Here’s some more context:
One is a federal loan, and two are bank loans. The bank ones been shifted around to different carriers, all without my permission, and those rates have slowly risen as I’ve made more money annually. I need to consolidate them, but I haven’t gotten around to it. The federal loan told me recently that I only have 5 monthly deferments left, so no matter what excuse I give, economic hardship/loss of job/etc., after those five months I have to pay no matter what.
Loan forgiveness already exists for the federal one, but you either have to teach in the inner city or join the military or whatever…
I am privileged enough to have my family’s support in some of them. So, in reality, I used to owe much higher. When my Dad passed, he stated in his will that he wanted some of the insurance money to pay for at least one of them, but we haven’t worked that out yet.
Part of me wonders if I should wait to see who becomes elected in 2020 before I make any big moves in that regard. But I just know this idea is going to be stripped by the GOP to offer something much lower, or have some kind of catch.
I’m also wondering if that money Warren is offering would be specific to Federal loan debt, or could it apply to banks. You can bet your ass that if she starts getting support, the banks are going to start shifting their ‘student loans’ to a more general sounding name.
“These aren’t student loans. They’re regular loans.” Is the excuse I bet we’re going to see.