What would happen with student loans under a Democratic trifecta?

[I spent the winter writing songs about getting better]

I'll go with both 3 and 4.

[Person Man]

I would say
1) Discharability of PRIVATE loans
2) No tax penalties for loan forgiveness

[GP270watch]

If Warren wins with a trifecta there will definitely be student loan forgiveness.

[Mr. Reactionary]

Hopefully 3 and 4. TBH as someone who has a lot of student debt, I am troubled by the moral hazard of just writing it all off. I have a plan that could get me debt free in 5 years but that involves another loan and me spending all of my savings. That would shave off over 10 grand worth of projected interest longrun, but Im stuck here wondering if I should even bother. It would be infuriating for me to put in the sacrifices to be debt free only to have everyone else (including those who have more opportunities and make more than me and could similarly pay off their loans if they worked hard and sacrificed) get a free pass. At the end of the day we all voluntarily signed the repayment agreement. The interest rates are stupidly high yes, and the bankruptcy limits are gross, but people who can pay, should. As Mayor Pete pointed out, the rich should not have their debt just waived out of some poorly defined "principle" of everyone deserving free stuff.

[Progressive Pessimist]

At the very least I would expect basic reforms like them being able to be discharged in bankruptcy or in the case of the death of the student.

[Hammy]

No change. Once Dems have power, they will feel that alone has accomplished their goals and pat themselves on the back simply for getting elected, and go back to letting Republicans decide everything like they did with Obamacare.

[Beet]

No change. Once Dems have power, they will feel that alone has accomplished their goals and pat themselves on the back simply for getting elected, and go back to letting Republicans decide everything like they did with Obamacare.

Yes, Obamacare was actually passed by the GOP and the Democrats just let them do it. How dare they!

[I spent the winter writing songs about getting better]

At the very least I would expect basic reforms like them being able to be discharged in bankruptcy or in the case of the death of the student.

That is already the case.

[Amenhotep Bakari-Sellers]

Nothing, if Americans want a loan forgiveness,  they will get it under a disability discharge under the social security act or if they work for a public employer for 10 years. The govt has a 22T deficit problem

[T'Chenka]

Depends entirely if we get a Democrat president or a Berniecrat president.

[Progressive Pessimist]

At the very least I would expect basic reforms like them being able to be discharged in bankruptcy or in the case of the death of the student.

That is already the case.

Maybe this changed very recently, but a few years ago a friend of mine died and his family still had to pay off his student loans.

[I spent the winter writing songs about getting better]

At the very least I would expect basic reforms like them being able to be discharged in bankruptcy or in the case of the death of the student.

That is already the case.

Maybe this changed very recently, but a few years ago a friend of mine died and his family still had to pay off his student loans.

That's only possible if his parents cosigned on the loan so that's probably what happened. Also sometimes creditors send messages to the family "suggesting" they pay but not mentioning they are not legally obligated to do so. Transferring debts of the deceased to family members has been illegal since the Wilson Administration.

That or it was a private loan taken out in the parents name. Federal Parent Plus loans are dischargeable if the student dies, not sure about private. In that case they're not really "his" loans but that point is missed amongst parents way too often.

[Progressive Pessimist]

At the very least I would expect basic reforms like them being able to be discharged in bankruptcy or in the case of the death of the student.

That is already the case.

Maybe this changed very recently, but a few years ago a friend of mine died and his family still had to pay off his student loans.

That's only possible if his parents cosigned on the loan so that's probably what happened. Also sometimes creditors send messages to the family "suggesting" they pay but not mentioning they are not legally obligated to do so. Transferring debts of the deceased to family members has been illegal since the Wilson Administration.

That or it was a private loan taken out in the parents name. Federal Parent Plus loans are dischargeable if the student dies, not sure about private. In that case they're not really "his" loans but that point is missed amongst parents way too often.

I see. Thanks for clarifying that. Do you think this sort of policy should be addressed too? Or is the assumption of risk on the parents cosigning enough to make it that they should still have to pay?

[I spent the winter writing songs about getting better]

At the very least I would expect basic reforms like them being able to be discharged in bankruptcy or in the case of the death of the student.

That is already the case.

Maybe this changed very recently, but a few years ago a friend of mine died and his family still had to pay off his student loans.

That's only possible if his parents cosigned on the loan so that's probably what happened. Also sometimes creditors send messages to the family "suggesting" they pay but not mentioning they are not legally obligated to do so. Transferring debts of the deceased to family members has been illegal since the Wilson Administration.

That or it was a private loan taken out in the parents name. Federal Parent Plus loans are dischargeable if the student dies, not sure about private. In that case they're not really "his" loans but that point is missed amongst parents way too often.

I see. Thanks for clarifying that. Do you think this sort of policy should be addressed too? Or is the assumption of risk on the parents cosigning enough to make it that they should still have to pay?

Parent Plus loans need serious reform. They lack the plans like income driven plans student loans have. Luckily justadding the same reforms to them is an easy fix.

I think cosigning for student loans should be made unnecessary or just have the law changed so they too are discharged with the death of the student. The predatory collection activities on families are vile, but alas would be very difficult to ban in a constitutional way.

[Hammy]

No change. Once Dems have power, they will feel that alone has accomplished their goals and pat themselves on the back simply for getting elected, and go back to letting Republicans decide everything like they did with Obamacare.

Yes, Obamacare was actually passed by the GOP and the Democrats just let them do it. How dare they!

Yes, lets casually ignore the fact that this was originally a Republican proposal in the first place. We could've had a public option, but nope, Dems wanted to look bipartisan instead of putting the country first and we got this trashpile formerly known as Romneycare because they thought it would get them one or two GOP votes when they passed it.

[○∙◄☻¥tπ[╪AV┼cVê└]

They should increase the subsidized Stafford loan limit. It hasn't been increased since last century despite huge increases in tuition and cost of living.

[Amenhotep Bakari-Sellers]

Biden was under Obama that Federally consolidated Student loans. There isnt gonna no changes under Dem trifecta. Student loans fall under the hardship discharge petition: if one cannot work due to a mental or physical handicap or work 10 yrs in public service, one can get a student loan dischatge. Biden and Hilary voted for that Bankruptcy Bill in 2007

[Mr. Reactionary]

At the very least I would expect basic reforms like them being able to be discharged in bankruptcy or in the case of the death of the student.

That is already the case.

Maybe this changed very recently, but a few years ago a friend of mine died and his family still had to pay off his student loans.

I recall reading an article a few years back about the Feds collecting what they could from the assets of the estates of dead student debtors.

[junior chįmp]

What should happen:

Forgiveness of all student loans based on a means tested syatem, free public college, stricter requirements on student loans, change bankrupcy laws to allow discharge of student loans for everyone else

What will happen:

Prob nothing