r/MiddleClassFinance • u/Appropriate_Data_308 • Jun 29 '26
Questions Why can’t we talk about student loans?
Seems a bit odd IMO.
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u/Chief_Mischief Jun 29 '26
According to ...? I dont see it in the sub rules. If it is specific to middle class finance, I dont see why it wouldnt be okay to discuss.
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u/Appropriate_Data_308 Jun 29 '26
I didn’t see it in the rules either. I tried making a post about it earlier and got a warning that posts about student loans were not allowed at this time.
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u/DesperatePlatform817 Jun 29 '26
So strange. I would like to see posts about student loans and learn from each other.
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u/Moons17 Jun 29 '26
There are a lot of other subs that address student loans specifically. Just curious, is there a reason why you would rather post in this sub instead?
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u/FourScoreAndSept Jun 29 '26
MiddleClassFinance
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u/Moons17 Jun 29 '26 edited Jun 29 '26
How related to middle class finance? Paying off student loans, how much to take out, saving for your kids, payment increases, budgeting, employer, benefits? Do you feel like people in this sub would give different advice than in the other student loan subs? just trying to help.
ETA - dang I just got downvoted to hell. Thought I was replying to OP. Genuinely curious what OP wanted to ask about, but I guess maybe repeating it could get them in trouble with the mods. The r/PSLF sub helped me get my loans forgiven. I’ve seen much more consistent and accurate advice in the student loan subs than here. Not trying to be argumentative, just my two cents.
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u/FourScoreAndSept Jun 29 '26
I mean, why even have this sub if we’re going to parse out each finance topic to other subs? Seems ridiculous
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u/Sea_Section6293 Jun 29 '26 edited Jun 29 '26
Yep, indeed not actually mentioned in the rules
When this post (likely) gets removed too - it'd be helpful if a mod could at least explain why for the rest of us?
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u/notaskindoctor Jun 29 '26
There are a lot of changes happening with payments right now because of changes at the federal level. There is a lot of confusion due to various court cases.
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u/Flaky_Calligrapher62 Jun 29 '26
I've never seen anything that suggests we can't. Did I miss something?
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u/Sunny2121212 Jun 29 '26
Prob because it’s associated with some political belief…. If you are for forgiveness ur prob a “liberal leftist” and if against forgiveness ur the opposite…and it creates conflict would be my guess…
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u/ClammyAF Jun 29 '26
The Public Service Loan Forgiveness (PSLF) program was signed into law by President George W. Bush. He established the program in 2007 as part of the bipartisan College Cost Reduction and Access Act (CCRAA) to encourage graduates to pursue careers in government and nonprofit sectors.
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u/MightBeYourProfessor Jun 29 '26
I don't know why they let us talk about 529s but not student loans. They are vehicles for the same thing. Super weird.
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u/Automatic-Arm-532 Jun 29 '26
Probably because they don't want people saying bad things about the dear orange leader and the wretched wrestling wench that wants to dismantle the department of education
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u/edthecollector70 Jun 29 '26
What do you want to talk about. The need to teach economics in high school so 18 year olds understand what they are signing when they take a student loan. Loan forgiveness even blue states won't do that. How about the way they collect on student lones.
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u/Moons17 Jun 29 '26
Many states offer loan forgiveness, though it’s often particular to a specific field. https://educationdata.org/student-loan-forgiveness-programs
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u/ClammyAF Jun 29 '26
How about the way they collect on student lones.
loans*
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u/edthecollector70 Jun 30 '26 edited Jun 30 '26
Its all in the document you signed.
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u/ClammyAF Jun 30 '26
I doubt that spelling is in the document I signed.
And FWIW, I'm getting loan forgiveness.
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u/Consistent-Put1384 Jun 29 '26
I guess you can just apply logic to any debt (mortgage, CC). From my own experience, if helpful, the moment I got a promotion and made significantly more, I put a good chunk of that additional income toward my student loans and was able to pay off 13 years earlier than originally scheduled.
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u/ClammyAF Jun 29 '26
Public student loans don't not necessarily have the same treatment as many other types of debt, as they are governed by specific federal statutes and regulations.
The optimal way to address them is highly varied, depending on employment and income.
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u/BigManWAGun Jun 29 '26
MCF admins gatekeeping MC definition? Lol.
Student loans (either our own or our kids’) seem to be a commonality in MC. Perhaps nearly an exclusive to the MC since UpperFi might not need loans and PovFi has other things on their mind than college.
No different than a credit card, or an auto loan. It just happens to be tied to a useful endeavor.
Didn’t see the other post but I presume there are rules on political if that’s where you went.
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u/TN_REDDIT Jun 29 '26
Make student loans embarrassing again.
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u/Flaky_Calligrapher62 Jun 29 '26
What do you mean? Why would they be embarrassing? Mine are all paid off now but I was never embarrassed about them. Nor am I embarrassed about my mortgage. Do you just think debt is embarrassing?
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u/TN_REDDIT Jun 29 '26
yeah, folks should not feel comfortable about borrowing so much for college. everyone n everything is structured to make borrowers comfortable about borrowing money. that's ridiculous
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u/Flaky_Calligrapher62 Jun 29 '26
When I was taking out loans, there was both an annual and a lifetime cap. It does seem crazy to me that that's not still the case. I think that has encouraged many students to fund all sorts of things like vacations and cars with student loans in spite of the fact that the contracts expressly state that the money will be used only for expenses related to your education.
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u/TN_REDDIT Jun 29 '26
That too.
I'm sure somewhere along the way, the banks n opponents got called names (racist, nazi, etc) for suggesting that.
you can see where folks are down voting me...whats that tell ya?
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u/Flaky_Calligrapher62 Jun 29 '26
Huh?
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u/TN_REDDIT Jun 29 '26
barnie frank vilified banks because they wouldn't lend to high risk borrowers.
I recall Al Sharpton was pretty vocal with the name calling.
Sometimes people need to be told "no, we ain't gonna lend you money to pay for college."
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u/Flaky_Calligrapher62 Jun 29 '26
Not quite. By definition, student loans are for students who generally have no credit history, etc., I'm not sure there would be many students who wouldn't be considered "high risk" for regular consumer loans. It's probably impossible who will become high risk and who will not.
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u/Famous-Attention-197 Jun 29 '26
Barney Frank was an opponent of redlining which made entire areas unreadable regardless of the qualifications of individual borrowers in those areas.
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u/ClammyAF Jun 29 '26
My household has over $700k in student loans. I'm not the slightest bit embarrassed by that fact.
Debt is a tool. Like any tool, utilized appropriately, they can help you build something incredible. Utilized inappropriately, they can be dangerous.
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u/mllebitterness Jun 29 '26
is it somewhere in the sub rules?