Lamar Alexander proposes mandatory wage garnishment for student loans
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  Lamar Alexander proposes mandatory wage garnishment for student loans
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Author Topic: Lamar Alexander proposes mandatory wage garnishment for student loans  (Read 1379 times)
JG
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« Reply #25 on: February 21, 2019, 09:09:52 AM »

I thought you all yearned for the good 'ole days of the benevolent GOP establishment? I thought Trump was the bad guy Roll Eyes

Because you think Trump would vetoe that billif it passed  or comes out against it?

The whole GOP is absolute scum and morally bankrupt.
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I Will Not Be Wrong
outofbox6
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« Reply #26 on: February 21, 2019, 12:29:51 PM »

And I always admired this guy.
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Santander
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« Reply #27 on: February 21, 2019, 12:32:37 PM »

What are student loans? I'm Asian so I never had them. Tears of joy
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Sprouts Farmers Market ✘
Sprouts
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« Reply #28 on: February 21, 2019, 01:04:37 PM »

Hopefully this reduces rents by getting all those migrants from hick country out of here.
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MasterJedi
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« Reply #29 on: February 21, 2019, 01:41:32 PM »

Republicans really want to double down on losing Millennials and Gen Z as their main base continues to pass away. That's a bold strategy Cotton, let's see if it pays off.
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« Reply #30 on: February 21, 2019, 03:30:12 PM »

The Root is a trash hack site and their only expertise is in theorizing about white women being terrible.  Here's an actual good article that presents the arguments both for and against Alexander's proposal which could limit the amount many low-income borrowers would have to pay monthly but also may remove important options from people.
https://www.marketwatch.com/story/prominent-republican-wants-to-take-student-loan-payments-out-of-your-paycheck-2019-02-06

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Del Tachi
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« Reply #31 on: February 21, 2019, 04:53:26 PM »

Yeah, y'all need to stop knee-jerking and actually read what the proposal is.

Alexander's proposal takes the current nine repayment schemes down to two - a standard, ten-year fixed repayment scheme (which has been around for years) and an income-based scheme using automatic repayment.  Automatic payments would never exceed 10% of an individual's income, and payments are automatically cut to zero when earnings fall low enough.  It would also mean those wanting income-based repayment wouldn't have to annually recertify their earnings (which is quite a bureaucratic process, and a lot of people who initially sign-up for income-based repayment forget to do it and then get locked-into the higher standard repayment rates).   Researchers think that Alexander's proposal would reduce default rates.

Source:  https://www.insidehighered.com/news/2019/02/19/proposal-payroll-withholding-sets-debate-student-loan-system
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RI
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« Reply #32 on: February 21, 2019, 04:57:22 PM »


You're not wrong.
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« Reply #33 on: February 21, 2019, 05:04:55 PM »

Yeah, y'all need to stop knee-jerking and actually read what the proposal is.

Alexander's proposal takes the current nine repayment schemes down to two - a standard, ten-year fixed repayment scheme (which has been around for years) and an income-based scheme using automatic repayment.  Automatic payments would never exceed 10% of an individual's income, and payments are automatically cut to zero when earnings fall low enough.  It would also mean those wanting income-based repayment wouldn't have to annually recertify their earnings (which is quite a bureaucratic process, and a lot of people who initially sign-up for income-based repayment forget to do it and then get locked-into the higher standard repayment rates).   Researchers think that Alexander's proposal would reduce default rates.

Source:  https://www.insidehighered.com/news/2019/02/19/proposal-payroll-withholding-sets-debate-student-loan-system

LOL@the bolded. This is my current job. I help process about a dozen of these applications a day. It's one of the easiest annual tasks and significantly easier than filing taxes.

The follow up sentence is also incorrect. No one gets locked into a higher pay rate. If you forget to renew yes your payment increases but you always have the option of signing up again.
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Del Tachi
Republican95
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« Reply #34 on: February 21, 2019, 05:24:09 PM »

Yeah, y'all need to stop knee-jerking and actually read what the proposal is.

Alexander's proposal takes the current nine repayment schemes down to two - a standard, ten-year fixed repayment scheme (which has been around for years) and an income-based scheme using automatic repayment.  Automatic payments would never exceed 10% of an individual's income, and payments are automatically cut to zero when earnings fall low enough.  It would also mean those wanting income-based repayment wouldn't have to annually recertify their earnings (which is quite a bureaucratic process, and a lot of people who initially sign-up for income-based repayment forget to do it and then get locked-into the higher standard repayment rates).   Researchers think that Alexander's proposal would reduce default rates.

Source:  https://www.insidehighered.com/news/2019/02/19/proposal-payroll-withholding-sets-debate-student-loan-system

LOL@the bolded. This is my current job. I help process about a dozen of these applications a day. It's one of the easiest annual tasks and significantly easier than filing taxes.

The follow up sentence is also incorrect. No one gets locked into a higher pay rate. If you forget to renew yes your payment increases but you always have the option of signing up again.

Yes, thus increasing delinquency and defaults, as the standard repayment schemes are based solely on your loan balance and interest rate.

Getting more borrowers into IBR necessarily requires moving toward paycheck withholding, because the current IBR bureaucratic design can't support anything like automatic enrollment (or even a significant uptake in enrollment).
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BRTD
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« Reply #35 on: February 21, 2019, 05:39:14 PM »

Yeah, y'all need to stop knee-jerking and actually read what the proposal is.

Alexander's proposal takes the current nine repayment schemes down to two - a standard, ten-year fixed repayment scheme (which has been around for years) and an income-based scheme using automatic repayment.  Automatic payments would never exceed 10% of an individual's income, and payments are automatically cut to zero when earnings fall low enough.  It would also mean those wanting income-based repayment wouldn't have to annually recertify their earnings (which is quite a bureaucratic process, and a lot of people who initially sign-up for income-based repayment forget to do it and then get locked-into the higher standard repayment rates).   Researchers think that Alexander's proposal would reduce default rates.

Source:  https://www.insidehighered.com/news/2019/02/19/proposal-payroll-withholding-sets-debate-student-loan-system

LOL@the bolded. This is my current job. I help process about a dozen of these applications a day. It's one of the easiest annual tasks and significantly easier than filing taxes.

The follow up sentence is also incorrect. No one gets locked into a higher pay rate. If you forget to renew yes your payment increases but you always have the option of signing up again.

Yes, thus increasing delinquency and defaults, as the standard repayment schemes are based solely on your loan balance and interest rate.

Getting more borrowers into IBR necessarily requires moving toward paycheck withholding, because the current IBR bureaucratic design can't support anything like automatic enrollment (or even a significant uptake in enrollment).

If you ignore every phone call, email and letter sent about delinquency refusing to ever sign up for IBR again, yes. And it takes a whole year of that to default. Which can be avoided at any time by taking a one month forbearance.

Your second paragraph might explain the large hiring spree at my job.
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Badger
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« Reply #36 on: February 21, 2019, 08:13:41 PM »

Amazing the number of Republican apologist here who deflect against a patently anti middle class measure by merely dismissing higher education as "a scam".

I'm sure they will be among the first telling their own children to avoid the higher education "scam", and instead rely on their high school diploma to make them successful in the 21st century world.
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Obama-Biden Democrat
Zyzz
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« Reply #37 on: February 21, 2019, 10:28:04 PM »
« Edited: February 21, 2019, 10:31:55 PM by #WalkAwayFromDesantis »

Was he the clown that ran for President in 1996?
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Nutmeg
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« Reply #38 on: February 21, 2019, 10:48:46 PM »

Lock him up
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Badger
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« Reply #39 on: February 21, 2019, 11:09:21 PM »
« Edited: February 21, 2019, 11:13:21 PM by Badger »

Was he the clown that ran for President in 1996?

Yep. LAMAR! Actually came rather close in the New Hampshire primary.

Didnt do bad in the Iowa caucuses either it turns out
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Progressive Pessimist
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« Reply #40 on: February 22, 2019, 09:34:23 PM »

Typical Republican logic: it doesn't affect me, or people like me. So f*** it. Why not make a situation worse?
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IceSpear
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« Reply #41 on: February 23, 2019, 05:44:26 PM »

Alexander: How can we make sure our party doesn't win any election of consequence for 50 years

Lol, don't kid yourself. The "WWC" would go back to voting straight ticket R as soon as Trump talked about a caravan or black people kneeling.
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