Having to pay these guys for their degrees in gender studies...
And that's not right.
Buying votes ain’t cheap
REDISTRIBUTION OF WEALTH, from the worksters to the wokesters.
Taxation without representation!
I have issues paying for democrat vote buying schemes that I am forced to pay for.
Was reading that California is going to tax the loan payoff
funds.
Maybe Biden can pay that too.
What a mess.
Graduate X would see her loan balance go from $7000 to $0.
Graduate Y would see her loan balance go from $217000 to $197000 (or $207000).
Having to pay these guys for their degrees in gender studies...
And that's not right.
A more rational scheme might insist on college paydown matching.
The $217,000 gal might get $30,000 in help from her alma mater matched by $30,000 in federal funds.
This makes the forgiveness more need-based and brings in matching college help, so its not all on the taxpayers.
Harvard can afford to kick in $30,000.
A small price to pay to make the U.S. the world leader in Underwater Basket Weaving.
A small price to pay to let the Democrats increase their love index with the TikTok generation.
If you want to graduates to be able to buy a house, the federal government could suspend loan repayment until paycheck period buyer income increases exceed the loan repayment amount(s) for the period.
If the homebuyers have $110,000 in annual income and $13,000 in loan payments, they would not have to start repaying until their annual income is at least $123,000.
I’m just putting this out as a possibility. In my day, we paid, period.
> will cost taxpayers an average more than $2,500 per year <
That calculation certainly does not include the inevitable fraud and mismanagement. So I’m guessing that the final number might be closer to double that.
“Obstructing an official proceeding is a felony under U.S. federal law. It was enacted as part of the Sarbanes–Oxley Act of 2002 as a reaction to the Enron scandal, and closed a legal loophole on who could be charged with evidence tampering by defining the new crime very broadly. It later became known for its use as a charge against defendants associated with the 2021 U.S. Capitol attack for attempting to obstruct that year’s Electoral College vote count.”
https://en.wikipedia.org/wiki/Sarbanes%E2%80%93Oxley_Act
I found that while searching for the requirement that mortgagees must lend only to mortgagors likely to be able to repay.
I think that students loans above $10,000 in any one calendar year or on top of $50,000 should also be subject to repayment ability analysis.
And that’s including the people who would get the paydowns.
And no one sees the irony with this? Especially the LSM?
WRONG!!!
IT will cost every man, woman, and child $2500.
It will cost every TAXPAYER (people that actually work and pay taxes) over $6000 each.
There has to be reform in student loan lending, since it is true many graduates are in over their head.
I should also mention that I read that about half of the would-be recipients have loan balances of less than $10,000.
We are not talking about the usual Marxism here; we are talking about vote buying. Biden is crossing the Rubicon. Biden is politically poisoning what he considers to be our “democracy”.
I have to dispute the $2500 figure. There are just 2 cases to consider:
Case 1: if they didn’t spend it on tuition they would have spent it on something else just as useless.
Case 2: The real case. Since they don’t have that money they will need to print it. For material they will whole cloth and The Fed. Inflation will inch up and stay with us forever. That’s how long we will be paying for this nonsense.
thats per year, for how many years?
Heck, they don’t even have to print money anymore. It’s all electronic. Add a couple of zeroes, take away a couple of zeroes from your account balance.