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White House leaning toward canceling $10,000 in student loan debt for borrowers who make less than $125,000
CNN ^ | August 22, 2022 | MJ Lee and Phil Mattingly

Posted on 08/22/2022 4:25:01 PM PDT by McGruff

White House officials have been weighing -- and leaning toward -- the cancellation of up to $10,000 in student loan debt per borrower tied to an income threshold, CNN has learned.

According to multiple sources familiar with the discussions, the plan is designed to offer the forgiveness to individuals who earn less than $125,000 per year.

In addition to that baseline of student loan debt forgiveness for individuals who fall under a certain income level, administration officials have also recently discussed the possibility of additional forgiveness for specific subsets of the population, according to sources familiar with internal discussions in the administration.

(Excerpt) Read more at cnn.com ...


TOPICS: Crime/Corruption; Government; Politics/Elections
KEYWORDS: education; freemoney; votebuying
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To: McGruff

They’re just continuing to buy votes with money they don’t have. Depraved.


21 posted on 08/22/2022 4:37:13 PM PDT by Vision (Elections are one day. Reject "Chicago" vote harvesting. Election Reform Now. Obama is an evildoer.)
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To: McGruff

Ridiculous. I want a rebate...so does my son & daughter.
Liberalism is a chronic, debilitating mental disease. This is just another symptom.


22 posted on 08/22/2022 4:38:35 PM PDT by lgjhn23 (Pray for America....)
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To: McGruff

Does this mean the colleges and universities will be returning the money?


23 posted on 08/22/2022 4:39:47 PM PDT by John 3_19-21 (Still think we can comply our way back to liberty?)
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To: McGruff

Wait till the IRS declares the cancelled debt as income.

Surprise Surprise. Say hello to the tax man.


24 posted on 08/22/2022 4:40:09 PM PDT by Polynikes (Nicht geimpft Mensch 2nd Klasse)
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To: McGruff

Remember the Obamacare rules such as employing 50 people led to people getting their jobs cut?*

How about refusing a raise or bonus to make over $124,999 a year?

Korean nail salon near me had illegal marijuana growing flats at the store and precisely one under the number for the higher felony charge professional criminal level. A little low on English but they knew the law well.


25 posted on 08/22/2022 4:40:18 PM PDT by frank ballenger (You have summoned up a thundercloud. You're gonna hear from me. Anthem by Leonard Cohen)
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To: McGruff

$125,000 in some parts of the country is a pretty good income.


26 posted on 08/22/2022 4:40:47 PM PDT by The Antiyuppie (When small men cast long shadows, then it is very late in the day.)
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To: McGruff; All

LOL!!! that’s not going to make ANYONE happy! LOL

ANOTHER stupid bungling inept policy from Biden.


27 posted on 08/22/2022 4:41:50 PM PDT by Mr. K (No consequence of repealing obamacare is worse than obamacare itself)
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To: Huskrrrr

>>>Buying votes before the Midterms.<<<

You’re exactly right.


28 posted on 08/22/2022 4:42:37 PM PDT by Old Grumpy
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To: cyclotic
My kid busted his tail to pay off his student debt in one year.

He was a good boy and played by the rules. Story of my sad life.

Hope he doesn't turn out bitter and ready to explode at the Dems like me. I'm sure you raised him not to be.

29 posted on 08/22/2022 4:42:59 PM PDT by frank ballenger (You have summoned up a thundercloud. You're gonna hear from me. Anthem by Leonard Cohen)
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To: Chgogal

The Idiot in Chief and all of his coconspirator colleagues need to be promptly replaced. Every single concept they propose is without merit.


30 posted on 08/22/2022 4:44:55 PM PDT by Tudorfly (All things are possible within the will of God.)
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To: Polynikes
Wait till the IRS declares the cancelled debt as income.

Sure. Gotta keep those 87,000 new IRS agents busy.

31 posted on 08/22/2022 4:45:03 PM PDT by Billthedrill
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To: Spok

How about those who simply worked and whose parents just paid from their savings and never incurred Federal debt. And all making less than the golden amount?


32 posted on 08/22/2022 4:46:19 PM PDT by LibertyOh
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To: McGruff

He had better lean away from it, he’s already pretty hated but all those people who paid off their loans will be furious and the people who never went have to pay for those freeloaders will be beyond anger.


33 posted on 08/22/2022 4:47:37 PM PDT by McGavin999 (To shut down the border tell the administration the cartel is smuggling Ivermectin )
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To: Polynikes

Funny how the govt gives...and then takes it away. They’ll definitely have a rude awakening.


34 posted on 08/22/2022 4:48:35 PM PDT by Prince of Space (Let’s Go, Brandon! )
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To: McGruff
How do you "cancel" contractual obligations between a borrower and a lending institution?

My guess is the debt isn't actually being cancelled or the banks would be screaming bloody murder and probably rushing to court to halt it, I'm guessing the money is actually going to be paid out of your tax dollars, so the banks don't care, they get paid either way.

35 posted on 08/22/2022 4:50:12 PM PDT by apillar
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To: McGruff

More inflation, yay


36 posted on 08/22/2022 4:50:48 PM PDT by struggle
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To: McGruff

Can I have my taxes canceled if I make less then $125,000? How about $10,000 of my mortgage? They are just using my hard earned money to buy votes!


37 posted on 08/22/2022 4:53:59 PM PDT by Lockbox (politicians, they all seemed like game show hosts to me.... Sting)
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To: Gay State Conservative

🤣


38 posted on 08/22/2022 4:54:23 PM PDT by Lockbox (politicians, they all seemed like game show hosts to me.... Sting)
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To: MinorityRepublican

http://www.mouthporn.net/site/imgflip.com/i/57wvin


39 posted on 08/22/2022 4:54:47 PM PDT by rolling_stone (N'T DI)
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To: McGruff
Every penny of debt "forgiven" is a penny less in our overall money supply.

It would be a good way to make sure our recession hangs around for a lot longer.

40 posted on 08/22/2022 4:56:34 PM PDT by politicket
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