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Trump’s Election Killed Loan Forgiveness for Millennials
James G. Martin Center for Academic Renewal ^ | February 19, 2025 | Peter Jacobsen

Posted on 02/19/2025 6:47:43 AM PST by karpov

As Joe Biden’s presidency ends, it’s clear his record makes him the most aggressive president in history on student-loan forgiveness. His Department of Education

* extended the COVID-19 interest-accumulation freeze;

* introduced the new SAVE plan, which offered unprecedented interest forgiveness;

* began the process of blanket forgiveness of up to $20,000 for borrowers.

The second and third initiatives were so aggressive that the judicial branch ultimately blocked them.

And, although student-loan forgiveness was not the headline of every speech by Vice President Kamala Harris, it was clear to voters that Democrats were the way forward for removing student debt.

Harris’s defeat, then, sends a clear message. Student-loan forgiveness is dead—at least for the foreseeable future. It’s pretty safe to say that the majority of millennials have almost no chance to see it.

There are two major reasons why this is so. First, the basic math must be considered. The youngest millennials are around 28 years old. That means the average millennial who has gone to college has already graduated.

Any millennials who graduated before 2020 and went to the workforce have already paid one or more years into their loans. Loan payments were paused in 2020 and remained paused until early this year.

(Excerpt) Read more at jamesgmartin.center ...


TOPICS: Education; Government
KEYWORDS: college; loans; ripoff; studentloans
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1 posted on 02/19/2025 6:47:43 AM PST by karpov
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To: karpov
Trump’s Election Killed Loan Forgiveness for Millennials

There's no such thing as loan "forgiveness". Banks forgive nothing. Biden was just trying to get US taxpayers to take on the college loan debt of his supporters.
2 posted on 02/19/2025 6:51:07 AM PST by AnotherUnixGeek
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To: karpov

Forgiveness of debt , sticking it to the tax payer by EO, media had no problems with that. But trump trying to cut fraud and waste is an “outrage”. Good grief we are at war against relentlessly evil stupid people.


3 posted on 02/19/2025 6:51:44 AM PST by Professional ( )
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To: karpov

They weren’t going to get it anyway. Just another fake from Biden’s puppetmasters.


4 posted on 02/19/2025 6:52:41 AM PST by anton
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To: karpov

Sounds like tourism to Europe is about ready to come off the rails.


5 posted on 02/19/2025 6:54:32 AM PST by FlingWingFlyer (The U.S. Government was never meant to be a jobs program.)
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To: karpov

People of legal age knowingly signed legal documents to borrow money. It doesn’t matter if you made a bad decision or don’t like the deal or didn’t even finish college. You borrowed the money, you have to pay the money back. This is not hard. Making stupid decisions is supposed to be painful. That is how some people learn to not do other stupid things.


6 posted on 02/19/2025 6:55:18 AM PST by rigelkentaurus
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To: rigelkentaurus

This. No one holds a gun to your head and tells you to go to college. There are hundreds of thousands of unfilled jobs out in the real world that can be filled by people WITHOUT a degree.


7 posted on 02/19/2025 6:57:35 AM PST by woweeitsme
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To: karpov

What’s so special about college students that they need their loans ‘forgiven’?
Borrowers need to payback their loans period. What they need to address is bringing down the outrageous cost of tuition. These college institutions propagandize the minds of students against the ‘evils of capitalism’ all the while collecting big profits off the backs of the students and Uncle Sham’s loan subsidies.


8 posted on 02/19/2025 7:00:12 AM PST by tflabo (Truth or tyranny)
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To: karpov

Loan forgiveness = You’re paying for the two-digit IQ “student’s” worthless studies degree.


9 posted on 02/19/2025 7:00:32 AM PST by Da Coyote
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To: karpov

Probably killed car loan forgiveness and mortgage forgiveness too. Dang!

Sarc/


10 posted on 02/19/2025 7:01:09 AM PST by FlingWingFlyer (The U.S. Government was never meant to be a jobs program.)
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To: karpov

It was always dead.

Here’s a fact, liberals: Democrats love to push policies they know will never be implemented, because it gives them a permanent issue to run on.

Congress is never going to issue blanket loan forgiveness. There aren’t enough votes, even if the Democrats had a majority there wouldn’t be enough votes.

The courts have blocked it as being against the law.

Biden knew this. He just played you to get your votes.

Had Biden taken a more middle of the road approach, like allowing the loans to be discharged in bankruptcy, he could have gotten it through congress and signed into law.

But, the Democrats don’t want to fix the problem, because that removes an issue they can run on.

BTW, the Republican did this with abortion for decades. Always promising to do something to get the pro-life vote, and then not doing anything.


11 posted on 02/19/2025 7:01:54 AM PST by Brookhaven (Ted Cruz said Jan. 6 was terrorism; don't forget that the next time you vote.)
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To: karpov

I spent a lot of time living near Penn State and the students who were getting loans were throwing money around like you cannot believe it was really a great time for them I could actually see money laying on the ground I guess now it’s time for the rubber to meet the road.

also the university would provide PhDs in basket weaving if that was a hot topic but they were never interested in finding jobs for these people just taking the money and getting fat off the money the students were getting from the government. Maybe the university endowment fund should cough up some money to help these poor individuals.


12 posted on 02/19/2025 7:06:31 AM PST by Herakles (Diversity is applied Marxism )
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To: karpov

I had student loans, so did my kid brother. W came out of a large, poor family and those loans were the only we managed to get our engineering degrees.
Both of us paid em off according to the terms and conditions set forth in the loan agreements that we personally signed.
The only “loan forgiveness” that either one of us ever got was when we made our final payments and received a “paid in full” document notice.
These little cottled wimps today need to face reality that the world doesn’t owe them a damn thing, especially loan forgiveness that they voluntarily signed onto.
IF I sound “tough and harsh”, yeah, I am and a better man for it.


13 posted on 02/19/2025 7:06:59 AM PST by lgjhn23 ("On the 8th day, Satan created the progressive liberal to destroy all the good that God created...")
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To: karpov

Notice that the SCOTUS ruling it unconstitutional is not mentioned as killing it, because of course Biden was ignoring them and doing it anyway. So it was illegal in the first place.


14 posted on 02/19/2025 7:11:24 AM PST by pepsi_junkie ("We want no Gestapo or Secret Police. F. B. I. is tending in that direction." - Harry S Truman)
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To: karpov

Trump didn’t have anything to do with student loan forgivness. Biden had no authority to forgive the debts in the first place. Article sounds like BS to me.


15 posted on 02/19/2025 7:14:56 AM PST by abbastanza (Oh boy. Can't wait. Go nuts kids)
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To: karpov

Good! They were adults when they signed those contracts, just as I was. I paid my loans back in full, and so should they. I can only imagine how seriously pissed people are who DIDN’T take out loans, and are expected by Dems to chip in to pay off debts that they didn’t incur and which never benefited them in any way.


16 posted on 02/19/2025 7:16:00 AM PST by Ancesthntr ("The right to buy weapons is the right to be free." The Weapons Shops of Isher)
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To: karpov

Do these people realize - they are debt-slaves to Fed.gov?


17 posted on 02/19/2025 7:16:05 AM PST by PGR88
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To: karpov

Good.

L


18 posted on 02/19/2025 7:18:23 AM PST by Lurker ( Peaceful coexistence with the Left is not possible. Stop pretending that it is.)
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To: karpov

The Federal gov’t shouldn’t be in the loan business in the first place. If the individual cannot qualify for a personal loan, letting the gov’t provide the “loan” isn’t a loan at all. It’s a transfer payment paid for by taxpayers. Also, since the benefits of the education accrue directly to the individual, let them pay for those benefits. And don’t give me this “but-an-educated-populace” make better decisions claptrap. The fact Biden got elected in a crooked election is more than enough proof that there are a lot of shallow thinkers out there who vote by party line, rather than by using their brain and knowing the facts supporting an issue.


19 posted on 02/19/2025 7:26:38 AM PST by econjack
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To: karpov

Forgiving student loans was a trigger for me. My wife and I paid ours back, and we scrimped and saved to get our 2 kids through college. This program essentially rewarded irresponsible behavior.


20 posted on 02/19/2025 7:32:51 AM PST by krug
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