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Out of curiosity, where did the idea of student debts being likely to be forgiven come from? AFAIK, the students loan were specifically designed to not be easil

by dexen 8y ago

Out of curiosity, where did the idea of student debts being likely to be forgiven come from? AFAIK, the students loan were specifically designed to not be easily shed; point in case, they don't get discharged through personal bankruptcy.

murph-almighty 8y ago
There's a government program that forgives federal student loans if you work for long enough in the public sector or for a nonprofit: https://studentaid.ed.gov/sa/repay-loans/forgiveness-cancellation/public-service https://studentaid.ed.gov/sa/repay-loans/forgiveness-cancell... The idea is to incentivize work that isn't always profitable but needs to get done- teaching and social work, for example. >they don't get discharged through personal bankruptcy My understanding as to why this happened is that some people basically did the following: 1) Get expensive, hard-to-earn degree in lucrative field (e.g. MD, PhD) 2) Declare bankruptcy prior to working 3) Immediately start work and cash out
cr1895 8y ago
It's referring to Public Service Loan Forgiveness, which after ten years of payments while employed in government or other specific jobs loans the remainder of your loans can be forgiven. A House bill proposed getting rid of it. I'm not sure tbh how that implicates DeVos or what the current status is. https://studentaid.ed.gov/sa/repay-loans/forgiveness-cancellation/public-service https://studentaid.ed.gov/sa/repay-loans/forgiveness-cancell... https://www.cnbc.com/2017/12/06/house-gop-bill-could-eliminate-student-loan-forgiveness.html https://www.cnbc.com/2017/12/06/house-gop-bill-could-elimina...
- murph-almighty 8y ago
  Devos supports removal of the program and was likely instrumental in some of the other modifications to education funding from the recent tax reform: https://www.studentdebtrelief.us/forgiveness/trump-student-loan-forgiveness/ https://www.studentdebtrelief.us/forgiveness/trump-student-l...

by dexen 8y ago

murph-almighty 8y ago

There's a government program that forgives federal student loans if you work for long enough in the public sector or for a nonprofit: https://studentaid.ed.gov/sa/repay-loans/forgiveness-cancellation/public-service https://studentaid.ed.gov/sa/repay-loans/forgiveness-cancell... The idea is to incentivize work that isn't always profitable but needs to get done- teaching and social work, for example. >they don't get discharged through personal bankruptcy My understanding as to why this happened is that some people basically did the following: 1) Get expensive, hard-to-earn degree in lucrative field (e.g. MD, PhD) 2) Declare bankruptcy prior to working 3) Immediately start work and cash out

cr1895 8y ago

It's referring to Public Service Loan Forgiveness, which after ten years of payments while employed in government or other specific jobs loans the remainder of your loans can be forgiven. A House bill proposed getting rid of it. I'm not sure tbh how that implicates DeVos or what the current status is. https://studentaid.ed.gov/sa/repay-loans/forgiveness-cancellation/public-service https://studentaid.ed.gov/sa/repay-loans/forgiveness-cancell... https://www.cnbc.com/2017/12/06/house-gop-bill-could-eliminate-student-loan-forgiveness.html https://www.cnbc.com/2017/12/06/house-gop-bill-could-elimina...

murph-almighty 8y ago
Devos supports removal of the program and was likely instrumental in some of the other modifications to education funding from the recent tax reform: https://www.studentdebtrelief.us/forgiveness/trump-student-loan-forgiveness/ https://www.studentdebtrelief.us/forgiveness/trump-student-l...