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Student Loans and the 2020 Election

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  • #46
    Honestly we are considering that a primary candidate is planing on keeping these promises at all? If it even happens it will be a pale shadow of what is promised.

    Next election cycle they will have to promise to forgive all debt credit card and mortgages too if they want to catch anyone's attention.

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    • #47
      Originally posted by Panscan View Post

      And what do you think would happen?

      If he doesnt have the capability, he doesn't have the capability
      I think the likelihood of Sanders getting elected is low, but certainly not zero
      I think the likelihood of Sanders getting elected and anyone's student loans getting cancelled is very low, nearly zero
      I think anyone with public loans paying 6 or 8 or whatever percent interest and not going for PSLF should refinance now

      what do you think?

      Comment


      • #48
        Originally posted by Panscan View Post
        It's not a few thousand dollars... Let's say you have 300k in debt at 6%. The 2020 election is in 11 months. Do you think the person is going to get elected and magically enact policy on their first day? Could literally be tens of thousands if you refi to a good rate vs waiting for over a year or have high loan burden.
        so they refi to a 3.5% rate. instead of 18k in interest they pay 10.5k. I think paying 7.5k for the chance to eliminate 300k of debt is reasonable. and if bernie is eliminated early the cost would be even lower.

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        • #49
          Originally posted by triad View Post

          so they refi to a 3.5% rate. instead of 18k in interest they pay 10.5k. I think paying 7.5k for the chance to eliminate 300k of debt is reasonable. and if bernie is eliminated early the cost would be even lower.
          I hear scratchoffs are pretty reasonable

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          • #50
            Originally posted by triad View Post

            so they refi to a 3.5% rate. instead of 18k in interest they pay 10.5k. I think paying 7.5k for the chance to eliminate 300k of debt is reasonable. and if bernie is eliminated early the cost would be even lower.
            Just out of my own curiosity regarding risk and insurance, what do you think the percent chance is that he gets elected AND forgives student loans (to include high earners such as physicians)?

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            • #51
              I don't think the character limit can handle that many zeros

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              • #52
                Originally posted by triad View Post

                so they refi to a 3.5% rate. instead of 18k in interest they pay 10.5k. I think paying 7.5k for the chance to eliminate 300k of debt is reasonable. and if bernie is eliminated early the cost would be even lower.
                again, is he going to get elected and magically do it overnight? Do you really believe that? Seems very naive

                Comment


                • triad
                  triad commented
                  Editing a comment
                  does it matter if he does it overnight or within 2 years?

              • #53
                Originally posted by CordMcNally View Post

                Just out of my own curiosity regarding risk and insurance, what do you think the percent chance is that he gets elected AND forgives student loans (to include high earners such as physicians)?
                he's in 2nd place currently and I think biden is an idiot who will stumble soon. I'm hopeful mayor pete or bloomy wins it but I suppose there is a 25% chance he wins the primary and if that happens a 50% chance he wins the election. He is very much in favor of forgiving student loans for everyone and if he can do it without legislation I think chances are close to 100% he gets forgiveness for public loans.

                We will probably know around March if he will have a chance. so yes, there is a large risk of losing 4 months of interest. thats a gamble I would take.

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                • #54
                  Originally posted by CordMcNally View Post

                  Just out of my own curiosity regarding risk and insurance, what do you think the percent chance is that he gets elected AND forgives student loans (to include high earners such as physicians)?
                  2% and 0%

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                  • #55
                    If gambling and odds on presidential elections of of interest in student loan decisions, why not actually gamble? Hedging your bets is allowed and there are huge potentials (consult your accountant on tax implications).

                    For those wishing to bet, follow the road and place your bets. Actually, it has some comments regarding impacts of the “current noise” on the odds. Just in case you might have missed the pr spins in media!

                    https://www.oddsshark.com/other/2020...l-odds-futures

                    Comment


                    • #56
                      Originally posted by triad View Post

                      he's in 2nd place currently and I think biden is an idiot who will stumble soon. I'm hopeful mayor pete or bloomy wins it but I suppose there is a 25% chance he wins the primary and if that happens a 50% chance he wins the election. He is very much in favor of forgiving student loans for everyone and if he can do it without legislation I think chances are close to 100% he gets forgiveness for public loans.

                      We will probably know around March if he will have a chance. so yes, there is a large risk of losing 4 months of interest. thats a gamble I would take.
                      How much more are you willing to bet? I wonder if this new forum have a gambling function? What odds are we talking? Anywhere close to even money and I am all in!

                      Comment


                      • CordMcNally
                        CordMcNally commented
                        Editing a comment
                        Gambling odds don't quite work like that. An implied probability of 12.5% would give 7:1 odds. With that said, you're overestimating him, at least according to oddsmakers.

                      • Lordosis
                        Lordosis commented
                        Editing a comment
                        Either way it sounds like an easy hundred bucks! Bitcoin only to preserve anonymity :P

                      • triad
                        triad commented
                        Editing a comment
                        I'm too old to use bitcoin! venmo or paypal and i promise to keep your identity secret when I win cord, what do they oddsmakers give him?

                    • #57
                      Of course it matters. Interest increases with time. Youre trying to do a risk benefit analysis. More interest accumulations the longer it would take them to forgive and thus the risk increases.....

                      If it takes 2 years then that's more than the double the interest of our initial analysis..
                      Last edited by Panscan; 12-12-2019, 08:00 AM.

                      Comment


                      • triad
                        triad commented
                        Editing a comment
                        I'd be willing to pay a lot of $ in interest to eliminate 300k of loans...

                    • #58
                      Refinance and destroy your debt. The chances of you getting them forgiven outside of PSLF is very small.

                      Comment


                      • jacoavlu
                        jacoavlu commented
                        Editing a comment
                        your user title should just be dentist we don’t need to know you’re a blogger

                      • Debt Free DDS
                        Debt Free DDS commented
                        Editing a comment
                        Is this a rule? If so, I will happily comply.

                    • #59
                      I don't see why you need to do any guess work into how much debt you will have forgiven when Elizabeth Warren has a calculator that will tell you how much debt you will have forgiven after she is elected. If you want to secure your debt forgiveness now though, you will need to send me a small deposit via western union to pay for the money transfer fee to have the debt forgiven...
                      https://elizabethwarren.com/debt/

                      Comment


                      • #60
                        There is a zero percent chance that loans will be forgiven outside of PSLF.
                        Ultra-amateur blogger at drpayitback.com, chronicling my journey back to broke (and beyond) | @DrPayItBack

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