Posted on 04/20/2022 4:58:49 AM PDT by Kaslin
The 2020 Democratic presidential primary race was a bidding war in which the various candidates advocated spending trillions of dollars to enact sweeping progressive agendas. Some agendas were a bit more sweeping than others, but they all amounted to unprecedented increases in federal spending.
Take the issue of student loans. Bernie Sanders, the most progressive of the contenders, wanted to cancel all $1.6 trillion in student debt -- just throw out all student loans for 40-plus million Americans and somehow make Wall Street pay for it. Elizabeth Warren pledged to forgive everyone's student loans up to $50,000. And Joe Biden, the most cautious of the bunch, promised to "forgive a minimum of $10,000 per person of federal student loans."
But here's the thing: It didn't happen, and yet no American with student loan debt has had to make a payment -- any payment -- for more than two years. It is all in the name of COVID relief. And it is still going on.
It started in the Trump administration. When Congress passed the first COVID relief bill, in March 2020, it paused student loan payments until September of that year. Then-President Donald Trump extended the pause until Dec. 31, 2020. Then the Trump administration extended it again, through the end of January 2021, by which time Joe Biden would be president.
Since then, even as he touted the improving economy -- the job market is hot these days -- Biden has extended the loan repayment pause time after time. On April 6, a couple of weeks ago, he did it again. "If loan payments were to resume on schedule in May," Biden said in a statement, "analysis of recent data from the Federal Reserve suggests that millions of student loan borrowers would face significant economic hardship,
(Excerpt) Read more at townhall.com ...
It's a gigantic swindle to funnel money from the Federal government to universities and colleges, laundering the $$ though "borrowers" who are 100% not presented with anything resembling full disclosure of the type taht occurs with a mortgage, a car loan, or even a credit card.
Four of my kids have bachelor's degrees, two are in college now, one more coming along. Zero loans.
However, at least two have had "Grants" or "scholarships" placed on their accounts without signing anything that were actually loans obliging them to pay them back at some time in the future.
It actually proved difficult to get rid of them. "Nobody has ever not wanted this free money before".
If I were a lawyer, I would look seriously at a class action suit to recover damages from the "student loan" process (from the colleges) and from the lender for fraud.
EVERY policy initiative issuing from the WH is designed to buy votes. And at the same time to exceed the votes lost from the same policies.
The easy availability of loans has fueled monstrous inflation in the cost, or rather the cash price, of a university education.
It’s somewhat like health “insurance”. I recently had an accident which involved one ER visit, a couple of scans, and two followup visits with a specialist.
The “patient responsibility” portion of my bills is less than 20% of the “cost”, but it’s more than enough to pay 100% of any fairly derived true cost.
In other words, the “insurance” payments, though large, are to support the “system”, not to take and read my CT scan.
In the same way, the student “loan” is paying the difference between true cost and cash price.
Talked to daughter about this who does have small college debt on “pause”. She indicated it’s a ploy to get votes and then post-election the rug will get pulled out from under the gullible AGAIN....and she believes people should pay their debts, not taxpayers.
EVERY policy initiative issuing from the WH is designed to buy votes. And at the same time to exceed the votes lost from the same policies.
No. People will take whatever he gives them and vote for someone else. Unfortunately they get away with massive election fraud, so that needs to be fixed.
Not if he can’t pass it through both houses, and he can’t.
I think it’s going to happen.
“We have established what you are, madam. We are now merely haggling over the price.”
BINGO!
But...
...has the INTEREST been piling up all this time?
Isn’t this government lending already. I thought Obummer changed all higher lending to come from fedzilla.
Yeah...I’m old and dealt with all the financial stuff for kids’ college way back 25 years ago. I had to go check when someone else here told me. As of now, the Fed owns 92% of all student debt. My bad. So it’s not the Fed - it’s US.
Gimme, gimme
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