How much student debt was cancelled for you or someone you know?

[QuarterMillionMan]

My coworker $10,000 cancelled, his wife $80,000. I work in big government and overheard others as well. Often we get interdepartmental emails about how to apply but I delete it in disgust.

[kork13]

Honestly, I haven't heard much about this from anyone in my circles. I'm sure some of them still have student debt, and maybe some of them even got some of it cancelled. But nobody has discussed it much.

The only related issue I've heard discussed occasionally is the Public Service Loan Forgiveness program ... military service qualifies for it, so I do know a few folks who have gotten some student loans forgiven that way ... though for many, after paying on their loans for 10 years, their loans ended up paid off in full on their own, before even qualifying for the PSLF. I think you have to use the (lower-dollar) income-based repayment plan to really end up with much left after 10 years of consistent payments. Gratefully, I never had student loans myself ... So I'm not totally certain how those all work. In this particular case, I'm happy to be so ignorant.

[disneysteve]

I believe most of the forgiveness program addressed public service people, income based repayment people, and people who got defrauded by shady schools that shut down before they completed a degree. I’m okay with all of that. I don’t know of anyone personally who benefitted but I’m no longer of an age where my peers are still dealing with this.

[ua_guy]

Nobody that I'm aware of in my circles. For the current forgiveness reasons stated, I'm also OK with it, even though I will never need it myself.

[LivingAlmostLarge]

i know quite a few who did public service forgiveness. three doctors/dentist/lawyer and 2 teachers. Thank you for doing it I say. Good for them. I don't know any IBR though yet. The public service is actually a great way to get it forgiven

[disneysteve]

i know quite a few who did public service forgiveness. three doctors/dentist/lawyer and 2 teachers. Thank you for doing it I say. Good for them. I don't know any IBR though yet. The public service is actually a great way to get it forgiven

I looked into public service forgiveness when I got out of school. The problem was the salary at those jobs was so much lower than in the private sector, even with the loan forgiveness I still would have lost money in the end.

[QuarterMillionMan]

Jesus it’s like smash & grab robberies, we’ll all end up paying for those forgiven loans.

[QuarterMillionMan]

And we’re all complaining About inflation being high. We haven’t seen how bad it could become with more freebies.

[Fishindude77]

I'm just waiting patiently to get the federal check to reimburse us for all the $$ we spent on our kids college.
Assume that will be showing up any day?

[FrostedMoose]

nothing is being forgiven. its being transferred to tax payers.

[QuarterMillionMan]

Thank you Moose gets it.

[bjl584]

None for me and none for anyone that I know.
My loans were paid off well before all this talk of forgiveness started.

[Drake3287]

This topic makes my blood boil, my wife and I worked and saved for 25 years to pay cash for our 3 kids to go to college, and no we're not wealthy, just average working class Americans who did without for 25 years just to make sure our kids were college educated. Anyone who volunterrly took college loans should be required to pay them back just like any loan. This whole forgiveness program was simply to buy votes and nothing else.

[ua_guy]

Probably wasn't a ploy to buy votes, just sayin'. Not like they were going to change sides.

[myrdale]

Thank you Moose gets it.

He is 100% correct.