Posted on 06/11/2021 6:52:12 PM PDT by Libloather
Democratic lawmakers have been keeping the pressure on President Joe Biden to cancel $50,000 in student debt per borrower. Biden just told a top Democrat to keep the calls coming.
Student Debt Crisis, an advocacy organization, led an event on Wednesday to urge Biden to take action on the $1.7 trillion student-debt crisis. Senate Majority Leader Chuck Schumer and Massachusetts Sen. Elizabeth Warren - two leading lawmakers on the issue of debt cancellation - joined the event and said they had met with Biden on the issue and told him they'd be unrelenting in their push to get student debt forgiven.
"We said, 'We're going to keep at it until you do this,' and to his [Biden's] credit, he said, 'Go ahead.' He's talked about 10 thousand - that's not enough," Schumer said during the event. "We're keeping the pressure on him." -Chuck Schumer (@SenSchumer) June 9, 2021
The comment reported by Schumer is one of the few Biden has made that indicates he might be willing to cancel $50,000 in student debt.
**SNIP**
But Schumer, Warren, and other Democrats want Biden to go big on debt cancellation, and they believe he can cancel $50,000 in debt now with "the stroke of a pen."
"The time is now," Warren told Insider on Tuesday. "We know what the problem is: student loan debt is holding back tens of millions of people across this country. People who can't buy homes, people who can't buy cars, people who can't start small businesses. We need to cancel that student loan debt, not only for those people individually, but for our whole economy."
(Excerpt) Read more at news.yahoo.com ...
My daughter is in college. She has had academic scholarships cover just about everything so far, but we could probably qualify for a loan. Just let the money sit in the bank. If they forgive it, we keep it. If not, we give the money back when she graduates.
My kid did 2 years and managed to be debt free. She got two more to do at a more expensive school. She also bought her own car. Pays her own rent at school. Started buying stocks and set up a retirement fund. She got a scholarship from the retirement home she works at. I really haven’t had to help her.
Barely 21. Very proud. :-)
That sounds like a plan. Dang.
We are about to do that... and more
Trump demands China pay $10 trillion of 'reparations' to US for damage caused by COVID-19
The former president urged countries that owe money to China to cancel their debts as "down payment" on reparations.
Who said money doesn’t grow on trees
Why should people who didn’t go to college pay for those that do?
Why can’t they pay off their own bills? It was their decision.
Just incredible. I’m Watching my son work hard to save $ in advance to pay (without a loan) for his next degree. It’s going to be very expensive. Im sure he is not the only one who can do it.
Sounds like my son. He paid for his first round of school. And is making good $, so he’s saving so he can pay to go back, without a loan. I’m really proud of how well he’s doing. It sounds like you are as well.
You have every reason to be proud.
The federal government will pay the bank directly. Just like the PPP loans... they wet their whistle on that one and realized the possibilities... they can do it with almost anything
I paid $60,000 to pay my daughter’s college debt off. I doubt people like me will get a dime. At least I have no more debt.
Stay and fight.
Correct, Just like the affordable housing they always harp on but only make worse with their policies
Problem is that under the old system people would game the system by using loans all of the way through law school or medical school and then file bankruptcy to clean their slate.
They should ALL receive a check for $50,000. End of story.
Make the law where filing for bankruptcy relief can only occur after 10 years of honest attempts at paying the debt.
The fact that so much other debt, credit cards, other large loans can be forgiven while there are people right now on social security only that can’t unload the government student loans until death is beyond EVIL.
The only “fair” thing to do is just make the money-printer give each person $50,000. Use it to pay back a loan or keep it if you already paid back your loans or were not dumb enough to be tricked into getting one.
Why do you think they should have 50k towards their debt?
What makes this particular group worthy of $ vs everyone before them and who will come after and have and will pay their debts?
Yea my son is currently saving $ to head back to school and pay without a loan. This is after he just paid off a school loan himself. This loan forgiveness is ridiculous. Are people not respond for their financial decisions?
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