Trump administration quietly shutters online form for student debt repayment
dogslayeggs @ dogslayeggs @lemmy.world Posts 4Comments 1,517Joined 2 yr. ago
dogslayeggs @ dogslayeggs @lemmy.world
Posts
4
Comments
1,517
Joined
2 yr. ago
This is a huge topic in the veterinary community right now. They have multi-hundreds of thousands in loans and are on income-based repayment plans that take 20 years or more to pay back. Many are being told that they will be moved to a 10-year fixed repayment at the next review cycle.
Imagine going to school for 12 years, having $250,000 in ONLY school debt (ignoring any house/car debt). You are on a plan to pay off your debt based on how much you can actually afford, which for some is around $500-$800/month. Now, a new president comes in and says your effort to be financially stable and work towards the future is dumb, so pay it back at $2500/mo instead. You don't need a car or mortgage or childcare, right?