Posted on 08/25/2022 5:38:46 AM PDT by Red Badger
Joe Biden unilaterally announced massive forgiveness of student loans Wednesday afternoon, as reported by The Gateway Pundit.
An estimated $300 billion of loans up to $10,000 per borrower making under $125,000 per year ($250,000 for couples) as well as up to $20,000 for Pell Grants will be forgiven by the Biden administration citing a new interpretation of the 2003 HEROES Act by Biden admin lawyers that say the secretary of Education has the authority to use national emergencies–specifically the COVID pandemic–to wipe out student debt en masse.
Schumer: “With the flick of a pen, President Biden has taken a giant step forward in addressing the student debt crisis by canceling significant amounts of student debt for millions of borrowers.”
Joe Biden claimed ‘canceling’ student loan debt (AKA transferring the debt to the middle class) won’t have any “meaningful effect on inflation.”
“Independent experts agree that these actions taken together will provide real benefits for families without meaningful effect on inflation,” said Biden.
Following Biden’s announcement of a federal student loan forgiveness program, Americans are having issues logging into StudentAid.gov.
Watch the video below:
VIDEO AT LINK!...................
Business Insider reported:
Thousands of borrowers flocked to the FSA website to check their loan balances, reports say.Twitter users share their error messages and memes with FAFSA’s official account.
Student loan borrowers reported frustrating error messages Wednesday as they tried to log in to the Federal Student Aid (FSA) website following President Biden’s decision to forgive up to $20,000 per student.
Not long after the one-time loan forgiveness was announced, tech outage tracker Downdetector began racking up thousands of reports that the FSA website was experiencing an outage.
Of those users, 79% said they were having trouble logging in, while 18% reported that it was the website overall.
The FSA office acknowledged the high amount of traffic with a message on the homepage.
“A lot of people are interested in our website. As a result, some pages may take longer to display than usual. Thank you for your patience,” the message read.
Those hoping to troubleshoot could call the FSA hotline to speak with a real person for help – but the live chat feature was inaccessible if you couldn’t log in.
I wonder how far $300,000,000,000 would go on the boarder wall?
All the way to to Guatemala.........................😎
It used to be that a college degree meant something and gave you a leg up on your career. Want ads would often include "bachelor's degree" as a requirement. Nowadays, smart employers filter out college grads and look to hire those who have actual work experience beyond assembling sandwiches at Chipotle.
The problem is that everybody goes to college nowadays which means that having a college degree is no longer special. It is no longer a distinction that separates you from other applicants in the workforce. What matters now is the skills and experience you bring to the table and now it is those who didn't waste four years in college that have the leg up.
How is it that Biden can do this ?? When did our system allow a move such as this being made without some congressional oversight/approval??
It is allowed by the Education department under the auspices of the pandemic and war. In other words, they are misusing the law.
Racked up $10,000 in student loans (plus another $5,000 in interest and penalties because I wasn't paying them back).
Fast forward a decade to 2006 and I get a phone call from a collection agency that they're going to garnish my wages if I didn't start giving them some money. Knowing that a wage garnishment could damage the security clearance I had at work, I came up with a payment plan.
For the next ten years I paid $125 a month, fully paying off this debt in 2016.
What a chump I was.
Easy.
He's doing this under federal emergency statutes granted to the executive branch.
What's the federal emergency?
Covid, of course.
Where the hell is my degree? Or your degree? Since we are giving some dead beat kid a degree for free, we should have one given to us for free.
And of course the repubics sit by and stare into space
They knew this was coming. They should have prepared a legal team to research and prepare a case for an interested party to sue. The lawsuit should have been made today.
I will not hire anyone who has their loan forgiven. And I’m sure it probably would be illegal, but I would try to find out which employees had loans forgiven and would fire them too.
If they can’t meet their commitments I don’t want them working for me.
The biggest mistake by Trump was declaring a ‘national emergency’ on the b.s. covid situation. It is the vehicle used to lurch toward totalitarianism, especially in the ‘blue’ states.
What a chump I was. I paid $125 a month, fully paying off my student debt in 10 years.
Golly, Biden’s a real uniter.......uniting chumps, freeloaders and loan defaulters......all at once.
And leave hundreds of billions of bucks, if not over a trillion, in endowments untouched...
SPOT ON. I wouldn’t hire those Bums either. Sadly I’ve seen too many jobs that have listed as the #1 requirement is a Bachelors Degree. STEM or Medical fields it’s understandable.
However, I believe that it’s in all the new SQUISH Degree Diversity & Inclusion BS fields is where the vast majority of this debt resides. Lazy pukes want free school and $100K/yr jobs for doing nothing. Enough of the Participation Trophies already!
Little bass turds want everything to be FREE. The morons don’t understand that somebody has to pay for their freebies. They can afford the latest cell phone and watch that tells you how many steps you walked today but they can’t pay for four years worth of spring breaks. Jo Jo the Pedophile clown isn’t paying for their so-called socialist “student loan forgiveness.” The government isn’t paying for it. THE HARWORKING AMERICAN TAXPAYERS ARE BEING FORCED TO PAY FOR COLLEGE FOR THESE MORONS. If they had paid attention in middle school and high school, they wouldn’t need that extra four years of trying to learn something. Jerks.
Even Pelosi said it was not in POTUS power to do.
This amounts to spending money Congress has not authorized him to do. And a HUGE AMOUNT!.................................
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