Posted on 02/21/2024 1:46:44 PM PST by TheBattman
A total of $1.2 billion in federal student loan debt will be automatically discharged for 153,000 borrowers enrolled in President Joe Biden’s “most generous ever” repayment plan, the U.S. Department of Education said on Wednesday.
To be eligible for the latest round of student loan debt cancellation, the borrowers must be enrolled in the new income-driven repayment (IDR) plan, dubbed SAVE, have been making at least 10 years of payments, and have originally taken out $12,000 or less for college.
For every $1,000 borrowed above $12,000, a borrower can receive debt discharge after an additional year of payments. For example, those who had an original principal balance of $13,000 can now have their remaining balance wiped out if they’ve been in repayment for 11 years.
(Excerpt) Read more at theepochtimes.com ...
#ing Rats
Only if you’re working for the government.
Why didn’t the courts say the Obama administration couldn’t have the federal government take over the student loan industry back in 2009?
Thats where this mess started.
They moved in, gave exorbitant amounts to college admin straight from the govt, colleges increased tuition rates, they act now as if they have nothing to do with indebting most of pur young adults, they increased the sizes of their admin departments, reduced the quality and freedom of education
Where were the courts then?
Colleges have no obligation to produce a valuable service, no responsibility to assist in job security, or acquisition
It’s an Obama scam that now they’re in huge trouble over
Young people must be polling terribly for the rip off antiamerican democrats for them to be revisiting this.
How much of that $1.2 billion was hunter’s school loan?
I wouldn’t be surprised if he burned down the White House on his way out.
He is human trash.
His entire family from now on will forever be remembered as being from the loins of a pedo traitor.
Let me do the math - less than 12,000, with 10 years of payments = 1,200/year, or 100/month. These folks should be pretty close to zero balance in the first place.
Never mind the courts have said he can’t “Forgive” (aka write off) these debts. Vote buying just getting cranked up.
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buyden going for the boomer votes
will offer restitution on all college loans paid off since inception of the program.
They don’t wipe it out. They just transfer the burden to the innocent.
Particularly women and minority votes.
They hold the vast majority of student loans, and also the vast majority of worthless/low value/low paying degrees.
They transfer it to men. Over their lifetimes, as a group, men pay in more than they take out. Over their lifetimes, women as a group, take out more than they pay in. Men are the taxpayers.
These younger generations are born worthless deadbeats. They want EVERYTHING. They just don’t want to pay for anything. Uncle Sam is now Mommy and Daddy Sam.
courts say he can’t... then he goes ahead and does it without any repercussions.
What enforcement options does SCOTUS have for its rulings?
This loan forgiveness really burns me. Paying off 2 school debt loans really thru a wet blanket on my ability to save money.
What a sham. Screwed would be those who lived up to the loan contract and made their loan payments, not to mention the taxpayers who have to subsidized the college flunkies.
Must buy votes Must buy votes ... where’s my ice cream cone?
US Marshall’s Service under DOJ and Garrick. So nothing
A Billion here, Trillion there. What could possibly go wrong? Not like they have problems when audited or anything.
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