Updated with one more nice thing about SAVE: It automates the annual renewal process so people won't see their IDR plans bounce out into regular, higher-cost monthly payments.
If it works. I'm with NelNet (or should I say, they stuck me with Nelnet after being with the Pennsylvania Higher Ed one, which was government run) and I applied for the SAVE program and apparently they didn't put me on it or calculated it wrong. If I'm only supposed to be paying 10% of disposable income/discretionary income, they think I have $8K a month in *disposable* income.
I don't know if I even have any recourse or if there's someone at the DOE to complain to when the private companies they farmed this out to jerk you around. I was doing just fine on the government program prior to them farming it out to these private loan companies like NelNet and others.
Yes, try to get away from Nelnet; they kept denying mine also. I applied for the PLFP and my loan was transferred to Mohela. Then I applied for SAVE and got full loan forgiveness.
I still don't understand why they didn't just keep the government-operated ones.
They claimed there were problems, but there seem to be even more problems with outfits like Nelnet. I never once had an issue with the PHEAA org that previously serviced my loans.
That's what unfettered lobbying by those with vested financial interests get you. "Why is the government in the business of managing loan repayments? That's not your core business, but it's exactly what we do! So of course we'd be better / more efficient / other bullshit than the government. And that frees up your department to focus on their core business.
Of course, that's hooey - just like in IT when outside consultants say "just outsource your IT department to us - no overhead and you can focus on your core competencies" ... which leads to exactly the same unhealthy and unsatisfying results as you are experiencing with your loans.
I am. I meet all of the requirements. I applied for the SAVE program via the us doe site. Nelnet sent me a letter saying my IBR plan was approved, and I owe OMG per month, which is way more than 10% of my discretionary income.
After reading horror stories about Nelnet, I think think are either jerking me around or didn't do something right.
How do you switch servicers? I just got *told* I am with Nelnet (after moving me from Pennsylvania Higher Ed one that was apparently a government run one. I'm not sure how sticking me with a third-party straight corporate rapacious loan servicer is in anyone's benefit over a government agency). Because I should also be in the PLFP, since I work for a state government agency.
THIS is how it's done by leader who learned a few things working in Congress and the Senate for about thirty years.
These ageist punks fail utterly and entirely to respect the fact that with age there is often an associated abundance of wisdom from which all may ultimately benefit.
Hey, Skepti, just wanted to say that you've been doing a great job knocking down/ kicking and pushing back against a lot of ignorant evil crap lately. Good work, woman, THANK YOU!
"Old? Good. If being old means knowing how to get things done, and see us through COVID and insurrections to get us to an economic boom and peace--then old is fine by me."
Jeepers! The nerve of that Biden guy, pandering to voters on an election year by making their lives better and giving them some hope. He aint' fooling anyone.
OHJB killed my student loan after I’d been trying to kill it for 40 years! Rest in pieces, motherfarker! Say hi for me to Satan when you get there, I used to date his meemaw!
My loan was paid off years ago and I am thrilled for the people who have been freed from the predatory lending that has been in place up until we got a President who cared about people, vote 💙 so we can see what this great man could do with a trifecta in Congress (instead of Putin puppets) please!
I got mine all forgiven months ago, and have a negative $7k balance on the books.
Brother got all his (bigger) balance forgiven, and got 2 refund checks over the last year or whatever, for a total of IDK, between $10 and $20k.
I might never get a refund, since we have plus loans for our kids, not sure if they'll just offset those loans or not. But anyway, this is all awesome.
I breaks my heart though, to think about how much we struggled 10 years ago, that extra $150 a month would have saved us tons of stress, fights, almost divorce a couple times (not really, but words were said and later taken back), all over money.
All that time, the rules for forgiveness were already in place, BUT THE LOAN FUCKERS IGNORED THEM. My 10 year ago self inside me is throwing things at the wall, screaming, marching down to the loan service department and making a. stink.
And we had it pretty easy, even at the worst of times. Racked up too much credit card debt, but at least had access to that.
I paid off my three student loans over the years and celebrated when they were paid off. But unlike some of the nay sayers, I have no problem with loan forgiveness. The magnitude of the borrowing needed now is much more than I had to deal with.
I paid off my three student loans over the years and celebrated when they were paid off. But unlike some of the nay sayers, I have no problem with loan forgiveness. The magnitude of the borrowing needed now is much more than I had to deal with.
One thing I'm very confused by is how they're calculating how long you've been making payments. I started accumulating student debt in the 90's. I consolidated my subsidized and unsubsidized loans in 2011, but I've obviously been "making payments" for far longer than that. I haven't had anything forgiven and last I checked, switching to SAVE actually *increased* my monthly payment, and they appear to be marking it from the date I consolidated, and not from when I took out the original loans. I'm single with no dependents but my income last year was less than $60k. It's going to be much lower next year as I'm only working part-time now, but as far as I can tell, they're going to base it on the last taxes.
Also, I took out more than $12k but my remaining debt is now just over $15k. So, what does that mean? I'm coming up on the 13 years, but am I not eligible for forgiveness since I started with more than $12K? It seems odd to base it on that, and not on what the remaining balance is. I mean, I know they're working with loopholes and work-arounds so there aren't going to be perfect solutions (thanks, SCROTUS!), but I have lots of questions.
The good news is, at least with Mohela they appear to have made the application process much simpler. I'm waiting for a response now but I'm not getting my hopes up.
Joe has been a guy with no functioning House of Representatives through his Administration. Given how well he’s managed to govern with a Congress limping on one leg and a judiciary stuffed with reactionary morons, imagine how far we would be on the road to a better America if he had a Congress to work with. Vote Blue 24!!
Biden had a functioning House in 2021 & 2022 when Pelosi was Speaker. But they’ve been completely dysfunctional since the GQP gained their razor-thin majority in 2023 after the midterms.
Updated with one more nice thing about SAVE: It automates the annual renewal process so people won't see their IDR plans bounce out into regular, higher-cost monthly payments.
If it works. I'm with NelNet (or should I say, they stuck me with Nelnet after being with the Pennsylvania Higher Ed one, which was government run) and I applied for the SAVE program and apparently they didn't put me on it or calculated it wrong. If I'm only supposed to be paying 10% of disposable income/discretionary income, they think I have $8K a month in *disposable* income.
I don't know if I even have any recourse or if there's someone at the DOE to complain to when the private companies they farmed this out to jerk you around. I was doing just fine on the government program prior to them farming it out to these private loan companies like NelNet and others.
Yes, try to get away from Nelnet; they kept denying mine also. I applied for the PLFP and my loan was transferred to Mohela. Then I applied for SAVE and got full loan forgiveness.
OK, thanks. I will do that.
How in the FUCK can they just unilaterally deny a government program when they are.....working for the fucking government?
Profit before All.
I still don't understand why they didn't just keep the government-operated ones.
They claimed there were problems, but there seem to be even more problems with outfits like Nelnet. I never once had an issue with the PHEAA org that previously serviced my loans.
That's what unfettered lobbying by those with vested financial interests get you. "Why is the government in the business of managing loan repayments? That's not your core business, but it's exactly what we do! So of course we'd be better / more efficient / other bullshit than the government. And that frees up your department to focus on their core business.
Of course, that's hooey - just like in IT when outside consultants say "just outsource your IT department to us - no overhead and you can focus on your core competencies" ... which leads to exactly the same unhealthy and unsatisfying results as you are experiencing with your loans.
There was so much bad information going out in the early parts of this program.
which was a feature not a bug
Thank you for that link!
I am. I meet all of the requirements. I applied for the SAVE program via the us doe site. Nelnet sent me a letter saying my IBR plan was approved, and I owe OMG per month, which is way more than 10% of my discretionary income.
After reading horror stories about Nelnet, I think think are either jerking me around or didn't do something right.
How do you switch servicers? I just got *told* I am with Nelnet (after moving me from Pennsylvania Higher Ed one that was apparently a government run one. I'm not sure how sticking me with a third-party straight corporate rapacious loan servicer is in anyone's benefit over a government agency). Because I should also be in the PLFP, since I work for a state government agency.
Do you have a D Congresscritter or Senator? Maybe their staff can help sort it out.
Jesus.
THIS is how it's done by leader who learned a few things working in Congress and the Senate for about thirty years.
These ageist punks fail utterly and entirely to respect the fact that with age there is often an associated abundance of wisdom from which all may ultimately benefit.
Hey, Skepti, just wanted to say that you've been doing a great job knocking down/ kicking and pushing back against a lot of ignorant evil crap lately. Good work, woman, THANK YOU!
But bIDen Is oLD!
Most of our presidents have been old. Maybe a lot of young people thought that Obama was normal, not an outlier.
"Old? Good. If being old means knowing how to get things done, and see us through COVID and insurrections to get us to an economic boom and peace--then old is fine by me."
When people tell me Biden is Old, I just reply, “Biden is experienced…and competent…and intelligent..and compassionate…should I go on?”
See, this is the quiet competence we like.
Jeepers! The nerve of that Biden guy, pandering to voters on an election year by making their lives better and giving them some hope. He aint' fooling anyone.
I didn't realise that I a needed a T-shirt with RoboCop Joe Biden wielding a flaming sword on it.
Thanks, Wonkette
OHJB killed my student loan after I’d been trying to kill it for 40 years! Rest in pieces, motherfarker! Say hi for me to Satan when you get there, I used to date his meemaw!
My loan was paid off years ago and I am thrilled for the people who have been freed from the predatory lending that has been in place up until we got a President who cared about people, vote 💙 so we can see what this great man could do with a trifecta in Congress (instead of Putin puppets) please!
I got mine all forgiven months ago, and have a negative $7k balance on the books.
Brother got all his (bigger) balance forgiven, and got 2 refund checks over the last year or whatever, for a total of IDK, between $10 and $20k.
I might never get a refund, since we have plus loans for our kids, not sure if they'll just offset those loans or not. But anyway, this is all awesome.
I breaks my heart though, to think about how much we struggled 10 years ago, that extra $150 a month would have saved us tons of stress, fights, almost divorce a couple times (not really, but words were said and later taken back), all over money.
All that time, the rules for forgiveness were already in place, BUT THE LOAN FUCKERS IGNORED THEM. My 10 year ago self inside me is throwing things at the wall, screaming, marching down to the loan service department and making a. stink.
And we had it pretty easy, even at the worst of times. Racked up too much credit card debt, but at least had access to that.
Fucking assholes.
I paid off my three student loans over the years and celebrated when they were paid off. But unlike some of the nay sayers, I have no problem with loan forgiveness. The magnitude of the borrowing needed now is much more than I had to deal with.
I paid off my three student loans over the years and celebrated when they were paid off. But unlike some of the nay sayers, I have no problem with loan forgiveness. The magnitude of the borrowing needed now is much more than I had to deal with.
One thing I'm very confused by is how they're calculating how long you've been making payments. I started accumulating student debt in the 90's. I consolidated my subsidized and unsubsidized loans in 2011, but I've obviously been "making payments" for far longer than that. I haven't had anything forgiven and last I checked, switching to SAVE actually *increased* my monthly payment, and they appear to be marking it from the date I consolidated, and not from when I took out the original loans. I'm single with no dependents but my income last year was less than $60k. It's going to be much lower next year as I'm only working part-time now, but as far as I can tell, they're going to base it on the last taxes.
Also, I took out more than $12k but my remaining debt is now just over $15k. So, what does that mean? I'm coming up on the 13 years, but am I not eligible for forgiveness since I started with more than $12K? It seems odd to base it on that, and not on what the remaining balance is. I mean, I know they're working with loopholes and work-arounds so there aren't going to be perfect solutions (thanks, SCROTUS!), but I have lots of questions.
The good news is, at least with Mohela they appear to have made the application process much simpler. I'm waiting for a response now but I'm not getting my hopes up.
Gosh, this may get those youngsters to consider registering to vote and vote for the old guy, not the crazy guy.
Really great work to try to get around the Republican suits and captive justices. I hope people are going to notice this amidst the bad-faith FUD.
show your thanks in November!
Hey, only Substack-paying people are allowed to comment on the following article? (That's what i've been warned anyhow, anyone else?)
No.
Some posts get that by accident, but it's not supposed to happen.
Joe has been a guy with no functioning House of Representatives through his Administration. Given how well he’s managed to govern with a Congress limping on one leg and a judiciary stuffed with reactionary morons, imagine how far we would be on the road to a better America if he had a Congress to work with. Vote Blue 24!!
Biden had a functioning House in 2021 & 2022 when Pelosi was Speaker. But they’ve been completely dysfunctional since the GQP gained their razor-thin majority in 2023 after the midterms.
So many people don't get this. We need to keep building.
hmmm...getting error messages...
What's this error message I keep getting on the new post?
Me too! And I just inquired about that here but don't see it yet.
I've gotten it twice, too.