I am literally banking on the 20-year IBR forgiveness not being fucked up in the next 15 years. There is no way I’ll pay the loans off at this rate, especially with the interest. The loan terms should be locked in as a worst-case scenario, at least, including forgiveness. These political games are ridiculous.
Now it will be interesting to see if these borrowers are hit with “tax bombs” upon forgiveness. If the forgiven amount is treated as income, like usual on debt forgiveness, it could mean they owe taxes on it come April next year. What are the chances that someone who’s been on an IBR plan has ~$20,000 in cash to pay a tax bill?