The Bright Coast

Progressive Thoughts from San Diego Alums on Law, Politics, and Culture

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.


2 Responses to “New Student Loan Cap”

  1. Jessie said

    That’s odd… I thought that a federal bill went through not too long ago that would forgive federal loans after 10 years of either working for the government or non-profit.

  2. brightcoast said

    My guess is that this applies to undergraduate debt, whereas the CC(C)RA (think that’s the correct acronym) applied to graduate school debt.

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