Millennial Debt This Week: Feb 14th

Happy Valentine's Day! Hopefully these articles bring you warm feelings and love.

Joe Biden's stealth proposal to cancel billions in student loan debt
  • With Biden's proposal, most college students would be enrolled in an income-based repayment plan automatically and would not need to pay any taxes on the undergraduate student loan debt forgiven after two decades of making payments — even if those “payments” are $0 per month
  • This would undoubtedly be more costly for the United States than the current plan, but is also probably the most likely solution, regardless of candidate. 

  • Simplify student loan repayment
  • Limit Parent PLUS borrowing and Graduate Borrowing
  • End Public Service Student Loan Forgiveness
  • End Subsidized Student Loans

  • Reset Button is a new startup company designed to help student loan borrowers who have experienced bankruptcy
  • They work with a network of litigators to try and have student loan debt forgiven in bankruptcy along with the other debt that was already expunged. 
  • Here is the link for Reset Button

  • There are 359 people who have joined together and are refusing to pay back their student loans
  • I do not suggest this strategy. There are plenty of legitimate ways to decrease your student loan burden, and just blankly saying that you aren't going to pay them back, won't look good in the future.