The federal government tracks all student loans, they know very explicitly how many people qualify.
If you’re making income based payments, and you have low income, the debt grows over time because the payments aren’t even enough to cover interest on the debt.
2.5 million people qualified for this plan, one of 5 that were put in place.
The plan was largely targeting dropouts, because they tend to be most trapped by loans. They don’t get any income benefit from a college degree, and tend to have lower paying jobs. If you’re doing income based repayment at minimum wage, it’s possible for your loan principle to grow continuously.
I’m not saying it’s perfect, but it definitely would have helped people.
Great to see Greenwald continuing to platform grifters that spread disinformation.
That’s daddy long neck in the front
While I endorse the change, I believe it’s being made to avoid arbitration being weaponized by class action plaintiffs, which can be more costly than a class action lawsuit
Eg: https://www.jdsupra.com/legalnews/mass-arbitration-aaa-looks-to-reign-in-4534306/#:~:text=In one example%2C Uber was,at the outset of cases.