Hi , wondering if anyone has successfully dissolved and closed a business and how they handled their eidl loan? I sent email to sba letting them know of closure and this is what i got back … not sure what they can come after since the loan was not personally guaranteed? Any information is greatly appreciated. I also spoke to a bankruptcy lawyer and had him review my loan docs and he also said their is no personal guaratee.
Thank you for contacting the U.S. Small Business Administration Customer Service Center regarding assistance related to your SBA loan. We regret to learn of the closure of your business.
However, we must advise that a business closure does not extinguish the debt to the SBA. The debt remains the obligation of the borrower, co-borrowers, or guarantors.
Your file is with your loan servicing center. We recommend you email that office directly at covideidlservicing@sba.gov with any questions related to your present circumstances. Please include the SBA Loan Number or other identifying information with your request.
If you have additional questions or require further assistance, please call 1-833-853-5638 (Monday through Friday from 8:00 am to 8:00 pm Eastern Time) or, if you are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.
Sincerely,
Office of Capital Access, Customer Service Center U.S. Small Business Administration

I’ve been wanting to breakout into a credit analyst position and after applying to 50+ jobs I finally got an interview! Had one with a recruiter today and we scheduled one with the hiring manager next week. This is where I get nervous lol. I have worked in mortgage loan processing and am now currently in commercial real estate banking for a major bank and my current role is primarily administrative. I graduated in 2020 with a bachelors in finance. The recruiter told me they want someone with experience and “who can hit the ground running”. I do feel like I need to be honest next week that I don’t have much analysis experience, or any. But i do have commercial experience so I’m hoping to emphasize on that. Do you guys have any tips how i go about this during the interview? The job posting said entry level but did ask for 1-3 years experience.

First off. This is not intended to spread FUD. I hate FUD and market manipulation. This is just playing devil’s advocate and I’m here to learn.
If you have weak hands: STOP READING NOW. The only way the MOASS can happen is if everyone has diamond hands.
Anyways.
Professional Consultation Results
When I asked my brother (B.S. in Finance and Business Administration) if the MOASS is possible, this was his answer:
“No I don’t think it’s possible. The top one percent have more than fifty percent of the money and the government is on their side.”
And that argument makes sense. It makes me wonder. Would the billionaires rather liquidate their super yacht, their private islands, and fight us “peasants” (their words… respectfully, I consider us knights and ladies) tooth and nail than conduct history’s largest transfer of wealth? Is the MOASS truly possible even in the best case scenario where all of our net worth were in GME? Or is it only possible if every one of us pulled out a $20k loan as rocket fuel and held? Or would the government simply bail them out again to avoid financially restructuring the nation?
Note: I am pro GME and 100,000% believe in APE. But I’m also an engineer and believe in problem solving and science. In science, a theory is just a theory until proven over and over until it is a law. PhD’s get their doctorate by arguing and defending a case for their dissertation. Well, that’s what I’m doing here. I want to know just how bullet proof the MOASS theory is.
Additional question: Is there a writeup/ piece of literature in the GME DD library that addresses whether it is financially possible?

Does anyone know why some of my loans are being forgiven (in administrative forbearance) while others aren’t? All are federal loans and all came from me attending the art institute. I didn’t attend any other schools or took out any private loans. Any help or explanation is appreciated.

I am just finishing my first two years of courses at my local community colleges. My school journey has been unconventional and treacherous overall. I live In California (Bay Area) and am in the field of education after having been a chef for 10 years. Long story short, as an older, working student, education has felt inaccessible - at least administratively. I have maintained straight As and I am an excellent communicator, and am appalled at the administrative hoops I have had to jump through to complete simple and necessary steps. For example, transcript evaluations, petitions, enrollment verification.
So I applied to SFSU to complete this, and went through an 8 month application process which had ZERO transparency. It turned out after all that time, course modalities for my major do not match my career schedule. I had to make a quick pivot. This was 5/7/2024 SFSU has still not replied to my initial email and follow up asking about this.
I decided on OSU. I am SHOCKED at the responsiveness, efficiency, and transparency in their admissions process! In just a matter of 9 days, I have applied and been accepted, been able to have my transcripts preemptively evaluated, meet with my academic advisor, have access to my account, sort out student loans, etc.
OSU has been extremely impressive in this regard. This is a step in the right direction in terms of how a higher institution should operate. I am now a Beaver starting in the fall, and I am proud of it.
GO BEAVS!

Reddit Account: aelfin
Discord Tag: Bolt1219
Name and House: Dorian Hightower
Age: 80
Cultural Group: Reachman
Appearance: Once tall and strong and proud -- a knight of renown -- the passage of time has seen fit to humble Dorian Hightower. The gold-brown hair of his youth has bleached to silver, his countenance marked by wrinkles. He wears his hair long, often unbound that it frames his features. His beard is neatly styled. Despite the betrayal of his body, Dorian's eyes remain sharp and quick, and his smile is that of a younger man.
Trait: Mastermind
Skill(s): Devious(e), Espionage(e), Assassin
Talent(s): Napping, Meandering, Gardening
Negative Trait(s): Sickly
Starting Title(s): Beacon of the South, Defender of Oldtown, Defender of the Citadel, Lord of Oldtown, Lord of the Hightower, Lord of the Port, Voice of Oldtown
Starting Location: Starting Event
Alternate Characters: n/a
Biogaphy Early Life
In 55BC, under a golden sun in the bustling city of Oldtown, Dorian Hightower was born the second son to Lord Leyton Hightower and his wife Leona Bulwer. His early childhood was marked by a sense of curiosity and an inherent noble pride that was expected of a Hightower; against a backdrop filled with the sounds of the bustling harbour, the smell of the sea, and the sight of a forest of sails coming and going. Oft he would watch the ships as they sailed away and wondered where they went
From a young age, Dorian showed a keen interest in learning and the world around him. His education was that expected of one of his lineage; lessons with the Maester were as important as that of his martial education. At just ten, he was sent to Highgarden to squire for House Gardener. There, amidst the vibrant gardens and rich traditions of the Reach, he learned the values of chivalry, honour, and the importance of duty. His time at Highgarden left a lasting impression on him, fostering a deep respect for the knightly traditions that would shape his later life -- which would make the later actions of the Tyrells sting all the more,
At one-and-seven, Dorian’s path took a scholarly turn. Sent to study at the Citadel, immersed in the halls of knowledge, he began forging his maester's chain, dedicating himself to the studies of copper for history, bronze for astronomy, and iron for warcraft. His mentors noted a sharp intellect and strategic mind, qualities that would serve him well in the years to come.
The Heir to the Hightower
In 35 BC, a marriage united Dorian with Leila Tarly, a match both strategic and affectionate. At the age of twnety Dorian became a father, welcoming his first child, Garlan, into the world. Over the years, the Hightower family grew with the births of Garmund, Delena, Owen, and Lynesse. Each child brought new joy and responsibility, shaping Dorian into a devoted father and a wise lord.
The Stranger visited the Hightowers in 20 BC, when Dorian's older brother, Leyton, the heir to the Hightower, was lost in a shipwreck while returning from a journey to Braavos. At five-and-twenty, Dorian was thrust into the role of heir, a position he had not anticipated. Embracing his new responsibilities with determination, he began learning the intricacies of rule, administration, and justice from his father. Living in Oldtown, the heart of the Faith of the Seven, also imparted a deep spiritual awareness in Dorian. The more he learned, the more he was put into positions of authority. Initially undertaking a role as his father's Steward, Dorian learned quickly that he was much too bored by numbers to be anything close to competent. He was better at dealing with people.
Through his dealings his network grew, and this network, he recognised, could be turned toward the flow of information. The ships he had watched as a boy carried trade, but they also carried words from half the world away. If he could find a way to hear those words before any else, he'd have an advantage -- not only in trade, but in politics as well. Setting to work, Dorian used his House's name to tour as often as he could, finding those in key places that would serve his ends for the right price.
Life and Trials
As the head of House Hightower, Dorian instilled in his family a profound sense of fairness and the importance of knightly traditions. He stressed the values of chivalry and gallantry, ensuring that these principles were deeply rooted in the Hightower legacy. His household became known for its adherence to these values, earning respect and admiration throughout the Reach.
He was an avid hunter, frequently organising grand hunting expeditions in the lands surrounding Oldtown. Not merely for sport, these hunts also served as opportunities to bond with his children and vassals. One notable hunt saw Dorian bring down a formidable stag, a feat that became legendary in his household.
Dorian’s daughter Delena married Harlan Tyrell after a secret tryst, a match that Dorian did not initially support but ultimately was forced to accept. His youngest daughter, Lynesse, found a husband in Willem Ryger. A man whom Dorian had mentored in the art of espionage, and who would later go on to prove the most succesful spymaster in the country.
Feasts at the Hightower were grand affairs, known throughout the Reach for their opulence and hospitality. Dorian believed in the power of communal gatherings, often using these occasions to strengthen alliances and resolve disputes. The harvest feast was a particularly notable event, drawing his vassals to Oldtown to celebrate the bounty of the land, and to reaffirm their loyalty to House Hightower.
From the Ashes:
Family life, however, was not without its hardships, and the Hightowers not immune to tragedy. The House faced a profound loss when Garlan, Dorian's eldest son, was killed on the Field of Fire, turned to ash by dragonfire. This tragedy left Garlan's young son, Gwayne, as Dorian's heir, a heavy burden for the grieving boy to bear at such a young age. By then Dorian was a man nearing his sixtieth decade, not young by any stretch, and so particularly attension was paid to Gwayne's education near to the exclusion of all else. A small army of learned men were brought in to cover every aspect that would eventually be required of him. Dorian hardly went anywhere without his grandson in tow. The Seven Kingdoms might have been united, but the dawn of this new age was eclipsed by Dorian's fears that he would pass before his heir was ready, and he had known many a House felled by the poorly equipped.
Dorian levied from Lord Hightower against House Costayne of having refused the call to rally at Oldtown, backed by the word of the High Septon. A host marched on Three Towers but was met with denial from Lord Costayne who eventually demanded a trial by combat. Gyles Gardener offered himself as champion, and for his victory was given rule over Three Towers, with the fallen lord’s kin being exiled to Essos. Aegon Targaryen was crowned in the Starry Sept upon their return.
In 8AC, a band of sellswords by the name of the Black Roses arrived in Oldtown, headed up by Harlon Costayne, offering cheap mercenaries for the city and protection for its trade. Dorian put to them a challenge, a trial by combat to determine if the Seven stood with the Roses. Pit against a knight of Oldtown, the Black Roses emerged the victorious party, and Dorian issued them leave to remain so long as they served the Reach and her interests.
25AC
Life is a loan, and eventually all men's accounts are settled in full. Having passed into his eightieth year, Dorian Hightower knows the end is nearing for him. Age wracks his body, though his mind remains sharp. He has prepared his grandson as best as he could have done, and all that remains is the wait until his last, content in the knowledge. For the first time in a decade, the Lord of the Hightower has descended from his perch and travels towards King's Landing.
Timeline:
55 BC - Birth of Dorian Hightower

• Born in Oldtown under a golden sun, second son to Lord Leyton Hightower and Leona Bulwer.
• Early childhood filled with curiosity and noble pride, amidst the bustling harbor and forest of sails.

45 BC - Dorian Sent to Highgarden

• At ten, Dorian begins to squire for House Gardener at Highgarden.
• Learns values of chivalry, honor, and duty which leave a lasting impression.

38 BC - Scholarly Pursuits at the Citadel

• At seventeen, Dorian studies at the Citadel.
• Forges his maester's chain with links of copper (history), bronze (astronomy), and iron (warcraft).

35 BC - Marriage to Leila Tarly

• Dorian marries Leila Tarly, a strategic and affectionate match.

35 BC - 30 BC - Birth of Children

• Garlan Hightower is born when Dorian is twenty.
• Followed by Garmund, Delena, Owen, and Lynesse over the next five years.

20 BC - Death of Leyton Hightower

• Dorian's older brother Leyton dies in a shipwreck, making Dorian the heir at twenty-five.
• Dorian starts learning rule, administration, and justice from his father, becoming his Steward.

15 BC - 10 BC - Expansion of Dorian's Network

• Dorian uses House Hightower's name and tours frequently to build a network for intelligence.

10 BC - Dorian Becomes Lord Hightower

• Dorian instills values of fairness and knightly traditions in his family.
• Known for organizing grand hunting expeditions and legendary feats.

5 BC - Marriage of Daughters

• Delena marries Harlan Tyrell after a secret tryst.
• Lynesse marries Willem Ryger, a man mentored by Dorian.

5 BC - 1 BC - Grand Feasts and Gatherings

• Feasts at the Hightower are renowned for their opulence and hospitality.
• The harvest feast draws vassals to Oldtown to celebrate and reaffirm loyalty.

0 AC - Tragedy at the Field of Fire

• Garlan, Dorian's eldest son, is killed in battle.
• Garlan's son, Gwayne, becomes Dorian's heir, leading to intense focus on his education.

5 AC - Conflict with House Costayne

• Dorian accuses House Costayne of refusing to rally at Oldtown.
• A host marches on Three Towers; Lord Costayne demands trial by combat.
• Gyles Gardener wins and takes rule over Three Towers.

8 AC - Arrival of the Black Roses

• The Black Roses, a sellsword company, arrives in Oldtown.
• Dorian issues them a trial by combat; they emerge victorious and are allowed to stay.

25 AC - Dorian Prepares for the End

• Travels to King's Landing for the first time in a decade, content with his preparations.

AC
Name and House: Gwayne Hightower
Age: 30
Cultural Group: Reachman
Appearance: Gwayne stands the perfect example of the Hightower ideal; in him are the echoes of his father and his grandfather and the knightly traditions of the Hightower. He boasts hazel-hued eyes that are dominant green, alight with curiosity. His hair seems to shfit between a gold and a shade dark brown dependant on the light. Oft seen in the colours of his house; smoke greys cut with whites or greens.
Trait: Champion,
Skill(s): Swords, Andal Knight(e)
Talent(s): Hunting, Hawking, Harp
Negative Trait(s): n/a
Starting Title(s): Heir to the Hightower, Ser
Starting Location: Starting Event
Alternate Characters:n/a
Family Tree: https://www.familyecho.com/#view:SZ32K
Biography:
Born in 5BC, the firstborn son to Garlan Hightower, Gwayne was bathed in a viridescent light, anointed with the seven oils and named in the rainbow of light that filled the sept in the Hightower. This act alone is reserved for the heirs to the Hightower, a ceremony to mark them from birth as defenders of the Faith. His early life was a happy one, though he recalls little of the time. His mother and father were truly in love. Only two years later after his birth would his brother follow, and their two sisters after them. His grandfather's hall and hearth was filled with the laughter of children.
It was Garlan Hightower who held command of the Hightower host the fateful day that dragonfire swept across the Field of Fire, who perished there on the field, and whose bones were turned to ash and no longer able to be laid to rest. Gwayne was too young to grasp the reality of it, and before long his Grandfather had him learning with such intensity that he hardly had time to process the fact his father wasn't coming home.
Life turned into a steady routine of learning. His lessons consisted of how to act at court, his histories, his number and letters, and martial training in the yard. He would be woken before the dawn and not be permitted to bed until the sun had slipped away and night had fallen. Recklessly bold, oft he would attempt to climb the exterior of the Hightower and be scolded for the act if discovered.
His first true test at arms came when in the form of pirates. They had made their home in a cove and would strike out at ships fat and ripe with goods. Gwayne rode out with a small band of men, headed up by his uncle, Owen. For a week they scoured the coastline looking for signs of their quarry, and eventually, one night, sky unclouded and stars bright, they saw the fires. Come the dawn the charge of the Reachmen sent the pirates srambling for their weapons, and though they put up a fight, they were cut down to a man and their ships burned. Of those that surrendered, they would hang at the port in Oldtown as a stark reminder. For his bravery Gwayne was given their Valyrian Steel sword, Vigilance, upon his return.
He would seek out his glory in the lists after that, travelling the length of the Seven Kingdoms looking to make his name as a knight. Tourney followed tourney, but at each stop he remembered to paya visit to the local Sept and offer prayer. He lent a hand where he could. Sometimes he found friends, sometimes he found foe.
When the Orphans of the Fire descended on the Reach, Gwayne wished to march out and chase them down, but Dorian refused him -- and as well he did, for the chaos wrought by the Orphans might have claimed him, and Dorian was adamant that he would not lose another heir to fire. The inaction rankled at Gwayne, but he heeded his grandfather's words all the same.
Now, in 25AC, with Dorian ailing and a celebration called, Gwayne travels toward the event and prepares himself for what may come.
Timeline: 5 BC - Birth of Gwayne Hightower

• Born as the firstborn son to Garlan Hightower in the Hightower.
• Anointed with the seven oils and named in a ceremony reserved for heirs, marking him as a defender of the Faith.

3 BC - Birth of Gwayne's Brother

• Gwayne's brother is born, followed by two sisters, filling their grandfather's hall with children's laughter.

0 AC - Death of Garlan Hightower

• Gwayne's father, Garlan, perishes in the Field of Fire.
• Gwayne, too young to fully understand, is immersed in intense learning by his grandfather, Dorian Hightower.

1 AC - 15 AC - Intensive Education and Martial Training

• Gwayne's routine includes court etiquette, history, numbers, letters, and martial training.
• Known for his reckless boldness, he often attempts to climb the exterior of the Hightower.

15 AC - First Test of Arms Against Pirates

• Gwayne rides out with his uncle Owen and a small band of men to combat pirates.
• After a week, they locate and defeat the pirates, hanging the survivors in Oldtown.
• Gwayne is awarded the Valyrian Steel sword, Vigilance, for his bravery.

16 AC - 23 AC - Knighthood and Tournament Circuit

• Gwayne travels the Seven Kingdoms seeking glory in jousting tournaments.
• Pays visits to local Septs to offer prayers and help where needed, making friends and foes along the way.

20 AC - Orphans of the Fire Incident

• The Orphans of the Fire descend on the Reach.
• Gwayne wishes to march out but is restrained by Dorian, preventing potential harm.

25 AC - Current Events

• With Dorian ailing, Gwayne prepares for a celebration in King's Landing, aware of the responsibilities and challenges ahead.

Here's a comprehensive guide for first-time homebuyers in Kentucky:
1. Loan Programs: - FHA Loans: Backed by the Federal Housing Administration, these loans offer low down payment options (as low as 3.5% of the purchase price) and flexible credit score requirements. - VA Loans: Exclusive to eligible veterans, active-duty service members, and their spouses, VA loans require no down payment and often have competitive interest rates. - USDA Loans: Aimed at rural and suburban homebuyers, USDA loans offer 100% financing and low-interest rates. Income limits apply. - KHC Loans: Offered by the Kentucky Housing Corporation, these loans come with down payment assistance and other incentives for first-time buyers.
2. Credit Score Requirements: - FHA loans typically accept credit scores as low as 580, although higher scores can lead to better rates. - VA loans are more flexible and may approve loans with lower scores, often starting around 620. - USDA loans usually require a minimum score of 640. - KHC loans have varying credit score requirements depending on the specific program.
3. Down Payment Assistance: - Kentucky offers various down payment assistance programs, especially through the KHC, which can help cover upfront costs for qualifying buyers. - FHA loans allow down payment assistance from family, employers, or nonprofit organizations.
4. Income Limits: - USDA and KHC loans have income limits based on the area and family size. Exceeding these limits may affect eligibility.
5. Property Eligibility: - USDA loans are limited to eligible rural areas defined by the USDA. - FHA, VA, and KHC loans are more flexible regarding property location but may have specific property condition requirements.
6. Mortgage Insurance: - FHA loans require both upfront and annual mortgage insurance premiums. - VA loans have a funding fee but do not require monthly mortgage insurance. - USDA loans have upfront and annual guarantee fees. - KHC loans may have mortgage insurance requirements depending on the specific program.
7. Loan Approval Process: - Pre-approval is crucial and involves a thorough review of your financial situation by a lender. - Gather necessary documents such as income statements, tax returns, and credit history for the application process. - Work with a reputable mortgage broker like Joel Lobb who specializes in Kentucky homebuyer programs for guidance and assistance throughout the process.
8. Closing Costs: - Factor in closing costs, which typically range from 2% to 5% of the home's purchase price, and may include fees for appraisal, inspection, title insurance, and more.
9. Homebuyer Education: - Consider attending homebuyer education courses offered by HUD-approved agencies. These courses provide valuable insights into the homebuying process, budgeting, and homeownership responsibilities.
10. Post-Purchase Expenses: - Plan for ongoing homeownership costs such as property taxes, homeowners insurance, maintenance, and utilities.
Navigating the homebuying process can be complex, but with the right information and support, you can make informed decisions and achieve your goal of homeownership in Kentucky.

26m, about 50k in a Roth IRA, 24k in a traditional ira, 2k in a 457 split between Roth and traditional , and about 3k in a general stock account. My cash savings is roughly 3k (plan to increase to 10k). I currently work for the government on year 2 of 30 for an 80 percent pension . I just took police exam and waiting for a call back from department . I'm saving 20 percent into my Roth which allows me to max out each year (just shy of 21 dollars an hour ). I am putting 10 dollars a week into my 457 accounts , but I plan on increasing when the plan allows me to (they don't think I work there yet they still take money). I do not own a home, but plan on buying land and then doing a a builder loan. What do I need for a percent to save in the 457 to ensure I can retire at 59 ? Should I count out the pension and assume I'll never get it? Am I even on track to close to retiring based on percents? Should I consider 20 percent into the Roth and traditional 457 for a total savings rate of 40 percent? I have a bachelors in business administration but couldn't find a job in finance. I enjoy government benefits so I don't intend on leaving until at least 10 years so I can collect 20 percent of pension. Any tips to make my life easier?

So I was looking into the recently announced consolidation forgiveness plan. Currently, I have two direct unsub loans and one direct sub loan. I applied for the SAVE program, and it placed them all on administrative forbearance until 10/28/2026. I haven't made any payments since Covid because none were dye. Looking at the consolidation option, it appears that it might restart my payments fairly quickly. Is there any way to tell if my loans will be forgiven if I consolidate? And would having my loans on administrative forbearance since covid extend the period for forgiveness?

I've been following this group over the past couple of months and wanted to give an update. Yesterday, May 15, 2024, I was excited to see what looks like the Golden Email from the US Department of Education. This would be under the category of IDR 25-year forgiveness. My undergraduate loans entered repayment way back in 1994; graduate loans in 2000. For those interested, here's my timeline:
*3/11/24 Applied to consolidate my old FFEL loans at the student aid website, along with completing an IDR application. Placed in administrative forbearance until 5/20/24.
*4/4/24 Consolidation appeared to be completed per student aid site
*4/20/24 Loan transferred to new servicer, Mohela. Loan amounts and new monthly payment amount were correct and I was put into the correct IDR plan per my application (ICR)
*5/15/24 Received email from ED with subject line: "You're eligible to have your student loan(s) forgiven!"
5/16/24 My administrative forbearance was scheduled to end and payments to resume 5/20/24. My "payment due" to Mohela is now changed to $0 (it had been $291) and status is "forbearance", which is a change from just one day ago.
This group has been so very supportive and helpful. I'm happy to pay it forward and offer any support and assistance I can in return. Thank you!

The flagship rooftop solar program (https://www.pmsuryaghar.gov.in), which was much lauded for its generation of green, sustainable, cheap electric power, and for promoting a decentralized, on-grid production model, appears to be dysfunctional for the last 3+ weeks. The Android app as well as the website (after login of individual applicants) has stopped working. The app puts out a message saying that it is down for maintenance and that it will be back in two hours, while actually it has been dysfunctional for over 3 weeks (image attached).
Hundreds of producer-consumers ("Prosumers") from around the country are stuck and unable to proceed after investing their own money, as the subsidies are processed through the site and/or the Android app.
Dozens of contractors are in trouble as their working capital is locked up because they are unable to finish installations that are technical completely, but administratively depend on the app and website.
Worst of all, many kilowatts of clean energy is wasted every day, as this is the peak summer in many parts of the country, and the time when productivity would be the highest. All these fully completed solar plants are unable to generate power because they cannot be commissioned.
Overall, a very depressing time for household investors--many of whom have taken loans--and others in the solar business.
If anyone knows how/where to place a complaint, pls let me know (I've already complained on the MNRE site), but there has been no response.

Let's assume there are 2 people "Sam" and "Matt" both are 24 year olds with similar personalities (Kind, humorous, friendly) but different upbringing and life experience....
Sam is from an upper middle class family, was an average student through out his life. he dropped out of a local college where he was studying computer science and starts free lancing and day trading with money borrowed from his parents. By 24 He is passionate about his job and earns well above the average of the people of his age and eventually returned the borrowed money from his parents. He spends money liberally on somethings he likes but he still plans carefully about spending, saving and investing his money. He plans on setting up a business which would employ about 5~7 people soon.
Matt is from a poor family, he studied hard and got into a very prestigious college, where he chose to study business administration. He graduates with high grades but fails to get high paying job due to the situation in the job market so he takes up an average paying job. By 24 He works in a job he doesn't like 100% and he earns average for the people of his age. A part his income goes to pay his student loan from college and he avoids spending money on non essentials. He is saving up money to go for higher education abroad.

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Borrowing for college—a concept so intricately woven into the fabric of American higher education—is poised to cross new thresholds as the interest rates for federal student loans are set to reach peaks not seen in over a decade. Specifically, undergraduate rates will escalate to 6.53%, a significant step up from the current 5.5%. It’s important to note that such a figure hasn't been recorded since the 2012-13 academic year. Turning our attention to graduate students, they are not shielded from these hikes either. They will face an 8.08% rate, increased from last year's 7.05%. For parents and graduate students exploring PLUS loans, the rate climbs even higher to 9.08%, up from the previous 8.05%. This mounting rate phenomenon traces back to decisions affiliated with the 10-year Treasury note auction, an annual event influencing these figures. These rates are not whimsically set but are a reflection of broader economic policies and conditions, including efforts by the Federal Reserve to handle inflation by maintaining a high benchmark interest rate. The implications here stretch far. Higher interest rates mean costlier long-term debt burdens for those financing their education through loans. This increases the financial strain on individuals aiming to invest in their future through education, potentially altering career paths, and financial stability long after the caps are thrown in the air at graduation. To provide some context, these loans are part of a system where fixed rates were introduced back in July 2006. Prior to this, variable rates were the norm, creating a different landscape of financial planning for higher education. The current administration, under President Joe Biden, though not directly setting these interest rates, is involved heavily in education finance reform. Initiatives like the student loan debt cancellation—nearing $160 billion—and the SAVE program aim to alleviate some of the burdens. The SAVE program, short for Saving on a Valuable Education, offers an income-driven repayment plan that could help current and future borrowers manage their repayments more feasibly, despite these interest hikes. It promises benefits like preventing the accrual of unpaid interest under certain payment conditions, potentially saving individuals significant amounts over the lifespan of their loans. Looking ahead, the administration continues to develop new proposals aimed at further relief, particularly targeting those borrowers whose loan balances have ballooned due to accumulating interest. As these proposals are yet to be cemented into policy, their future and their effect on students and graduates remain a topic ripe for ongoing discussion and analysis. Given this complex web of policies, economic conditions, and personal impact, the narrative around federal student loans is more than just numbers. It’s about real lives, economic opportunities, and the shaping of future generations' financial landscapes.

Let's assume there are 2 people "Sam" and "Matt" both are 24 year olds with similar personalities (Kind, humorous, friendly) but different upbringing and life experience....
Sam is from an upper middle class family, was an average student through out his life. he dropped out of a local college where he was studying computer science and starts free lancing and day trading with money borrowed from his parents. By 24 He is passionate about his job and earns well above the average of the people of his age and eventually returned the borrowed money from his parents. He spends money liberally on somethings he likes but he still plans carefully about spending, saving and investing his money. He plans on setting up a business which would employ about 5~7 people soon.
Matt is from a poor family, he studied hard and got into a very prestigious college, where he chose to study business administration. He graduates with high grades but fails to get high paying job due to the situation in the job market so he takes up an average paying job. By 24 He works in a job he doesn't like 100% and he earns average for the people of his age. A part his income goes to pay his student loan from college and he avoids spending money on non essentials. He is saving up money to go for higher education abroad.

I received the golden email on May 1st. I checked my Nelnet account and the balance was $0. On May 6th, I received an email from Sloan saying I have a balance. I spoke with Department of Ed today and they told me that I Administrative Forbearance would take effect. I am reading other people’s comments where their loans are forgiven. Should I be worried?

I (21F) decided to drop out of university a couple of months ago after my third attempt at a degree. Bluntly, I just don’t think the way it works is for me. I’m ADHD/ASD Level 1 and, partially as a result of that, I’m an extremely literal person and I learn through examples of a concept or way of thinking in practice. I had to spend hours and hours of my time a week seeking out examples of every single topic I learnt in a class (say, I was in a class about political theory when I was trying out political science and they mentioned historical relativism, I then had to spend hours searching for examples of historical relativism to understand it). I also struggle a lot with hyper focus and there’d be days where I’d just read without food or even more than one or two bathroom breaks from 8am in the morning to 8pm at night. As you can imagine, I got super burnt out and I’d crash and burn and end up majorly depressed within a year, but then a few months later I’d convince myself that it was just because I didn’t like the material and try again. Thankfully, I finally picked up on the cycle and I walked away for good. Maybe I’ll try again in my mid or late 20s, but, right now, I’m done.
I still live with my parents and, when I told them I dropped out of uni full-stop, they just said: “It’s absolutely fine that you’re not in uni for now, but you need to get a full-time job ASAP if you want to continue living here” and I jumped right on it. My dad works in hospital administration and his manager told him to tell me to send my resume to HR there and they’ll maybe hook me up with something. Within a week, I got an interview with one department that I thought went solidly despite my utter lack of experience in hospitals or even in administration (my only work experience before has been nannying and working in OSHC/tutoring centres casually). The department head called me about a week later saying I wasn’t successful for that particular position but they really liked “my personality” and all my references were great and they were passing my resume onto other department heads.
A couple of weeks later, I got a call from an administration manager that oversaw the hospital’s Brain Injury Rehabilitation Unit and she wanted me to come in and “meet everyone”. I thought this just was code for another interview so I got super prepped and came in ready to be grilled. As it turns out, the manager just met me in the building that all the heads and managers work out of and took me to the unit on the other side of the hospital. I met the head nurse and her and the manager just sat me down and told me all about the unit, warned me about some of the challenges (ward accepts children and seeing brain-damaged children come who have to stay there on their own for an extended period doing rehab with little understanding of what’s going on is, of course, distressing + majority of patients in the ward are young men who sometimes get argumentative and aggressive), assured me that I’d do several weeks worth of training so that I’d feel adequately prepared, allowed me to ask questions and gave me a tour of the entire unit afterwards. In the end, the head nurse said: “Looking forward to seeing on the 27th!” as she said goodbye. I was totally flabbergasted because it wasn’t even an interview - just a good, informative chat.
The admin manager told me as she was seeing me off that I didn’t have to accept the position if I didn’t want it, but I “have the job” and to please let her know within a couple of days what I decided. I have my reservations about how I’ll handle it (I’ve worked with disabled children in tutoring/OSHC but this is a lot different) but I really want to give it a try + I kind of need a job so I called her the next day saying I’d love to take up the position. I’m still kind of in shock. As I said in the title, I basically got offered this job on a silver platter and I’m in absolute disbelief about how this has all happened and how I just suddenly got a job on a random Tuesday. Like wtf?
I got sent some paperwork yesterday about the job and the minimum pay is $2820 a fortnight which is utterly INSANE. No, I’m not going to be rich, but, as someone who’s always worked casually around school and never earned over $700 a fortnight, I still can’t fathom that amount of money. Even after I take out tax, mandatory HECS (student loan system in Australia) repayments and the amount of rent my parents are charging, I’m still pocketing $1800 a fortnight. I can’t even believe it. I didn’t think it was possible for 21-year-olds without a degree to earn that much. I don’t even want to tell anyone around me because I’m afraid it’s some mistake.
I won’t lie. There are some cons. The job is from 7:30 to 3:30 M-F and, because of how far I live from the hospital and the fact that I can’t drive for medical reasons, I’ll have to get up before 5:30 each morning. The admin manager also mentioned to me that the unit doesn’t really ‘do’ overtime and if I clock out after my scheduled finish time, a record of that time is kept and I can eventually apply for an extra leave day with it. Furthermore, as I mentioned above, there’s elements of the job I have mixed feelings about. I have a lot of trouble comforting people, so if a distressed patient or family member approaches me (which, in a brain injury unit, is probably going to be common), I’m not really sure what else to say other than: “Oh… Oh.. I’m sorry… That really sucks… Oh… Oh…” Nevertheless, both of those pitfalls still don’t seem to justify the 72k a year to me… It’s not like I’m literally taking care of these patients, I’m just talking to people coming in and answering emails and phones.
I’m super scared that there’s something that’s being hidden from me and that’s why they were so eager to get me, an inexperienced 21 year old, into the position. I tried to ask my mum the other day: “What if they’re just saying that the patients are ‘argumentative’, but in reality they throw chairs and spit at the admin or you’ll have to pull 11 hour shifts on the regular with no proper overtime or they’ll just leave me in charge of an entire ward and that’s why they’re so desperate to find someone?” My mum told me that I was being ridiculous and I’m “underselling myself” and she’s sure it will be fine… but I’m not 100% certain. I’m sure there has to be at least some level of transparency and professionalism because it’s a public hospital and it’s fully accountable to the government (the Australian health system is reassuring sometimes!), but there’s nothing strictly stopping them from straight up lying about what I’m in for when I start this job.
I really want an objective perspective on this because everyone I’ve personally tried talking about this to has brushed me off and said they’re sure I’ll be great… But I don’t ask if they think I’ll be great, I’m asking if they think this job is straight up too good to be true and they’re just dancing around the question. Randoms, what do you think?

Let's assume there are 2 people "Sam" and "Matt" both are 24 year olds with similar personalities (Kind, humorous, friendly) but different upbringing and life experience....
Sam is from an upper middle class family, was an average student through out his life. he dropped out of a local college where he was studying computer science and starts free lancing and day trading with money borrowed from his parents. By 24 He earns well above the average of the people of his age and eventually returned the borrowed money from his parents. He spends money liberally on somethings he likes but he still plans carefully about spending, saving and investing his money. He plans on setting up a business soon.
Matt is from a poor family, he studied hard and got into a very prestigious college, where he chose to study business administration. He graduates with high grades but fails to get high paying job due to the situation in the job market so he takes up an average paying job. By 24 He earns average for the people of his age. A part his income goes to pay his student loan from college and he avoids spending money on non essentials. He is saving up money to go for higher education.