The SAVE plan and the rules around PSLF really do make medical school a lot more viable for people like me. Doctors get paid a pittance in residency, and the interest on medical school loans would add up really fast on the old income-driven repayment plans.
If I never step foot into a hospital again it’ll be too soon.
I work from home now as a cloud engineer for a large US-based mortgage company.
I’m very happy now. I’ve already made my piece that my $350,000 in loans can only be solved by making minimum payments for 20 years.
All that being said, a lot of people are in a different boat than myself.
Their loans are much more manageable and I’m really glad they’ll be able to pay them off because interest isn’t accruing.
Who knows? I make enough now that I’m actually going to have to sit down and calculate whether it’s worth it to pay the loans off myself or just make minimum payments for 20 years and have the rest forgiven.
The SAVE plan and interest no longer recruiting is the only reason these possibilities are there.
Otherwise I’d have to resign myself to making 20 years of minimum payments and hoping that forgiveness plan is still in place.
In terms of stuff leftists want, Obama overpromised and underdelivered, while Biden underpromised and overdelivered. I’m not sure he actually delivered all that much more than Obama did on an absolute scale, but when expectations ranged from “1994 crime bill guy” to “at least he’s not Trump,” pretty much any policy that manages to edge past mediocre is a pleasant surprise.
He’s been a better president than Obama was.
It’s not particularly close in my opinion.
I’m hella biased, but the SAVE plan and not accruing interest on student loans as long as you make payments is a huge win.
There’s no reason they couldn’t have done this under Obama…
Edit: just wanted to mention that this restructuring for student loans had absolutely nothing to do with Congress
The SAVE plan and the rules around PSLF really do make medical school a lot more viable for people like me. Doctors get paid a pittance in residency, and the interest on medical school loans would add up really fast on the old income-driven repayment plans.
Trust me I fully understand.
I went to med school, finished back in 2018.
If I never step foot into a hospital again it’ll be too soon.
I work from home now as a cloud engineer for a large US-based mortgage company.
I’m very happy now. I’ve already made my piece that my $350,000 in loans can only be solved by making minimum payments for 20 years.
All that being said, a lot of people are in a different boat than myself.
Their loans are much more manageable and I’m really glad they’ll be able to pay them off because interest isn’t accruing.
Who knows? I make enough now that I’m actually going to have to sit down and calculate whether it’s worth it to pay the loans off myself or just make minimum payments for 20 years and have the rest forgiven.
The SAVE plan and interest no longer recruiting is the only reason these possibilities are there.
Otherwise I’d have to resign myself to making 20 years of minimum payments and hoping that forgiveness plan is still in place.
In terms of stuff leftists want, Obama overpromised and underdelivered, while Biden underpromised and overdelivered. I’m not sure he actually delivered all that much more than Obama did on an absolute scale, but when expectations ranged from “1994 crime bill guy” to “at least he’s not Trump,” pretty much any policy that manages to edge past mediocre is a pleasant surprise.