I, like many and hopefully some of y’all, stopped paying my student loans during Covid and never restarted paying because we’re supposed to have gotten relief from this debt that should’ve never existed in the first place. Now we have Trump coming back which kills the possibility of debt relief. So should I start repaying so I don’t get my wages garnished? Or do we think the government is going to be too inefficient to come after it?
Edit: At one point when I heard that it was the only way to get forgiveness, I moved all my debt from a third party to being a government loan. Does that change anything?
I would first call them and ask for forgiveness. If you were paying diligently and suddenly stopped they may accept.
does that ever actually happen
Yeah, seriously, it’s the US Government who lent us money, not Granny Sue from around the corner.
Yes.
Also, honestly, it does not hurt to ask ever. Like…ever.
If you cannot make a mortgage payment one month, for example, call and ask to get that month posted to the end of the the term of the loan.
If you call a CC company because you can’t pay that month, they can defer 1 month or will work with you.
Companies do not make money if you cannot pay, and, in the end, if you cannot pay they can write it off. Always, always, always best practice is to be communicative and proactive. They will not work with you if they have to chase you down.
Source: I’ve been through the fucking wringer a few times.
That’s one month, though. You seemed to be saying you could ask to get your entire debt forgiven. That ain’t happening.
If you re read what I wrote, I gave several examples of different scenarios.
Scenarios that may or may not apply, scenarios that me-being a complete internet stranger, you may not want to take at full value.
But if anything, please listen to this part: be proactive, communicative, and ask what can be done. That’s it.