Posted on 08/24/2022 1:30:34 PM PDT by knighthawk
President Biden announced his his long-awaited student loan cancelation plan and an extension of the moratorium on payments Wednesday.
Biden was long expected to announce plans to forgive up to $10,000 in student debt for those making up to $125,000, which he did, but he threw in another provision - $20,000 of debt forgiveness for Pell Grant recipients. In addition, borrowers will not be required to pay back loans until January 2023, marking the fifth extension of the payment pause.
Pell Grants are usually not repaid unless a student drops out early or does not take the proper number of credits.
(Excerpt) Read more at dailymail.co.uk ...
D3@th by a thousand cuts.
Funny how the negative consequences of the “loan forgiveness” come out only after the deed is done.
a egg sucking dog will always be a egg sucking dog
This is a disgrace. They aren’t college grads, they’re freeloading, seltzer guzzling slobs with worthless diplomas and cellphones who only want to spend their lives hiking or riding a bicycle. IOW: Idiots.
It’s also leaves hundreds of billions in endowments untouched.
Wasn’t that nice of Deep State.
No armed IRS goons for them.
and this years incoming class gets to pay for them too...
LOL
I hadn’t even thought about INFLATION!!!
yep! this will INCREASE inflation! By putting more money in the hands of those lucky few who had debt at this moment in time.
And it will drive tuition higher in constant dollars.
And his authority to do his is what?
And how in the hell are Pell grants included? My understanding is they are grants...provided you fulfill the terms of the grant...
Someone with standing needs to sue these jerks real hard...
Sure glad I worked my butt off and paid mine. It gives me a special feeling knowing that others don’t have to honor their commitments/financial obligations.
If we had an opposition party, they would sue to stop this.
Like they could have stopped DACA, but chose not to.
Considering how many colleges and universities are mandating Covid “vaxseem” boosters for students returning this fall, and the ensuing health problems these will cause, the poor students are going to need that 20k saved in loans to pay their medical bills.
‘Sources said President Biden’s intended measure will include at least $10,000 in loan forgiveness for borrowers, who make less than $125,000 annually, as well as another payment freeze for roughly four months.’
“The $10,000 figure would be the largest forgiveness of federal student loans per individual to date.”
So our grandkids, grand nieces/nephews with real degrees and real jobs used these loans to get started or will this coming year in life post college by taking the loan their senior/last year in college to start their lives.
This will probably be their only tax break in their lives.
Here’s a thought.
STOP making these loans.
More kill the US insanity.
I put a kid though a great University and now they are in a PhD program where the school pays them. I used a number of vehicles (529) to have college funded when it was time and the kid got numerous scholarships. No debt.
Washington is insane. It’s like they love economic suicide.
No surprise.
It hurts everyone - including those it supposedly helps. They - and the rest of us - will pay this $10,000 again - many times over.
When you are paying your new increased taxes, reminisce about all those fun filled Spring Vacations and Holiday Excursions that your taxes will have provided for the irresponsible woke liberal generations.
To: artichokegrower
Banana throw.
Mitch-Pelosi banks will never let them off student “mortgages”
Mitch-Pelosi: All in
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