Posted on 03/23/2020 10:54:34 AM PDT by sevinufnine
House Representatives Ayanna Pressley (D-MA) and Ilhan Omar (D-MN) are proposing to cancel student debt with new legislation aimed at helping borrowers adversely affected by the coronavirus, or COVID-19.
The legislation, called the Student Debt Emergency Relief Act, proposes the cancellation of at LEAST $30,000 in outstanding debt, tax-free, and proposes that the Education Department (ED) “immediately assume responsibility” for the monthly payments of borrowers who hold federal loans while suspending involuntary collections or garnishments of wages or federal income tax returns amid the crisis.
“During this unprecedented crisis, no one should have to choose between paying their student loan payment, putting food on the table or keeping themselves and their families safe and healthy,” Rep. Pressley said in a statement. “We must prioritize debt cancellation for the 45 million student loan borrowers who are struggling to pay o
(Excerpt) Read more at yahoo.com ...
“Democrats are trying to reduce student loans by $10,000. What the hell has that got to do with the virus?” Senator Lindsey Graham (R-SC) told Fox News on Sunday. “I’m sure everybody could use more money, but I don’t want to give money to people who have a paycheck. I want to give money to people who have lost their jobs.”
ED has officially offered two options for borrowers at present: The department has dropped interest rates on student loans automatically to 0% for at least the next 60 days, and those who are having real difficulty with their loans can request interest-free forbearance from their servicer for at least two months — and require no documentation to receive it.
Additionally, if borrowers are more than 31 days delinquent on their federal loans as of March 13, their payments are now suspended. According to ED, more than 3.2 million federal student loans are more than 31 days delinquent. 7.7 million are in default.
WTH is wrong with these damn*ed D politicians, anyway?
I hate these people.
Vile creatures they all are.
Buying votes with crisis money. GOP,VOTE NO!
No. Surely people who are IN their minds will say, NO!
Dems are sickening!
No
No one forced them into their debt contracts.
I paid off my student loans and I did it when I was poor and had very little income for ‘fun’.
When do I get part of their profit when times are good for them?
Do not give a crap about student debt. NO, just NO!
People and small businesses need to pay their bills. Plus thise “kids” created their own college debt. Why should we pay for it?
Stores are hiring.
Another Angela Davis wannabe
Back to the 70’s.
What does it mean that someone was adversely affected?
Is it if they caught the virus? Or because they lost a job?
Or because they were in a lock down?
My daughter in law just paid off a 25K student loan in full.
Oh great I’m sure they will send me 30K for my two boys. This is great!! Oh wait, I’m a taxpayer that saved and lived within my means.
Vote buying
They are targeting the struggling college kids. It’s one of the few things they’re actually good at. Offering a solution that’s not a solution at all. They fail to mention to these young people the impact it will have on their taxation.
The answer is that they don’t want this crisis to go to waste.
If we can spend $7 trillion on the Iraq and Afghanistan endless wars and “nation building”, why do the “conservatives” who support those wars have such a problem with spending money in America to help strapped Americans?
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