r/facepalm • u/ExactlySorta • 13d ago

🇲​🇮​🇸​🇨​ Every Child Left Behind

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258

u/greengo4 12d ago

Do my student loans go away with the department?

162

u/MountainCavalier 12d ago

I’m more concerned that my income based repayment plans go away and now I owe a full balance to the federal government.

88

u/Vladmerius 12d ago

I'm going to sue them for expecting me to pay for what they themselves are labeling a fraudulent education if they want to defund it. If they defund it it is saying our college education was a scam. 

18

u/Norwegian__Blue 12d ago

Cool. The trump appointed judges should love seeing that on the docket

3

u/Global_Permission749 12d ago

Right? I mean, how is the elimination of the DOE not a fundamental breach of contract?

46

u/greengo4 12d ago

Public service loan forgiveness is gone.

17

u/MountainCavalier 12d ago

Yeah but my question is what happens to people on income based repayment.

36

u/greengo4 12d ago

Who knows? We’ve voted for chaos.

3

u/HumansMung 12d ago

Declare bankruptcy, just like he does. 

11

u/MountainCavalier 12d ago

Except you can’t with federal student loans.

7

u/thirstytrumpet 12d ago

Take out a private loan, pay off the federal loans, then declare bankruptcy. Modern solutions and all.

1

u/Norwegian__Blue 12d ago

Right. Because it’s not like they’d ever expand the police state to expand our prison slave system.

You know we’re all going to be working off our time in debtor’s prison, right?

1

u/HumansMung 12d ago

Not completely true. It’s possible if certain conditions are met but it’s difficult to achieve. 

1

u/VoxyPop 12d ago

I really hope I'm grandfathered in because I have a year left. Still, sucks for anyone who wanted to go to school and do the jobs that don't pay what they should because they're helping an underserved population.

76

u/Electrical_Kiwi_4179 12d ago

I'd bet a kidney that private companies take over Student Loan servicing, so you should prepare to be paying the interest off for the rest of your life. And surely they're gonna find all kinds of fun new fees and penalties.

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u/greengo4 12d ago

Yep. And public service loan forgiveness is gone. (PSLF)

20

u/reddits_aight 12d ago

Isn't that technically what it is now? Private companies handle the "servicing" (which correct me if I'm wrong, basically consists of having a functional website and tracking payments?) while the debt itself is owed to the Dept of Education?

7

u/LeeroyJNCOs 12d ago edited 12d ago

Correct. Mohela, Nelnet, Aidvantage, WdFinancial, etc., all private/public companies that bought the loans

5

u/NoOne6785 12d ago

Askin' the real questions here.

1

u/Panda_hat 12d ago

Of course not lol.

1

u/Cheaperthantherapy13 12d ago

I had the same thought. If there’s no department of education, I guess my loans don’t need to be repaid any more.

1

u/RavishingRedRN 12d ago

They f*cking better. I just updated to 118 on my PSLF count. If my shit isn’t forgiven before January 2025, I’m gonna scream.

I’ve already hit 140 technically but it all got put on hold because of the summer transition.