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 ...
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.
They weren’t going to get it anyway. Just another fake from Biden’s puppetmasters.
Sounds like tourism to Europe is about ready to come off the rails.
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.
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.
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.
Loan forgiveness = You’re paying for the two-digit IQ “student’s” worthless studies degree.
Probably killed car loan forgiveness and mortgage forgiveness too. Dang!
Sarc/
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.
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.
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.
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.
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.
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.
Do these people realize - they are debt-slaves to Fed.gov?
Good.
L
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.
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.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.