New Student Loan Cap
Posted by brightcoast on January 27, 2010
Some info here. It would basically lower the amount of your discretionary income allocable to student loan payments, as a percentage of the poverty level, and would forgive governmental loans after 20 years, rather than 25. What is not clear is whether this only applies to a particular sort of job, e.g. governmental or nonprofit–in which case it doesn’t really change too much for those who are unable to secure those jobs in the first place, e.g. those of us who have applied to certain non-profit agencies and received no response, or have been told that certain non-profit agencies are only hiring “volunteer” (i.e. unpaid) attorneys at this time. If it does, however, apply to anyone with student loans in any sort of job, then this is potentially major news…
By the way, still have not received my Bar Study Loan, way to go Sallie Mae. I called them today to no avail. It must really be hard working there, such a challenging task. I look forward to talking to you again ten more times.