Posted on 07/18/2024 4:41:08 AM PDT by Oldeconomybuyer
The Biden administration on Thursday said it is forgiving $1.2 billion in student debt for 35,000 borrowers who work in public service, ranging from teachers to firefighters. The announcement marks the latest round in government loan relief after the Supreme Court last year blocked President Joe Biden's plan for broad-based college loan forgiveness.
With the latest student loan forgiveness, the Biden administration said it has waived $168.5 billion in debt for roughly 4.8 million Americans, according to a statement from the Department of Education. That represents about 1 in 10 student loan borrowers, it added.
The people who qualify for forgiveness in the latest round of debt cancellation are part of the Public Service Loan Forgiveness (PSLF) program, which is designed to help public servants such as teachers, nurses and law enforcement officers get their debt canceled after 10 years of repayments. While PSLF has been around since 2007, until recently very few borrowers were able to get debt relief due to its notoriously complex regulations and often misleading guidance from loan companies.
But the Biden administration has overhauled the program's rules, enabling more public servants to qualify for forgiveness.
Some parts of the Biden administration's plans to provide more relief were thrown into turmoil last month when two courts issued temporary injunctions against the Biden administration's flagship student loan repayment plan, called the Saving on a Valuable Education, or SAVE, plan, which currently has about 8 million enrollees.
Despite the injunctions, student borrowers can still continue to enroll in the program, according to the Education Department.
(Excerpt) Read more at cbsnews.com ...
It is the Democrat Way, buying votes.
I just hope this illegal scheme pisses off all of the tax payers who are suddenly stuck with the bill for all of the useless degrees.
By what authority is he doing this? I thought that the Supreme Court had already ruled that he doesn’t have the authority.
Biden bribing for votes.
So, Old Joe wants to buy votes
WITH MY TAX DOLLARS!!
What ever happened to getting elected by spending the donors’ money who support you, and leaving the rest of us schmucks out of your plans?
I personally enjoy subsidizing all those Lesbian Studies majors. Because they contribute so much to society, it’s worth it.
“Here’s who qualifies…” Employees at Starbucks who majored in Women’s Studies or 14th Century French Art
Another benefit for government employees
More lawless action by the worst admimistration in history
The title is misleading. He forgives nothing. He’s transferred the debt from those who agreed to it to those who didn’t. If he really wanted to solve this problem, he’d address it with the schools and lenders.
Your tax dollars at work compliments of vote-buying Sleepy Joe.
Very well stated!
There is also general consensus, here, that he is buying votes but, I believe, a misunderstanding in whose votes are being bought.
This is throwing taxpayer money at the universities and their “professors”. The “students” have the worthless degrees that they didn’t pay for, but the former have a source for the outlandish tuitions they have received - for doing nothing.
This is always the name of the game - how to get a paycheck (from the taxpayer) for doing nothing. It is better still to “further the cause”.
Maybe workers should not fund universities?
The students don’t realize they’ll pay for it in higher taxes for the rest of their lives if they get a job
No, the debt hasn’t been forgiven. He doesn’t have the power of the purse.
Nice take.
more lawlessness from Biden ignoring the Supreme Court.
Biden already had the votes of anybody even potentially getting their college loans forgiven. I think he is actually losing votes because of more people becoming aware and angered by these giveaways. Should the electrician or the garbage collector pay for the college loans owed by the grievance studies majors?
Who qualifies??? Everybody but YOU.
Is this deal retroactive? My wife and I paid ours off back in the 80’s. I sure would like to get a check in the mail so I can afford to go to the grocery store and buy some milk, eggs and bread.
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