Oral Arguments about Student Loan Debt Forgiveness are happening at the SCOTUS today. While Bidden is confident, I am not. Not with this court. Bidden's whole defense is that no one can prove they were hurt, therefor the challenge should not exist.
In other Student Loan related stuff. I was looking up how you rehabilitate a defaulted federal loan. And they make this as hard as possible apparently. You can't do it online or over the phone. You have to either mail or fax all the forms. Get forms back, mail or fax them back. Electronic signatures are not accepted. So that means I can't use my apple pencil to sign a form and e-fax it. I would need to print everything and sign it. Then either scan to e-fax or mail. Thing is, my printer is so infrequently used it's print quality is shit as the ink is always either dried up or clogged.
They also require you to mail them a copy of your most recent tax return, so they can determent a repayment plan of 15% of your income, which they consider affordable. Issue for me is I also have private student loans who also want 15%, and they don't take those into consideration. So 30% of my income needs to go to student loans. Which is not financially possible for me living in a high rent area. Try to explain that to them on the phone and they just tell me about how I'm leaving above my means, and say I should look into relocating or getting a room mate. How I wish I could bitch slap a person every time they tell me I need to do that.
Oh, and btw, wage garnishments can continue or begin during the 10th month rehabilitation period and these garnishments do not count towards your required monthly payments to rehabilitate your loan. So, if you loans were already being garnished, they will resume being garnished as soon as the pause on payments ends. They can also start wage garnishments during the duration of the rehabilitation period once the pause ends and I think this would apply to me. As they took my February 2020 Tax return as a garnishment but hasn't hit wages yet.
The deadline to enter a rehabilitation program is apparently until the end of the pause of the student loan payment pause. Once that ends, there is no way to get a defaulted loan out of default. Only make repayment arrangements. So looking at all the info, It could take a couple months to process the rehabilitation and enter an agreement. And if that isn't completed by the time Bidden ends the pause, I'm SOL.
Guess I waited to long to find out that this was an option as it's not something that's been widely talked a bout during the student loan pause. I only found out about it from an article that brought up what are borrowers options.
In other Student Loan related stuff. I was looking up how you rehabilitate a defaulted federal loan. And they make this as hard as possible apparently. You can't do it online or over the phone. You have to either mail or fax all the forms. Get forms back, mail or fax them back. Electronic signatures are not accepted. So that means I can't use my apple pencil to sign a form and e-fax it. I would need to print everything and sign it. Then either scan to e-fax or mail. Thing is, my printer is so infrequently used it's print quality is shit as the ink is always either dried up or clogged.
They also require you to mail them a copy of your most recent tax return, so they can determent a repayment plan of 15% of your income, which they consider affordable. Issue for me is I also have private student loans who also want 15%, and they don't take those into consideration. So 30% of my income needs to go to student loans. Which is not financially possible for me living in a high rent area. Try to explain that to them on the phone and they just tell me about how I'm leaving above my means, and say I should look into relocating or getting a room mate. How I wish I could bitch slap a person every time they tell me I need to do that.
Oh, and btw, wage garnishments can continue or begin during the 10th month rehabilitation period and these garnishments do not count towards your required monthly payments to rehabilitate your loan. So, if you loans were already being garnished, they will resume being garnished as soon as the pause on payments ends. They can also start wage garnishments during the duration of the rehabilitation period once the pause ends and I think this would apply to me. As they took my February 2020 Tax return as a garnishment but hasn't hit wages yet.
The deadline to enter a rehabilitation program is apparently until the end of the pause of the student loan payment pause. Once that ends, there is no way to get a defaulted loan out of default. Only make repayment arrangements. So looking at all the info, It could take a couple months to process the rehabilitation and enter an agreement. And if that isn't completed by the time Bidden ends the pause, I'm SOL.
Guess I waited to long to find out that this was an option as it's not something that's been widely talked a bout during the student loan pause. I only found out about it from an article that brought up what are borrowers options.
Last edited:
