\
  The most prestigious law school admissions discussion board in the world.
BackRefresh Options Favorite

WSJ on the War Path to Kill PAYE/PSLF

Telling Students to Earn Less Obama now calls for reforming...
Costumed Electric Furnace
  04/24/14
*Rails against PAYE* *Exclusively Refers to PSLF Provisio...
Racy dilemma new version
  04/24/14
*2 digit IQ reptile*
Yellow factory reset button address
  04/27/14
They will cap all forgiveness (PSLF, PAYE, IBR) at around $5...
electric coldplay fan pit
  04/24/14
But that won't even cover my interest
topaz passionate national
  04/24/14
...
walnut prole cumskin
  11/18/14
lol at this boomer rag
Frozen Sooty Reading Party Kitchen
  04/24/14
Cot damn, just get rid of all this government loan shit and ...
light floppy stock car
  04/24/14
This. Don't care is Da'Mica can't get a loan to study anci...
elite circlehead business firm
  04/24/14
won't help u get a nonshitjob, you'll still be making 5 figu...
citrine swashbuckling library legend
  04/26/14
...
soggy lilac telephone
  04/26/14
that's muscular ginger btw. he makes 60k but sucks banker co...
citrine swashbuckling library legend
  04/26/14
...
citrine swashbuckling library legend
  04/26/14
...
citrine swashbuckling library legend
  04/27/14
Lol my salary is in the low 90s with 15% bonus HTH. Post a...
elite circlehead business firm
  11/18/14
Forgot to change Monkiers, lil Breh Date: November 18th...
Violent crackhouse
  11/18/14
Change monikers? I only have one account. You're fuckin...
elite circlehead business firm
  11/18/14
...
Violent crackhouse
  11/18/14
cr
ruddy excitant station
  04/24/14
tuitions have been rising faster than inflation independent ...
hairraiser stag film bbw
  11/18/14
...
Fighting dark digit ratio
  04/24/14
fuckfuckfuck
Snowy big-titted lay
  04/24/14
and god DAMNIT Law Center, you had to be greedy
Snowy big-titted lay
  04/24/14
...
Nofapping Hyperactive Meetinghouse Ratface
  04/24/14
...
walnut prole cumskin
  11/18/14
Nobody will ever get $100K+ forgiven ever.
electric coldplay fan pit
  04/24/14
i owe $275K fuckkkkkkkkkk
Snowy big-titted lay
  04/24/14
Not a chance they will be able to renege on current borrower...
ruddy excitant station
  04/24/14
you know about the tax bomb, right?
electric coldplay fan pit
  04/24/14
(2007 grad bitterly making monthly payments, grasping at str...
ruddy excitant station
  04/24/14
More like: (earl pumo)
talented skinny woman
  04/24/14
This is false. It's not necessarily likely, but certainly no...
honey-headed state death wish
  04/24/14
...
electric coldplay fan pit
  04/24/14
Wrong lil breh... The loan paperwork for most, if not all o...
Gay chapel
  04/24/14
IBR is a huge flip tho. 10/20 is far better than 15/25, to t...
Racy dilemma new version
  04/24/14
reminder: every single other civilized country in the world ...
Snowy big-titted lay
  04/24/14
CR, but still, if you're dumb enough to sign the loan papers...
electric coldplay fan pit
  04/24/14
Goddamn jews, amirite?
geriatric dashing hospital depressive
  04/24/14
I thought the UK and Australia were pushing to follow our sh...
chest-beating black background story
  11/18/14
hopefully they end it
magical smoky tanning salon
  04/24/14
they have to grandfather in existing people though, right? i...
Snowy big-titted lay
  04/24/14
No, it would be grotesquely unfair to give some $200-300K+ f...
electric coldplay fan pit
  04/24/14
(guy who doesn't understand the concept of grandfathering)
Nofapping Hyperactive Meetinghouse Ratface
  04/24/14
Even under the current rules, you were never guaranteed full...
electric coldplay fan pit
  04/24/14
No one's disputing that. What's your point?
Nofapping Hyperactive Meetinghouse Ratface
  04/24/14
Hurts any argument that borrowers would be harmed by capping...
electric coldplay fan pit
  04/24/14
im not a lawyer bro. i like to make money so i dont worry ab...
magical smoky tanning salon
  04/24/14
What would breach of PAYE damages even be.
Racy dilemma new version
  04/24/14
Well you would've just paid off the debt if not for PAYE rel...
electric coldplay fan pit
  04/24/14
WSJ is right on. PAYE is terrible policy. And I say this as ...
ruddy excitant station
  04/24/14
of course they're right, but it would be massively unfair if...
Snowy big-titted lay
  04/24/14
Won't happen. Bump this in 2030.
ruddy excitant station
  04/24/14
It would be massively unfair if they just forgave the loans ...
walnut prole cumskin
  04/24/14
This won't happen. Nothing is ever getting forgiven past $5...
electric coldplay fan pit
  04/24/14
...
Nofapping Hyperactive Meetinghouse Ratface
  04/24/14
it is a windfall for students and universities
buff garrison
  04/24/14
*was
electric coldplay fan pit
  04/24/14
*gets a worthless JD all for the low, low price of 20 years ...
Nofapping Hyperactive Meetinghouse Ratface
  04/24/14
a jd is not worthless a person with a jd may be worthless
buff garrison
  04/27/14
180
citrine swashbuckling library legend
  04/27/14
PAYE should be eliminated
Orchid flickering love of her life trailer park
  04/24/14
(Moronic reptile)
slap-happy self-centered ticket booth
  11/18/14
It is HIGHLY unlikely this will be made retroactively. I say...
Charismatic bossy corn cake sex offender
  04/24/14
Do you understand how legislation works? Congress can change...
Orchid flickering love of her life trailer park
  04/24/14
Actually, no.
ruddy excitant station
  04/24/14
no. Governments may act in their sovereign capacity but also...
cordovan big theater stage
  04/24/14
I see nothing in the constitution that prevents congress fro...
Orchid flickering love of her life trailer park
  04/24/14
in practice, here's what happens - congress changes law. no...
hairless whorehouse athletic conference
  04/24/14
Made me laugh and cry at same time.
honey-headed state death wish
  04/24/14
But governments aren't people!!
ruddy excitant station
  04/27/14
cr.
ruddy excitant station
  04/24/14
PLUS promissory notes reference neither PAYE nor PSLF. IBR a...
Racy dilemma new version
  04/24/14
...
electric coldplay fan pit
  04/24/14
so, if we're on IBR, we're good?
Snowy big-titted lay
  04/24/14
I'm not on PAYE so I'm not sure, but some MFE in another thr...
Racy dilemma new version
  04/24/14
you sign an application to get on PAYE. it looks like this: ...
Snowy big-titted lay
  04/24/14
I'm not sure but I imagine so - or probably, you get another...
Racy dilemma new version
  04/24/14
I don't think they'll apply it retroactively either but ther...
cordovan big theater stage
  04/24/14
LOL, all are resources are required to provide for are shitb...
wonderful school cafeteria
  04/24/14
"tbf, all government involvement in student loans is a ...
Ivory Goal In Life
  04/24/14
go on...
wonderful school cafeteria
  04/24/14
...
exhilarant locus
  04/26/14
Holy shit did they actually link income inequality with youn...
salmon french codepig
  04/24/14
...
Snowy big-titted lay
  04/24/14
...
honey-headed state death wish
  04/24/14
Are they *seriously* arguing that it's BAD to have PAYE and ...
honey-headed state death wish
  04/24/14
Yes, that was a bad point to focus on. But if they can get ...
clear half-breed
  04/24/14
Right but that's ****not*** the conservative boomer argument...
honey-headed state death wish
  04/24/14
Think there's a chance that if there were underwriting re ac...
clear half-breed
  04/24/14
Why incentivize people to work in govt with forgiveness prog...
elite circlehead business firm
  04/24/14
the best candidates tend to go private so there's a lack of ...
sinister vibrant stage
  04/26/14
bull fucking shit
buff garrison
  04/27/14
WSJ shitwriter with a B.A. in journalism in 1991 from state ...
glittery anal psychic
  04/24/14
link
honey-headed state death wish
  04/24/14
...
Costumed Electric Furnace
  04/24/14
LOL. Greedy Boomer-Jew university administrators have pwnd ...
Marvelous stubborn voyeur faggot firefighter
  04/24/14
I'd like to subscribe to your newsletter.
drab orchestra pit
  04/24/14
explain your moniker to me
Marvelous stubborn voyeur faggot firefighter
  04/24/14
...
soggy lilac telephone
  04/26/14
this is the end result of Boomerism: an article and 15 pages...
exhilarant locus
  04/26/14
...
citrine swashbuckling library legend
  04/26/14
...
Snowy big-titted lay
  04/27/14
...
Apoplectic Heaven
  04/27/14
...
walnut prole cumskin
  11/18/14
Conturds will not be happy until we can re-institute slavery...
sick boistinker
  04/27/14
No, but reptiles would be perfectly happy to destroy the cur...
odious preventive strike haunted graveyard
  04/27/14
they want to destroy higher education so that they can prote...
sick boistinker
  04/27/14
LOL, link?
citrine swashbuckling library legend
  04/27/14
lol are you still out of the country breh?
topaz passionate national
  04/27/14
sorta faggot
sick boistinker
  04/27/14
how's los angeles?
topaz passionate national
  04/27/14
How uranus?
sick boistinker
  04/27/14
...
Cerebral private investor university
  05/13/14
mo money fo dem programs (xo poas
Marvelous stubborn voyeur faggot firefighter
  11/18/14
"most loans are issued regardless of a borrower's abili...
chest-beating black background story
  11/18/14


Poast new message in this thread



Reply Favorite

Date: April 24th, 2014 1:28 PM
Author: Costumed Electric Furnace

Telling Students to Earn Less

Obama now calls for reforming his bleeding college loan program.

The federal student loan program is becoming so costly to taxpayers that even President Obama is pretending to fix it. Readers will recall Mr. Obama as the man who has spent much of his Presidency expanding this program, creating new ways for borrowers to avoid repayment, and then campaigning about these dubious achievements on campuses nationwide.

Now Team Obama is acknowledging that his policies are turning out to be more expensive than he claimed. Participation in federal debt-forgiveness programs is surging. In a mere six months the number of borrowers who've signed up for such plans has increased to more than 1.3 million from less than a million, with total balances rising to $72 billion from $52 billion. Maybe the White House didn't understand that when you give people an economic incentive not to repay a loan, more people won't repay.

Taxpayers can suffer in many ways from federal education lending, because most loans are issued regardless of a borrower's ability to repay. So loose is this form of credit that in the slow-growth Obama economy it has become a vehicle to fund basic living expenses, with tens of thousands of borrowers consuming aid even when they're not enrolled for courses.

But the immediate taxpayer S.O.S. concerns Mr. Obama's Pay As You Earn program. We've warned for years about the risks of this program as Mr. Obama has worked to expand the number of eligible borrowers and sweeten its terms.

Pay As You Earn allows students under certain circumstances to borrow an unlimited amount and then cap monthly payments at 10% of their discretionary income. If they choose productive work in the private economy, the loans are forgiven after 20 years. But if they choose to work in government or for a nonprofit, Uncle Sugar forgives their loans after 10 years.

For aspiring community organizers who go to college and then grad school before moving into a job that the government defines as public service, the forgiven debt can be $150,000 or more, courtesy of the taxpayer. And unlike with some other federal programs, when the government forgives the debt of one of the exalted class of nonprofit or government workers, the do-gooder doesn't have to report it as income to the IRS. Who wouldn't want to pick up $150,000 tax-free?

Energized by Mr. Obama's 2011 expansion, Pay As You Earn has been a slow-motion bailout for law schools, which saw diminishing applications in the wake of the financial crisis. Now the money is still rolling in thanks to more leveraged students. Upon graduation the median law school grad in 2012 was carrying more than $128,000 in grad-school debt, up from $77,000 in 2004.

But how much of it will ever be repaid? At least one creative school, Georgetown, last year offered to pay the students' monthly bills under the Pay As You Earn program while simultaneously raising tuitions. This essentially makes taxpayers pay the entire cost and turns the loans into six-figure grants.

The White House is finally admitting there's a problem, albeit sotto voce. The President's 2015 budget proposes to "reform the [Pay As You Earn] terms to ensure that the program is well-targeted and provides a safeguard against rising tuition at high-cost institutions." But it seems the White House is more concerned with the appearances of this taxpayer fleecing than the reality. Later in the budget tables the White House notes that its plan to "expand and reform student loan income-based repayment" will cost taxpayers even more than the status quo—by more than $3.5 billion over 10 years.

As for the status quo, Jason Delisle of the New America Foundation has been tracking the expanding red ink. He notes that in 2010 when the President first sketched out the idea for Pay As You Earn, the cost of permitting past borrowers to use the program's "more generous terms was approximately $1.7 billion. The administration reported the cost for the same proposal in 2013 as approximately $3.5 billion. In 2014 it quoted the cost at approximately $7.6 billion." Look for the estimates to keep rising—especially after this fall's election.

This might seem like a windfall for the students, but the only clear winners are the universities that are the ultimate recipients of the taxpayer money. While the students may technically get the freebie, the impressionable youngsters, who likely have little or no wealth, are being given an enormous financial incentive to pursue careers in government or at low-paying nonprofits.

The consequences for our economy are no less tragic than for the individual borrowers. They are being driven away from the path down which their natural ambition and talent might have taken them. President Obama keeps talking about reducing income equality. So why does he keep paying young people not to pursue higher incomes?

http://online.wsj.com/news/articles/SB10001424052702304279904579517934206301354#printMode

(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25438723)



Reply Favorite

Date: April 24th, 2014 1:30 PM
Author: Racy dilemma new version

*Rails against PAYE*

*Exclusively Refers to PSLF Provisions*

(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25438732)



Reply Favorite

Date: April 27th, 2014 8:30 PM
Author: Yellow factory reset button address

*2 digit IQ reptile*

(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25460208)



Reply Favorite

Date: April 24th, 2014 1:32 PM
Author: electric coldplay fan pit

They will cap all forgiveness (PSLF, PAYE, IBR) at around $50K eventually. Make it retroactive.

(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25438741)



Reply Favorite

Date: April 24th, 2014 3:04 PM
Author: topaz passionate national

But that won't even cover my interest

(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25439354)



Reply Favorite

Date: November 18th, 2014 1:54 PM
Author: walnut prole cumskin



(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#26744067)



Reply Favorite

Date: April 24th, 2014 1:43 PM
Author: Frozen Sooty Reading Party Kitchen

lol at this boomer rag

(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25438788)



Reply Favorite

Date: April 24th, 2014 1:44 PM
Author: light floppy stock car

Cot damn, just get rid of all this government loan shit and tuitions will fall.

(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25438793)



Reply Favorite

Date: April 24th, 2014 1:49 PM
Author: elite circlehead business firm

This. Don't care is Da'Mica can't get a loan to study ancient African belly dancin.

(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25438824)



Reply Favorite

Date: April 26th, 2014 3:17 PM
Author: citrine swashbuckling library legend

won't help u get a nonshitjob, you'll still be making 5 figures lil breh

(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25452149)



Reply Favorite

Date: April 26th, 2014 3:19 PM
Author: soggy lilac telephone



(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25452163)



Reply Favorite

Date: April 26th, 2014 3:23 PM
Author: citrine swashbuckling library legend

that's muscular ginger btw. he makes 60k but sucks banker cock and thinks that 'shaniqua' is the reason for his shitlife, LOL

(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25452186)



Reply Favorite

Date: April 26th, 2014 6:48 PM
Author: citrine swashbuckling library legend



(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25453442)



Reply Favorite

Date: April 27th, 2014 5:25 PM
Author: citrine swashbuckling library legend



(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25458884)



Reply Favorite

Date: November 18th, 2014 2:09 PM
Author: elite circlehead business firm

Lol my salary is in the low 90s with 15% bonus HTH. Post a screenshot of you public defender wage and I'll post mine you little fag ljl.

(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#26744145)



Reply Favorite

Date: November 18th, 2014 2:11 PM
Author: Violent crackhouse

Forgot to change Monkiers, lil Breh

Date: November 18th, 2014 2:09 PM

Author: \"\'\'\"\"\'\'\'\'\'\'\'\'

Lol my salary is in the low 90s with 15% bonus HTH. Post a screenshot of you public defender wage and I'll post mine you little fag ljl.

(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#26744159)



Reply Favorite

Date: November 18th, 2014 2:13 PM
Author: elite circlehead business firm

Change monikers? I only have one account. You're fucking retarded, the monikers are the same. Lol at your low chimp IQ. Not sure what you're trying to prove pasting my poast. Where's your PD salary lil buddy?

(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#26744164)



Reply Favorite

Date: November 18th, 2014 2:11 PM
Author: Violent crackhouse



(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#26744156)



Reply Favorite

Date: April 24th, 2014 2:09 PM
Author: ruddy excitant station

cr

(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25438946)



Reply Favorite

Date: November 18th, 2014 2:15 PM
Author: hairraiser stag film bbw

tuitions have been rising faster than inflation independent of government loan policies for decades

(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#26744175)



Reply Favorite

Date: April 24th, 2014 1:47 PM
Author: Fighting dark digit ratio



(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25438808)



Reply Favorite

Date: April 24th, 2014 1:50 PM
Author: Snowy big-titted lay

fuckfuckfuck

(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25438827)



Reply Favorite

Date: April 24th, 2014 1:50 PM
Author: Snowy big-titted lay

and god DAMNIT Law Center, you had to be greedy

(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25438830)



Reply Favorite

Date: April 24th, 2014 2:22 PM
Author: Nofapping Hyperactive Meetinghouse Ratface



(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25439042)



Reply Favorite

Date: November 18th, 2014 1:53 PM
Author: walnut prole cumskin



(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#26744060)



Reply Favorite

Date: April 24th, 2014 1:50 PM
Author: electric coldplay fan pit

Nobody will ever get $100K+ forgiven ever.

(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25438835)



Reply Favorite

Date: April 24th, 2014 1:51 PM
Author: Snowy big-titted lay

i owe $275K fuckkkkkkkkkk

(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25438843)



Reply Favorite

Date: April 24th, 2014 2:10 PM
Author: ruddy excitant station

Not a chance they will be able to renege on current borrowers. Zero chance.

(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25438950)



Reply Favorite

Date: April 24th, 2014 2:17 PM
Author: electric coldplay fan pit

you know about the tax bomb, right?

(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25438995)



Reply Favorite

Date: April 24th, 2014 2:21 PM
Author: ruddy excitant station

(2007 grad bitterly making monthly payments, grasping at straws)

(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25439033)



Reply Favorite

Date: April 24th, 2014 3:11 PM
Author: talented skinny woman

More like: (earl pumo)

(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25439390)



Reply Favorite

Date: April 24th, 2014 3:50 PM
Author: honey-headed state death wish

This is false. It's not necessarily likely, but certainly not UNLIKELY that they will retroactively apply changes. The law is unclear.

Regardless, the tax bomb is going to fuck everyone. What the fuck are you smoking?

(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25439598)



Reply Favorite

Date: April 24th, 2014 3:52 PM
Author: electric coldplay fan pit



(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25439607)



Reply Favorite

Date: April 24th, 2014 4:10 PM
Author: Gay chapel

Wrong lil breh... The loan paperwork for most, if not all of us, specifically mentions IBR and its terms as a repayment method. While gov't could retroactively take away PAYE from those of us who didn't have it referenced in their loan paperwork, they can't take away IBR.

Because the repayment plan was explicitly mentioned as part of the terms of the loan the government can't unilaterally remove or change the repayment provisions(terms of the loan). Basic contract law.

(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25439737)



Reply Favorite

Date: April 24th, 2014 4:12 PM
Author: Racy dilemma new version

IBR is a huge flip tho. 10/20 is far better than 15/25, to the point where all lawyers will just do 10 year

(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25439747)



Reply Favorite

Date: April 24th, 2014 1:51 PM
Author: Snowy big-titted lay

reminder: every single other civilized country in the world has subsidized, reasonable tuition rates between $2K and $10K per year.

ONLY IN AMERICA

(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25438837)



Reply Favorite

Date: April 24th, 2014 1:52 PM
Author: electric coldplay fan pit

CR, but still, if you're dumb enough to sign the loan papers..

(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25438851)



Reply Favorite

Date: April 24th, 2014 2:26 PM
Author: geriatric dashing hospital depressive

Goddamn jews, amirite?

(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25439068)



Reply Favorite

Date: November 18th, 2014 1:56 PM
Author: chest-beating black background story

I thought the UK and Australia were pushing to follow our shit ways.

(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#26744090)



Reply Favorite

Date: April 24th, 2014 1:52 PM
Author: magical smoky tanning salon

hopefully they end it

(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25438848)



Reply Favorite

Date: April 24th, 2014 1:53 PM
Author: Snowy big-titted lay

they have to grandfather in existing people though, right? i signed papers. i've made years worth of payments already counting on that forgiveness.

(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25438856)



Reply Favorite

Date: April 24th, 2014 1:54 PM
Author: electric coldplay fan pit

No, it would be grotesquely unfair to give some $200-300K+ forgiveness while capping everybody else at $50K.

(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25438869)



Reply Favorite

Date: April 24th, 2014 2:23 PM
Author: Nofapping Hyperactive Meetinghouse Ratface

(guy who doesn't understand the concept of grandfathering)

(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25439047)



Reply Favorite

Date: April 24th, 2014 2:26 PM
Author: electric coldplay fan pit

Even under the current rules, you were never guaranteed full forgiveness. The Tax Bomb is going to be like 35-40%.

(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25439070)



Reply Favorite

Date: April 24th, 2014 3:08 PM
Author: Nofapping Hyperactive Meetinghouse Ratface

No one's disputing that. What's your point?

(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25439377)



Reply Favorite

Date: April 24th, 2014 3:12 PM
Author: electric coldplay fan pit

Hurts any argument that borrowers would be harmed by capping PAYE forgiveness, assuming the tax bomb is also removed. Perhaps the difference between the Tax Bomb any debt above the cap?

(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25439395)



Reply Favorite

Date: April 24th, 2014 1:55 PM
Author: magical smoky tanning salon

im not a lawyer bro. i like to make money so i dont worry about this type of stuff

(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25438870)



Reply Favorite

Date: April 24th, 2014 2:02 PM
Author: Racy dilemma new version

What would breach of PAYE damages even be.

(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25438904)



Reply Favorite

Date: April 24th, 2014 2:06 PM
Author: electric coldplay fan pit

Well you would've just paid off the debt if not for PAYE reliance, amiright?

(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25438923)



Reply Favorite

Date: April 24th, 2014 2:08 PM
Author: ruddy excitant station

WSJ is right on. PAYE is terrible policy. And I say this as someone on PAYE who fully intends to pay back almost nothing on student loans.

Here is where WSJ wins points:

"This might seem like a windfall for the students, but the only clear winners are the universities that are the ultimate recipients of the taxpayer money. "

Absolutely cr.

(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25438940)



Reply Favorite

Date: April 24th, 2014 2:11 PM
Author: Snowy big-titted lay

of course they're right, but it would be massively unfair if they fucked existing borrowers.

(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25438955)



Reply Favorite

Date: April 24th, 2014 2:11 PM
Author: ruddy excitant station

Won't happen. Bump this in 2030.

(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25438962)



Reply Favorite

Date: April 24th, 2014 2:24 PM
Author: walnut prole cumskin

It would be massively unfair if they just forgave the loans of 2012-2015 and screwed everyone else.

(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25439054)



Reply Favorite

Date: April 24th, 2014 2:27 PM
Author: electric coldplay fan pit

This won't happen. Nothing is ever getting forgiven past $57K.

(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25439073)



Reply Favorite

Date: April 24th, 2014 2:24 PM
Author: Nofapping Hyperactive Meetinghouse Ratface



(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25439052)



Reply Favorite

Date: April 24th, 2014 2:36 PM
Author: buff garrison

it is a windfall for students

and universities

(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25439153)



Reply Favorite

Date: April 24th, 2014 2:36 PM
Author: electric coldplay fan pit

*was

(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25439154)



Reply Favorite

Date: April 24th, 2014 4:23 PM
Author: Nofapping Hyperactive Meetinghouse Ratface

*gets a worthless JD all for the low, low price of 20 years of massive interest payments, a completely fucked credit score and a $100k tax bomb at the end of year 20*

O WHAT A WINDFALL!

(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25439844)



Reply Favorite

Date: April 27th, 2014 6:26 PM
Author: buff garrison

a jd is not worthless

a person with a jd may be worthless

(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25459304)



Reply Favorite

Date: April 27th, 2014 10:05 PM
Author: citrine swashbuckling library legend

180

(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25460940)



Reply Favorite

Date: April 24th, 2014 2:27 PM
Author: Orchid flickering love of her life trailer park

PAYE should be eliminated

(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25439077)



Reply Favorite

Date: November 18th, 2014 3:10 PM
Author: slap-happy self-centered ticket booth

(Moronic reptile)

(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#26744417)



Reply Favorite

Date: April 24th, 2014 2:29 PM
Author: Charismatic bossy corn cake sex offender

It is HIGHLY unlikely this will be made retroactively. I say this as someone who writes on the subject and regularly interviews the DOE, student loan experts, and lenders. The promissory notes, alone, will grandfather in anyone on the existing plans. The terms of the loans/promissory notes cannot be suddenly changed without being given warning prior to signing the document (just as potential credit card rate increases/changed terms must be disclosed prior to signing or borrowing).



(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25439091)



Reply Favorite

Date: April 24th, 2014 2:30 PM
Author: Orchid flickering love of her life trailer park

Do you understand how legislation works? Congress can change the terms of any contracts it wants.

(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25439100)



Reply Favorite

Date: April 24th, 2014 2:30 PM
Author: ruddy excitant station

Actually, no.

(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25439109)



Reply Favorite

Date: April 24th, 2014 2:42 PM
Author: cordovan big theater stage

no. Governments may act in their sovereign capacity but also as contracting entities. In its sovereign capacity it has far more leeway to make legislation apply retroactively (though there are constitutional limits here as well). When they are a party to a contract, however, they cannot alter already agreed upon contractual terms by legislation because they are like any other person that makes a contractual promise.

(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25439204)



Reply Favorite

Date: April 24th, 2014 2:44 PM
Author: Orchid flickering love of her life trailer park

I see nothing in the constitution that prevents congress from passing laws that impact contracts it is a party to. I don't know if there is an caselaw on this though.

seems implausible that they "can't" do this

(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25439215)



Reply Favorite

Date: April 24th, 2014 3:06 PM
Author: hairless whorehouse athletic conference

in practice, here's what happens - congress changes law. no retroactivity. students freak out; file a lawsuit in federal court on takings grounds and whatever else applies. it proceeds through the various levels for a while until it hits the supremes, at which point a 5-4 split decides to fuck the millennials and make them eat shit.

(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25439366)



Reply Favorite

Date: April 24th, 2014 3:52 PM
Author: honey-headed state death wish

Made me laugh and cry at same time.

(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25439610)



Reply Favorite

Date: April 27th, 2014 9:57 PM
Author: ruddy excitant station

But governments aren't people!!

(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25460860)



Reply Favorite

Date: April 24th, 2014 2:30 PM
Author: ruddy excitant station

cr.

(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25439106)



Reply Favorite

Date: April 24th, 2014 2:31 PM
Author: Racy dilemma new version

PLUS promissory notes reference neither PAYE nor PSLF. IBR and ICR, yes.

(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25439120)



Reply Favorite

Date: April 24th, 2014 2:33 PM
Author: electric coldplay fan pit



(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25439133)



Reply Favorite

Date: April 24th, 2014 2:45 PM
Author: Snowy big-titted lay

so, if we're on IBR, we're good?

(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25439227)



Reply Favorite

Date: April 24th, 2014 2:47 PM
Author: Racy dilemma new version

I'm not on PAYE so I'm not sure, but some MFE in another thread was saying that you sign a separate contract outlining your repayments under PAYE, which is the contract you would enforce, not the MPN.

(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25439249)



Reply Favorite

Date: April 24th, 2014 2:54 PM
Author: Snowy big-titted lay

you sign an application to get on PAYE. it looks like this:

http://www.asa.org/pdfs/federal/ibr_paye_icr-repayment-plan-request.pdf

is that a contract you can enforce?

and then this is what you submit each year to certify your employment if doing PSLF:

http://studentaid.ed.gov/sites/default/files/public-service-employment-certification-form.pdf

(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25439295)



Reply Favorite

Date: April 24th, 2014 3:05 PM
Author: Racy dilemma new version

I'm not sure but I imagine so - or probably, you get another form that is like "This is what you have selected, XXX to complete" and that is what the agreement would be, or something of that nature.

What people can't do is graduate in 2015 and try to cope PAYE if it's already been changed, even if they relied on it on their decision to attend LS.

(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25439359)



Reply Favorite

Date: April 24th, 2014 2:44 PM
Author: cordovan big theater stage

I don't think they'll apply it retroactively either but there could be terms in those notes that permit the government to end certain subsidized repayment plans without penalty.

(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25439221)



Reply Favorite

Date: April 24th, 2014 2:45 PM
Author: wonderful school cafeteria

LOL, all are resources are required to provide for are shitboomer overlords. the idea that this program would ever provide for youngs the kind of bullshit graft that shitboomers provided for themselves was always laughable.

tbf, all government involvement in student loans is a fucking terrible idea.

(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25439230)



Reply Favorite

Date: April 24th, 2014 2:49 PM
Author: Ivory Goal In Life

"tbf, all government involvement in student loans is a fucking terrible idea."



(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25439259)



Reply Favorite

Date: April 24th, 2014 3:03 PM
Author: wonderful school cafeteria

go on...

(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25439349)



Reply Favorite

Date: April 26th, 2014 4:22 PM
Author: exhilarant locus



(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25452571)



Reply Favorite

Date: April 24th, 2014 3:25 PM
Author: salmon french codepig

Holy shit did they actually link income inequality with young people choosing public service jobs

I want to bludgeon the entire WSJ editorial board with a sack of nails

(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25439469)



Reply Favorite

Date: April 24th, 2014 3:26 PM
Author: Snowy big-titted lay



(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25439477)



Reply Favorite

Date: April 24th, 2014 3:49 PM
Author: honey-headed state death wish



(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25439592)



Reply Favorite

Date: April 24th, 2014 3:47 PM
Author: honey-headed state death wish

Are they *seriously* arguing that it's BAD to have PAYE and incentive programs to get people to work in government and the public interest? The overwhelming majority of students want to work in private sector, high-income jobs. The government is not unpopular per se, but cannot be compared to the interest in private sector work, and public interest? Are you serious? We can't get people to work for most of those organizations because they pay so little.

What a dismissive and unintelligent editorial. These guys do the bidding work of corporations and that's it.

(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25439583)



Reply Favorite

Date: April 24th, 2014 4:18 PM
Author: clear half-breed

Yes, that was a bad point to focus on. But if they can get people to see how this shit inflates tuition and primarily benefits university staff, I'll take it.

(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25439788)



Reply Favorite

Date: April 24th, 2014 4:20 PM
Author: honey-headed state death wish

Right but that's ****not*** the conservative boomer argument. They do make the point, it is true, that universities use these incentives to jack up tuition. Granted. 100%. But you can't then also add another premise to the argument ... "oh and fuck these students, too" without it becoming a serious problem.

There is no practical solution to get the government out of the loans business. The only thing that happens is that the students with loans lose programs to help them. Maybe tuition stays flat for a while, but ultimately as long as boomers run higher ed and politics, it will never be affordable. The people who suffer: students and youngs.

(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25439810)



Reply Favorite

Date: April 24th, 2014 5:51 PM
Author: clear half-breed

Think there's a chance that if there were underwriting re academic ability/likelihood to advance students earning power, subsidized loans could help without jacking tuition, ie without financing bullshit degrees for morons?



(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25440368)



Reply Favorite

Date: April 24th, 2014 5:54 PM
Author: elite circlehead business firm

Why incentivize people to work in govt with forgiveness programs? Is there a lack of candidates for govt jobs?

(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25440394)



Reply Favorite

Date: April 26th, 2014 3:14 PM
Author: sinister vibrant stage

the best candidates tend to go private so there's a lack of high quality candidates

(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25452125)



Reply Favorite

Date: April 27th, 2014 6:27 PM
Author: buff garrison

bull fucking shit

(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25459317)



Reply Favorite

Date: April 24th, 2014 4:17 PM
Author: glittery anal psychic

WSJ shitwriter with a B.A. in journalism in 1991 from state school who never had over $50k student debt doing his part to ruin the lives of anyone caught in the web of $250 tuition at 8.5%

fuck this shit joke country

(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25439786)



Reply Favorite

Date: April 24th, 2014 4:18 PM
Author: honey-headed state death wish

link



(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25439791)



Reply Favorite

Date: April 24th, 2014 6:05 PM
Author: Costumed Electric Furnace



(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25440451)



Reply Favorite

Date: April 24th, 2014 6:07 PM
Author: Marvelous stubborn voyeur faggot firefighter

LOL. Greedy Boomer-Jew university administrators have pwnd our generation in so many ways. They tricked us into taking out six figures of debt and instilled the omnipresent "THAT'S SO UNFAIR!!!" ethos in us such that any attempt to diminish the promised benefits of PAYE will be fought against by Millennials dependent on the government teet for survival. Meanwhile, the greedy Boomer-Jew university administrators are laughing all the way to the bank as they draw up plans for new gold-plated toilets in the faculty lounges.

(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25440461)



Reply Favorite

Date: April 24th, 2014 8:15 PM
Author: drab orchestra pit

I'd like to subscribe to your newsletter.

(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25441131)



Reply Favorite

Date: April 24th, 2014 8:17 PM
Author: Marvelous stubborn voyeur faggot firefighter

explain your moniker to me

(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25441145)



Reply Favorite

Date: April 26th, 2014 3:26 PM
Author: soggy lilac telephone



(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25452209)



Reply Favorite

Date: April 26th, 2014 3:33 PM
Author: exhilarant locus

this is the end result of Boomerism: an article and 15 pages of comments screaming about the "entitlement" that "these students are getting for free from that socialist Obama" with no comprehension whatsoever that their college experiences were had more or less for free, especially for those who went to state schools set up exactly to be entitlements.

"Wahhhh, these asshole lazy Millennials are getting the same thing after 20 years of wage slavery that we got for nothing! End entitlement spending! How else are you going to pay our Social Security and Medicare that we kept underfunded through voting out any tax increase?!?!"

Kill Boomers.

(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25452247)



Reply Favorite

Date: April 26th, 2014 6:48 PM
Author: citrine swashbuckling library legend



(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25453447)



Reply Favorite

Date: April 27th, 2014 6:25 PM
Author: Snowy big-titted lay



(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25459294)



Reply Favorite

Date: April 27th, 2014 7:42 PM
Author: Apoplectic Heaven



(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25459882)



Reply Favorite

Date: November 18th, 2014 1:50 PM
Author: walnut prole cumskin



(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#26744038)



Reply Favorite

Date: April 27th, 2014 8:43 PM
Author: sick boistinker

Conturds will not be happy until we can re-institute slavery. all these arguments against shit like PAYE or minimum wage are just a backdoor effort to re-slave us all

(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25460295)



Reply Favorite

Date: April 27th, 2014 8:56 PM
Author: odious preventive strike haunted graveyard

No, but reptiles would be perfectly happy to destroy the current paradigm concerning higher education. I don't blame them, and in fact, hope they succeed.

(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25460402)



Reply Favorite

Date: April 27th, 2014 8:59 PM
Author: sick boistinker

they want to destroy higher education so that they can protect the rich even more u dumb faggot.. they want everyone to be lemmings so only the mega rich can become educated

(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25460429)



Reply Favorite

Date: April 27th, 2014 10:05 PM
Author: citrine swashbuckling library legend

LOL, link?

(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25460949)



Reply Favorite

Date: April 27th, 2014 8:57 PM
Author: topaz passionate national

lol

are you still out of the country breh?

(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25460415)



Reply Favorite

Date: April 27th, 2014 8:59 PM
Author: sick boistinker

sorta faggot

(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25460432)



Reply Favorite

Date: April 27th, 2014 9:02 PM
Author: topaz passionate national

how's los angeles?

(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25460456)



Reply Favorite

Date: April 27th, 2014 9:03 PM
Author: sick boistinker

How uranus?

(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25460468)



Reply Favorite

Date: May 13th, 2014 9:22 PM
Author: Cerebral private investor university



(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#25556369)



Reply Favorite

Date: November 18th, 2014 1:54 PM
Author: Marvelous stubborn voyeur faggot firefighter

mo money fo dem programs (xo poas

(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#26744071)



Reply Favorite

Date: November 18th, 2014 1:55 PM
Author: chest-beating black background story

"most loans are issued regardless of a borrower's ability to repay."

Bankruptcy is a good fix for that.

It gets incentives aligned right quick.

(http://www.autoadmit.com/thread.php?thread_id=2550748&forum_id=2#26744076)