[Worldtraveler once upon a time]

--- "....after they have made their payments for 20 or 25 years...."

After making payments. That's the clever little PR rub.

[TakebackGOP]

This along with the Supreme Court ruling against Affirmative Action will be used to get minorities and women to vote Democrat.

[Ingtar]

Excluding the Dim Party skimming of the funds, that is $48,500 for each of those people who have been paying for 20 or 25 years. Gender Studies degrees must be expensive.

[AnotherUnixGeek]

--- "....after they have made their payments for 20 or 25 years...."

After making payments. That's the clever little PR rub.

The count doesn't start from today. Biden's plan would immediately wipe student debt for anyone who's been on the hook for 20 years. Working class folks who didn't go to college and have been paying interest on the washer/dryer set they bought right after 9/11 can go pound sand - the Democrats don't care about them.

[Organic Panic]

And with no penalties or interest deferred it means they still won’t bother paying.

[Svartalfiar]

"....after they have made their payments for 20 or 25 years...."

After making payments. That's the clever little PR rub.

I don't know.. Are there really 800,000 people who have been paying their loans for 20+ years and still have a balance (average $50M)?

To do that, you'd have to be in your mid-40s at the youngest. So pulling demo data for these US, we'll say 45 is the line since that's how most of these demo numbers are grouped. 45+ is 42% of the 333MM population, so 140MM people.

Pulling random data from Brave search, looks like ~45% of adults have an associate's, 35% have a bachelors, and ~15% have masters. So lets go with 45% at bachelor's level (15% masters adds to that +10% to associates to even out into a bachelors cost). That brings us down to 63MM people in this population group.

Several random colleges' blurbs show they generally have 40-60% of students receiving some aid. So 31MM. Actually way less since many of these are partial loans, and we're ignoring grants/GI Bill/etc also.

So out of the less than 30MM 45+ adults who received some aid, 2.5% still haven't paid them off? With a remaining balance of $50M average?!!?! (Well, $40M average. Gotta take 10% for admin costs and 10% for the big guy.)
And this is people with a history of paying their loan payments properly that still haven't paid it off, and not including people who actually did already get their balances forgiven?

I dunno, seems like 800M people is an excessively large number based on the requirements to qualify above...?