"If left unchanged," the report says, "the program is set to provide huge financial windfalls to people who, far from being needy, are among the most financially well-off graduates in today's job market."

"We don't think this program is going to do what it was intended to do," Mr. Holt said. "This is a back-loaded benefit, and it's helping people who are most able to pay. The question we need to ask is whether this is how we want the government appropriating money."

"You've essentially created," Mr. Delisle said, "what is basically a risk-free proposition" for students wanting to take out huge loans to attend expensive graduate programs.

(http://www.autoadmit.com/thread.php?thread_id=2279947&forum_id=2#23381135)

(http://www.autoadmit.com/thread.php?thread_id=2279947&forum_id=2#23381156)

" The New American Foundation study found that under the new income-based repayment rules, high-income borrowers will not incur any incremental cost in borrowing an additional dollar after they reach $60,000 in loans even if they have a six-figure income over most of their repayment term."

(http://www.autoadmit.com/thread.php?thread_id=2279947&forum_id=2#23381255)

OBVIOUSLY though the system is broken and PAYE/IBR are fine but only IF the gov't can somehow cap tuition and otherwise stop the gravy train of student loan dollars to schools. Schools need to be held accountable for student outcomes.

(http://www.autoadmit.com/thread.php?thread_id=2279947&forum_id=2#23381337)

It can make sense for students to go to these programs, and it should, if the cost is in line with the market for such degrees. Of course the gov't got involved and fucked everything up and now every single grad degree in anything is like $40k a year

(http://www.autoadmit.com/thread.php?thread_id=2279947&forum_id=2#23381389)

*sharpens knife*

(http://www.autoadmit.com/thread.php?thread_id=2279947&forum_id=2#23415538)

The system is broken but it's not the students fault. They shuoldn't have to pay $300k for a law degree. The gov't fucked up the system and PAYE is the gov't's way of stopping the bleeding momentarily.

(http://www.autoadmit.com/thread.php?thread_id=2279947&forum_id=2#23381347)

The more significant factors that allow schools to continue increasing what they charge are the broken student loan system and bankruptcy laws. These are what really need to be reformed. The students in the aggregate are really left without a choice, and it shouldn't be a choice they have to make. Graduate school being unaffordable for all but the super rich is an extremely new phenomemon created by boomers to squeeze more money out of others

(http://www.autoadmit.com/thread.php?thread_id=2279947&forum_id=2#23415648)

Roll the dice on the taxpayer's dime bro. Privatized gains and socialized losses.

(http://www.autoadmit.com/thread.php?thread_id=2279947&forum_id=2#23381574)

step 2. kill off most fed backed loans, allow lenders to do risk assessment in giving loans (i.e. give loans to STEM bros, not critical theory bros).

....

= tuition will plummet to manageable levels again, bail out the generation that had to pay $50k/yr tuition

(http://www.autoadmit.com/thread.php?thread_id=2279947&forum_id=2#23381331)

70K is probably more likely to be the line for a TTT lawyer than any doctor.

(http://www.autoadmit.com/thread.php?thread_id=2279947&forum_id=2#23381495)

Whereas if there is no repayment difference if you take out $100K or $300K, there is something seriously wrong there.

(http://www.autoadmit.com/thread.php?thread_id=2279947&forum_id=2#23415721)

the sad thing is that over a 30 year period the IBR borrower will probably pay MORE toward his loans than you will pay on yours. and you fucking complain about it. what a joke.

(http://www.autoadmit.com/thread.php?thread_id=2279947&forum_id=2#23417450)

If he makes $70K and uses PAYE on $80K in loans, he might pay more than you would pay on $80K in loans at 2%.

The fact that he is paying the same amount for $80K or $300K is the problem. That would be a problem whether my interest rates are 2%, 6% or whether I pay all my loans tomorrow with cash.

(http://www.autoadmit.com/thread.php?thread_id=2279947&forum_id=2#23431302)

(1) All student loan debt is dischargeable in bankruptcy 5 to 7 years after first principal payment owed.

That's it.

Everything else will naturally follow after that.

(http://www.autoadmit.com/thread.php?thread_id=2279947&forum_id=2#23381432)

It's easy enough to use the first post-separation payment.

(http://www.autoadmit.com/thread.php?thread_id=2279947&forum_id=2#23415583)

Plus, you need to enroll in PAYE. Not many borrowers know about it. The DOE doesn't publicize it much nor do most schools.

(http://www.autoadmit.com/thread.php?thread_id=2279947&forum_id=2#23381626)

Question: if I go on PAYE, can the Govt change the terms down the line? That seems entirely unlikely, but boomers have to fund their retirement soon, so I can imagine them fucking over the youngs in a number of ways.

(http://www.autoadmit.com/thread.php?thread_id=2279947&forum_id=2#23418736)

you really think ARE generation is chill enough to use our power to help out Gen Z and Gen Aleph?

(http://www.autoadmit.com/thread.php?thread_id=2279947&forum_id=2#23422095)

I wonder what kind of backlash we'd see if IBR/PAYE/PSLF went away. I would be completely screwed.

(http://www.autoadmit.com/thread.php?thread_id=2279947&forum_id=2#23422243)

PSLF for people making close to 100K in government work is not the best incentive.

(http://www.autoadmit.com/thread.php?thread_id=2279947&forum_id=2#23422396)

so yes, high earners are paying more in monthly payments under IBR than they would under a standard 30 year plan.

But if you make that much, you don't need IBR anyway.

(http://www.autoadmit.com/thread.php?thread_id=2279947&forum_id=2#23422403)