Biden administration is canceling $1.2 billion in student-loan debt for 153,000 borrowers

So you don't want americans to be educated.

 

Bankruptcy gives someone an out
Student loan debt doesn’t

 

Oh the cost of education is also outrageous

Tennessee has a great program that makes all community college free for anyone without a degree. It’s a very well liked program and the degrees are more focused on stem and trades.

America needs something like that. That way we have a public and a private option — but we need to get the government out of the private option.

I think we need to do something similar with healthcare. Have ”free” medical treatment where the government can negotiate costs and a private version.

 

You’re assuming the loans are by choice….

 

They announced this eons ago. They just come out once a month patting themselves on the back as a new wave of borrowers get their golden emails, which also pisses off all those older borrowers still waiting and waiting and waiting who have been shoved to the back of the line in the program that was supposed to help them the most. Rumor is going around that they aren't going to make their July 1 deadline either and will be delaying the IDR adjustment yet again to the end of the year (which will be like the 6th or 7th time they've missed their announced date for completion)

 

Those people "working to support their own families" pay taxes based on their income. Without student loan relief, they would still be paying the same based on their income.

Anyway, the system has been screwed up for a generation. The income-contingent payment program they started in 1994 really drove a lot of people off a financial cliff. You never knew what your payment was going to be year to year; you didn't know what your interest rate was going to be until after you consolidated them, they were capitalizing unpaid interest more often than they should have been, nobody was bothering to even count how many total payments on your loan had been made, and servicers were taking people out of payment for extended periods when their payments were supposed to just be lowered. The servicers were also just counting the number of payments made to them and as your loans moved around among servicers those payment counts got reset to zero each time, and if you paid an amount other than what they said was due each month, some servicers weren't counting that as a payment toward your required number. One of the biggest SMH stories I have read was a woman was rounding her payments up every month to the next whole dollar so the servicer didn't count a single one of her payments toward the required 120 payments under the terms of her public service program and she did not know this until she called after the 120th payment to find out when her scheduled discharge would happen and was told after 120 more payments.

 

What crappy degree did you get that you can't pay your loan back?

 

Biology degree. It’s not about whether I can pay it back the question is….why?

 

Why, is because you agreed to the terms. It is your responsibility not mine in the form of taxs I pay to service your debt. I already payed for both of my kids college I do5need to pay for slugs who got crappy degrees.

 

interesting

Pelosi Says Biden DOES NOT Have The Power To Cancel Student Loans

https://rumble.com/v1zb9mj-flashbac...t-have-the-power-to-cancel-student-loans.html

 

interesting ..... I smell a dictater running the US like a communist country....

https://www.supremecourt.gov/opinions/22pdf/22-506_nmip.pdf

Supreme Court on Friday struck down President Biden's groundbreaking plan to forgive some or all federal student loan debt for tens of millions of Americans. The high court ruled that federal law does not authorize the Department of Education to cancel such student loan debt.

 

And he didn't cancel any debt under that program. He is doing it under the congressionally approved rules-making authority of the Department of Education that the GOP couldn't block ( https://thehill.com/homenews/educat...ew-student-loan-income-driven-repayment-plan/ ) and the legal challenge went nowhere fast ( https://www.nasfaa.org/news-item/31...rative_Fixes_to_Income-Driven_Repayment_Plans )

 

Under that repayment plan, borrowers pay back their loans as a percentage of their income and have the remainder cancelled after a certain number of years. Borrowers using SAVE who took out $12,000 in studnet loans or less are eligible for debt relief after 10 years of payments.
...
From your link.
For those who took out 12K or less?? And paid for 10 years?
And according to your link, can even spell studnet correctly. NOTE STUDENT.

What a farse.

 

Biden DOES NOT Have The Power To Cancel Student Loans. He is doing it through "more than two dozen executive actions."

 

Clearly you are wrong and typing in caps doesn't change that. $138 billion so far and still going strong. I am guessing it will be at least twice that amount by the end of the year.

 

Biden DOES NOT Have The Power To Cancel Student Loans and the SCOTUS has made that determination and the repayment plan is a twist on existing income-based plans created by Congress more than a decade ago. He is doing it through "more than two dozen executive actions."

 

And another irony here is that democrats want to squeeze every dollar they can out of people in the form of taxes, yet here they are throwing money away.

 

TIL trying to forgive massive student loan debt = dictator things

 

Guess what? You ain’t the only person in the world paying taxes, and who exactly is paying student loan debts off that no one is prepared for, meant to help? How is society at large benefiting from loan debt? What am I getting out of this ****?

 

The SCOTUS has not heard anything about these plans. Try harder to grasp victory from the jaws of defeat. That one case was a ruling on whether he could do it under the HEROES Act authority. No more, no less. He has since used other authorities the SCOTUS has not ruled upon, including the National Education Act, going through the normal regulatory processes authorized by Congress before implementing them and crafting rules that boo hoo denied all these education haters standing to challenge them in the process.

 

So peoples education is throwing money away.

 

If those educated people aren't educated in a subject that will allow them to make a living and support themselves while being able to pay back the money they borrowed, then yes, the money was thrown away.

 

Prove it.

 

The GOP are the ones trying to squeeze more money out of people by making student loan forgiveness taxable in their state. The irony is Biden is giving people the chance to opt out of forgiveness. Can't wait to see numbers on how many people actually have opted out.

 

If the GOP or anyone really cared about it’s citizens, student loan debt wouldn’t exist, period.