steve09ru Posted May 7, 2022 Share Posted May 7, 2022 (edited) 21 minutes ago, PeterMP said: Sounds you should have challenged yourself some more and taken some harder classes. 😉 Absolutely but that’s the mindset of most (at least the ones I’ve interacted with) But I think that also points to the problem of the type of classes we’re allowing people to take and charging a ridiculous amount through requirements Edited May 7, 2022 by steve09ru Link to comment Share on other sites More sharing options...
PleaseBlitz Posted May 11, 2022 Share Posted May 11, 2022 https://www.consumerfinance.gov/about-us/newsroom/cfpb-orders-scams-ringleaders-to-pay-more-than-8-million-to-consumers-and-student-loan-borrowers/ CFPB Orders Scam’s Ringleaders to Pay More Than $8 Million to Consumers and Student Loan Borrowers Quote Washington, D.C. – Today, the Consumer Financial Protection Bureau (CFPB) finalized an enforcement action against debt-relief payment-processors RAM Payment and Account Management Systems (AMS), as well as AMS’s co-founders, Gregory Winters and Stephen Chaya, for collecting debt-relief fees from consumers, lying to consumers about when the fees would be paid to debt-relief companies, and sending illegal advance fees to debt-relief companies before they were legally allowed to do so. They also failed to return funds to consumers who cancelled student-loan debt relief agreements, as required by law. The CFPB is ordering RAM Payment, AMS, Winters, and Chaya to pay more than $11 million in consumer redress and civil money penalties. “Too often, bad actors take advantage of student loan borrowers and others who are seeking to get out of debt,” said CFPB Director Rohit Chopra. “Our law enforcement action bans the facilitators and their ringleaders for their illegal acts.” Based in Knoxville, Tennessee, AMS and RAM Payment provided account maintenance and payment-processing services to about 270,000 consumers across the U.S. who were enrolled in debt relief programs. Winters and Chaya co-founded AMS. RAM Payment acquired AMS in 2019. After the acquisition, Winters and Chaya continued to manage AMS and RAM Payment, and they exercised substantial control over the companies’ business practices. Providers of account-maintenance and payment-processing services to debt-relief companies are supposed to be independent, third-party companies that hold fees until debt-relief companies are entitled to them under the law. The CFPB’s investigation found that the respondents violated the Telemarketing Sales Rule and the Consumer Financial Protection Act. The respondents substantially assisted student-loan and traditional debt-relief companies in requesting or accepting advance fees for debt-relief services, misrepresented their payment-processing actions to consumers before disbursing fees to student-loan debt-relief companies, and unfairly disbursed unearned fees for student-loan debt-relief services after consumers had unenrolled from or canceled the services. Link to comment Share on other sites More sharing options...
The Evil Genius Posted May 13, 2022 Share Posted May 13, 2022 This data doesn't seem to match the argument some have made here against forgiveness. 1 Link to comment Share on other sites More sharing options...
Cooked Crack Posted May 27, 2022 Share Posted May 27, 2022 1 1 Link to comment Share on other sites More sharing options...
PleaseBlitz Posted May 27, 2022 Share Posted May 27, 2022 Paging Joe Manchin.... Link to comment Share on other sites More sharing options...
Cooked Crack Posted July 26, 2022 Share Posted July 26, 2022 Link to comment Share on other sites More sharing options...
China Posted August 16, 2022 Share Posted August 16, 2022 Biden administration cancels $3.9 billion in student debt for 208,000 borrowers defrauded by ITT Tech The U.S. Department of Education announced Tuesday that it will cancel all remaining federal student debt taken on by borrowers who were defrauded by ITT Technical Institute since 2005, delivering $3.9 billion in relief to some 208,000 people. ITT Educational Services was at one point one of the largest operators of for-profit technical schools in the U.S., and shut down in 2016. Borrowers shouldn’t have to apply for the relief, the Education Department said. Click on the link for the full article 2 1 Link to comment Share on other sites More sharing options...
PleaseBlitz Posted August 16, 2022 Share Posted August 16, 2022 Glad they are getting their money back. Too bad they can't get their wasted years and effort back. Link to comment Share on other sites More sharing options...
Renegade7 Posted August 16, 2022 Share Posted August 16, 2022 Guess I'm basically obligated to get a Dark Brandon shirt now... 2 Link to comment Share on other sites More sharing options...
skinfan2k Posted August 16, 2022 Share Posted August 16, 2022 has anyone used facet wealth for financial planning? Link to comment Share on other sites More sharing options...
PleaseBlitz Posted August 16, 2022 Share Posted August 16, 2022 1 hour ago, Renegade7 said: Guess I'm basically obligated to get a Dark Brandon shirt now... https://onerockin.com/product/dark-brandon-premium-ss-t-shirt/?utm_source=GSP&utm_campaign=Copy one&utm_medium=GMC&utm_term=120013&gclid=Cj0KCQjwgO2XBhCaARIsANrW2X0T-4UrgWnCxp5xsb_NG7RD6gz4IcrG0AisUMWwxmGxBKuZroxkzB8aApJSEALw_wcB 1 Link to comment Share on other sites More sharing options...
Renegade7 Posted August 21, 2022 Share Posted August 21, 2022 On 8/16/2022 at 5:24 PM, PleaseBlitz said: https://onerockin.com/product/dark-brandon-premium-ss-t-shirt/?utm_source=GSP&utm_campaign=Copy one&utm_medium=GMC&utm_term=120013&gclid=Cj0KCQjwgO2XBhCaARIsANrW2X0T-4UrgWnCxp5xsb_NG7RD6gz4IcrG0AisUMWwxmGxBKuZroxkzB8aApJSEALw_wcB This is one I settled on, All Hail Dark Brandon!!! Can't wait to rock this at the gym... 2 3 Link to comment Share on other sites More sharing options...
Renegade7 Posted August 24, 2022 Share Posted August 24, 2022 (edited) Looks like $10k, but I did not know this, and I guess I get why that number kept popping up: Quote If his plan survives legal challenges that are almost certain to come, it could offer a windfall to a swath of the nation in the run-up to this fall's midterm elections. More than 43 million people have federal student debt, with an average balance of $37,667, according to federal data. Nearly a third of borrowers owe less than $10,000, and about half owe less than $20,000. The White House estimates that Biden's announcement would erase the federal student debt of about 20 million people. https://apnews.com/article/student-loan-forgiveness-biden-plan-d9c8e18774a744187c9af634bf4eb728 There was no way to make everyone happy on this one, biggest way to make up for it is to come after why College costs so much in the first place, imo. Edited August 24, 2022 by Renegade7 Link to comment Share on other sites More sharing options...
TradeTheBeal! Posted August 24, 2022 Share Posted August 24, 2022 Dank Brandon strikes again! 1 Link to comment Share on other sites More sharing options...
Forehead Posted August 24, 2022 Share Posted August 24, 2022 Did I read this correct, single earners under $125K or households under 250K? Link to comment Share on other sites More sharing options...
JamesMadisonSkins Posted August 24, 2022 Share Posted August 24, 2022 Just don't understand why the interest rate isn't being addressed. Criminal IMO that it's not 1-2% max. 4 1 Link to comment Share on other sites More sharing options...
The Evil Genius Posted August 24, 2022 Share Posted August 24, 2022 NSFW language below. Spoiler 2 Link to comment Share on other sites More sharing options...
Dan T. Posted August 24, 2022 Share Posted August 24, 2022 Link to comment Share on other sites More sharing options...
86 Snyder Posted August 24, 2022 Share Posted August 24, 2022 My wife and I both have some student debt remaining, around $50k combined I think, but we make too much money to qualify for the relief. Guess what? Im very happy today for every single person receiving relief while also being grateful for our own situation. See how easy that was? 4 2 1 1 Link to comment Share on other sites More sharing options...
Ball Security Posted August 24, 2022 Share Posted August 24, 2022 2 hours ago, Forehead said: Did I read this correct, single earners under $125K or households under 250K? So how does this work if the borrower is sub-$125k and the parents (>$250k) co-sign? Link to comment Share on other sites More sharing options...
PleaseBlitz Posted August 24, 2022 Share Posted August 24, 2022 27 minutes ago, 86 Snyder said: My wife and I both have some student debt remaining, around $50k combined I think, but we make too much money to qualify for the relief. Guess what? Im very happy today for every single person receiving relief while also being grateful for our own situation. See how easy that was? Same, word for word. https://studentaid.gov/debt-relief-announcement/ Quote How do I know if I am eligible for debt cancellation? To be eligible, your annual income must have fallen below $125,000 (for individuals) or $250,000 (for married couples or heads of households) If you received a Pell Grant in college and meet the income threshold, you will be eligible for up to $20,000 in debt cancellation. If you did not receive a Pell Grant in college and meet the income threshold, you will be eligible for up to $10,000 in debt cancellation. What does the “up to” in “up to $20,000” or “up to $10,000” mean? Your relief is capped at the amount of your outstanding debt. For example: If you are eligible for $20,000 in debt relief, but have a balance of $15,000 remaining, you will only receive $15,000 in relief. What do I need to do in order to receive loan forgiveness? Nearly 8 million borrowers may be eligible to receive relief automatically because relevant income data is already available to the U.S. Department of Education. If the U.S. Department of Education doesn't have your income data - or if you don't know if the U.S. Department of Education has your income data, the Administration will launch a simple application in the coming weeks. The application will be available before the pause on federal student loan repayments ends on December 31st. If you would like to be notified by the U.S. Department of Education when the application is open, please sign up at the Department of Education subscription page. 1 Link to comment Share on other sites More sharing options...
tshile Posted August 24, 2022 Share Posted August 24, 2022 (edited) I wasn’t going to say anything because I thought I’d spare everyone the umpteenth iteration of my rant on this. but I now have a new complaint, courtesy of my friend and his wife: he’s a crane operator, she’s an elementary school teacher. Well under the income cap, squarely middle class in the heart of northern Virginia. Because he took a tiny portion of their money over the years and worked the crypto markets, they’re over the cap. there really should be a carve out for investment income. You shouldn’t be punished on this policy because you managed to parlay a tiny portion of income into something worthwhile. just more evidence it’s a half-baked and poorly thought out idea that doesn’t actually address the problem - at all. But hey it’ll buy some votes also 😂’ing at the other friends in group chat (who have turned to the dems over the years and are anti-trumpers) cussing up a storm cause they’re slightly over the cap, with lots of student loan debt, swearing off the entire party platform 😆 Edited August 24, 2022 by tshile Link to comment Share on other sites More sharing options...
Forehead Posted August 24, 2022 Share Posted August 24, 2022 My wife and I are on the borderline, I think it depends on how they calculate income (pre/post SSN deductions, etc.) and even then, I'm still not sure. She got her financial aid filling out FAFSA forms but at some point, we refinanced from Navient to SoFi so I'm not sure if her loans being privately held matters. Clearly need to do some research. 1 hour ago, Ball Security said: So how does this work if the borrower is sub-$125k and the parents (>$250k) co-sign? Our issue is she (the borrower) makes under 125K but my work (thanks to OT) has us potentially over the household cap, and we file jointly. Link to comment Share on other sites More sharing options...
PleaseBlitz Posted August 24, 2022 Share Posted August 24, 2022 1 minute ago, Forehead said: My wife and I are on the borderline, I think it depends on how they calculate income (pre/post SSN deductions, etc.) and even then, I'm still not sure. She got her financial aid filling out FAFSA forms but at some point, we refinanced from Navient to SoFi so I'm not sure if her loans being privately held matters. Clearly need to do some research. As you know, I also refi'd with Sofi. Private loans are not eligible for relief, as I understand it. I figured this out as I was scheming to transfer my student debt to my wife and then file taxes separately next year. 4 minutes ago, tshile said: Because he took a tiny portion of their money over the years and worked the crypto markets, they’re over the cap. But see Cesarini v. United States Gross income means all income from whatever source derived, unless excluded by law. 2 Link to comment Share on other sites More sharing options...
TradeTheBeal! Posted August 24, 2022 Share Posted August 24, 2022 Oh geez, TCrypto and the crane operator. Its a story as old as time… Link to comment Share on other sites More sharing options...
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