Page 14 - October 2022 Issue.indd

made during the forbearance will be credited back to you if
Buying or Selling? you reach out to your servicer and ask them for it. But before
spending your windfall you need to do some calculating.
If the payments you made did not reduce your outstanding
balance to less than $10,000 then do not request a refund
of your payments because they lowered your balance dollar
for dollar, no interest charged. Assume your outstanding
I’m the KEY balance in March of 2020 was $20,000 and you made payments
totaling $2,000 since then leaving you with a current balance
of $18,000. After the “Biden credit of $10,000 is applied your

to your next remaining balance is $8,000, instead of $10,000 if you were to
get a refund of the $2,000 in payments you made in the last 32
months.
HOME If the payments you made did reduce your balance to less than
$10,000 request a refund of your payments which will increase
the balance owed back to where it was in March of 2020. When
the $10,000 credit is applied your loan may be paid in full or
leave you with a low balance. Although less than 2% of student
loan borrowers paid when they did not have to, it is important
to understand that the student loan forbearance aff ects every
borrower in some way unless your income exceeds the limits.

For many reasons those who will not benefit from this
government giveaway are upset. Why should taxpayers who did
not attend college be saddled with paying the debt of those who
did? I don’t have a good answer, or any answer for that matter.

Why do those who played by the rules, borrowed to go to
college, got a degree, improved their lot in life and paid off their
Amy Endzel, Realtor indebtedness support those who are relieved of some or all of
Direct: 443-786-5189 their obligation. To this I can only say, “timing is everything.”
Office: 410-972-4000 Is it right for colleges and universities, who have nothing at
risk in their student’s ability to repay, get a free pass to continue
amyendzel@kw.com increasing tuition that further forces young people to become
homesontheshore.kw.com indentured servants to their future. I say, absolutely not and I

will address college costs and benefits next month.
Is it right or fair for President Biden to implement such a
controversial program this close to an election? Is it fair that
he does it by executive action instead of through Congress?
Only a court will make that determination. We as tax paying

citizens, who may or may not benefit, are given another issue
Teachers & School Staff that further divides us and separates us into more “tribes” of
those who feel the same as we do about our beliefs, our future,
and our realities.

Ask me for details on how I'm No, it is not right or fair, but such is politics of division that
consumes our national discourse. As that famous philosopher
giving back to the teachers and
Rodney King once said, “can’t we all just get along?”
school staff that I have a privilege
Mr. Rowe is Vice President/Lending for Bay Capital Mortgage
of working with in 2022!
Corp. with offices in Easton and Annapolis. He has lived in
Caroline for his entire life and supports the county by volunteering
Let me help you! in a variety of ways. He currently lives near Greensboro with his
wife Jeanne and daughter Kelsey.

14