Related Posts
Roth vs Traditional 401k, thoughts?
More Posts
Need more people here!
Additional Posts in Personal Investment Chatter
Finally, eligible to buy T$LA 😁

New to Fishbowl?
Download the Fishbowl app to
unlock all discussions on Fishbowl.
unlock all discussions on Fishbowl.





Chief
I would not count on loans being forgiven until it actually happens
Bowl Leader
Campaign promises don't always become realities. They may prioritize additional stimulus payments over student loan reductions and consider that killing two birds with one stone.
Also note Trump, Obama, and Clinton lost the house at the first midterm, so Biden may only have two years to push through their agenda and/or take a more moderate approach to try to break this trend.
Conversation Starter
Darn C1 - I would’ve voted for you. You would’ve then crushed me! How dare you
I haven’t been paying my student loans since March because of stimulus plan. Since they don’t accrue interest during this period the money is being used for investing.
I’m sure Chuck Schumer will try to push this through but there will definitely be income limits. And it most likely will not be over $50k.
I’m doing minimum payments when required. Hopefully we will know soon if they are pursuing this
There’s likely specific cases that will get funds which consultant types probably don’t qualify for but I’m just paying minimum in case something unexpected happens. Federal loans have a low rate when not at 0% due to covid
here's a wacky thought - when you took the loan you promised to pay it back - so pay it back
So when federal student debt is cancelled you’re gonna say no thank you?
I would be pretty shocked if loans were completely forgiven. If anything it seems more likely a percentage or fixed amount of your loan may be forgiven, but even that is being optimistic most likely.
I’m personally just paying in a little bit right now to take advantage of no interest, but putting more in investments.
Biden has said multiple times he supports loan forgiveness as a legislative solution and not by executive order. Given that - I think he strongly believes the whole system needs to be reformed through Congress - otherwise we're going to be back here in 10 years with the next generation of kids if he just EOs mass forgiveness.
I'd expect Biden to continue 0% interest and a suspension of payments for at least the next 18 months by EO but I don't believe he will ever get forgiveness through Congress.