PAYE to be extended to pre-2007 borrowers, Tax Bomb removed, Int Rates lowered

It turns out that both sides of the aisle are in the pockets of the higher ed scam. Kind of like the immigration issue and just about everything else these days. Make no mistake: they are enacting this for the higher ed scam industry, not for students. A real policy (free market) would result in us being able to pay tuition with summer earnings like the boomers did.

These things **** us all over in the long run. But at least student debtors get their moment in the sun here. The govt owns everything now, we're all just special interests hoping for some scraps of the pie to fall from the table after the big boys are done.

http://online.wsj.com/article/SB10001424127887324059704578471223436096876.html

"Under the program, most borrowers with loans issued since October 2007 are eligible to participate. The budget proposal—which requires congressional approval—would let all borrowers with pre-2007 loans participate and would make tax exempt any debt forgiven through the program."

http://www.thedenverchannel.com/news/politics/republicans-to-back-obamas-student-loan-plan

http://www.huffingtonpost.com/2013/04/10/obama-budget-student-loans_n_3054677.html

EDIT: The wsj article seems to require membership. If you run a google search for it by name, it seems to open ok w/o membership.

Oh thank god. I was complaining about how unfair this was in a thread I started a while back. I wrote letters to my congressmen and to the white house. I guess I wasn't the only one 🙂 .

97% of my student loans were from pharmacy school. $6500 came from undergrad in 2001-2002. That $6500 made the other 97% ineligible. I even paid off the $6500 before my loans entered repayment hoping it would make me eligible, it didn't.

I have stafford undergrad loans from 2002-2006 that were consolidated in '06.

My assumption is that I am currently not eligible for PAYE

As of now I will remain ineligible even if I payoff my loans from prior to 2007, before I start servicing my med school debt which is from 2008 on?

I am graduating Med School in a couple weeks, What should I do?

If I enter IBR this year will I be able to get into PAYE in the case the gov't allows students with pre-2007 loans?

my wife has consolidated her federal loans from pharmacy school in 2009 (on a 25yr plan), is she still eligible for IBR? and will the fact that she has loans reduce my monthly IBR cost?

My Federal Loans: 245k Hers: 65k left of 81k originally

our Adjusted Gross income for 2012: 112K this will be higher next year since I'm gonna be a resident and she's making more money

WHY did I go to med school!!!!!