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#studentloans

2 posts2 participants1 post today
Continued thread

In court filings ahead of the hearing, Mark Paoletta, the bureau’s chief legal officer, defended the #purge, which he said would “right-size” an agency filled w/ “vast waste.” Paoletta said he & others had determined that it needed only 200 workers. Many legally required units — including those that focus on #FairLending, #StudentLoans & protections for older Americans — need only one! employee, he said.

#law#Trump#CFPB

"Rs want to kill the income-based repayment plans for #studentloans.

W/o them, my student loan payment will be something close to $3K/mo.

It'd destroy us all financially."
-R Bitecofer

Trump admin, cts, & MOC: poised to make the most significant changes to fed student loan repayment plans in a gen. If enacted, these reforms could cut off access to affordable pymts for Ms of borrowers, elim stud loan forgiveness +trap ppl in a lifetime of debt, warn advocates.

#USPol forbes.com/sites/adamminsky/20

ForbesHuge Changes To Student Loan Repayment Plans Are Coming, And Borrowers Could Pay A Steep PriceIf enacted, these reforms could cut off access to affordable payments, eliminate student loan forgiveness, and trap people in a lifetime of debt, warn advocates.

So, it seems that #Trump is using typical abuser behavior against us all. Abusers often isolate their victims, they can control them financially, they can be abusive while telling the victims that they are doing "x" for their own good (gaslighting). The American public is suffering from being in a relationship with an abusive, #manosphere-embracing bully. And those who voted for him are also victims who don't know they are victims (though they are slowly finding out).
#StudentLoans #WithholdingFunding #SocialSecurity #SNAP #TrumpIsABully #TrumpIsAnAbuser #USPol #USIsolationism

Replied in thread

@OutOfSpace

The most interesting part is how the whole thing has been hidden in plain sight.

#ConsumerCredit reached an all time high under the #Biden/ #Harris administration in the #USA. And while they tried to mitigate that somewhat by for instance restructuring programs for #StudentLoans, the double #burden of stagnating #wages and rising #inflation has pushed many households over the edge.

Now #Trump is adding way more inflation to the mix & laying off tens of thousands of govt #workers.

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In a statement, #KellyLoeffler said, "As the government's largest guarantor of business loans, the #SBA stands ready to deploy its resources & expertise on behalf of America's #taxpayers & #students."

But those resources are about to take a big hit as well, as the SBA also announced on Friday that it plans to cut its workforce by more than 40%.

[a “break it then say it should be shut down because it’s broken” philosophy]

#USpol#Trump#Musk
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#Trump said he would move #StudentLoans "out of the Dept of #Education immediately" & that #KellyLoeffler & her staff are "all set for it. They're waiting for it. It'll be serviced much better than it has in the past. It's been a mess."

~8M federal #StudentLoan borrowers are in #legal limbo, not making loan payments, as #Biden-era repayment plans were frozen by a judge for being *potentially* illegal. Borrowers also can't currently enroll in the govt's income-driven repayment plans….

“My payment is going to quadruple,” Ally Rooker shared in a viral TikTok video. Her student loan payment for her public health degree is expected to increase from $250 a month to $900.

Last month, a federal judge blocked the Biden administration-era SAVE plan, an income-driven student loan replacement program with 8 million borrowers, claiming it lacked the authority to forgive millions of dollars in debt."

fortune.com/2025/03/17/millenn #uspol #StudentLoans

Fortune · From $500 to $5000: millennials are watching their monthly student loan payments skyrocket under Trump and panicking on TikTokBy Preston Fore

"Some might feel like saying, we fucking warned you, but I won’t. Just this cautionary note…

⚠️ If you’re one of the >42M borrowers with fed student loan debt, now is a good time to check your payment portal."
-C Webb

“What Trump is doing on student loans is literally going to crash the economy" -Rooker

Another TikToker took to the platform to describe her husband’s dramatic 10x payment increase—from $500 a month to close to $5,000.

#Trumpcession #StudentLoans #USPol
fortune.com/2025/03/17/millenn

I was really excited about this for a minute, but if they’re only admitting white men going forward I’m not sure I should be excited about this. But if fewer people saddled with student loan debt is always a good thing.

Also Dartmouth in NH decided to give free tuition to people whose families are less than $120,000 a year a few years ago, and if you don’t qualify for that they tried to get you grants because they don’t want to accept student loans anymore.

Harvard offers free tuition for families making less than $200,000 bbc.com/news/articles/cm2d5jll

www.bbc.comHarvard offers free tuition for families making less than $200,000The move comes as Trump considers cuts to US university funding over DEI programmes.

@raymondpert “The letter also demands that Columbia ban masks on campus meant to conceal the wearer’s identity ‘or intimidate others,’ adopt a new definition of antisemitism, abolish its current process for discipliningstudents and deliver a plan to ‘reform undergraduate admissions, international recruiting, and graduate admissions practices.’”

Ew. Just in time for them all to get measles.

But back to the topic at hand, this is a great way to ruin people’s lives. Anyone in those programs is not matriculated if those programs end, meaning their student loan grace period or repayment starts. And if they’re on a student visa . . . idk but this is life ruining for people who have invested years working towards these degrees.