Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News Editorials & Other Articles General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

General Discussion

Johnny2X2X

(24,456 posts)

17. income based repayments going from 10% to 5%!!!

Reply to brooklynite (Original post)

Wed Aug 24, 2022, 12:44 PM

Aug 2022

This will be AGI less expenses, moving from 10% to 5% if you have undergrad loans.

This is a total game changer!!! It halves the payments of anyone using Income based repayment options! Biden just solved the student loan debt crisis. I don't think the public fully gets what IBR methods are, they offer total forgiveness after 20 or 25 years. This means the forgiveness will be much higher for borrowers who owe the most.

Link to tweet

?s=20&t=DjFQtyYiiOzKIdH_N01sWw

Edit history

Please sign in to view edit histories.

Recommendations

0 members have recommended this reply (displayed in chronological order):

23 replies

= new reply since forum marked as read

Highlight:

BREAKING: President Biden to announce plan for student debt relief [View all] brooklynite Aug 2022 OP

To be followed shortly thereafter by Christofascist "welfare queen" level resentment and lawsuits. Thomas Hurt Aug 2022 #1

Already out... brooklynite Aug 2022 #2

Republicans are always ready to go after "the low hanging fruit" as in... Omnipresent Aug 2022 #7

And they'll keep doing it... regnaD kciN Aug 2022 #12

Write your dream down on a piece of paper... The Unmitigated Gall Aug 2022 #16

Great news! Haggard Celine Aug 2022 #3

My brother will be thrilled. Elessar Zappa Aug 2022 #4

This is a huge deal. Johnny2X2X Aug 2022 #5

Agreed, and I think it is very fair. emulatorloo Aug 2022 #9

I suspect there will be some who will complain that it isn't 50K or every 100%, and the CAP JohnSJ Aug 2022 #6

"Left" twitter will bitch about it, especially the upper class ones. emulatorloo Aug 2022 #8

Yes. I wonder how soon we will see that young voters treestar Aug 2022 #21

I hope not. Of course the republicans, per Bloomberg, are out there criticizing it, arguing JohnSJ Aug 2022 #22

This is welcome news. Of course, I strongly feel that those who paid off their loans should ColinC Aug 2022 #10

You won't. maxsolomon Aug 2022 #13

Why 2/3? Elessar Zappa Aug 2022 #14

Yes, 60 maxsolomon Aug 2022 #15

Student debt forgiveness lindalou65 Aug 2022 #11

income based repayments going from 10% to 5%!!! Johnny2X2X Aug 2022 #17

I think this significantly alters the course for November Sympthsical Aug 2022 #18

Getting out the vote is everything JohnSJ Aug 2022 #23

Good job, POTUS EnergizedLib Aug 2022 #19

I have been waiting for this. Renaissance Man Aug 2022 #20