Quote:
Originally Posted by retiredguy123
I'm confused. I don't think my statements were incorrect. Federal employment qualifies for student loan forgiveness of up to $60,000. OPM calls them loan payments, not loan forgiveness, but it amounts to the same thing. My only other point is my opinion that I think having a federal job is more of a benefit to the employee than to the Government. We don't need to offer an incentive to get people to accept federal jobs. They are in high demand.
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Incorrect, in general, no......misleading and in complete..yes they are.
Those four requirements are:
You must have received your Student Loan under the William D. Ford Federal Direct Loan Program, and your loan may not be in, or have ever been in default
You must make 120, full, on-time and scheduled monthly payments on your Direct Loan (and only payments made after October 1st, 2007 will count toward the required 120)
You must make those 120 monthly payments while enrolled in a qualifying Federal Student Loan Repayment Plan
You must be, or have been working in a full-time position at a qualifying public service organization (any Government position counts) at the time each of those 120 monthly payments were mde.
I am offended at the general comments about those who have or ever had a student loan.
Ask who is and has been making money on these young people...Wall St for starters.
These are young people who simply wanted an education, could not afford it, and took out a student loan to make their life better.
In 2000, some recognized how the repayment, interest, etc was eating up these people, and a proposal was passed to allow forgiveness, UNDER CERTAIN CONDITIONS, all purported to be in the best interests of our country.
Allowing those who faithfully had made payments for TEN years and were working in what lawmakers considered non profit or public service jobs to have a way out made sense.
An attempt to cap the "forgiveness" was attempted during last administration but never made it even to the floor.
I just don't see the fairness of painting such a negative picture of people with no facts, and only vague generalities.
To simply cancel these programs and tell them to declare bankruptcy is, to me, a very lazy way out.
Why is there no discussion on the program itself. Posts on this limited thread simply paint a very false picture.
Discussion ..sure.....but to not even take up the issue, take remedial action where necessary is lazier than the picture being painted of those who use this chance to move on. Those who are making money on these young people sure must like this.
I realize as everyone seems overjoyed to point out that these folks knew their obligation....all the programs require the ten year on time payments....all the programs have a continuing and increasing interest rate...all the programs require a total repayment if default.....why is not our congress WORKING on discussing and resolving, or is cancellation with no discussion the new way