Thread 512843823

https://www.newsweek.com/student-loan-update-warning-issued-over-trumps-new-plan-2112027
Under the new regulations, three other income-driven repayment (IDR) plans: Income-Contingent Repayment (CIR), Pay As You Earn (PAYE), and Saving on a Valuable Education (SAVE) are being phased out by 2028.
RAP also mandates a longer repayment period of 30 years before borrowers can qualify for student loan forgiveness, unlike older plans which allowed for this after 20 or 25 years.
"One stark difference is that it removes the 'income protection' that all prior plans have, which is meant to 'protect' a certain amount of a borrower's income so they can stay current on their loan payment while still having enough funds to cover their basic needs."

RAP also has a minimum required monthly payment amount, even if a borrower has no income at all. In contrast, ICR, IBR, PAYE, and SAVE have a safe harbor that allows for monthly payments of $0 if a borrower has little or no income.

>>512843823 (OP)
Just don't pay, simple as.

>>512845387
Wage garnishment. The lender gets a court order to force your employer to take money out of your paycheck to pay for your loan. The money is taken from you regardless of your choice not to pay.

>>512843823 (OP)
Murica is turning into an unhinged capitalist country, no sympathy for the poor fellows.

I'm on a PAYE plan right now but thankfully I should be able to knock out most of the rest of my loans in a few months.

>>512843823 (OP)

Lol if you were on any of these student loan plans and you voted for ZOGnald, congratulations. You played yourself.

>>512846192
Don't work, simple as. If you haven't figured out how to NEET by now you're a failure.