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WSJ on the War Path to Kill PAYE/PSLF

Telling Students to Earn Less Obama now calls for reforming...
Supple box office
  04/24/14
*Rails against PAYE* *Exclusively Refers to PSLF Provisio...
Rambunctious beady-eyed location
  04/24/14
*2 digit IQ reptile*
claret knife parlour
  04/27/14
They will cap all forgiveness (PSLF, PAYE, IBR) at around $5...
buff thirsty indirect expression lettuce
  04/24/14
But that won't even cover my interest
Bearded Narrow-minded Locale
  04/24/14
...
cracking garnet circlehead
  11/18/14
lol at this boomer rag
Impressive generalized bond space
  04/24/14
Cot damn, just get rid of all this government loan shit and ...
ruby school
  04/24/14
This. Don't care is Da'Mica can't get a loan to study anci...
Topaz 180 kitty theatre
  04/24/14
won't help u get a nonshitjob, you'll still be making 5 figu...
wine gaming laptop
  04/26/14
...
bossy well-lubricated trailer park azn
  04/26/14
that's muscular ginger btw. he makes 60k but sucks banker co...
wine gaming laptop
  04/26/14
...
wine gaming laptop
  04/26/14
...
wine gaming laptop
  04/27/14
Lol my salary is in the low 90s with 15% bonus HTH. Post a...
Topaz 180 kitty theatre
  11/18/14
Forgot to change Monkiers, lil Breh Date: November 18th...
beta queen of the night mad cow disease
  11/18/14
Change monikers? I only have one account. You're fuckin...
Topaz 180 kitty theatre
  11/18/14
...
beta queen of the night mad cow disease
  11/18/14
cr
transparent disturbing sex offender hospital
  04/24/14
tuitions have been rising faster than inflation independent ...
Odious Insecure Parlor
  11/18/14
...
rough-skinned wagecucks
  04/24/14
fuckfuckfuck
sickened corn cake
  04/24/14
and god DAMNIT Law Center, you had to be greedy
sickened corn cake
  04/24/14
...
Confused Weed Whacker National
  04/24/14
...
cracking garnet circlehead
  11/18/14
Nobody will ever get $100K+ forgiven ever.
buff thirsty indirect expression lettuce
  04/24/14
i owe $275K fuckkkkkkkkkk
sickened corn cake
  04/24/14
Not a chance they will be able to renege on current borrower...
transparent disturbing sex offender hospital
  04/24/14
you know about the tax bomb, right?
buff thirsty indirect expression lettuce
  04/24/14
(2007 grad bitterly making monthly payments, grasping at str...
transparent disturbing sex offender hospital
  04/24/14
More like: (earl pumo)
swashbuckling personal credit line market
  04/24/14
This is false. It's not necessarily likely, but certainly no...
opaque reading party turdskin
  04/24/14
...
buff thirsty indirect expression lettuce
  04/24/14
Wrong lil breh... The loan paperwork for most, if not all o...
Cerebral lodge
  04/24/14
IBR is a huge flip tho. 10/20 is far better than 15/25, to t...
Rambunctious beady-eyed location
  04/24/14
reminder: every single other civilized country in the world ...
sickened corn cake
  04/24/14
CR, but still, if you're dumb enough to sign the loan papers...
buff thirsty indirect expression lettuce
  04/24/14
Goddamn jews, amirite?
olive telephone
  04/24/14
I thought the UK and Australia were pushing to follow our sh...
Chocolate nursing home famous landscape painting
  11/18/14
hopefully they end it
floppy white gas station
  04/24/14
they have to grandfather in existing people though, right? i...
sickened corn cake
  04/24/14
No, it would be grotesquely unfair to give some $200-300K+ f...
buff thirsty indirect expression lettuce
  04/24/14
(guy who doesn't understand the concept of grandfathering)
Confused Weed Whacker National
  04/24/14
Even under the current rules, you were never guaranteed full...
buff thirsty indirect expression lettuce
  04/24/14
No one's disputing that. What's your point?
Confused Weed Whacker National
  04/24/14
Hurts any argument that borrowers would be harmed by capping...
buff thirsty indirect expression lettuce
  04/24/14
im not a lawyer bro. i like to make money so i dont worry ab...
floppy white gas station
  04/24/14
What would breach of PAYE damages even be.
Rambunctious beady-eyed location
  04/24/14
Well you would've just paid off the debt if not for PAYE rel...
buff thirsty indirect expression lettuce
  04/24/14
WSJ is right on. PAYE is terrible policy. And I say this as ...
transparent disturbing sex offender hospital
  04/24/14
of course they're right, but it would be massively unfair if...
sickened corn cake
  04/24/14
Won't happen. Bump this in 2030.
transparent disturbing sex offender hospital
  04/24/14
It would be massively unfair if they just forgave the loans ...
cracking garnet circlehead
  04/24/14
This won't happen. Nothing is ever getting forgiven past $5...
buff thirsty indirect expression lettuce
  04/24/14
...
Confused Weed Whacker National
  04/24/14
it is a windfall for students and universities
Arrogant Hilarious Resort
  04/24/14
*was
buff thirsty indirect expression lettuce
  04/24/14
*gets a worthless JD all for the low, low price of 20 years ...
Confused Weed Whacker National
  04/24/14
a jd is not worthless a person with a jd may be worthless
Arrogant Hilarious Resort
  04/27/14
180
wine gaming laptop
  04/27/14
PAYE should be eliminated
indigo masturbator forum
  04/24/14
(Moronic reptile)
soul-stirring ultramarine chapel
  11/18/14
It is HIGHLY unlikely this will be made retroactively. I say...
dun boyish psychic
  04/24/14
Do you understand how legislation works? Congress can change...
indigo masturbator forum
  04/24/14
Actually, no.
transparent disturbing sex offender hospital
  04/24/14
no. Governments may act in their sovereign capacity but also...
vivacious elastic band rehab
  04/24/14
I see nothing in the constitution that prevents congress fro...
indigo masturbator forum
  04/24/14
in practice, here's what happens - congress changes law. no...
iridescent trust fund
  04/24/14
Made me laugh and cry at same time.
opaque reading party turdskin
  04/24/14
But governments aren't people!!
transparent disturbing sex offender hospital
  04/27/14
cr.
transparent disturbing sex offender hospital
  04/24/14
PLUS promissory notes reference neither PAYE nor PSLF. IBR a...
Rambunctious beady-eyed location
  04/24/14
...
buff thirsty indirect expression lettuce
  04/24/14
so, if we're on IBR, we're good?
sickened corn cake
  04/24/14
I'm not on PAYE so I'm not sure, but some MFE in another thr...
Rambunctious beady-eyed location
  04/24/14
you sign an application to get on PAYE. it looks like this: ...
sickened corn cake
  04/24/14
I'm not sure but I imagine so - or probably, you get another...
Rambunctious beady-eyed location
  04/24/14
I don't think they'll apply it retroactively either but ther...
vivacious elastic band rehab
  04/24/14
LOL, all are resources are required to provide for are shitb...
Effete scarlet menage
  04/24/14
"tbf, all government involvement in student loans is a ...
pearly blood rage
  04/24/14
go on...
Effete scarlet menage
  04/24/14
...
deep light son of senegal feces
  04/26/14
Holy shit did they actually link income inequality with youn...
Trip range
  04/24/14
...
sickened corn cake
  04/24/14
...
opaque reading party turdskin
  04/24/14
Are they *seriously* arguing that it's BAD to have PAYE and ...
opaque reading party turdskin
  04/24/14
Yes, that was a bad point to focus on. But if they can get ...
walnut cruel-hearted pit newt
  04/24/14
Right but that's ****not*** the conservative boomer argument...
opaque reading party turdskin
  04/24/14
Think there's a chance that if there were underwriting re ac...
walnut cruel-hearted pit newt
  04/24/14
Why incentivize people to work in govt with forgiveness prog...
Topaz 180 kitty theatre
  04/24/14
the best candidates tend to go private so there's a lack of ...
Overrated sanctuary
  04/26/14
bull fucking shit
Arrogant Hilarious Resort
  04/27/14
WSJ shitwriter with a B.A. in journalism in 1991 from state ...
lake liquid oxygen
  04/24/14
link
opaque reading party turdskin
  04/24/14
...
Supple box office
  04/24/14
LOL. Greedy Boomer-Jew university administrators have pwnd ...
Slate french senate crotch
  04/24/14
I'd like to subscribe to your newsletter.
Brass home
  04/24/14
explain your moniker to me
Slate french senate crotch
  04/24/14
...
bossy well-lubricated trailer park azn
  04/26/14
this is the end result of Boomerism: an article and 15 pages...
deep light son of senegal feces
  04/26/14
...
wine gaming laptop
  04/26/14
...
sickened corn cake
  04/27/14
...
amethyst arousing property prole
  04/27/14
...
cracking garnet circlehead
  11/18/14
Conturds will not be happy until we can re-institute slavery...
Tantric navy antidepressant drug
  04/27/14
No, but reptiles would be perfectly happy to destroy the cur...
hyperactive coffee pot lay
  04/27/14
they want to destroy higher education so that they can prote...
Tantric navy antidepressant drug
  04/27/14
LOL, link?
wine gaming laptop
  04/27/14
lol are you still out of the country breh?
Bearded Narrow-minded Locale
  04/27/14
sorta faggot
Tantric navy antidepressant drug
  04/27/14
how's los angeles?
Bearded Narrow-minded Locale
  04/27/14
How uranus?
Tantric navy antidepressant drug
  04/27/14
...
Curious Plaza Juggernaut
  05/13/14
mo money fo dem programs (xo poas
Slate french senate crotch
  11/18/14
"most loans are issued regardless of a borrower's abili...
Chocolate nursing home famous landscape painting
  11/18/14


Poast new message in this thread



Reply Favorite

Date: April 24th, 2014 1:28 PM
Author: Supple box office

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: Rambunctious beady-eyed location

*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: claret knife parlour

*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: buff thirsty indirect expression lettuce

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: Bearded Narrow-minded Locale

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: cracking garnet circlehead



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



Reply Favorite

Date: April 24th, 2014 1:43 PM
Author: Impressive generalized bond space

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: ruby school

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: Topaz 180 kitty theatre

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: wine gaming laptop

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: bossy well-lubricated trailer park azn



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



Reply Favorite

Date: April 26th, 2014 3:23 PM
Author: wine gaming laptop

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: wine gaming laptop



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



Reply Favorite

Date: April 27th, 2014 5:25 PM
Author: wine gaming laptop



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



Reply Favorite

Date: November 18th, 2014 2:09 PM
Author: Topaz 180 kitty theatre

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: beta queen of the night mad cow disease

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: Topaz 180 kitty theatre

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: beta queen of the night mad cow disease



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



Reply Favorite

Date: April 24th, 2014 2:09 PM
Author: transparent disturbing sex offender hospital

cr

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



Reply Favorite

Date: November 18th, 2014 2:15 PM
Author: Odious Insecure Parlor

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: rough-skinned wagecucks



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



Reply Favorite

Date: April 24th, 2014 1:50 PM
Author: sickened corn cake

fuckfuckfuck

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



Reply Favorite

Date: April 24th, 2014 1:50 PM
Author: sickened corn cake

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: Confused Weed Whacker National



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



Reply Favorite

Date: November 18th, 2014 1:53 PM
Author: cracking garnet circlehead



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



Reply Favorite

Date: April 24th, 2014 1:50 PM
Author: buff thirsty indirect expression lettuce

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: sickened corn cake

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: transparent disturbing sex offender hospital

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: buff thirsty indirect expression lettuce

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: transparent disturbing sex offender hospital

(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: swashbuckling personal credit line market

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: opaque reading party turdskin

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: buff thirsty indirect expression lettuce



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



Reply Favorite

Date: April 24th, 2014 4:10 PM
Author: Cerebral lodge

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: Rambunctious beady-eyed location

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: sickened corn cake

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: buff thirsty indirect expression lettuce

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: olive telephone

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: Chocolate nursing home famous landscape painting

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: floppy white gas station

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: sickened corn cake

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: buff thirsty indirect expression lettuce

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: Confused Weed Whacker National

(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: buff thirsty indirect expression lettuce

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: Confused Weed Whacker National

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: buff thirsty indirect expression lettuce

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: floppy white gas station

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: Rambunctious beady-eyed location

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: buff thirsty indirect expression lettuce

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: transparent disturbing sex offender hospital

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: sickened corn cake

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: transparent disturbing sex offender hospital

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: cracking garnet circlehead

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: buff thirsty indirect expression lettuce

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: Confused Weed Whacker National



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



Reply Favorite

Date: April 24th, 2014 2:36 PM
Author: Arrogant Hilarious Resort

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: buff thirsty indirect expression lettuce

*was

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



Reply Favorite

Date: April 24th, 2014 4:23 PM
Author: Confused Weed Whacker National

*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: Arrogant Hilarious Resort

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: wine gaming laptop

180

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



Reply Favorite

Date: April 24th, 2014 2:27 PM
Author: indigo masturbator forum

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: soul-stirring ultramarine chapel

(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: dun boyish psychic

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: indigo masturbator forum

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: transparent disturbing sex offender hospital

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: vivacious elastic band rehab

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: indigo masturbator forum

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: iridescent trust fund

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: opaque reading party turdskin

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: transparent disturbing sex offender hospital

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: transparent disturbing sex offender hospital

cr.

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



Reply Favorite

Date: April 24th, 2014 2:31 PM
Author: Rambunctious beady-eyed location

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: buff thirsty indirect expression lettuce



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



Reply Favorite

Date: April 24th, 2014 2:45 PM
Author: sickened corn cake

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: Rambunctious beady-eyed location

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: sickened corn cake

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: Rambunctious beady-eyed location

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: vivacious elastic band rehab

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: Effete scarlet menage

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: pearly blood rage

"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: Effete scarlet menage

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: deep light son of senegal feces



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



Reply Favorite

Date: April 24th, 2014 3:25 PM
Author: Trip range

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: sickened corn cake



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



Reply Favorite

Date: April 24th, 2014 3:49 PM
Author: opaque reading party turdskin



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



Reply Favorite

Date: April 24th, 2014 3:47 PM
Author: opaque reading party turdskin

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: walnut cruel-hearted pit newt

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: opaque reading party turdskin

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: walnut cruel-hearted pit newt

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: Topaz 180 kitty theatre

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: Overrated sanctuary

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: Arrogant Hilarious Resort

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: lake liquid oxygen

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: opaque reading party turdskin

link



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



Reply Favorite

Date: April 24th, 2014 6:05 PM
Author: Supple box office



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



Reply Favorite

Date: April 24th, 2014 6:07 PM
Author: Slate french senate crotch

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: Brass home

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: Slate french senate crotch

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: bossy well-lubricated trailer park azn



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



Reply Favorite

Date: April 26th, 2014 3:33 PM
Author: deep light son of senegal feces

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: wine gaming laptop



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



Reply Favorite

Date: April 27th, 2014 6:25 PM
Author: sickened corn cake



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



Reply Favorite

Date: April 27th, 2014 7:42 PM
Author: amethyst arousing property prole



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



Reply Favorite

Date: November 18th, 2014 1:50 PM
Author: cracking garnet circlehead



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



Reply Favorite

Date: April 27th, 2014 8:43 PM
Author: Tantric navy antidepressant drug

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: hyperactive coffee pot lay

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: Tantric navy antidepressant drug

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: wine gaming laptop

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: Bearded Narrow-minded Locale

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: Tantric navy antidepressant drug

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: Bearded Narrow-minded Locale

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: Tantric navy antidepressant drug

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: Curious Plaza Juggernaut



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



Reply Favorite

Date: November 18th, 2014 1:54 PM
Author: Slate french senate crotch

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: Chocolate nursing home famous landscape painting

"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)