I doubt they would want to anger that large of a portion of their base (not by dissolving the department of education, but by doing so without a plan for all the current college students in the country to finish school.)
But maybe they really aren’t smart enough to figure that out. I bet medical students will be fine. But maybe our already abysmally high interest rates will get even more insane
The issue is that a very large portion of their base did not pursue higher education. In and of itself there’s nothing wrong with that. The issue is that these people have no clue how student loans work. They think that we’re all trying to get out of our loans and that it’s their tax dollars paying for it.
The issue- interest and promised loan forgiveness. I have loans at 6.5 % interest. I have excellent credit and was actually going to refinance but then the interest pause occurred
Anywho my interest rate is based solely on the year when I happened to get the loans. 6.5% is outrageous. People are whining about mortgages- this is largely ignored.
So loan forgiveness. I started on IBR which did not even cover interest .. while PSLF was dangled before me. 200k ballooned to 250 k. Had there been no PSLF- I’d have payed more and interest would not have ballooned. So now my loan balance is higher because I paid less because of PSLF.
So- I’m one of the Evil People who was working towards loan forgiveness. You know- one of the people who doesn’t take responsibility for her own loans/ finance.
The base thinks we’re all a bunch of scammers and doesn’t understand the actual issues.
We would solve so. many. problems if we simply kept interest lower.
I wound up abandoning my quest for PSLF.., I viewed it as a gamble. I took a higher paying job - not at a nonprofit.
I was ABOUT to refinance to a lower interest rate when Trump decided to revamp everything. Because of the general incompetence my loan is on administrative forbearance. It is not gathering interest right now.
So by trying to get rid of income based payments and loan forgiveness to make his base happy- he’s created a royal mess and I now have basically an interest free loan.
This includes the life and times of a bipolar MD. The blog was started when I was in medical school- the previous title was Highs and Lows Bipolar in Medical School. I'm changing the focus of the blog but keeping old posts
bipolarinmedschool.blogspot.com
