Comments on: Abolishing the Department of Education: Trump, Project 2025, and the Uncertain Future of Federal Student Loans https://studentloansherpa.com/abolishing-the-department-of-education/ Expert Guidance From Personal Experience Thu, 14 Nov 2024 22:13:59 +0000 hourly 1 https://wordpress.org/?v=6.7.1 By: Michael P. Lux, Esq. https://studentloansherpa.com/abolishing-the-department-of-education/comment-page-1/#comment-15501 Thu, 14 Nov 2024 22:13:59 +0000 https://studentloansherpa.com/?p=19015#comment-15501 In reply to Mike Stidham.

Yes and yes. You are right on both accounts.

The tricky part with a one-size fits all approach is the MPN. Because other plans were promised to borrowers in their loan contracts, the one-size-fits all plan would have to be an improvement over the existing plans, or they risk a borrower lawsuit. The one way around this is to grandfather existing borrowers into the current plans and make the one-size plan for all new borrowers moving forward.

]]> By: Mike Stidham https://studentloansherpa.com/abolishing-the-department-of-education/comment-page-1/#comment-15499 Thu, 14 Nov 2024 22:09:51 +0000 https://studentloansherpa.com/?p=19015#comment-15499 Even Project 2025 made allowances for a one-size-fits-all IBR plan. As well, statements from past Trump campaigns on the subject tend to echo this concept.

]]> By: Michael P. Lux, Esq. https://studentloansherpa.com/abolishing-the-department-of-education/comment-page-1/#comment-15233 Mon, 30 Sep 2024 17:08:46 +0000 https://studentloansherpa.com/?p=19015#comment-15233 In reply to Spiceoflife.

Setting aside cash to prepare for whatever comes next is a really good idea. Especially with high yeild savings accounts still offering a pretty good interest rate.

]]> By: Spiceoflife https://studentloansherpa.com/abolishing-the-department-of-education/comment-page-1/#comment-15229 Sun, 29 Sep 2024 16:55:55 +0000 https://studentloansherpa.com/?p=19015#comment-15229 What a roller coaster. Crazy that we will be thinking of maybe selling our house and rent if this all goes sideways and IBR/PSLF dies. Will be “interesting” Eaton popcorn and waiting on the sidelines saving cash for whatever drops.

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