Posted on 04/11/2024 11:18:49 AM PDT by ChicagoConservative27
President Biden’s new student debt relief plan is estimated to cost around $84 billion if it is implemented, according to a Penn Wharton Budget Model (PWBM) analysis released Thursday.
PWBM analyzed the five components of Biden’s proposed plan, totaling the initiatives to $84.06 billion that could be implemented before the November election.
The biggest cost of the plan is Biden’s proposal to cancel up to $20,000 for all borrowers who have a balance that has grown due to unpaid interest. Borrowers who qualify for the SAVE plan or other income-driven repayment (IDR) plans would get all of that balance wiped out.
This would give partial or total relief on unpaid interest growth to more than 25 million borrowers, costing an estimated $57.75 billion, according to the budget model.
(Excerpt) Read more at thehill.com ...
Why isn’t that bass turd locked up!?
Send the bill to the Demo-effing-cRAT party. Jail all of the vermin until the entire bill is paid.
This money is coming from where again???
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Some from taxes and the rest from EITHER people willing to buy treasuries OR The Fed buying up the privately unpurchased treasuries. The politicians don’t sweat the debt...only the political consequences of inflation.
Pile on the taxpayers, this, illegals, higher school taxes for the illegal students, higher medical expenses because of free healthcare for illegals, higher taxes to bail out Ukrainian pensioners, Biden is running the train off the track.
Even I could beat him for President with all the Silver plate issues he’s giving us. Really, only the GOP could lose this easy a race.
This forgiveness of loans due to hardship to me is the final act in the complete failure of the education system.
Good question.
The loans are NOT forgiven, they are paid by unwilling US taxpayers. 💸💸💸💸💸💸💸💸
To finance Biden’s election.🤬
Time to reign all lending programs in. Schools need to be held accountable. Analysis of who’s paying their loans and who isn’t should initiate denials if the likelihood of repayment doesn’t justify the loans. The whole system is corrupt in so many ways. There are some who game the system by staying in school for further degrees in order to delay payments, simply building more debt. Enough of subsidizing gender studies and other politically correct but economically unviable “education.”
Tax payers the left will tax you to death
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