I think I’ll write Dean Wormer about this. He’s a take-charge kind of guy. Maybe he can convince Biden to change his mind.
Butt, butt, butt...........promises. Oh, demonazis. Never mind.
Looks like Biden is the one who PERSONALLY isn’t so hot on forgiving student loans. This will set him up for a showdown with THE SQUAD in Congress and Bernie Sanders in the Senate.
https://finance.yahoo.com/news/biden-cancel-50k-student-loan-175000729.html
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The White House said at the beginning of April that the president asked his education secretary, Miguel Cardona, to investigate whether Biden has the authority to forgive up to $50,000 in student loans. Given that it’s been more than seven weeks, it’s reasonable to think the verdict will come soon, maybe even within days.
But borrowers may not want to get their hopes too high. In a new interview, the president makes clear that he doesn’t want to be overly generous with student debt relief.
“The idea that you go to Penn (the University of Pennsylvania) and you’re paying a total of 70,000 bucks a year and the public should pay for that? I don’t agree,” Biden says, in the interview with David Brooks of The New York Times.
Who forced these students to take out the debt? If they weren’t forced then it should not be “forgiven” i.e. bailed out by other responsible taxpayers.
Meh. Just put it back on the table before the next election. Rinse and repeat.
And repairations, likewise. :)
LOL! The banks won’t let Biden do that.
Just to make it fair, why doesn’t the US government just forgive $100,000 in debt to every citizen?
There would be no problem with that, right?
What a shame if someone delivered pallets of rocks, glass bottles of gasoline and other items near the traditional young people’s urban riot zones.
Angry young people with college debt could be motivated to action by TV ads saying Biden made a promise and he broke it.
Who knows what the rage could cause them to do.
Note: If all the above is wrong-—which it is— then how come Soros and BLM and Antifa were allowed to do all of it and “will not face prison time for riot damage.”?
Oh, yeah. I forgot. Dems skate and conservatives go to prison.
(Manafort, Flynn, Roger Stone....vs. Hillary, Huma, Bill Clinton).
What about all the millions of people who DID pay their student loans over the years? Wouldn't this be a big slap in the face to all those who were responsible enough to pay them back?
How would one feel if they had just paid off their home mortgage after 30 years of sacrifice only to find their twenty-something neighbor who moved in next door just had their mortgage forgiven?
The whole idea is stupid on the face of it.
On top of that, the SCHOOLS have been taking advantage of these generous federal loans by jacking up their tuitions and fees way beyond the inflation rate, making college unaffordable (without loans) for all but the very wealthy. The schools have been filling their coffers and endowments to the brim on the backs of these students who now find themselves under these huge loans.
They (the schools) need to be on the hook for any of these unpaid loans.
“who are carrying an average balance of $38,792”
Junior and the Little Princess will really get sticker shock when they go house shopping - $289,900, $319,995, etc.
Good, that was a promise that never should have been made in the first place.
Any idea how many young people have now driven themselves further into debt by not making any payments on their outstanding loans because ‘why bother, Biden will forgive them all, so why make any payments’?
Then if they did waive them all, the next set of graduates would immediately also not make any payments, until the next round of ‘loan forgiveness’ gets approved or promised (you know, like during any upcoming election).
College is expensive, I get it, I am now putting my 4th thru college with ZERO financial assistance, but if you want to cut down on the debt burden, cut down on the cost of attending colleges, not by waiving loans after the fact.
My local (state college btw), pays like a million a year for a sucky football coach, another 500-600K for a sucky hockey coach, professors getting 200-300K or more to teach 1-2 classes a week (mostly done by their low paid assistants anyway).
THAT is why students have so much debt. Solve the expense side of the equation and help millions of students for years to come - waive the loans, and colleges will simply raise the cost of everything - because colleges and the students that will pay the bills, will just assume another set of loan forgiveness will happen down the road.
Democrats are so stupid it hurts.
The democrats that promise things they can’t deliver and that if they did deliver would create a generation of moral hazards, and the stupid democrats that vote for them so they can get free stuff.
he needs money to pay for the programs he wants to start or expand and it looks like his big tax increase does not sit well with some of the most moderate democrats in congress. He can postpone this give away to hold on to some money for his big spending projects.
Nothing is stopping him from suddenly cancelling student loan debt two years from now after congress has either passed or not passed his big spending bills.
I think I’ll write Dean Wormer about this. He’s a take-charge kind of guy. Maybe he can convince Biden to change his mind.
Defund the universities!
Trump should troll Biden and media and come out in support of all this looney leftist crap. Their so blind from their hatred of him that they the may then advocate for the opposite position.
Canceling debt wouldn’t solve the problem of the cost of college and would just make it worse since colleges will now know that Uncle Sucker will pay them back anyway.
Another possibility is federal repayment payment matching.
If Junior pays $X monthly on his federal student loan which has a balance greater than Junior’s penultimate tax year income, federal taxpayers via Nancy/Chuck/Uncle Joe do too.
“43 million-plus student loan borrowers”
Outrageous!
There are not 43 million people in the country with enough brains to benefit from a college education!
If your IQ is below 120, do something else. College is not for you. Why take on that financial monster?
The root problem here is the ludicrous idea that some kid with a 91 IQ has to go to college to lift themselves.
No surprise here. But you can foresee the reason for the way it is being done. If Biden decides to forgive $10K of a student loan then next year in 2022 that will have to be reported as income on a 1099. Taxes on that will be coming from an admitted 42M borrowers. that will pay for a lot of gas to bus illegals north.
wy69
Hey, I paid off my school. Where the F is my money?