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US to erase student debt for those with severe disabilities
The Associated Press ^
| August 19, 2021
| By COLLIN BINKLEY
Posted on 08/19/2021 8:38:38 AM PDT by Oldeconomybuyer
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To: Oldeconomybuyer
2
posted on
08/19/2021 8:40:05 AM PDT
by
Chode
(there is no fall back position, there's no rally point, there is no LZ... we're on our own. P144:1)
To: Oldeconomybuyer
So now anybody can declare disability and get out of debt free. No documentation needed.
3
posted on
08/19/2021 8:40:45 AM PDT
by
AZJeep
(https://www.youtube.com/watch?v=O0AHGreco RomNQkryIIs)
To: Oldeconomybuyer
There won’t be any fraud with that program.
To: Oldeconomybuyer
Most people with Ph.Ds are retarded, so this is helpful.
5
posted on
08/19/2021 8:41:05 AM PDT
by
struggle
To: Oldeconomybuyer
Erase debt? No, this passes it on to taxpayers.
To: Oldeconomybuyer
The federal government offers student debt relief for people who are “totally and permanently disabled” and have limited incomes. But the current rules require them to submit documentation of their disability and undergo a three-year monitoring period to prove they’re earning little pay.
Tens of thousands of people have been dropped from the program and had their loans reinstated simply because they failed to submit proof of their earnings, however, and critics say the complex rules deter some from applying.
already a solution in place but they don’t like it.
7
posted on
08/19/2021 8:41:29 AM PDT
by
PeterPrinciple
(Thinking Caps are no longer being issued but there must be a warehouse full of them somewhere.)
To: Oldeconomybuyer
This was ALWAYS the goal of nationalizing student loans that Obama and Pelosi demanded.
Destroying the country by tricking people into getting worthless degrees and gritting communist colleges into power centers for the communist revolution.
8
posted on
08/19/2021 8:42:51 AM PDT
by
Skywise
To: Oldeconomybuyer
Money has no value. No big deal.
You know, the Democrats should give a massive tax cut to everyone: marginal rate: 0%. It wouldn't make any difference. While they are at, increase the Federal budget to $48 Trillion per year. Just pulling a number out of my ass ... the same logic Democrats use.
9
posted on
08/19/2021 8:44:35 AM PDT
by
ConservativeInPA
(“When injustice becomes law, resistance becomes duty.” ― Thomas Jefferson)
To: Oldeconomybuyer
Severe disabilities like gambling addiction, obesity, ADD, etc... What are these “severe” disabilities? I know you can get social security benefits for gambling addiction...I could not believe it when I saw it on TV.
10
posted on
08/19/2021 8:44:51 AM PDT
by
frogjerk
(I will not do business with fascists)
To: Oldeconomybuyer
I’d prefer that along with a loan, the borrower much purchase both a term life policy and a disability policy so in the event of death or disability taxpayers get their funds back.
11
posted on
08/19/2021 8:44:54 AM PDT
by
1Old Pro
(Let's make crime illegal again!)
To: Oldeconomybuyer
I predict a pandemic of limping people.
12
posted on
08/19/2021 8:45:03 AM PDT
by
Migraine
To: Oldeconomybuyer
Will being African American be considered a severe disability?
What about being a woman (trans or regular)?
13
posted on
08/19/2021 8:45:17 AM PDT
by
Salman
(It's not a "slippery slope" if it was part of the program all along. )
To: Oldeconomybuyer
Why were they given loans in the first place?
Oh, right, because they’d never have to repay them so long as they continued to not make much money, this just jumps the three year process.
14
posted on
08/19/2021 8:45:43 AM PDT
by
kingu
(Everything starts with slashing the size and scope of the federal government.)
To: Oldeconomybuyer
Totally unconstitutional. Discriminatory, OBVIOUSLY!
15
posted on
08/19/2021 8:47:02 AM PDT
by
CivilWarBrewing
(Get off my back for my usage of CAPS, especially you snowflake males! MAN UP!)
To: T.B. Yoits
Erase debt? No, this passes it on to taxpayers.
Actually, the taxpayers have already paid for it. The question is does the government now write-off the bad debt like a business would, or does it continue to pay government bureaucrats to attempt to collect on uncollectable debts? Counting uncollectable debts as assets helps hide the national debt, and it also gets used to increase the U.S. Dept. of Ed's budget. A reasonable business person would just write off the bad debt at some point in time, but government does things differently.
16
posted on
08/19/2021 8:48:06 AM PDT
by
Dr. Franklin
("A republic, if you can keep it." )
To: Oldeconomybuyer
maybe we shouldn’t lend money to students that are so disabled they have no ability to earn a living and pay it back? Nah, thats too obvious.
To: Oldeconomybuyer
He can just do this without Congress etc? We have no say as usual.
You can’t break the laws of economics without consequence. It’s coming......
18
posted on
08/19/2021 8:49:56 AM PDT
by
xenia
("In times of universal deceit, telling the truth becomes a revolutionary act." George Orwell)
To: Oldeconomybuyer
Somebody has to pay that debt.
Won’t be democrats buying votes with this dunbsh&t idea
19
posted on
08/19/2021 8:51:00 AM PDT
by
stanne
To: Oldeconomybuyer
In February 2022, the folks whose debt is forgiven will receive a 1099-C from the bank holding the debt. It will indicate the lump sum value of the total amount forgiven as taxable income for the current tax year. They will owe Federal, Social Security, Medicare, and probable State taxes on this amount, on their April 15 returns.
The squeals will be music!
20
posted on
08/19/2021 8:53:43 AM PDT
by
Sgt_Schultze
(When your business model depends on slave labor, you're always going to need more slaves)
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