Posted on 08/23/2022 10:00:57 AM PDT by SeekAndFind
President Joe Biden could announce a decision on wide-scale student loan forgiveness as soon as Wednesday, CNN is reporting.
The president is reportedly leaning towards a plan to dismiss $10,000 in federal student loans for borrowers earning less than $125,000. Eligible borrowers would include those with federal Direct Loans, FFELP Loans, Perkins Loans, Parent PLUS Loans and Grad PLUS Loans. Borrowers with private loans would be excluded.
The plan has not been finalized and it subject to last-minute revisions, according to the report. It is similar to earlier White House proposals, though Biden had previously backed an income cap of $150,000.
Biden has canceled some $32 billion of student loans since becoming president.
Repayment of student loans has been on hold since March 2020, the start of the COVID pandemic. It’s been extended several times but is set to expire Aug. 31, meaning millions of borrowers could find themselves again making monthly payments on Sept. 1. CNN is reporting the White House is expected to address the pause in the coming days.
(Excerpt) Read more at msn.com ...
You made the debt. Pay it. Get a job!!
Oh, a slight reduction in slave debt supported by debt-based fiat currency. How noble!
Just buying more midterm votes with your tax dollars...
BOHICA... Those loans won’t be “forgiven,” they’ll be paid off with taxpayer money. My damn money. No loads.
This is so wrong, and my wife and I still have these loans.
What budget item allows this??
/rhetorical
If it is such a good idea, why stop at $10,000? Why cap it at $125,000?
/rhetorical
Perhaps it is because the democrats want to buy certain voters?
Simpletons.
Got to secure his base, which is blue-haired millennials with five cats and a useless gender studies degree.
Biden’s giant F’ you to the working class.
You cannot “forgive” a loan. Somebody pays.
And in this case, it’s you.
I can’t imagine this is a good issue for votes. The kids that vote will vote Democrat and this will upset honest people of all political stripes who paid their loans.
It sure should.
Prosecute Team Biden for ELECTIONEERING, AMONG OTHER THINGS like “aiding and abetting illegal immigration” for example.
Slaves gits an extra hour sleep on Sundays they duz since Massa Joe runs da house.
My daughter is in college. I worked and saved to pay for her college. She’s not taken out any loans. We get $0.00 in financial assistance or aid for her college.
If zhao biden announces $10,000 in student loan forgiveness, I will be taking out a federal parent student loan for $10,000 when she is a senior and i will NOT be paying it back.
I would suggest everyone else follow.
Once that door is opened the demand for full forgiveness will increase dramatically and they will cave and do it.
And by the way, that $10,000 debt forgiveness is income and is taxable by both the IRS and state.
Half the people will say “cool”.
The other half will say, “Screw Biden. I paid my loan off, why shouldn’t they.”
How can the government just give away money? It’s discriminatory.
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