The plan will forgive up to $20,000 for borrowers who received Pell grants in college and up to $10,000 for those who didn’t. It will also keep the pause on payments in effect until Dec. 31.
#studentloanforgiveness #relief #biden #abcnews #abcnlupdate
Original source (ABC/Youtube)
Student loan payouts/vote purchasing is RACIST, mostly pro rich white kids, and economically and socially irresponsible. Yet another trillion $ printed money to reduce the value of the dollar and pile onto our unsustainable debt. Will anyone want to pay off a loan from now on?
This is like the stimulus checks. When you file taxes the IRS won’t allow you to get a tax benefit because they put it towards your income. Watch out students! You’ll be paying it back for many years.
Please address the possibility of universities RAISING TUITION in response to its changes to the student loan system. Also, please address the cost of books!
Wow another DUMB move.. whats next?
Transferring Debt to already frazzled hard working Americans
No complaints when the most wealthiest got TENS OF MILLIONS in PPP loans forgiven…🤯😧….yeah forgot about that uh!
Twenty thousand will give me a 8,000 tax debt
It's a shame that AOC needs welfare. It's a shame Americans who can make $100k and drives a Tesla needs welfare.
Another shakedown by the rich of the hard working Americans who're bailing out the wants of the left, a bad precedent that says no consequences for irresponsibility. Whats next, cars? Chinese electric cars painted green w pot juice and a free pronouns matter bumper sticker
Theft from the poor to the rich. Thanks Biden, ya dingus
Isn't it interesting that $10,000 forgiveness is like rubbing SALT deduction into my wounds.
300 billion (lone forgiveness) ÷ 329 million (population US) = 911.85 per person × 2 actual tax paying citizens = $1,823.70 your burden.
No one compained about the ”unfairness” of these bailouts:
Farmers bailed out by Trump
Banks bailed out by Obama and Trump
Automakers bailed out by Obama
S&Ls bailed out by Reagan
Banks bailed out by George W Bush
Airlines bailed out by Obama and again by Trump
New York City bailed out in the 1970s
Or handouts in the tax code. Are THESE unfair:
carried interest loophole
mortgage interest deduction (tax payers subsidize rich people's mortgages)
SALT tax cuts (other tax payers pay for state and local tax deductions for the wealthy)
multiple “subsidies” paid by taxpyers that go to BIG CORPS – no one asks how those are paid for.
So, ALL those things are fair and don't have to be paid for but a tiny fraction of the budget going to bail out student loan borrowers with NO hope of catching up in a permanently low-growth economy – well, THAT'S UNFAIR!!!!
can you spell: h y p o c r i t e ?
(Hint: Some people chose to do work that is not rewarded by our society like art, teaching, counseling. But those are so low paid, many of us regret the loans because we'll never make enough to pay them back in a society that does NOT value our contributions. The student loan borrowers who went into lucrative jobs and COULD pay back, please don't be so angry with us. We went into art and teaching and got screwed. Please understand that it is fair for us to get some help when all those industries got some help too. We contribute to society but don't get rewarded – that is not fair. So what do you want to do? Did you scream “UNFAIR” at all the bailouts listed above for industry and the wealthy who DON'T NEED IT? I bet you did not.)
Same people crying about this are the same people forgetting that people with food stamps are eating lobster and steak while the working man eats spaghetti
Think this is a good decision?
Let’s say someone calls you asking for $2,000 to help pay off this debt!
Who would be stupid enough to write that check!
Hear ye Libtards: Comparing student loan debt forgiveness to PPP loan forgiveness is at best lazy and at its worst utterly dishonest. The government interfered with free market forces in order to “control” the spread of Covid. Forcing businesses to cease operations and subsequently lay off employees would naturally demand compensation. The PPP loans were implemented for just that reason, with the stipulation that if used for their intended purpose, they would be forgiven. No one forced you to take out a student loan, and there was never a stipulation that they would be forgiven on someone else’s dime. It’s not our fault that you spent tens of thousands of dollars on a useless gender studies degree so you can sip lattes and sleep in nap pods at your equally useless tech job. You could have gone to trade school and graduated with a good paying job waiting for you that actually benefits society. You could have served in the Armed Forces and had your tuition paid. You could have gone to work for the federal government and had your loans forgiven that way. Or, and this might sound crazy- you could have paid off your debts by working hard like everyone else. Now you Armchair Socialists decry the unfairness of a system that forcefully obtained taxpayer money and reallocated it to you so you could better yourselves, and then demand those same taxpayers foot the bill when you don’t want to honor your obligations. Instead of recognizing that government subsidies contributed to the skyrocketing costs of tuition, and failing to see how this “forgiveness” will add kerosene to the current bonfire of inflation affecting all of us, you remain steadfast in your resolve that “The World Owes You Something”. Seems awfully selfish coming from “Selfless Socialists”. No one owes you anything and you are responsible for you.
This is patently ILLEGAL and must be challenged in court. It is theft. When a person takes out a loan, that person makes a contract between the loan giver and the loan receiver. An outside person or people CAN NOT be required to take on the responsibility of the loan receiver to pay back the loan WITHOUT THE WRITTEN CONSENT AND AGREEMENT OF THE OUTSIDE PARTY TO ENTER THE CONTRACT. This is more Biden law breaking and bullshit that can not be allowed.
Dead on arrival once we yank power away this November. Go pay your own damn debts.
Student financial aid is the biggest con job in the history of the world. Colleges and universities raked $1.5 Trillion dollars over the course of 20 years. Financing tuition allowed colleges to con students into borrowing money for their education. Money that students and their families really didn’t have. Once borrowing happened the flood of cash allow universities to continually raise professors salaries. College presidents were making $1 million a year. Governors across the nation were frustrated that the price of a college education rose faster than inflation.
I’m so excited it puts me closer to buying a house lowers my debt to 12k left
How do I get my refund……I paid the whole bill for my two boys at a private college and never made over $150,000.00. P.S……still working at 68.
Lets stop finding the cure to cancer because it's not fair to all those who have already suffered from it!
We worked hard to pay for my kids to go to collage. We sacrificed doing and having things to save money for this. Now I am being told I should not have done that. Each of my three children could have gotten $20k to start their lives but instead I am paying for somebody else. Somebody else I don't even know and who could be bothered to save for this. This is completely unfair. I hope the Biden Admin will pay me back the $60k that he owes me.
If the student loan forgiveness plan only wipe out student loan debt for a 3rd of people then a lot of people still owe which means the problem isn’t solved.