Student loan repayments are impacted by inflation and tuition hikes, with income not meeting demand. Advocates worry that $10,000 in debt relief isn't enough.Student debts cannot be forgiven, they can only be transferred. With Biden’s executive action this week, that means you and I are on the hook forOf course, the president won’t “forgive” the new debt he saddled us with. In fact, he just hired 87,000 new IRS agents to collect it.
My family would qualify for this program, but we skipped the McMansion in the exurbs and Caribbean vacations and paid off our student loans instead.Biden slams tax cuts for rich when asked about student loan relief Working-class friends who couldn’t afford four years at university joined the military, learned a trade or used their native skill for jobs in sales or technology. They won’t see their office rent, truck payments or small business loans “forgiven.” Those saps chose to be responsible and will be punished accordingly.“Good news for thousands of my former students,”It’s about time Harvard Law grads got a break in this world.
No one who took Econ 101 thinks this is a good idea, whether they took out a loan for that class or not. . “Pouring roughly half trillion dollars of gasoline on the inflationary fire that is already burning is reckless,” he said. “Doing it while going well beyond one campaign promise and breaking another is even worse.” the scheme “doesn’t address the underlying issue of the affordability of higher education.” Need I mention Pappas is in a tight reelection campaign? as much last month.
Source: Education Headlines (educationheadlines.net)
Bombshell_Squad exjon My dad back in the 90s realized this. They had saved too much so I didn’t get the free money in grants like others. He said they should have bought nicer cars and left little in savings. This forgiveness is that on steroids.
exjon The student loan program’s ballooning price-tag recalls an episode in Arizona’s political past: “Propane Jane” Hull
exjon Funny coming from people getting tax credits that everybody else doesn't get. Maybe he'll take it from where he should, corporate America or the 1% - 10%. Conservatives only complain about stuff that other people get but not about benefits for themselves or their businesses.
exjon Jajajajajaaajjajajajajaaaaaaa
exjon That was what the banks that charged USURY interest rates were counting on ! Your assessment is crap !
exjon 1. Education shouldn't result in decades of indebtedness. 2. Removing student loan debt will be a boon to American households and the economy. 3. The only people who abide by the rules are the poor and middle class Americans who can't afford tuition without assistance.
exjon Bullshit!
exjon
exjon I guess we learned a lot from TFG
exjon Not bad for a Matador.
exjon You were saying
exjon So playing by the rules is having rich parents who can pay for college? How bout these rules 👇
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First lady Jill Biden tests positive with apparent 'rebound' COVID-19 case, President Biden tests negativeCOVID-19 ALERT: First lady JillBiden has tested positive for COVID19 again in an apparent “rebound” case, after she initially tested negative for the virus over the weekend.
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Biden rallies for Democrats, slams 'semi-fascism' in GOPROCKVILLE, Md. (AP) — President Joe Biden called on Democrats Thursday “to vote to literally save democracy once again” — and compared Republican ideology to “semi-fascism” — as he led a kickoff rally and a fundraiser in Maryland 75 days out from the midterm elections. I'm glad President Biden came out string on the campaign trail. J6 and the GOP embrace of candidates who are still telling the big lie is proof that our democracy is hanging in the balance. Correct. It's not semi-fascism, and Biden shouldn't have called it that. It's *actual*, full-throated fascism. The real article. Not half-baked at all.
Source: AP - 🏆 728. / 51 Read more »
President Biden announces student loan forgivenessPres. Biden announces plan to cancel up to $10,000 in student loan debt for Americans making less than $125,000, and up to $20,000 for Pell Grant recipients. First, the U.S. Gov should not be incentivizing college with attractive loan offers, thus artificially raising the price. Second, regulate private loans to eliminate compound interest: I hope congress can throw this out? Thats fucking ridiculous. I rather universal healthcare or something more productive then canceling student debt. They chose to go to college, sick people didn't choose to be sick. Use your fancy degree and get a job geez. Pell Grants is free money. Makes no sense.
Source: ABC - 🏆 471. / 51 Read more »
Biden announces $10K federal student loan cancellation for many, extend repayment pauseBiden announced that borrowers who earn less than $125,000 a year, or families earning less than $250,000, would be eligible for the $10,000 loan forgiveness. Should be 100k All this does is incentivize irresponsible behavior by those who chose to take out a loan and then chose not to pay it off The only people who should be held accountable for this debt is those who willingly took on the debt This effectively punishes those who acted responsibly
Source: abc7newsbayarea - 🏆 529. / 51 Read more »
Biden to announce $10K federal student loan cancellation for many, extend repayment pause: sourcesDetails of the plan have been kept closely guarded, but borrowers who earn less than $125,000 a year would be eligible for the loan forgiveness. Another move that does literally nothing but put the burden of others on taxpayers while being useless in the longrun Yes JoeBiden will announce today his new effort to buy votes before mid-term elections. The financial illiteracy of the unsophisticated debtor, in this case, college loan holders, is, as a taxpayer, not my problem. The same as ignorance of the law is not a valid defense, ignorance of how interest is compounded is not a valid excuse nor reason for debt relief.
Source: 6abc - 🏆 250. / 63 Read more »
Biden to forgive up to $20,000 in student loan debt and extend payment pause: live updatesThe debt forgiveness will only be available to borrowers with incomes less than $125,000 and households earning $250,000 or less, according to senior administration officials Pure vote buying. This is theft from anyone who paid back their loans or never took any loans. Obama enabled this by federalizing the loan program earlier. Highly inflationary as well. 😡 If you make $120,000 or you and your wife make $240,000, you earn enough to pay your own f*****g debts!
Source: Florida Times-Union - 🏆 600. / 51 Read more »