Posted on 04/26/2022 11:09:23 PM PDT by knighthawk
Joe Biden is considering reneging on a campaign promise to cancel limited amounts of student debt, and is now mulling far more substantial coverage of the $1.6trillion in debt owed by 43,000 people.
Biden alluded to his plan during a meeting on Monday with the Congressional Hispanic Caucus, where he told Rep. Tony Cardenas, a California Democrat, that he had plans that would please the group.
The president previously supported canceling up to $10,000 of debt per student, but is now said to be open to forgiving a larger - if unspecified amount.
(Excerpt) Read more at dailymail.co.uk ...
Daily mail having some math failure there? Or do they really think that US universities charge 37 million a pop?
Giving tax payer money to buy votes is not being generous. It is bribing some voters by robbing others.
So. In a meeting with the Congressional Hispanic Caucus......is the Congressional Black Caucus next? One can imagine just what the ‘qualifying factor’ for full loan forgiveness might be.
I don’t know. Maybe it’s gotten that expensive!
Only 43,000 borrowers is puzzling. He may be referring to existing forgiveness programs (teaching in low income areas for 10 years, etc).
There are AT LEAST 7 million defaulted student loan borrowers in the United States. And like 40 million nondefaulted borrowers.
I think loan forgiveness is a political loser. . half this nation didn’t attend college and most of the other half paid their loans back or didn’t take out loans. . .
They were always going to do this, but they wanted to save this trick for 2024. They can’t really announce it around labor day so the youths who benefit will get excited and work for democrat candidates.
Will it tank the bond market? Destabilize the dollar even farther? Destroy far more 401ks than it helps people with loan debt? If it was going nothing but good, they wouldn’t be so shifty about it. They know bad stuff is going to happen.
Ihave to agree. I have actually seen liberals on another board asking what are they going to do for those who paid their loans. This could do more harm than good when it comes to vote buying.
The August deadline stems from the administration’s decision earlier this month to extend the pandemic-era pause on federal student loan payments through August 31, saving borrowers $5 billion in interest payments a month...
****That’s $5 Billion a month owed to the taxpayers. Nice.
Maybe I can get a home loan and you can give me some relief for my loan?***
And of course this is fraud against the general public who get stuck with the nation debt.
Exactly.
This $1.6 trillion should be seen as a suicide pill.
women hold most of this student loan debt.
that’s why he’s doing it.
I sure am glad I worked my arse off to pay for my college.
For all of us who worked PT and FT while going to college to make sure we didn’t take out loans and graduated, we get nothing. I didn’t party, I worked, studied and went to college. While others took out loans, drank heavily, partied and took drugs, now they want someone to forgive their loans. Oh, by the way, most of those are still renting and are struggling to find that “great paying job”.
I am right there with you and went through the same.
I had no student loans how can I get a cash rebate to cover the theft of my finances to bail out these deadbeat students?
I was doing full load (21 credit/week), working both full AND part time.
Biden and the Dems are putting the screws to the American taxpayer again.
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