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Biden Admin to Wipe Out $1.2 Billion Federal Student Loan Debt (AGAIN?)
Epoch Times ^ | 02/21/2024 | Bill Pan

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 ...


TOPICS: Crime/Corruption; Government; Politics/Elections
KEYWORDS: biden; corrupt; debt; studentloans
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Never mind the courts have said he can't "Forgive" (aka write off) these debts. Vote buying just getting cranked up.
1 posted on 02/21/2024 1:46:44 PM PST by TheBattman
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#ing Rats


2 posted on 02/21/2024 1:48:54 PM PST by Gene Eric (Don't be a statist! )
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To: TheBattman

Only if you’re working for the government.


3 posted on 02/21/2024 1:55:26 PM PST by TornadoAlley3 ( I'm Proud To Be An Okie From Muskogee)
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To: TheBattman

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.


4 posted on 02/21/2024 1:57:56 PM PST by stanne
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To: TheBattman

How much of that $1.2 billion was hunter’s school loan?


5 posted on 02/21/2024 1:59:38 PM PST by farmguy ( IH8ny)
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To: TheBattman

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.


6 posted on 02/21/2024 1:59:54 PM PST by Cowgirl of Justice
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To: TheBattman

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.


7 posted on 02/21/2024 2:04:37 PM PST by T. P. Pole
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To: TheBattman

Never mind the courts have said he can’t “Forgive” (aka write off) these debts. Vote buying just getting cranked up.

xxxxxxxxxxxxxxxxxxx

buyden going for the boomer votes

will offer restitution on all college loans paid off since inception of the program.


8 posted on 02/21/2024 2:11:51 PM PST by thinden (buckle up ....)
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To: TheBattman

They don’t wipe it out. They just transfer the burden to the innocent.


9 posted on 02/21/2024 2:14:39 PM PST by EnderWiggin1970
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To: TheBattman

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.


10 posted on 02/21/2024 2:18:12 PM PST by Secret Agent Man (Gone Galt; not averse to Going Bronson.)
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To: EnderWiggin1970

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.


11 posted on 02/21/2024 2:19:37 PM PST by Secret Agent Man (Gone Galt; not averse to Going Bronson.)
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To: TheBattman

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.


12 posted on 02/21/2024 2:30:08 PM PST by FlingWingFlyer (John Oliver is a racist liberal biatch.)
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To: TheBattman

courts say he can’t... then he goes ahead and does it without any repercussions.


13 posted on 02/21/2024 2:38:06 PM PST by sten (fighting tyranny never goes out of style)
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To: TheBattman

What enforcement options does SCOTUS have for its rulings?


14 posted on 02/21/2024 3:09:34 PM PST by reviled downesdad (Some of the lost will never believe the Truth and will hate you for it.)
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To: TheBattman

This loan forgiveness really burns me. Paying off 2 school debt loans really thru a wet blanket on my ability to save money.


15 posted on 02/21/2024 3:12:09 PM PST by reviled downesdad (Some of the lost will never believe the Truth and will hate you for it.)
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To: TheBattman

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.


16 posted on 02/21/2024 3:42:05 PM PST by From The Deer Stand
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To: TheBattman

Must buy votes Must buy votes ... where’s my ice cream cone?


17 posted on 02/21/2024 3:46:16 PM PST by antidemoncrat
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To: reviled downesdad

US Marshall’s Service under DOJ and Garrick. So nothing


18 posted on 02/21/2024 3:50:02 PM PST by keving (We the government )
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To: TheBattman

A Billion here, Trillion there. What could possibly go wrong? Not like they have problems when audited or anything.


19 posted on 02/21/2024 3:52:31 PM PST by Dan Zachary
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To: TheBattman

MY MORTGAGE IDENTIFIES AS A STUDENT LOAN!


20 posted on 02/21/2024 4:00:01 PM PST by Gay State Conservative (Proudly Clinging To My Guns And My Religion)
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