Student debt has ballooned
According to the Federal Reserve, borrowers collectively held more than $1.5 trillion in student debt in the second quarter of 2022. Student debt is the largest consumer debt category after mortgages.Data from the Education Department shows that more than 45 million people hold federal student loans, with more than half owing less than $20,000. Approximately 14.6 million borrowers owe up to the $10,000 forgiveness cap, although those that earn more than $125,000 annually would be ineligible.
Source: Education Headlines (educationheadlines.net)
Has anyone taken NOTICE that Joe Biden held this trump card in his pocket and played it right before Elections are about to take place.
Student Loan Forgiveness = Pandering to Black voters. Free Stuff & Free Money = More Black Votes.
Most of them rich white man!!!!
Many economists including Larry Summers, Janet Yellen, all the White House advisers, and Joe Biden’s doctor wife herself, Jill Biden absolutely disagrees with this student forgiveness!
It's about handouts that transfer debt to tax payers and buying votes.
Biden is systematically destroying America financially.
Yeah it should read loan forgiveness costs responsible Americans thousands of dollars to repay for losers. No fucking dropouts shoukd see a dime of that money but since the RATS are giving it away im sure there will be massive fraud involved
Dems cheer as the gov admin transfers billions of taxpayer Dollars directly to the big banks. Increasing inflation, prolonging the upcoming recession and helping to raise tuition costs for future students. Buying votes rather than fixing the issue for future generations.
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APESlate Money talks student loan debt, Dan Price, and AMC. Good episode. I went from mostly ambivalent to mostly in favor on forgiveness. Back in 1978-1982 Pell grants paid almost all my tuition. Tuition was $620 a year. I received $600 a year in Pell grants. Working part time for Sears, and a wife who worked, we needed no student loans after Pell grants. Yea, I'm an old Boomer, but it was enough in the day.
Source: Slate - 🏆 716. / 51 Read more »
Advice | Students, don’t count on loan debt forgiveness ever happening againAdvice: This fall, millions of high school seniors will begin applying to college for the 2023-2024 academic year. One wonders if they might overextend themselves with the expectation that they, too, will someday not have to repay part of their loans. Colleges will increase tuition by $10k We’re being fleeced by democrats buying votes DO NOT FALL for the false 'american dream' Payday loan structured LOANS plan. Learn from my experience! LESS College/MORE trades!! I could see forgiving the interest on these loans, but why should the taxpayers front the bill for individuals that are lacking in responsibility and show no accountability for their actions.
Source: washingtonpost - 🏆 95. / 72 Read more »
How many Utahns will benefit from student loan forgiveness? And how soon?Collectively, Utahns with outstanding federal student loan debt owe about $10.2 billion, or over $33,000 per person. More than 100,000 of them are eligible for relief under the plan. But BasedMikeLee said this was only going to benefit Californians living in their Hollywood producer dad's basement with PhDs in Gender Studies! You mean to tell me this is actually benefiting 100,000 Utah voters? waytogobrandon What is the total amount of PPP loan forgiveness in UT? Total amount of bankruptcies by state legislators?
Source: sltrib - 🏆 316. / 61 Read more »
Florida couple who paid off $190k in student loan debt in 27 months 'angry' over Biden's handoutCristina and Sherman Merricks call Biden's student loan handouts 'unfair' and coming at a cost to their children after working to pay off $190,000 of student loan debt. They should be. They worked their rear off to do that and it was for nothing now. Wha. Whine about it. Its not for you if you can pay it off that quickly. 1. Clearly they could afford it. 2. Canceling $10,000 of student debt was a campaign promise President Biden made in 2016. Maybe they should have been paying attention.
Source: FoxBusiness - 🏆 458. / 53 Read more »
The real polarization in the United StatesBy shifting the burden of paying back $20,000 from each person who incurred student loan debt to taxpayers, Team Biden exacerbated the political polarization of the United States. OpEd OpEd Wish I could read it
Source: WashTimes - 🏆 235. / 63 Read more »