Posted on 03/06/2023 7:59:53 PM PST by E. Pluribus Unum
Last month, the left-leaning Urban Institute published a new report that examined the consequences of the Biden administration’s proposed changes to student loan repayment rules. Not surprisingly, their analysis finds that the generous changes to repayment rules will result in the program shifting from its intended purpose, to provide a safety net to borrowers who struggle to repay their debt, to a giveaway program for most students who borrow. Specifically, their analysis indicates that less than one-quarter of borrowers would ever repay their debts in full under the proposed regulations.
This new report comes on the heels of a similar analysis from another left-leaning think tank, the Brookings Institution, which showed how severely the proposed changes will affect the share of borrowed dollars that ever get repaid to the taxpayers who financed these loans in the first place.
The proposed changes impact a program generally known as Income-Driven Repayment (IDR), a system for loan repayment that allows borrowers to make reduced payments when their income is low and ultimately have their loans forgiven if they remain outstanding for more than 20 years. In these repayment plans, borrowers make payments that are determined as a set share of their “disposable income” (which is defined by regulation) and borrowers with exceptionally low income are off the hook from making payments altogether.
(Excerpt) Read more at washingtonexaminer.com ...
FJB needs to be investigated and impeached for this crap. THE BIATCH BROKE THE FRIGGIN’ LAW!!!
So, what's new?
This is the real goal, the supreme court case is just a decoy.
He’s a dictator that doesn’t have time to explain himself to us little people
Murdaugh is in prison because he killed 2 members of his family.
But, he would have spent most of the rest of his life in prison, just for stealing money from his law firm and from his clients. How’s that any different from what Biden is doing by stealing money from the American people to give it to the undeserving?
Biden has to be impeached for breaking the law. NOW and Tomorrow.
Why did I ever repay mine and my wife’s student loans?
Is the debt forgiven, or is he still trying to forgive it, planning to do so, but the Supreme Court might still put the kibash on that plan?
Just want to know how to interpret the headline before clicking through.
So the government has incentivized not working as a tool to obtain loan forgiveness.
So basically this is saying that borrowers don’t have to repay loans.
Unbelievable. This would never be allowed in any other scenario.
Catastrophic medical bills and credit card debt? Disabled through no fault of your own and can’t pay mortgage? Have a new car with payments and lost your job? Don’t worry! Don’t pay!
This diaper-wrapped POS needs to be gone....impeach this bassturd NOW!!!
FJB
Sneaky Dictator!
No poor people who did not go to college are paying for womens debt.
No way that this could be kept quiet. If this was possible the SCOTUS would not be wasting its time. Has to be fake news.
It also sets a precedent and thereby expectations for the future for all.
a beautiful Marxist dream in America.
The title of the article is not in sync with the text.
“The proposed changes impact a program generally known as Income-Driven Repayment (IDR), a system for loan repayment that allows borrowers to make reduced payments when their income is low and ultimately have their loans forgiven if they remain outstanding for more than 20 years.”
The rules change is not said to be in place yet.
Mama always said, “why do I have to pay for this ? The freeloaders make more money than I do or ever will and they didn’t pay for theirs ?” Mama was right
Income-Driven Repayment guess who benefits from this. This was the plan all along, just add this to reparations affirmative action and the DEI agenda. The majority of working families predominantly white will never see a dime but will pay for it
Ping
Just like losers on Section 8 housing. They pay a pittance ‘rent’ amount each month based on their disposable income. EBT funding (SNAP, AFDC, etc. aren’t part of that income.)
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