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Obama realizes PAYE will "blow a very large whole" in budget

http://www.mainstreet.com/article/student-loan-payback-progr...
Sinister parlour therapy
  03/17/15
Awaiting johnsmeyers opinion
odious generalized bond
  03/17/15
I have no opinion. PAYE pumo links these articles from no na...
impertinent erotic old irish cottage
  03/17/15
...
Jet-lagged corn cake
  03/17/15
...
Costumed floppy whorehouse
  03/17/15
YOU GOT IT?!
mustard set
  03/17/15
Yeah, i paid off pre 2007 loan, consolidated and they didn't...
impertinent erotic old irish cottage
  03/17/15
LOL, you calling MainStreet a no name site? You do realize ...
Sinister parlour therapy
  03/17/15
$18K? Lololol
Azure Pisswyrm
  03/17/15
I know, rite? I always read these and roll my eyes endles...
maniacal institution boistinker
  03/17/15
Have you heard of PAYE brother?
Jet-lagged corn cake
  03/17/15
PAYE is flame when you have this much debt.
maniacal institution boistinker
  03/17/15
what
Jet-lagged corn cake
  03/17/15
I'm not going to buy into that flame and then get BIGDEBTRED...
maniacal institution boistinker
  03/17/15
lol bro they aren't going to do shit to the people already o...
Jet-lagged corn cake
  03/17/15
Hopefully no one in the media gets wind of all the law stude...
Jet-lagged corn cake
  03/17/15
It's crazy that it's reached this point. Until recently, it...
Boyish twisted toaster
  03/17/15
cr. I don't blame the students. The students have to look at...
Jet-lagged corn cake
  03/17/15
Hey question....can PAYE be undone or is govt locked in for ...
brass sticky step-uncle's house
  03/17/15
Of course they can change it.
Azure Pisswyrm
  03/17/15
How's that legal, though? That's analogous to a mortgage...
brass sticky step-uncle's house
  03/17/15
just do tucker act
Boyish twisted toaster
  03/17/15
Not it isn't. The govt writes the LoLz so they can change ...
Azure Pisswyrm
  03/17/15
That's unethical.
brass sticky step-uncle's house
  03/17/15
ok this has to be flame
Fantasy-prone Senate
  03/17/15
It may be legal, but it's unethical.
brass sticky step-uncle's house
  03/17/15
well hire a lobbyist to raise the issue of ethics in ARE fis...
Fantasy-prone Senate
  03/17/15
They can alter just about anything that isn't in the promiss...
cheese-eating jade police squad
  03/17/15
may not be. PAYE (although not PSLF) is in the MPN. So they ...
Jet-lagged corn cake
  03/17/15
lol the DOE
Sinister parlour therapy
  03/17/15
This is the answer I was looking for...thanks.
brass sticky step-uncle's house
  03/17/15
(Has PAYE rug pulled 5 years from now) (Goes to reference...
Sinister parlour therapy
  03/17/15
until the next day when the DOE says "lulz that shit ai...
stimulating insanely creepy striped hyena nowag
  03/17/15
nope I'm locked in
Jet-lagged corn cake
  03/17/15
She sucked my cock, fell in love, and she was locked in. Sh...
cordovan titillating corner
  03/17/15
...
Sinister parlour therapy
  03/17/15
Because the terms are your rate and your amount and the defa...
vigorous effete native
  03/17/15
let me answer by saying *johnsmeyer receiving a letter fr...
Fantasy-prone Senate
  03/17/15
jfc, millenials. maybe the gd boomers have a point about you...
Fantasy-prone Senate
  03/17/15
How can you fault him when they gave him MORE THAN HE ASKED ...
Naked razzle-dazzle home
  03/17/15
just incredible that we're giving any money at all to people...
Fantasy-prone Senate
  03/17/15
well that spigot would be shut off right away if the borrowe...
Hilarious electric furnace multi-billionaire
  03/17/15
oh i know, i just sometimes have a hard time processing how ...
Fantasy-prone Senate
  03/17/15
it's unconscionable!
supple twinkling uncleanness
  03/17/15
This can't be right. Julia has said that PAYE actually SAVES...
Jet-lagged corn cake
  03/17/15
Her PAYE article was the strangest PAYE article I've ever se...
Sinister parlour therapy
  03/17/15
"All kinds of outlandish numerical claims with no appar...
marvelous chest-beating pit people who are hurt
  03/17/15
Just like Obamacare and Medicare and Medicaid
Azure Pisswyrm
  03/17/15
And invading Iraq
motley lemon bbw rehab
  03/17/15
indeed "it will be paid for in oil!!!"
Azure Pisswyrm
  03/17/15
(Julia covering Obama speech)
Hilarious electric furnace multi-billionaire
  03/17/15
Sweet, just do "penalize marriage" ljl This sh...
contagious main people
  03/17/15
student loans were designed to rid the world of white people...
Haunting fighting foreskin
  03/17/15
why doesn't the GOP/conservatives EVER make or even hint at ...
frozen market
  03/17/15


Poast new message in this thread



Reply Favorite

Date: March 17th, 2015 11:54 AM
Author: Sinister parlour therapy

http://www.mainstreet.com/article/student-loan-payback-programs-weigh-heavily-on-the-federal-budget

NEW YORK (MainStreet) — Vicki DiStefano is some $18,000 in debt from student loans.

“I took out federal loans, and they accumulated interest while I was still in school,” the 24-year-old Babylon, N.Y. resident told MainStreet. “I walked out with $4,000 more than I asked for. That was quite a shock to me.”

DiStefano, who works as a marketing manager, has been making payments since she graduated from SUNY New Paltz more than three years ago. But she's able to get money back from the government by deducting interest payments on her annual tax return.

DiStefano is among those in student loan debt who use strategies to reduce their debt burden. Yet many of the strategies employed, like student loan forgiveness, end up hurting the government.

That’s why President Obama’s 2016 budget plans a cap on forgiveness at $57,500 with any amount over $57,500 to be carried for up to an additional five years.

In addition to allowing graduates like DiStefano to deduct loan interest payments on their taxes, current rules also completely forgive debt in 20 rather than 25 years.

Dubbed Pay as You Earn, PAYE only requires students to make loan payments equal to 10% as opposed to 15% of their discretionary income, but unless students request the PAYE option, loan services places them into the standard ten-year repayment program.

“Forgiving a student loan entirely winds up costing the government and tax payer’s money,” said Leslie Tayne, a Long Island-based financial attorney and debt specialist.

“What’s being proposed [in Obama's budget plan] is that any balance remaining over the 10 or 20 year forgiveness period will be forgiven in 15 or 25 years,” said Jack Schacht, founder of My College Planning Team.

The PAYE program is especially generous when it comes to how discretionary income is determined. Debtors can deduct 150% of the poverty guideline for a single person or an estimated $17,000.

“Now that more and more students are learning about it, the administration apparently realized the program is no longer sustainable and would blow a very large hole in the federal budget,” Schacht told MainStreet.

Under the President’s proposed changes, married people will no longer be able to list just one income to determine the amount of their loan payment.

“This will help many married couples who may be able to qualify for income sensitive payment plans if their individual income is lower than their spousal income,” Tayne told MainStreet.

Current rules allow married borrowers to exclude their spouse’s income if they file separately. However, they are permitted to include their spouse and children in their household size, which reduces payments even further.

“Without the changes, the whole program would collapse, because the country cannot afford it,” said Schacht.



(http://www.autoadmit.com/thread.php?thread_id=2832128&forum_id=2#27505128)



Reply Favorite

Date: March 17th, 2015 11:55 AM
Author: odious generalized bond

Awaiting johnsmeyers opinion

(http://www.autoadmit.com/thread.php?thread_id=2832128&forum_id=2#27505133)



Reply Favorite

Date: March 17th, 2015 12:07 PM
Author: impertinent erotic old irish cottage

I have no opinion. PAYE pumo links these articles from no name sites that misstate the new proposals. And it only aplies to NEW PAYE. I snuck on PAYE 1.0 and PAYE pumo is MAF.

(http://www.autoadmit.com/thread.php?thread_id=2832128&forum_id=2#27505213)



Reply Favorite

Date: March 17th, 2015 12:08 PM
Author: Jet-lagged corn cake



(http://www.autoadmit.com/thread.php?thread_id=2832128&forum_id=2#27505218)



Reply Favorite

Date: March 17th, 2015 12:30 PM
Author: Costumed floppy whorehouse



(http://www.autoadmit.com/thread.php?thread_id=2832128&forum_id=2#27505362)



Reply Favorite

Date: March 17th, 2015 12:42 PM
Author: mustard set

YOU GOT IT?!

(http://www.autoadmit.com/thread.php?thread_id=2832128&forum_id=2#27505460)



Reply Favorite

Date: March 17th, 2015 1:07 PM
Author: impertinent erotic old irish cottage

Yeah, i paid off pre 2007 loan, consolidated and they didn't pick up on it

(http://www.autoadmit.com/thread.php?thread_id=2832128&forum_id=2#27505633)



Reply Favorite

Date: March 17th, 2015 2:26 PM
Author: Sinister parlour therapy

LOL, you calling MainStreet a no name site? You do realize that JULIA writes for MainStreet? HTFH.

(http://www.autoadmit.com/thread.php?thread_id=2832128&forum_id=2#27506103)



Reply Favorite

Date: March 17th, 2015 11:58 AM
Author: Azure Pisswyrm

$18K?

Lololol

(http://www.autoadmit.com/thread.php?thread_id=2832128&forum_id=2#27505145)



Reply Favorite

Date: March 17th, 2015 12:03 PM
Author: maniacal institution boistinker

I know, rite?

I always read these and roll my eyes endlessly. Fucking faggot whining about 18k. Try dealing with 180k @8%.

Fuck this gay earth, brother.

(http://www.autoadmit.com/thread.php?thread_id=2832128&forum_id=2#27505183)



Reply Favorite

Date: March 17th, 2015 12:09 PM
Author: Jet-lagged corn cake

Have you heard of PAYE brother?

(http://www.autoadmit.com/thread.php?thread_id=2832128&forum_id=2#27505227)



Reply Favorite

Date: March 17th, 2015 1:44 PM
Author: maniacal institution boistinker

PAYE is flame when you have this much debt.

(http://www.autoadmit.com/thread.php?thread_id=2832128&forum_id=2#27505832)



Reply Favorite

Date: March 17th, 2015 1:50 PM
Author: Jet-lagged corn cake

what

(http://www.autoadmit.com/thread.php?thread_id=2832128&forum_id=2#27505862)



Reply Favorite

Date: March 17th, 2015 2:30 PM
Author: maniacal institution boistinker

I'm not going to buy into that flame and then get BIGDEBTREDUCTIONCAPPWNED.

(http://www.autoadmit.com/thread.php?thread_id=2832128&forum_id=2#27506131)



Reply Favorite

Date: March 17th, 2015 2:36 PM
Author: Jet-lagged corn cake

lol bro they aren't going to do shit to the people already on the program. they've already said as much.

(http://www.autoadmit.com/thread.php?thread_id=2832128&forum_id=2#27506173)



Reply Favorite

Date: March 17th, 2015 12:09 PM
Author: Jet-lagged corn cake

Hopefully no one in the media gets wind of all the law students and med students with $300k+ debt paying nothing via PAYE

(http://www.autoadmit.com/thread.php?thread_id=2832128&forum_id=2#27505223)



Reply Favorite

Date: March 17th, 2015 12:33 PM
Author: Boyish twisted toaster

It's crazy that it's reached this point. Until recently, it was more or less a toss up between paying down as fast as possible and going on PAYE. I think the threshold is somewhere in the mid-200ks where paying down isn't even an option and you have to PAYE. Literally every student coming out of HYS etc. going to biglaw will be on PAYE.

(http://www.autoadmit.com/thread.php?thread_id=2832128&forum_id=2#27505387)



Reply Favorite

Date: March 17th, 2015 12:37 PM
Author: Jet-lagged corn cake

cr. I don't blame the students. The students have to look at their school options and see what kind of job prospects, etc, they can get, and although cost of school has always been a factor, it has gotten to the point where almost no one can afford to pay it down on a normal repayment plan. That's why it's the fault of the system. The students are just acting rationally by doing PAYE/IBR. Boomers fucked it up royally and need to be on the hook for that. They shouldn't have tried to squeeze out extra $ by mortgaging everyone ELSE's future earnings. Faggots

(http://www.autoadmit.com/thread.php?thread_id=2832128&forum_id=2#27505426)



Reply Favorite

Date: March 17th, 2015 12:39 PM
Author: brass sticky step-uncle's house

Hey question....can PAYE be undone or is govt locked in for good? In other words, can govt (in like 12 years from now) just be like "ahhh this isn't working for us so we'll go back to the standard repayments effective immediately for all outstanding loans">??

(http://www.autoadmit.com/thread.php?thread_id=2832128&forum_id=2#27505441)



Reply Favorite

Date: March 17th, 2015 12:44 PM
Author: Azure Pisswyrm

Of course they can change it.

(http://www.autoadmit.com/thread.php?thread_id=2832128&forum_id=2#27505473)



Reply Favorite

Date: March 17th, 2015 12:46 PM
Author: brass sticky step-uncle's house

How's that legal, though?

That's analogous to a mortgage lender all of a sudden changing the terms of the loan 12 years after you were approved and agreed to certain terms. That shouldn't be legal.

(http://www.autoadmit.com/thread.php?thread_id=2832128&forum_id=2#27505489)



Reply Favorite

Date: March 17th, 2015 12:49 PM
Author: Boyish twisted toaster

just do tucker act

(http://www.autoadmit.com/thread.php?thread_id=2832128&forum_id=2#27505516)



Reply Favorite

Date: March 17th, 2015 12:49 PM
Author: Azure Pisswyrm

Not it isn't. The govt writes the LoLz so they can change them. Are you saying they can't adjust SS or Medicare because those are the rules!!!

(http://www.autoadmit.com/thread.php?thread_id=2832128&forum_id=2#27505520)



Reply Favorite

Date: March 17th, 2015 12:51 PM
Author: brass sticky step-uncle's house

That's unethical.

(http://www.autoadmit.com/thread.php?thread_id=2832128&forum_id=2#27505530)



Reply Favorite

Date: March 17th, 2015 12:53 PM
Author: Fantasy-prone Senate

ok this has to be flame

(http://www.autoadmit.com/thread.php?thread_id=2832128&forum_id=2#27505546)



Reply Favorite

Date: March 17th, 2015 12:55 PM
Author: brass sticky step-uncle's house

It may be legal, but it's unethical.

(http://www.autoadmit.com/thread.php?thread_id=2832128&forum_id=2#27505558)



Reply Favorite

Date: March 17th, 2015 1:00 PM
Author: Fantasy-prone Senate

well hire a lobbyist to raise the issue of ethics in ARE fiscal policy with an elected representative before the next senate budgetary hearing

(http://www.autoadmit.com/thread.php?thread_id=2832128&forum_id=2#27505598)



Reply Favorite

Date: March 17th, 2015 12:50 PM
Author: cheese-eating jade police squad

They can alter just about anything that isn't in the promissory note.

(http://www.autoadmit.com/thread.php?thread_id=2832128&forum_id=2#27505525)



Reply Favorite

Date: March 17th, 2015 12:53 PM
Author: Jet-lagged corn cake

may not be. PAYE (although not PSLF) is in the MPN. So they may be bound. The DOE has said that if the program is changed the people on current plans can stay on them.

(http://www.autoadmit.com/thread.php?thread_id=2832128&forum_id=2#27505544)



Reply Favorite

Date: March 17th, 2015 12:54 PM
Author: Sinister parlour therapy

lol the DOE

(http://www.autoadmit.com/thread.php?thread_id=2832128&forum_id=2#27505554)



Reply Favorite

Date: March 17th, 2015 12:56 PM
Author: brass sticky step-uncle's house

This is the answer I was looking for...thanks.

(http://www.autoadmit.com/thread.php?thread_id=2832128&forum_id=2#27505562)



Reply Favorite

Date: March 17th, 2015 12:57 PM
Author: Sinister parlour therapy

(Has PAYE rug pulled 5 years from now)

(Goes to referenced DOE webpage)

(Referenced DOE webpage fails to load)

(http://www.autoadmit.com/thread.php?thread_id=2832128&forum_id=2#27505576)



Reply Favorite

Date: March 17th, 2015 2:28 PM
Author: stimulating insanely creepy striped hyena nowag

until the next day when the DOE says "lulz that shit aint binding nigga u fucked"

(http://www.autoadmit.com/thread.php?thread_id=2832128&forum_id=2#27506115)



Reply Favorite

Date: March 17th, 2015 2:34 PM
Author: Jet-lagged corn cake

nope I'm locked in

(http://www.autoadmit.com/thread.php?thread_id=2832128&forum_id=2#27506163)



Reply Favorite

Date: March 17th, 2015 2:45 PM
Author: cordovan titillating corner

She sucked my cock, fell in love, and she was locked in.

She's gonna get her second chance to suck my cock again.

If she turns me down, she's gonna go straight to hell, she won't pass go, she'll never fuckin' win.

(http://www.autoadmit.com/thread.php?thread_id=2832128&forum_id=2#27506271)



Reply Favorite

Date: March 17th, 2015 3:03 PM
Author: Sinister parlour therapy



(http://www.autoadmit.com/thread.php?thread_id=2832128&forum_id=2#27506436)



Reply Favorite

Date: March 17th, 2015 1:43 PM
Author: vigorous effete native

Because the terms are your rate and your amount and the default remedies. I don't think the paye repayment option is built into the promissory note, at least it wasn't in mine.

(http://www.autoadmit.com/thread.php?thread_id=2832128&forum_id=2#27505822)



Reply Favorite

Date: March 17th, 2015 12:46 PM
Author: Fantasy-prone Senate

let me answer by saying

*johnsmeyer receiving a letter from reptile senators reminding him of the structure of us government and what that means for any deals struck by the current administration*

(http://www.autoadmit.com/thread.php?thread_id=2832128&forum_id=2#27505493)



Reply Favorite

Date: March 17th, 2015 12:39 PM
Author: Fantasy-prone Senate

jfc, millenials. maybe the gd boomers have a point about you idiots

Vicki DiStefano is some $18,000 in debt from student loans.

“I took out federal loans, and they accumulated interest while I was still in school,” the 24-year-old Babylon, N.Y. resident told MainStreet. “I walked out with $4,000 more than I asked for. That was quite a shock to me.”

(http://www.autoadmit.com/thread.php?thread_id=2832128&forum_id=2#27505444)



Reply Favorite

Date: March 17th, 2015 12:47 PM
Author: Naked razzle-dazzle home

How can you fault him when they gave him MORE THAN HE ASKED FOR!!?!?

(http://www.autoadmit.com/thread.php?thread_id=2832128&forum_id=2#27505498)



Reply Favorite

Date: March 17th, 2015 12:49 PM
Author: Fantasy-prone Senate

just incredible that we're giving any money at all to people that are literally too stupid or too disinterested to understand that they'll have to pay interest on that free gubmint money they're getting for their TTT polisci degrees

(http://www.autoadmit.com/thread.php?thread_id=2832128&forum_id=2#27505515)



Reply Favorite

Date: March 17th, 2015 12:52 PM
Author: Hilarious electric furnace multi-billionaire

well that spigot would be shut off right away if the borrower weren't chained to it for life

(http://www.autoadmit.com/thread.php?thread_id=2832128&forum_id=2#27505536)



Reply Favorite

Date: March 17th, 2015 12:56 PM
Author: Fantasy-prone Senate

oh i know, i just sometimes have a hard time processing how stupid and inefficient our education system and its financing is

(http://www.autoadmit.com/thread.php?thread_id=2832128&forum_id=2#27505568)



Reply Favorite

Date: March 17th, 2015 12:50 PM
Author: supple twinkling uncleanness

it's unconscionable!

(http://www.autoadmit.com/thread.php?thread_id=2832128&forum_id=2#27505522)



Reply Favorite

Date: March 17th, 2015 12:57 PM
Author: Jet-lagged corn cake

This can't be right. Julia has said that PAYE actually SAVES the gov't hundreds of millions.

(http://www.autoadmit.com/thread.php?thread_id=2832128&forum_id=2#27505572)



Reply Favorite

Date: March 17th, 2015 12:59 PM
Author: Sinister parlour therapy

Her PAYE article was the strangest PAYE article I've ever seen. All kinds of outlandish numerical claims with no apparent mathematical support.

(http://www.autoadmit.com/thread.php?thread_id=2832128&forum_id=2#27505585)



Reply Favorite

Date: March 17th, 2015 7:07 PM
Author: marvelous chest-beating pit people who are hurt

"All kinds of outlandish numerical claims with no apparent mathematical support."

http://tinyurl.com/n33x6jx

(http://www.autoadmit.com/thread.php?thread_id=2832128&forum_id=2#27508114)



Reply Favorite

Date: March 17th, 2015 1:20 PM
Author: Azure Pisswyrm

Just like Obamacare and Medicare and Medicaid

(http://www.autoadmit.com/thread.php?thread_id=2832128&forum_id=2#27505704)



Reply Favorite

Date: March 17th, 2015 1:57 PM
Author: motley lemon bbw rehab

And invading Iraq

(http://www.autoadmit.com/thread.php?thread_id=2832128&forum_id=2#27505909)



Reply Favorite

Date: March 17th, 2015 2:36 PM
Author: Azure Pisswyrm

indeed "it will be paid for in oil!!!"

(http://www.autoadmit.com/thread.php?thread_id=2832128&forum_id=2#27506177)



Reply Favorite

Date: March 17th, 2015 2:36 PM
Author: Hilarious electric furnace multi-billionaire

(Julia covering Obama speech)

(http://www.autoadmit.com/thread.php?thread_id=2832128&forum_id=2#27506171)



Reply Favorite

Date: March 17th, 2015 2:50 PM
Author: contagious main people

Sweet, just do "penalize marriage" ljl

This shit make me think bbooom may be on to something.

(http://www.autoadmit.com/thread.php?thread_id=2832128&forum_id=2#27506327)



Reply Favorite

Date: March 17th, 2015 2:53 PM
Author: Haunting fighting foreskin

student loans were designed to rid the world of white people, because it's largely white people who delay marriage & childrearing because of them

(http://www.autoadmit.com/thread.php?thread_id=2832128&forum_id=2#27506368)



Reply Favorite

Date: March 17th, 2015 2:59 PM
Author: frozen market

why doesn't the GOP/conservatives EVER make or even hint at that point? instead they sputter with rage at student debtors and scream at them to take three jobs and work 7 days per week for the next 40 years until it's all paid back. they don't even CONSIDER the implications for fertility.

(http://www.autoadmit.com/thread.php?thread_id=2832128&forum_id=2#27506405)