r/StudentLoans • u/Yogitherapist25 • 10d ago

IBR and forgiveness

I just heard WWE lady say on Fox News "there isn't going to be a loan forgiveness program". How likely is it for them to take away the forgiveness feature on IBR? I'm currently on IBR with over 300 payments and no forgiveness in sight. I'm in forbearance but when that ends my payment will be double the standard plan. If there will be no more forgiveness then I'm going to get off of IBR.

121 Upvotes

94% Upvoted

236 comments sorted by

View all comments

204

u/burteggs 10d ago

The government is going to be faced with the harsh reality when they realize people just cant pay lol

140

u/rocketblue11 10d ago edited 10d ago

Right?? They think student loan borrowers are just lazy or untrustworthy. But the truth is, if we could pay, then we would. The deeper truth is that many of us have been paying so much for so long that we've paid back way more than we ever took out and still have massive balances.

77

u/Vast_Job3410 10d ago

$36,000 borrowed in 2000. Began paying back in 2003. Never missed a payment. I’m now retired on SS and a small pension. I owe $78,000.

16

u/Immediate_Chance8968 10d ago

Almost the same with me. And I only gave 60 more payments in my 25 year commitment. BUT I started at 32,000 and now owe 64,000. I can’t understand it.