Posted on 08/30/2022 12:28:14 PM PDT by jeff_clark
Blacks tend to owe more in student loans than whites do.
For one, every school in America will admit any black who can mostly spell their name right. As such, blacks gravitate to more expensive, prestigious schools (where they often drop out).
Second, blacks often have to take out private loans, which are not covered under this loan "forgiveness" plan due to criminal convictions, which make them ineligible for government Pell grants.
Under Biden's plan, whites are likely to see most if not all of their debt wiped out while blacks will see only small percentages of theirs wiped out, while continuing to owe much more.
So Larry has a point...
Senile Sleepy Joe's student loan debt "forgiveness" is mostly "financed" by the tax money paid by working-class Americans who maybe didn't go to college and also paid by Americans who paid off their student loans in addition to paying off their children's student loans.
So basically the senile Sleepy puppet's handlers have decided that:
And senile Sleepy Joe's handlers continue to claim -- with a straight face -- that all of that is totally just and fair to all Americans and that it has absolutely, positively nothing at all to do with the upcoming election.
Larry Elder’s right.
The bulk of the money goes to the kids of white liberal elites AND the checks will be written out to the colleges and universities THAT ARE THE BIGGEST DONORS TO THE DEMOCRAT PARTY. (White Liberal Elites of Academia)
Reparations for rich people?
“To address the financial harms of the pandemic for low- and middle-income borrowers and avoid defaults as loan repayment restarts next year, the Department of Education will provide up to $20,000 in loan relief to borrowers with loans held by the Department of Education whose individual income is less than $125,000 ($250,000 for married couples) and who received a Pell Grant.
Nearly every Pell Grant recipient came from a family that made less than $60,000 a year, and Pell Grant recipients typically experience more challenges repaying their debt than other borrowers. Borrowers who meet those income standards but did not receive a Pell Grant in college can receive up to $10,000 in loan relief.”
Yes, but Biden doesn't care. He's got 93% of the black vote no matter how much Democrat policies screw black people.
This is about getting younger whites to the polls in November, the ones that tend to sit out midterm elections.
It's all a shameless vote grab.
Totally agree. Race has nothing to do with this fiscal madness. The root of the problem is the college scam. I’d like to hear potential solutions for that instead of fairness and race arguments.
“Larry Elder Slams Biden’s Student Debt Forgiveness Scam as ‘Reparations for Rich White People’”
larry has a point ...
He’s right.
During the 2020 election year, President Trump could have similarly said he will hand out up to $20,000 each in free government money to "forgive" the student loans of specially chosen American families making up to $250,000 annually ... paid with tax money from working-class Americans who didn't go to college and also paid with tax money from other American families who already paid off their own student loans. But of course President Trump didn't do that.
2022: Free-government-money bribes for votes. Typical Democrat/RINO.
Democrats/RINOs: We'll pull every trick in the book to win every election.
Republicans/conservatives:
President Trump: WTF!
51% of people eligible for "forgiveness" under this program have student loans that were used to pursue Master's degrees.
The average income of someone with a Master's degree is $74k a year, verses the average American salary of $31k.
The two places with the highest number of qualified beneficiaries per capita are Washington DC and the DC suburbs of Maryland.
Yep. We're bailing out this class:
Should be obvious what Larry is doing here.
If you believe it’s a racist statement, it went over your head.
I think Biden’s giveaway is ridiculous but a $74K annual salary is not rich.
Stupid, but then ...
Yep
Personally, I think he’s wrong on this.
It’s the democrats buying votes.
Nope. But it's richer than $31K and these are the people who are going to be paying the loans off through increased inflation.
Someone making $74K should be able to pay off their student loans. They might have to cut back on a few extravaganzas such as $22 avocado toast delivered to their apartments but it is doable.
No arguments from me that it is absurd program. But the rich bashing angle is lame.
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