What do you call $250,000 in student debt forgiveness?Chester Cheesewright wrote: ↑Tue Apr 30, 2024 11:58 pm► Well, at least she didn't get a fat cat tax cutpsk836 wrote: ↑Tue Apr 30, 2024 11:15 pmStudent loan forgiveness. She’s a guaranteed Biden voter.
https://www.businessinsider.com/how-to- ... 024-4?op=1
Joel Lambdin finished graduate school in 1998 — but as a professional musician, he was hardly making enough money to pay off his student loans and other bills.
So Lambdin, now 49, said his only option to make ends meet was to put his student loans in forbearance — in which he was not making payments but interest was still accumulating.
"It was just so that I could subsist, so that I could survive," Lambdin told Business Insider. "With the hope that at some point, I would be making enough money that I would be able to take them out of forbearance and start paying them down."
But he grew to realize that the only way he could make a significant dent in his student loans was by switching careers. He didn't want to do that because he loved working in music, so he decided to keep his larger student loan in forbearance and begin paying off his smaller loan with a lower monthly payment."
"Beyond financial goals, Lambdin said the relief was also allowing him the freedom to pursue some of his long-term dreams, including taking a sabbatical to study with his meditation teacher in India."