Deep Thoughts

Everyone without (or paid off) college loans should get a free car.

Upvoted. The answer is 'Yes'; but only if you profess to hate everything about the United States of America like a good standard issue leftist.

good point, but they can keep it because I will never be a turncoat ...

Not how that works. They basically just say you don’t need to pay it back for forgiveness.

For tax purposes though I don’t believe it’s treated as taxable income.

If it’s through the save plan it’s just a hard cap on how much you pay In interest so as long as you make payments your balance never goes up.

Unlike the old days where I made on time payments for ten years and my balance went up.

Now thanks to Joe Biden and the save plan my loan balance is actually below what I borrowed after 2 years.

Unless it’s changed in the last week, the amount of loan forgiven IS treated as income and the servicer will send a 1099C that will require you to pay tax on the amount forgiven.

They should tax that amount at 20% to teach people that actions have consequences

Eh I’d take making payments to the IRS over Sallie Mae/navient/aidvantage or whatever they’ve changed themselves to this week.

Least they honor their agreements.

They borrowers didn’t HONOR their loan commitment, what makes you think they will pay the IRS?

What part of no missed payments for ten years did you not read? I honored my agreement navient/aidvantage didnt.

They/their is not a synonym for the word you

Do you seriously think that I’m the only borrower that hasn’t missed payments who got screwed by loan servicers?

I don’t know or care if you honored your commitment or not, but any borrowers that didn’t need to be held accountable, including never being able to borrow money again

So f**k the people who made their minimum payments and never missed one but somehow owed more then their balance after paying in somewhere around 1/4-1/2 the original amount?

Indentured servitude with no escape because you can’t declare bankruptcy on student loans but you can on credit cards?

Yep

Translation: The taxpayer pays and moochers skate.

No I still have to pay back my balance I’m just not paying as much as interest because loan management services can’t missallocate our payments like they used to under the save plan to maximize the interest on the life of the loan.

So much so they were doing it illegally.
For people who are forgiven it’s usually they are too broke to afford it or in most cases it’s usually because they entered public service like police, park management, social services such as getting the homeless off the street etc.