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PAYE expansion OMITTED from 2014 budget, costs law grads 230K
Poast new message in this thread
Date: February 17th, 2014 10:46 AM Author: Free-loading bistre dilemma http://www.mainstreet.com/article/moneyinvesting/education-planning/latest-budget-may-cost-student-loan-borrowers-and-economy-?page=1
For graduates of private colleges or graduate and professional programs who borrowed more heavily, the impact is even greater. Take, for example, a private college or grad/professional school graduate with $100,000 in loans and a $50,000 salary (not an uncommon outcome). The difference in total payments on IBR vs PAYE is over $230,000 - or more than the total of the average American's mortgage, car loan and credit card balance combined.
For borrowers who agreed to take on student loans, the cat's already out of the bag: They'll need to repay the loans using whichever available repayment plan best meets their needs.
But that doesn't take the sting out of delaying or altogether abandoning many of their economic dreams. Nor does it change the fact that the omission of the PAYE extension from the new budget could cost the broader economy billions of dollars. |
Date: February 17th, 2014 10:51 AM Author: Zippy bright mexican holy shit non-flame PAYE poast. thanks (http://www.autoadmit.com/thread.php?thread_id=2496757&forum_id=2#25034242) |
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Date: February 17th, 2014 10:53 AM Author: Dark field friendly grandma (http://www.autoadmit.com/thread.php?thread_id=2496757&forum_id=2#25034248) |
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Date: February 17th, 2014 10:54 AM Author: jet-lagged stain I just want to point out a real PAYE post even if its negative and depressing (http://www.autoadmit.com/thread.php?thread_id=2496757&forum_id=2#25034258) |
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Date: February 17th, 2014 10:56 AM Author: Free-loading bistre dilemma Fucking got omitted. (http://www.autoadmit.com/thread.php?thread_id=2496757&forum_id=2#25034268) |
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Date: February 17th, 2014 10:56 AM Author: Dark field friendly grandma rofl. that's by JULIA (http://www.autoadmit.com/thread.php?thread_id=2496757&forum_id=2#25034266) |
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Date: February 17th, 2014 10:57 AM Author: Free-loading bistre dilemma Yeah, that's why all the numbers and math make no sense at all. Still impressive that she got it published. (http://www.autoadmit.com/thread.php?thread_id=2496757&forum_id=2#25034274) |
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Date: February 17th, 2014 10:59 AM Author: Dark field friendly grandma (http://www.autoadmit.com/thread.php?thread_id=2496757&forum_id=2#25034284) |
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Date: February 17th, 2014 11:04 AM Author: Irradiated house death wish The differentials/numbers are taken straight from the DOE student loan repayment option calculators.
Also, why is it impressive it got published? I used to be an editor at that website. |
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Date: February 17th, 2014 12:17 PM Author: Free-loading bistre dilemma Explain this:
Take, for example, a private college or grad/professional school graduate with $100,000 in loans and a $50,000 salary (not an uncommon outcome). The difference in total payments on IBR vs PAYE is over $230,000.
I see IBR total payments of 220K (104K NPV) vs PAYE total payments of 103K (57K NPV). How do we get a difference of $230,000? |
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Date: February 17th, 2014 10:59 AM Author: Dark field friendly grandma where in the link does it show PAYE not being extended? Didn't see a link to any primary source (http://www.autoadmit.com/thread.php?thread_id=2496757&forum_id=2#25034289) |
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Date: February 17th, 2014 11:03 AM Author: Irradiated house death wish I called the DOE, student loan servicers and student loan experts; nobody has heard anything about PAYE being extended. It may yet be, but there is no mention or news of it to date. (http://www.autoadmit.com/thread.php?thread_id=2496757&forum_id=2#25034309) |
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Date: February 17th, 2014 11:05 AM Author: Dark field friendly grandma I see. Would something like this normally take some time to be implemented? (http://www.autoadmit.com/thread.php?thread_id=2496757&forum_id=2#25034331) |
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Date: February 17th, 2014 11:06 AM Author: Irradiated house death wish Not that I know of. (http://www.autoadmit.com/thread.php?thread_id=2496757&forum_id=2#25034340) |
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Date: February 17th, 2014 11:09 AM Author: Dark field friendly grandma I'm PAYE eligible already. u mad? (http://www.autoadmit.com/thread.php?thread_id=2496757&forum_id=2#25034353) |
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Date: February 17th, 2014 11:10 AM Author: Irradiated house death wish Just a little jelly, bro (http://www.autoadmit.com/thread.php?thread_id=2496757&forum_id=2#25034355) |
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Date: February 17th, 2014 11:28 AM Author: Fragrant Awkward Legal Warrant School (http://www.autoadmit.com/thread.php?thread_id=2496757&forum_id=2#25034453) |
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Date: February 17th, 2014 11:16 AM Author: Buff Toaster Mood johnsmeyer works on the Hill. if he says it will pass, it will pass (http://www.autoadmit.com/thread.php?thread_id=2496757&forum_id=2#25034382) |
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Date: February 17th, 2014 11:28 AM Author: Fragrant Awkward Legal Warrant School The only hill johnsmeyer works on is the 4 inches he stuffs inside of his shoes. (http://www.autoadmit.com/thread.php?thread_id=2496757&forum_id=2#25034452) |
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Date: February 17th, 2014 11:10 AM Author: Diverse costumed stag film julia, hows your personal finance blog doing? i see you started it mid 2013. have you monetized it? how much are you pulling, on avg., per month from the site? (http://www.autoadmit.com/thread.php?thread_id=2496757&forum_id=2#25034357) |
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Date: February 17th, 2014 11:28 AM Author: Fragrant Awkward Legal Warrant School Wait so what the fuck is this? (http://www.autoadmit.com/thread.php?thread_id=2496757&forum_id=2#25034457) |
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Date: February 17th, 2014 2:19 PM Author: Free-loading bistre dilemma (http://www.autoadmit.com/thread.php?thread_id=2496757&forum_id=2#25035411) |
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Date: February 17th, 2014 2:21 PM Author: Dark field friendly grandma (http://www.autoadmit.com/thread.php?thread_id=2496757&forum_id=2#25035425) |
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Date: February 17th, 2014 3:56 PM Author: Free-loading bistre dilemma (http://www.autoadmit.com/thread.php?thread_id=2496757&forum_id=2#25035986) |
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Date: February 17th, 2014 4:00 PM Author: Buff Toaster Mood Anyone know of a message board frequented by lawyers where we could get confirmation that PAYE expansion isn't going to be passed? (http://www.autoadmit.com/thread.php?thread_id=2496757&forum_id=2#25036008) |
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Date: February 17th, 2014 4:05 PM Author: Free-loading bistre dilemma We are literally publishing PAYE scholarship now (via JULIA) (http://www.autoadmit.com/thread.php?thread_id=2496757&forum_id=2#25036046) |
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Date: February 17th, 2014 5:33 PM Author: Fragrant Awkward Legal Warrant School Some poor fgt is going to come across this article and kill Himself (http://www.autoadmit.com/thread.php?thread_id=2496757&forum_id=2#25036629) |
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Date: February 17th, 2014 10:10 PM Author: Free-loading bistre dilemma Johnsmeyer? (http://www.autoadmit.com/thread.php?thread_id=2496757&forum_id=2#25038508) |
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Date: February 17th, 2014 10:11 PM Author: Fragrant Awkward Legal Warrant School Nope (http://www.autoadmit.com/thread.php?thread_id=2496757&forum_id=2#25038515) |
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Date: February 17th, 2014 4:00 PM Author: jade knife 3L here. I can still get on the PAYE tip, right? (http://www.autoadmit.com/thread.php?thread_id=2496757&forum_id=2#25036009) |
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Date: February 17th, 2014 4:02 PM Author: domesticated weed whacker idiot plz hyperlink to Johnsmeyer next time you cite PAYE
TYIA |
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Date: April 23rd, 2018 5:52 PM Author: Dark field friendly grandma (http://www.autoadmit.com/thread.php?thread_id=2496757&forum_id=2#35903414) |