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Step 1: get student loans to get the education that allows you the opportunity to make more money.
Step 2: make the same amount of money as before you earned your MBA for the next few years, because “you have the degree, but not the experience”, preventing you from paying down any principal or interest on your student loans.
Step 3: finally make the money you deserve and have worked so hard for. You can now begin to try to tackle the astronomical undergraduate and graduate student loan balances you’ve accrued.
Step 4: forgiveness is here! Oh wait, you make too much money… no forgiveness for you.

I’m not saying I want a freebie or a handout. That would diminish the value of the education I earned and acquired from a school I’m proud to be connected with.

… but can we just eliminate all student loan interest?

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Yep, I completely agree with all of this. In Canada, they have eliminated interest on federally funded student loans (for now, until the government flips to conservative I imagine).

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There’s so much flying around right now…Biden administration trying to make something happen to fulfill campaign promises=votes in the next big election. I will believe it when I see it. I just hope something gets resolved, because it could all get wiped away by some of these folks who don’t care about this issue! Best wishes to all!

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I really hope people remember all of the broken promises come November!

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He has done for so many, but nothing that impacts me. Like seriously?

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Unfortunately, this myth of more education, higher pay works out for many and it definitely helped me —getting an MBA. I finished my education in my 40’s so it definitely doesn’t give you the bang for your buck like doing it when you are young! I have 5 more months left after 10 years of public service and I just pray it all works out to clear $72k for me eventually!!! Especially since I just was laid off and have to continue working at a nonprofit for 17.00 an hour until this is done! (30 hours a week)!

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For those who want to read the whole story.
https://www.npr.org/2022/08/24/1118879917/student-loan-forgiveness-biden

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Additional Posts in Student Loans

If you didn't have to pay off any more of your student loans what would you use the money for instead? I'm stuck between something impractical like a trip somewhere or something I need like a new car lol

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If you could go back in time what would you tell yourself before taking out student loans?

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In a perfect world how much would you want to make a year to both pay off your loans and live a good life? I think I'd need to make upwards of $200k to pay off my loans, take care of my family and live a fulfilling life.

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