,
5 tweets,
1 min read
Read on Twitter
BRIEF THREAD: 1/ I repay my student loans from law school under the Income-Based Repayment Plan because I contracted with the Federal Government that if I did so, in 20 years, any balance would be forgiven. Trump's proposed budget purports to do away with that forgiveness plan.
2/ The impact of selecting the IBR plan is that interest accrues if not paid, and then the borrower (me) incurs interest on interest as it accrues. Now, I try to keep up with the interest, at a minimum, but that is difficult given the amount of the debt.
3/ In the 8 years since I began payments, I've barely made a dent in the principal largely due to the interest on interest that I must service each month. As such, if the forgiveness is taken away, I will be saddled with a HUGE interest amount, on top of the loan.
4/ We made a contract, the government and I. And if they fail to meet their obligations under that contract, I will suffer damages in the amount of the interest incurred based on my reliance on their promise.
5/ This is all to say that, if Trump backs away from that contractual promise, I plan to use my law degree to sue the everloving shit out of his government to recoup the damages caused by their breach. I sincerely hope that the MILLIONS of similarly-situated others will join me.
