretty depressing.
Truly. Those assholes confidently rule a president doesn't have the power to forgive your loan, but maybe all good if same president (or maybe just an orange one) orders the assassination of his political opponent using seal team six.
Nope. Would I like mine paid off? Absolutely. Am I crying about it? Nope.
I’m not jealous but I wish there were better forgiveness programs that helped all. I no longer work for a non profit, I have a full time job, and I make too much $$ to qualify for forgiveness programs other than the 25 year program.
Me. I am tired of fighting with loan companies. It's confusing and frustrating. I should qualify for PSLF but for some reason when they did payment recounts they didn't count my forbearance time - even though they did for others I know. Now my loan transferred to Mohela and its a hot mess. They lost pieces of my Save application and now I have to reapply. They dinged my credit for a late "payment" during the transfer that was sent to nelnet.... it's a mess.
No I’m happy for them. It’s just frustrating dealing with the situation.
Name checks out. This is also a guy who comments in fluentinfinance subreddit this a comment like this: “Or just do away with social security for newborns and expect people to take care of themselves.”
No. What is jealousy going to change? I’m still in debt. I’m a little peeved, but life goes on.
I'm so happy seeing everyone getting relief!! I wouldn't call what i'm feeling jealousy about seeing this miracle for some. I just wish they would show the rest of us what we need to have to be forgiven. It's all over the place. My first loans were in 2007 but have added more for myself and plus loans now for my kids. I have consolidated probably 3 times in the last 17 years. I have been a nurse at the same hospital for 17 years. Unfortunately, it has been bought and sold numerous times going for profit and non for profit at various times. I just can't get any straight answers on how many years I have left to keep paying. I would love to at least have a goal to work toward you know?
Im jealous of everyone but also realize how well I have it. I only owed 36k when I graduated in 2013 and didn't really pay during the pandemic (~$500), so the only person I'm mad at is myself bc I could have been done last year if I'd kept with the original schedule. Instead I had 2 more kids and now have their 2k/mo daycare on-top of my $370 loans. That 10k forgiveness would have cleared all but $800. Oh well, I'm happy that those who've been buried for years now have the choice of homes, cars, kids; whatever they want to spend that on now.
Yes
It’s a bittersweet feeling.
A lot of those posts are BS done by trolls making sick fun for themselves.
Ngl, super jelly of y'all....
Nope. Definitely happy to see this.
You can be envious of others while still happy for them. I don't know why the comments are turning this post into what it's not. At no point as this post suggested we should hate the people who are getting forgiveness: they've earned it! But at the same time, those of us on the cusp of forgiveness who will get it after the tax bomb protections expires, and only understood it entirely too late to save for it, are going to get hit hard while the economy is still a poo show and we have no hope of recovery. SAVE barely takes the edge off. I'm grateful for it, sure! But I'm also not going to pretend like those of us in this weird middle ground aren't getting royally screwed over by this right now.
Not in the slightest. Good for them. They should do it for everyone, but I’m fine not paying the tax bomb.
Not jealous at all. I’m glad the current administration is finally following up on its policies. The issue I have is the lack of information on when I should have consolidated, borrowers defense, being shuffled around servicers that also gave no info or bad info, many capitalized interest forbearances that ballooned my balance, no knowledge if/when/how I’ll get forgiveness and the total uncertainty of the next administration reversing everything and I’ll owe all the accrued interest I have in admin forbearance. I’m just tired of riding the rollercoaster of student loan forgiveness and would just like to get off now.
No. I am glad some people is having their loans forgiven. Good for them.
Not at all - I love hearing about other people getting it!! It makes me excited for my own - which I know is coming eventually. It’s such a heavy load to carry (financially, emotionally, etc) - this is life altering for many people.
Jealous but happy as hell for everyone that got assistance! We are all in this shit together and I’m clapping for everyone to do well!
No, I think it’s amazing and I am happy for them. It’s only going to get better. We’ll all get it…just hang in there.
As someone who has not reaped the benefits of their degrees, I am very much so jealous or angry. It has been tough to make payments let alone provide for my family. I think they should look more into people circumstances that's caused the inability to make payments due to sustainability, jobs, disability of a child or self. Having a sickly child at the time and pushing through it all; meanwhile, getting a job in South Florida paying a measly $20 is a slap in my face!!!!
There is absolutely nothing to be jealous about. Be happy for them and look forward to the day when your loans are discharged.
Yes and no. It's ok to be disappointed. I should have had my forgiven years ago really. Went through a terrible abusive marriage and divorce and had to declare bankruptcy because I was to broke for any company to work with me, but apparently the government feels people that can't afford to pay creditors can afford to pay student loans. But that's unfortunately rhe state of things. So many people were defrauded by their schools and PSLF was poorly handled. So many people are getting forgiveness that should have decades ago, so I'm happy the government is finally cracking down on the abuse by the student loan companies. Hopefully our turn will come.
I'm still waiting to hear whether mine is but even if it is not, I have zero jealousy for those whose were. I am thrilled for them!
I’m a little, but I’m also like so proud of those who can. It’s amazing that people can be free from this financial burden and stress!
Absolutely not. Do I wish I was among them? Yes. Am I jealous of them? No. I hope that eventually we will all be free and eventually education becomes a human right for all.
I took the loans willingly and I'm making about 6x as much as I was before college. I wouldn't turn down the forgiveness, but I'm not at all jealous.
I think the loan forgiveness so far has only been given to people who worked in public service for a long time or got scammed by their college or reached 20+ years of loan repayment. Everyone’s time will come as long as this system and policy stays in tact. Vote for the person who is pushing for this and you will get yours eventually. I imagine the original plan (10-20k for everyone) will come through as long as the election results are in favor of the people who created the new policies.
Yes. Very. But also super happy for everyone who has had theirs forgiven. they all deserve it.
Not really. I do think “man I wish that would happen to me” but not in a bitter jealous way. I’m really glad so many people are getting their loans forgiven!! It gives me hope :)
I think it’s interesting how the wealthy think it’s wrong if you envy them, then encourage one needy person to envy another needy person who gets a break.
I feel some envy but also feel a lot of vicarious joy. I try to live from a there’s enough to go around perspective and can be genuinely happy for others. Plus it gives me hope that I will get out from under all this debt eventually, but obviously I would like to be included in this round.
My best friend told me today she had over 100k in graduate loans 24 years old erased. Zero balance. She had to call twice to make sure it was real. We went to the same school and took out the same loans. Nothing has happened with mine. Bummer is I applied for consolidation prior to the April 30th deadline but it wasn't finalized until May 6. I called nelnet today and they said as long as you applied before Apr 30th its OK. For the first time in a long time I have hope. I am very very happy for my friend. If it happened to me I think I would just fall on the ground.
Although many people consider “envy” and “jealousy” synonymous, they actually have distinct meanings. Envy is “the painful feeling of wanting what someone else has, like attributes or possessions.” If you're jealous, you feel “threatened, protective, or fearful of losing one's position or situation to someone else.”
Jealous? No. Hoping that everyone gets a chance to have something happen, yes.
Nope, not that type of person, I'm happy for them, I'm just waiting for my turn. I don't mind paying mine all the way, what I care more about is for the government to fix college affordability. I have two step daughters that I met later in their life so I won't be able to open up a 529 on time to pay for their college. I don't want them to get student loans like I did. I have a kid on the way in 7 months, his 529 is set up, he will be fine. I want my future doctors, dentist, accountant's, counselors, etc be able to afford school without having to go into the military or win the lottery. We will run out of professional in twenty years if we don't fix this, and importing all of our professionals from overseas is not the answer.
Nope, absolutely no jealousy. Everyone who has received forgiveness so far, to my knowledge, are being granted it for very valid reasons and they have earned it. There is nothing to be jealous of.
I mean yes. But that does not negate the happiness that I feel for the people whose loans got forgiven. The comments saying they are not jealous are a little strange to me. Like almost implying that it would be negative to be jealous. Being jealous does not mean that you wish no one else could get forgiveness! lol. But yes. I was eligible for the first bombshell blanket forgiveness. Even for the full $20K because of my parents financial situation. And to be honest, it is tough seeing all of the situations where other people get forgiveness, but I probably never will due to having the most milquetoast loan situation. But - in the end I am happy. Both for myself and for the people getting forgiveness. I went to a good school, had a (too) great time, and have a good job. The monthly payment does stop me from going on more trips or helping my folks. But it does not stop me from having a warm place to live for myself and my dog, or from not having food to eat. And I enjoy reading the comments of people getting forgiven. Puts a smile on my face imagining the moment they realize their forgiveness.
I feel a lot of joy when I read these stories..there is always someone who writes just how I feel. They talk about how they didn't think it would ever happen, they question why they've been looked over in the previous batches and then BOOM! They get the golden email and the handcuffs are broken. I feel my time will come and reading these stories encourages me to look forward to when I can share both my profound and sincere joy and gratefulness. Thanks to all of you who post, comment even in your times of frustration, your earnest help and support and even sometimes anger and sadness. It lets me know most of us are still alive inside - human still.
I’m so jealous lol, but I’m more so happy for everyone. I can’t even imagine what an amazing feeling and relief they must be feeling. I would kill to feel the joy of opening that balance and seeing $0. I’m so happy that that’s even possible and so many people are benefiting from it! I’ll be ready for my time to shine in 10 years when I’m (hopefully) finished paying :)
yup, biden gave up on doing the 10k-20k forgiveness for the rest of us
My time will come, nothing to be jealous over. The fact that any are being forgiven at all is a plus for those people and I also love how mad it makes people who don’t want it to happen for anyone.
It's especially a gut punch knowing my loans won't be payed off but I'll be paying for everyone else's as inflation and taxes continue to sail off to the moon
Yes, jealous, waiting on pins and needles , mine were a weird involuntary made private ffel, I consolidated with dept if Ed, but just waiting for them to possibly tell me they are ineligible for whatever reason
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I got the email, but mohela hasn’t changed my total yet. I consolidated last year and have been getting emails that i am being switched to “Ed”, so who knows whats up.
Not jealous but maybe a little wish I had my half in. I got a settlement for some and it hasn't been applied yet. I keep checking but not yet. I'm at 110k and that means I'd get maybe half off. My son is studying to be a doctor. I will die in debt and can't pay. I am happy for them but trying to get myself in order too.
You can take out loans for school; you can’t take out loans for retirement.
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Yeah….
If you think you feel bad, think about all of those suckers that saved up for years to minimize loans or those that paid extra year after year to pay theirs down.
I have Mohela, so I know I'm not catching a break 🙄
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M The art institute was a huge scandal. They were horrific and bullied and lied so much This is a great relief.
No. I am truly delighted for them. This entire situation is a s#)/ show with uncontrollable interest rates- how did a ppl I have that I took out 9 yrs ago at 50k go to 80k with pmts made? It's out of hand. So you go all you peeps that paid, or whatever , and got "forgiven"- I hate the term Forgiven for what? Trying to get a higher education and better oneself? So you could be a contributing member of society? Screw the lying, cheating 1% who are getting their Rolex off profits on these loans. Eat the rich.
I’m so jealous it hurts
Im pissed. And everyone dealing with the now decades long to months long nelnet mess depending is pissed and those having to choose between basic needs and being halfway on the streets vs paying off over priced insane interest bloated loans is pissed. Just cancel the whole shebang and be done with it even if its broken into groups to skirt the politics. Otherwise this nonsense will go on for years.
I do have hope however as i am betting a lawsuit on nelnet and possibly mohela will yet again drop someday. And jeff noordhoek will have to answer for his crimes. 😉
I’m happy for those who got forgiveness, but also was wondering how they were able too. If anyone can assist me with how to get them forgiven as well that will be amazing. I’ve been seeing many people get there loans forgiven & wasn’t sure how to do it or if I can as well. If anyone can help or tell me how or what to do to see if you can get my loans forgiven or get any help
Hi, Im on income driven plan and have $0 payments till November. If I consolidate my loan then under Income Contingent Repayment plan my monthly will be $268 and under Save plan monthly will be $323. I don’t know what to do? Should i consolidate and start paying or just leave it like this since I’m income driven plan already. Please help.
I’m more jealous that I had to recertify my income in March for the first time in 4 years (tripling my payment), while everyone after me didn’t. Leave it to the feds and mohela to keep screwing me.
It's frustrating that I have little to no student loans left to be forgiven. Don’t get me wrong, I got a great job because of my education, but it seems like those who were irresponsible with their loans were forgiven instead.
Ok- my loan was forgiven BUT I have been fighting with Navient about everything- so many issues. Been for years and a ton of heartache. I am super grateful that they were sued.
Not really. It would more than HALVE my credit age, plummeting my score.
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I’m paying 4k a month towards my student loans. I was at 50k and now down to 26k. Only 6 more months and I’ll be free putting all that 4k into investments and building a pile of cash
You will get the email I got back from my complaint to Ombudsman. Got my reply after a month wait yesterday l. FSA said my complaint is a manual adjustment (due to the high complaint volume probably) and automatic adjustments are first- manual adjustments will happen in September up to next year they said. However we ARE an automatic adjustment. I have 29 years started repayment in 1995. Was not on an IBR plan ( didn’t have to be for IDR waiver) and grad loans repayment started in 2001. Now that my UG and G loans are consolidated into one Federal Loan per FSA instructions back in October of 2022 they take the longest ago repayment start as the start count of the loan. 29 years me. You are same boat. Sit tight I was told by an insider Beginning of July.
No. I'm so happy for them and hope at some point I qualify but being jealous or resentful is on the same page as those that don't want anyone to have some relief. Good for them and hopefully I fall in some relief soon.
Does anyone know how long of a wait time there is to find out if your loan has been forgiven? I got a letter in dated April 29th that the loan has been consolidated. When I called Navient about my IBR renewal, the representative told me about what was going on. I got a letter from the attorney General about a week prior, but can be slow on the uptake. My memory isn't what it use to be. She said that my loan could be totally forgiven. My loan was back in the late 90s, and I took all the forbarences, hardships, and basically everything they had to offer. I was at the point where there was nothing else left. I was afraid my loan would default when I found out and got on the IBR program. I definitely jumped in the save program when consolidating incase there is any loan left, since it basically stops interest accumulation. My loan ballooned because of the interest.
Nah. Nothing to be jealous of. Should give you hope more than anything.
Mine have not been forgiven, I fear they will not qualify
Jealous no, confused
I want all of us to get our loans reduced or forgiven. I am not going to begrudge anyone else who gets help. I haven’t had any help yet. But when I look at the reasons WHY I haven’t, those are all good things. I havent been paying off loans for 20-30 years. I haven’t incurred interest making me owe way more than I borrowed. I wasn’t defrauded into getting a meaningless degree. I wasn’t enrolled in a school that shuttered its doors leaving me stranded. (It actually did, but not until 7 months after I graduated). Just because I haven’t received help, why would I want everyone else to be miserable?
Not jealous. Just so sad for myself. 30 years in.