Posted on 08/25/2022 3:54:51 PM PDT by Tolerance Sucks Rocks
On Wednesday, President Joe Biden announced his administration would cancel $10,000 in student debt for many borrowers, while extending a pause on monthly loan payments through the end of the year.
For students and young people in Pittsburgh, it should have been a cause for celebration; but just hours after the announcement, reactions skewed negative as left-leaning activists argued the president should have honored his campaign commitment to cancel all student debt. Meanwhile, Republicans chided Mr. Biden for what they see as the president bowing to the progressive movement.
“In my opinion, it’s not enough,” said Allie Holler, a University of Pittsburgh graduate student with around $80,000 in loans. “I hate to be one of the people saying that, because it looks like a lot of people are happy about this plan. But I just feel like more could have been done, and $10K was the bare minimum.”
According to a fact sheet issued by the White House on Wednesday, the $10,000 in federal loan cancellation applies to those making under $125,000 per year — a move that would benefit 43 million borrowers who hold a large share of the country’s $1.7 trillion dollars in student debt.
Two-thirds of these borrowers are under 40, the White House said, with most debt cancellation going toward people making under $75,000 per year.
In addition, the administration intends to offer $20,000 in debt relief for Pell Grant recipients, who come from some of the lowest-income brackets and must pay back the grant if they don’t complete their degree.
(Excerpt) Read more at post-gazette.com ...
The moronials are the last generation that will be able to survive unaware in lala land. Gen ZZZZ and beyond are about to learn what the world is really like when you no longer stand on the shoulders of giants
Hey Hey!
Ho Ho!
Gimme money gimme mo’!
Gimmee gimmee gimmee
Entitled, spoiled $hits.
I don’t see any talking heads taking this up yet: the timing was political and the administration delayed so long that a backlash grew and is being widely stated. The result is far less than the base wanted and, as they been taught, they’re not grateful, rather they’re pissed off by it. In short, incompetently handled by the administration. Natch . I don’t think this gives the rats a bump at all.
This seems really odd.
Some are angry at Biden because the debt relief offered just wasn’t enough.
Inwonder if Joe ever anticipated such a reaction.
“In my opinion, it’s not enough,” said Allie Holler, a University of Pittsburgh graduate student with around $80,000 in loans. “I hate to be one of the people saying that, because it looks like a lot of people are happy about this plan. But I just feel like more could have been done, and $10K was the bare minimum.”
University of Pittsburgh has an endowment of $5.68 billion. The endowment increased $1.5 billion the past two years.
At 5% per year, the endowment spins of $285,000,000.
Why aren’t schools forced to use at least 5% of their tax free endowments to pay tuition costs??
There is a song by Hall and Oates called “possession obsession.” A great tune, with great music, excellent production, but a terrible video. Seems appropriate here. Give a proverbial “inch” and it is never enough. Anyway here is the tune, off their “Big Bam Boom” album, https://www.bing.com/videos/search?q=posession+obsession&view=detail&mid=1793061FED2B916C96071793061FED2B916C9607&FORM=VIRE0&ru=%2fsearch%3fq%3dposession%2bobsession%26form%3dQBLH%26sp%3d-1%26pq%3dposession%2bobsession%26sc%3d10-19%26qs%3dn%26sk%3d%26cvid%3dA2AECCB0D7F34E93B27E97C33944FE09%26ghsh%3d0%26ghacc%3d0%26ghpl%3d
I feel sorry for these kids if they ever undergo truly serious difficulties like those their ancestors did.
I do not agree with ANY aspect of this giveaway. But if I only have 10 grand to forgive between either an engineering grad or a fine arts grad, who do you think warrants the forgiveness? The engineering grad probably paid back most of the loan within a year of graduating. It is the moron fine arts grad that is whining 10 grand is not enough. I rather burn the money than turn it over to him/her/xe
Absolutely nobody!
I hope they are using parents income to use in determining the 10 grand. Reason is because most parents have to co-sign the loan for their brats to even get the loan.
That’s the plan! It’s a bribe. Vote for us in 2022 because we may just cancel all of your remaining school loans if you vote for us in 2024. Get out the base!
It is too much.
I dunno.
My undergraduate education (MIT) was financed by a combination of scholarship grants, loans, and jobs. My graduate (Ph.D.) education at Harvard was financed entirely by fellowships, so I incurred no further debt.
I had to make annual payments on my loan during graduate school (ouch!) and post-doc. When I started teaching at a university, the annual loan payment was forgiven for every year that I taught. That was a provision of the loan from the beginning and applied to all teachers from kindergarten through grad school. After several years of teaching (in which I mainly did research), the loan was considered paid off, and I was debt free.
Loans are a much bigger part of financing education now than they were in my day, so university graduates (unless they had fellowships or scholarships) are burdened by debt. That is especially true if they had “woke” educations that don’t fit them for the world of work. And I don’t know if there are any provisions for loan forgiveness for any kind of teaching or community service.
So along comes worthless biden, attempting to buy votes with loan cancellations (passing on the cost of the loans to the rest of us). No wonder that the recipients of the loan forgiveness think that it is not enough!! I hope that these people will be disgruntled enough to vote MAGA Republican!!!! They probably won’t, but we can always hope!!
About 2 years now I’ve said In God We Trust has been replaced by I Want My Government Money.
” “A democracy cannot exist as a permanent form of government. It can only exist until the majority discovers it can vote itself largess out of the public treasury.”——
Alexander Fraser Tytler
Gimme more o dat!
Members of Congress (still can’t believe they are) Rashida Tlaib and AOC declared $50,000 was better.
A POX on every single one of them........
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