Another Month of Student Loan Relief!

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Don’t scare me that 2020 continues into next month.
 
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Wouldn't be surprised to see it extended through 2021 if they can't get a stimulus passed. I wonder how many people are still refinancing their loans after this lol
 
You're probably going to have nutjob militias from Parler attempt to overthrow the government, too. So we got that to look forward to.

Why would they want to overthrow the gov when we have a perfectly normal president-elect.


- Seriously Serious (he/his/pecan pie)
 
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Serious question - have people still been making payments during this forbearance period? I plan to pay off my loans asap but I also want to take advantage of this no interest and no obligation to pay opportunity to save up. It seemed like the most logical thing to do but I've talked to some rphs lately and they're still making payments. I'm like wtf but why now of all times
 
Wouldn't be surprised to see it extended through 2021 if they can't get a stimulus passed. I wonder how many people are still refinancing their loans after this lol
I was hoping they would do until June or end of 2021.
 
Serious question - have people still been making payments during this forbearance period? I plan to pay off my loans asap but I also want to take advantage of this no interest and no obligation to pay opportunity to save up. It seemed like the most logical thing to do but I've talked to some rphs lately and they're still making payments. I'm like wtf but why now of all times

Been holding off loan payments and putting it all towards savings for a house.
 
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Why would they want to overthrow the gov when we have a perfectly normal president-elect.


- Seriously Serious (he/his/pecan pie)

Yea dude every time I get out of the shower I immediately run around the house after my dog until I fall over reaching for his tail as he runs away.

I thought it was totally normal.
 
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You're probably going to have nutjob militias from Parler attempt to overthrow the government, too. So we got that to look forward to.

I heard that thing is getting overrun with porno bots :lol: I’m expecting lads in leather chaps marching down Penn. Ave on January 20th
 
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Serious question - have people still been making payments during this forbearance period? I plan to pay off my loans asap but I also want to take advantage of this no interest and no obligation to pay opportunity to save up. It seemed like the most logical thing to do but I've talked to some rphs lately and they're still making payments. I'm like wtf but why now of all times

Since I’m aiming for PSLF, it makes no sense to pay since I’m getting payment credit.

Someone who is looking to pay down loans, assuming they’re good everywhere else financially, would do well to pay down their balance.

Most new pharmacists would be better off banking the money — savings or house down payment.

It actually would be detrimental to refinance to a private loan because the laws/orders basically made federal loans automatically the best student loan deal for 9+ months and still going. I feel bad for anyone who refinanced in the 3-6 months before March 2020.
 
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I was hoping they would do until June or end of 2021.

I’m financially planning for an extension through June/July, but some factions want it until the fall/early winter 2021.

For 18 months to be knocked off PSLF for me would absolutely be gravy!
 
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I’m financially planning for an extension through June/July, but some factions want it until the fall/early winter 2021.

For 18 months to be knocked off PSLF for me would absolutely be gravy!
No kidding. I actually took the savings and put it towards a 1.5 acre lot on a small lake. Give me another free year and I might start building a cabin.
 
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Well, if anything good came from COVID-19, it has been student loan payment freezes...took this chance to finally upgrade my place and auto (haven't done so since graduating...hand me downs only last so long). Back to the grind for 2021 (debt just doesn't disappear). I'm just about done spending...all that's left (major) is phone + tablet upgrade (decade old technology)
 
Serious question - have people still been making payments during this forbearance period? I plan to pay off my loans asap but I also want to take advantage of this no interest and no obligation to pay opportunity to save up. It seemed like the most logical thing to do but I've talked to some rphs lately and they're still making payments. I'm like wtf but why now of all times
Since forbearance started, I've been making $1,000/week payments on my loans. I just recently stopped because of the possibility of 10-50k in loans being canceled through executive order/public service.
 
This whole thread is the case for why student loan bailouts should be capped like at 20k

tbf though I would do the same (not pay anything) if I graduated in 2016 and had no chance of clearing loans in 3 yrs
 
This whole thread is the case for why student loan bailouts should be capped like at 20k

tbf though I would do the same (not pay anything) if I graduated in 2016 and had no chance of clearing loans in 3 yrs
I generally agree (though I actually think maybe tuition and loans also need to be capped), but I also suspect student loans are a big drag on our consumer economy.

If somebody’s loans get forgiven and I paid mine off myself, I’m not going to begrudge them their luck. Some of my coworkers are drowning. I’m happy they’ll hopefully get PSLF.
 
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Serious question - have people still been making payments during this forbearance period?
I have been but not nearly as aggressively. Before forbearance I was paying about $3500 monthly, now I've been paying around $1000 and saving the rest. My plan was to build up for a house down payment but I'm debating still throwing it all at my loans anyway.

I figure it doesn't really cost me anything to hold onto the money while interest is set at 0 and it's in a bank account that I dedicated to paying down debt so I'm not tempted to spend it on something dumb.
 
Hell, QoL improvements have been amazing lately (from spending on upgrading rather than student loans). I have no plans in the near future of buying a house nor do I have a family to worry about...been passive in paying off loans because I'm in this for the long run. QoL improvements have made my life so much less stressful to balance out retail/"community" pharmacy life....after being overnight/new graduate for 5 years. Feel like a new beginning/era for myself being a daytime RPh now (I'm grateful for how my fate turned out getting axed from overnights)

Quality Sleep, Nutrition, Exercise...the big 3 to stay healthy and happy. No one is perfect, but a little effort in each domain pays off in the long run
 
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Hell, QoL improvements have been amazing lately (from spending on upgrading rather than student loans). I have no plans in the near future of buying a house nor do I have a family to worry about...been passive in paying off loans because I'm in this for the long run. QoL improvements have made my life so much less stressful to balance out retail/"community" pharmacy life....after being overnight/new graduate for 5 years. Feel like a new beginning/era for myself being a daytime RPh now (I'm grateful for how my fate turned out getting axed from overnights)

Quality Sleep, Nutrition, Exercise...the big 3 to stay healthy and happy. No one is perfect, but a little effort in each domain pays off in the long run


My biggest financial advice that I give my kids whenever we talk about finances is to buy a home as early as possible, stay put and pay into that home for as long as possible, and contribute even a small amount to 401k. If you can start this as the age of 20 - you are good to go.

Anyways - that was my rant to your comment about not buying a home. Home ownership is such an important investment to start as early as possible.
 
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My biggest financial advice that I give my kids whenever we talk about finances is to buy a home as early as possible, stay put and pay into that home for as long as possible, and contribute even a small amount to 401k. If you can start this as the age of 20 - you are good to go.

Anyways - that was my rant to your comment about not buying a home. Home ownership is such an important investment to start as early as possible.
Yeah, just bury yourself in debt to the point of contemplating suicide. Great advice (sarcasm), LOL

My biggest financial advice, stress management advice, and time management advice is to not have a kid(s), LOL
 
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My biggest financial advice that I give my kids whenever we talk about finances is to buy a home as early as possible, stay put and pay into that home for as long as possible, and contribute even a small amount to 401k. If you can start this as the age of 20 - you are good to go.

Anyways - that was my rant to your comment about not buying a home. Home ownership is such an important investment to start as early as possible.

i have to be wary about the “staying put” part in your 20s. If your kids and kid-free and job opportunities arise in different geographic areas, they would be spending dollars to chase pennies if they were to stay put because of that albatross of a house.

i also think they shouldn’t contribute “a little” to 401k, they should contribute a LOT — better yet, in a Roth while they qualify. I started at 22 in a Roth and am happy with it, makes me wish I started earlier at 16. My goal is to do a 1:1 “match” with future teenager kid who works.

anyway, re: house of course they could rent it out and move, but being a landlord isn’t a walk in the park, either (been there, done that, no thanks - hire a property mgr). Plus, it’s one more barrier.

Homes are tax advantaged savings vehicles, but they also track inflation over the long term. Your most valuable and highest performing asset is yourself, best not to hobble it early (that’s what marriage and kids are for!)
 
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i have to be wary about the “staying put” part in your 20s. If your kids and kid-free and job opportunities arise in different geographic areas, they would be spending dollars to chase pennies if they were to stay put because of that albatross of a house.

i also think they shouldn’t contribute “a little” to 401k, they should contribute a LOT — better yet, in a Roth while they qualify. I started at 22 in a Roth and am happy with it, makes me wish I started earlier at 16. My goal is to do a 1:1 “match” with future teenager kid who works.

anyway, re: house of course they could rent it out and move, but being a landlord isn’t a walk in the park, either (been there, done that, no thanks - hire a property mgr). Plus, it’s one more barrier.

Homes are tax advantaged savings vehicles, but they also track inflation over the long term. Your most valuable and highest performing asset is yourself, best not to hobble it early (that’s what marriage and kids are for!)

Sure - I just try to keep it simple is all. When I was 20 yo (year 2000) I was contributing 30 dollars every 2 weeks to a 401k and it’s has paid huge dividends over time.
 
I told all my kids that any dollar they earn now I would match dollar for dollar in a Roth IRA. That should out them on a very good start.

Young people should generally not be buying homes, the world has changed and young people tend to move around a lot more geographically as their careers progress. If they're interested in real estate or renting then it's fine but otherwise it's a huge distraction not to mention sweat equity. I'm with confettiflyer on this, max 401(k) and IRA first -- you can always take a 401(k) loan or an IRA exception to fund a down payment later on a house.
 
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So the alternative to buying a house is renting or being homeless, right? How often would you have to move to make renting worthwhile? Plus don't you have to break a lease if you need to move for a job anyway?

Those are rhetorical questions, I realize there are all kinds of articles about renting vs owning. You can always sell a house if you need to move or better yet rent it out with a property manager. I suspect in most cases owning makes more sense.
 
Yeah, just bury yourself in debt to the point of contemplating suicide. Great advice (sarcasm), LOL

My biggest financial advice, stress management advice, and time management advice is to not have a kid(s), LOL


Spoken like a true kid who thinks he/she knows better. Was just tying to be nice and open conversation is all... You got some growin’ up to do youngin’! Haha jk! (Sarcasm) laf! LOL

Btw - I have 5 kids all under the age of 12, and a top shelf wife that loves me dearly (she had all of our 5 kids, I feel like I need to confirm this in our modern society. She wants more too but I’m tapped out now). If you think that minimizing your relationships and minimizing your contact with kids will reduce your stress, your going about it wrong. I play dnd with my kids, movies, board games, video games, so much fun - if you actually appreciate and enjoy them, they are not a stress, they are a means of purpose and joy. Are they a financial burden? Hell yes - but if you love them right, they are not a stress.
 
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So the alternative to buying a house is renting or being homeless, right? How often would you have to move to make renting worthwhile? Plus don't you have to break a lease if you need to move for a job anyway?

Those are rhetorical questions, I realize there are all kinds of articles about renting vs owning. You can always sell a house if you need to move or better yet rent it out with a property manager. I suspect in most cases owning makes more sense.
Most young people cannot take advantage of itemizing deductions so mortgage interest and property tax deductions are not available. Selling a home is in most cases a 6% real estate agent commission plus the uncertainty of whether a buyer's mortgage will be approved, appraisal comes in at the sales price, etc.

I think it would be wiser for a young person to invest the down payment and rent. You can always sublet if you want to recover some portion of your lease or just consider it a sunk cost.
 
Spoken like a true kid who thinks he/she knows better. Was just tying to be nice and open conversation is all... You got some growin’ up to do youngin’! Haha jk! (Sarcasm) laf! LOL

Btw - I have 5 kids all under the age of 12, and a top shelf wife that loves me dearly (she had all of our 5 kids, I feel like I need to confirm this in our modern society. She wants more too but I’m tapped out now). If you think that minimizing your relationships and minimizing your contact with kids will reduce your stress, your going about it wrong. I play dnd with my kids, movies, board games, video games, so much fun - if you actually appreciate and enjoy them, they are not a stress, they are a means of purpose and joy. Are they a financial burden? Hell yes - but if you love them right, they are not a stress.
Different strokes for different folks is all
 
You're probably going to have nutjob militias from Parler attempt to overthrow the government, too. So we got that to look forward to.
I wanna see olympus has fallen become reality. I know several ex-navy seals just waiting for rioters to come to their towns. Ex-navy seals with itchy trigger fingers... lol
 
I wanna see olympus has fallen become reality. I know several ex-navy seals just waiting for rioters to come to their towns. Ex-navy seals with itchy trigger fingers... lol
99.99% of people claiming to be ex navy seals are lying. The odds of someone knowing *a* navy seal is low. The odds of someone knowing multiple navy seals is really, really unlikely.
 
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Also would highly doubt a seal would be trigger happy. Especially against civilians
 
99.99% of people claiming to be ex navy seals are lying. The odds of someone knowing *a* navy seal is low. The odds of someone knowing multiple navy seals is really, really unlikely.
Eh, I would argue that if you know one navy seal your odds of knowing multiple navy seals increases. After all what are the odds you only know one navy seal? If mean if you are a navy seal you know tons of navy seals. So if you know a navy seal you only need to know one of that person's navy seal friends to know two. If they have a poker night or play COD together or whatever then boom you know a bunch. Suppose you work at a VA or something and your odds of not knowing multiple navy seals probably approach zero.
 
Eh, I would argue that if you know one navy seal your odds of knowing multiple navy seals increases. After all what are the odds you only know one navy seal? If mean if you are a navy seal you know tons of navy seals. So if you know a navy seal you only need to know one of that person's navy seal friends to know two. If they have a poker night or play COD together or whatever then boom you know a bunch. Suppose you work at a VA or something and your odds of not knowing multiple navy seals probably approach zero.


This is true. And as we all know, our patients regularly share with us their plots of sedition and murder.
 
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I wanna see olympus has fallen become reality. I know several ex-navy seals just waiting for rioters to come to their towns. Ex-navy seals with itchy trigger fingers... lol

Ex-Navy Seals waiting for pro-Trump rioters? Or Ex-Navy Seals waiting for anti-police protests?

Most military people I know are anti-police and think that cops don't deserve to have the budgets and arsenals that I do. They believe that the cops are infringing on those freedoms that the soldiers feel they are out there protecting.
 
wtf, what is it about student loan threads bringing all kinds of wacky jacks in here.

Don’t make me bring out the pineapple pizza debate again. That topic is an express train to thread lock.
 
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Seems like Schumer is still pushing for the 50k instant forgiveness via executive order.

I wonder how they come up with these numbers? Biden seems focused on 10k.
 
Ex-Navy Seals waiting for pro-Trump rioters? Or Ex-Navy Seals waiting for anti-police protests?

Most military people I know are anti-police and think that cops don't deserve to have the budgets and arsenals that I do. They believe that the cops are infringing on those freedoms that the soldiers feel they are out there protecting.
Ex-Navy Seals who are waiting for rioters. Not sure if they're trump supporters or not but a friend of mine is ex military and met with his buddies recently and overheard them talking about it. Not sure how they felt about the police though.
 
99.99% of people claiming to be ex navy seals are lying. The odds of someone knowing *a* navy seal is low. The odds of someone knowing multiple navy seals is really, really unlikely.
Somewhat true. I happened to be friends with a guy that knows a few.
 
Eh, I would argue that if you know one navy seal your odds of knowing multiple navy seals increases. After all what are the odds you only know one navy seal? If mean if you are a navy seal you know tons of navy seals. So if you know a navy seal you only need to know one of that person's navy seal friends to know two. If they have a poker night or play COD together or whatever then boom you know a bunch. Suppose you work at a VA or something and your odds of not knowing multiple navy seals probably approach zero.

P(knowing a Navy Seal) = P(knowing a Navy Seal | if you were ever a Navy Seal) x P(if you were ever a Navy Seal) + P(knowing a Navy Seal | if you were never a Navy Seal) x P(if you were never a Navy Seal)
 
Ex-Navy Seals who are waiting for rioters. Not sure if they're trump supporters or not but a friend of mine is ex military and met with his buddies recently and overheard them talking about it. Not sure how they felt about the police though.

"Waiting for rioters/protestors to invade my tiny town in the middle of nowhere so I can shoot them" is such a strange and perverse fantasy these days. It's right up there with the fantasy of fighting a civil war to protect your guns when the Democrats finally enact martial law. There's probably healthy overlap with the same group who perpetually think the current Democratic president is the anti-christ and that the COVID vaccine is the mark of the beast.
 
"Waiting for rioters/protestors to invade my tiny town in the middle of nowhere so I can shoot them" is such a strange and perverse fantasy these days. It's right up there with the fantasy of fighting a civil war to protect your guns when the Democrats finally enact martial law. There's probably healthy overlap with the same group who perpetually think the current Democratic president is the anti-christ and that the COVID vaccine is the mark of the beast.
Well, I do not take a political side nor do I want to have a political discussion with anyone other than my wife but I am for sure against any type of vandalism and destruction of businesses. I can see how people can get angry over these events and try to take matters into their own hands if they have the ability to. Especially when the government sits idle and let their own city burn.
 
Eh, I would argue that if you know one navy seal your odds of knowing multiple navy seals increases. After all what are the odds you only know one navy seal? If mean if you are a navy seal you know tons of navy seals. So if you know a navy seal you only need to know one of that person's navy seal friends to know two. If they have a poker night or play COD together or whatever then boom you know a bunch. Suppose you work at a VA or something and your odds of not knowing multiple navy seals probably approach zero.
for what it is worth - I know exactly one navy seal.
He is a pretty cool guy- not some nut job who is going to go shoot up the place. Honestly, the self control you have to have to be a navy seal almost would preclude you from being one of those types of nut jobs. An EX navy seal (read - get kicked out for being crazy) is a whole other story
 
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for what it is worth - I know exactly one navy seal.
He is a pretty cool guy- not some nut job who is going to go shoot up the place. Honestly, the self control you have to have to be a navy seal almost would preclude you from being one of those types of nut jobs. An EX navy seal (read - get kicked out for being crazy) is a whole other story
They weren't talking about some random shoot outs. We were watching the news about the riots and we were all getting upset about how those business owners were defenseless. One had mentioned how he wouldn't hesitate to defend his neighborhood if no help (police) came to help.
 
Seems like Schumer is still pushing for the 50k instant forgiveness via executive order.

I wonder how they come up with these numbers? Biden seems focused on 10k.

It just boils down to a) at what point does it become a legal challenge and b) how many people will it affect?

The only limit I can think of is the Sec. of Educ.’s compromise authority under HEA, the statutory limitation is $1M before a referral to the DOJ, but even that is questionable and relies on other areas of federal law not specifically held forth in the HEA.

Biden probably has a more conservative read on Congress and thinks anything more than $10k *should* get congressional authorization.

IMO the Secretary’s compromise powers are explicit and unlimited.
 
Well, I do not take a political side nor do I want to have a political discussion with anyone other than my wife but I am for sure against any type of vandalism and destruction of businesses. I can see how people can get angry over these events and try to take matters into their own hands if they have the ability to. Especially when the government sits idle and let their own city burn.
Regardless of politics, it is just a silly fantasy because it isn't going to happen.
 
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