Rumor is Biden will announce student loan forgiveness. I don’t understand the student debt issue and it’s building momentum. My twitter feed is 50% advocates for shirking responsibility to pay what you borrowed. Is there a real reason for this other than buying votes? Are college grads the neediest group? If I make $140,000 as a 27 year old engineer and have $10,000 in student debt I get it wiped out? What about those who paid off their debt? What about those struggling with more than driving an economy car like living on $11 an hour? Sigh. We could spend that money on way more important stuff. Biden to announce $10,000 student loan cancellation WASHINGTON — President Joe Biden is set to announce Wednesday that he will forgive $10,000 in student loan debt for millions of borrowers who fall below an income cap, according to sources familiar with the plan. After weighing executive action for months,the president is expected to reveal his long-awaited decision after he returns to the White House from vacation in Rehoboth Beach, Delaware. The action is also expected to include extending until January a pause on federal student loan payments – implemented during the coronavirus pandemic – set to expire at the end of this month.
It's not the dems, it's Biden. He has usurped the powers of the congress and the courts in deciding to make an executive order to forgive student debt. I wouldn't be surprised to see this get challenged in court.
Me and you. After paying off our own SL debt. I'm against this. Higher Ed needs to be revamped in some way to reduce the skyrocketing costs and huge loan burdens, but there's no just way to do that retroactively. At least not that I've seen.
I also don't approve of this as a blanket forgiveness. Revamp the criteria for Public Service Loan Forgiveness to be better and more quickly implemented (5 years vs 10 or something), and make sure that those applications are easier to file and approved more quickly. I'm fine with using student loan forgiveness as a carrot to incentivize graduates into certain careers or fields, but a blanket forgiveness is a handout to others that (as exiled stated) tax payers have to cover after millions of us have already paid off our loans through hard work and sacrifice.
Obviously President Biden must not have gotten the news. Obviously he is pandering for votes. Expectations of Student Loan Repayment, Forbearance, and Cancellation: Insights from Recent Survey Data We study a national sample of 13,423 consumers who reported high-level information about their past and current loan repayment behavior, their experience with student loan forbearance, and their expectations of future forbearance and student debt cancellation. We highlight four key findings: Three-quarters of borrowers who were making regular payments before the pandemic expected to be able to make their payments in full after blanket pandemic forbearance ends. Here's a link to the survey data. Expectations of Student Loan Repayment, Forbearance, and Cancellation: Insights from Recent Survey Data
Just stupidity. Are we going to cut a check to all those who chose an alternate path because they knew they couldn’t afford it. And who make less than 125k. Talk about feeding the red base.
Who's gonna pay back all those PPP loans that were forgiven? Or the debt we accrued for all the military hardware we simply left as trash in Iraq and Afghanistan? Give me a break on this line of argument.
And if you want a 'real' answer, it will be all the interest earned on other student loans lol. That's how loans work!
Does make me wonder if this type of pandering actually works. I mean if you got what you wanted prior to the vote what more could possibly be offered to get people out of their seats and into the voting booth.
Its always interesting to see people that want leaders to support the concerns of every day working class Americans until it personally costs them money or gives someone else a benefit they didn't get.
Student loan forgiveness is just another attempt to buy votes via income redistribution. This time the income is coming from working class to benefit college educated. The focus shouldn't be on student loans, It should be on the outrageous tuition that 'nonprofit' colleges are charging for education that doesn't prepare students for real jobs.
"I am outraged that somebody else is getting this benefit that I didn't!" I'll never understand that sort of selfish outlook on life. It ain't hurting the people complaining about it. And it will help some folks.
Ha ha. Then how are you not a Trumper? I think that’s their central plank. I think it’s stupid but has the upside to buy some votes and energize young people while being more legal than just giving them free barbecue.
I think of it more from an opportunity cost perspective. Is it the highest priority?. For God’s sakes man, we have jets and tanks to buy. Or maybe something more productive. : )
Why is motivating people to vote for you by delivering actual stuff a bad thing? Classic Democrat brain is thinking that is somehow cheating. Thats how politics should work. Sure beats the normal Democratic message of "we cant actually do anything for you, but would you rather see a Republican in charge?"
