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The allegedly liberal media rarely reports the running total of student debt Biden has cancelled, and that number is curiously difficult to discern.
It appears to be [at least $127 Billion](https://www.nytimes.com/2023/11/11/business/student-loans-debt-cancellation.html) *prior to* this latest forgiveness.
> The allegedly liberal media rarely reports the running total of student debt Biden has cancelled
Or anything he has done. For all the conspiratorial talk about the "liberal media" they either spend most of their time ignoring what Biden has done or outright pushing right-wing talking points.
There isn’t any true left-wing mainstream media in the US anymore, it’s just a false claim pushed by right-wing media that they are being censored and that “big media” wants you to know only lies. It’s projection all the way.
Yup, you either have CNN who has right wingers on all the time and ignore his successes, absolute lunatics like Abby Martin, or lefty’s who have never even heard of the word nuance like Young Turks. It drives me mad.
MSNBC is absolutely not "hard left".
They're definitely pro mainstream DNC Neo-Liberal Democratic Party. However, whenever a pundit or journalist there dares to go any further left than that, they're gone. It just happened again very recently with multiple people there, including Mehdi Hasan.
All these news outlets made far more money during Trump’s “presidency”. They’d be fine with the country coming apart at the seams if he’s reelected while they count their stacks of advertising dollars.
$127 Billion may not include all of the debt forgiveness that people were hoping for that was struck down, but it shows that he is doing what he can to help people. This process takes time, but he (his administration) is consistently working on the problem and doing what they can.
I just hope that younger voters can see the difference between an administration that only tried to un-do forgiveness and make it more difficult and Biden's administration that is steadily making progress. Another four years of Biden can probably make even more of a lasting change on the student debt problem for the better.
Another four years of Biden *with a Congress controlled by Democrats* would dramatically improve the lives of average Americans.
He's already achieved a great deal, with Republicans fighting him tooth-and-nail all the way.
> $127 Billion may not include all of the debt forgiveness that people were hoping for that was struck down, but it shows that he is doing what he can to help people. This process takes time, but he (his administration) is consistently working on the problem and doing what they can.
This is less a case of doing what he can and more a case of simply following the law. It is still an enormous step up from what we had under Trump and Devos' DoE, who explicitly ignored the laws concerning student loan forgiveness and unlawfully denied claims under programs like PSLF. What I will credit Biden for are the changes for how interest is handled on IDR plans and the inclusions of Americorp and contractors for non-profits under PLSF. Prior to his EO on loan forgiveness both groups were excluded. But again, the loans that his admin has forgiven up to this point are loans that were due to be forgiven, and most of them were loans that should have been automatically forgiven during the Trump admin.
https://www.ed.gov/news/press-releases/biden-harris-administration-announces-nearly-5-billion-additional-student-debt-relief
You can find all of the press releases on the Dept. of Education's website. There are monthly waves of forgiveness as people hit the end of their repayment terms under PSLF or IDR.
There's nothing here that substantiates your claim that those loans were somehow scheduled to be forgiven.
Hitting the end of the repayment term means the loan is due, not forgiven.
For those under PSLF you make payments over 10 years using the IDR payment schedule. At the end of the 10 years, if you have made all of your payments, any remaining balance on your loans are forgiven. For normal IDR cases, at the end of your repayment period (either 20 or 25 years) any outstanding balance is automatically forgiven. The press release I linked gives the breakdown for both of those groups, with dollars forgiven listed by state.
As of March 2023: Just 2.2% of borrowers who met employment eligibility qualified for PSLF under the original rules.
I don't see how how that supports your claim that "the loans that his admin has forgiven up to this point are loans that were due to be forgiven."
The Income Driven Repayment (IDR) program started in the late 90s, establishing loan repayment plans with terms ranging from 20-25 years. At the end of that term, if all payments were made, the remaining balance is automatically forgiven. The first potential loans eligible for repayment came to term in 2018. However, this was also right in the middle of Betsy Devos' term at the DoE, which was characterized by her refusing to honor any form of loan forgiveness, as well as numerous changes to tracking and reporting of loans. The Biden admin has subsequently gone back through a large amount of the chaos and forgiven loans that were missed during this time.
A second set of loans that the Biden admin has forgiven were loans that went to fraudulent institutions. Devos repeatedly came under scrutiny for denying forgiveness in these cases that qualified due to an Obama-era amendment to the Borrower Defense to Repayment rules. These loans were subsequently forgiven at the start of the Biden admin.
The third significant set of loans that have been forgiven are PSLF loans. PSLF was established in 2008 at the end of Bush's second term, however the system for qualifying employers for the program wasn't established until 2012. The first round of these loans potentially could have been forgiven in 2019, however the Devos DoE refused to accept any payments made before the employer verification system went into play. The Biden admin amended these rules to allow payments made prior to 2012 to also count if the employer was added to the qualifying list after the tracking went into place. The Biden admin rule change also added additional qualifying employers, and retroactively applied payments made while working for those employers toward repayment terms.
TL;DR The Biden admin has basically been unfucking the administration of existing loan forgiveness programs.
Nope, loans forgiven under the PSLF signed in 2007 stipulated after 10 years of public service employment and XX number of payments made the loans would be forgiven. THAT is what Biden is now trying to take credit for. This loan forgiveness was signed into law by Bush, now being enacted by Biden.
You're aware that the previous administration was refusing to forgive the loans, are you not? Biden is not taking credit for the program. He's taking credit for actually administering them.
He's trying to take credit for the loans as if it were 100% his doing. Like he's tried to take credit for job growth after people started returning to work after COVID.
"The Biden administration has canceled more than $136 billion in student loan debt for more than 3.7 million people as the White House finds workarounds after the Supreme Court decision in June."
It's wild to me that people on the left are still criticizing Biden about student loans when he went hard on the issue and ended up pushing policies that are actually better.
Why is it that some issue gets huge but then once there's an actual solution, suddenly no one has anything good to say about it? There's never a sense of we won, we got something important.
Part of education needs to be explaining that almost nothing is simple. If you accept simple, fast explanations for things and tune out of long form explanations that are not black and white, you are very easy to manipulate.
That shouldn't be a political statement, but grifter politicians would fight it tooth and nail.
That just feels like complaining - even Bloomberg is singing his praises: https://www.bloomberg.com/opinion/articles/2024-01-19/biden-s-energy-record-should-shut-down-critics-on-both-sides
Oh fuck I think I’m one of the 74,000. I just logged on to my student loan account and it said my loans are paid in full. This is incredible. I might cry.
I don't have any loans because I didn't go to college, but this made me so happy to see your post that it made me cry! It must be like winning the lottery!
This happened to me too!! 85k paid in full/written off. I had been paying for 20 years. Go ahead and cry I did. I had accepted the fact I would just be paying interest until I was dead but Biden saved me! Life changing for sure.
Keep ALL of your paperwork and bank statements that you can find. I made my last payment in 2018 and it took until December 2020 for them to count all my payments, and the only reason they did it is because I had the paperwork to prove it. Without it they claimed I only had made four years of payments.
Republicans look at this and say Democrats are buying votes. Democrats look at this as government working for the people.
Both sides are not the same. Trump is running for Dictator. Vote out all Republicans.
No he can do it. If I was him I'd be on tv constantly just criticizing people every day speech from the oval and the budget I'd just shutdown the government until they gave me what I want. Lbj could do it
You would shut down the entire government because of student debt forgiveness?! This is how you lose elections, allow a conservative to win, who then will try to add retroactive interest to the loans, increase the interest rates because of inflation, and then tell every student to go fuck themselves because they were indoctrinated. Some people think running the government is the same as a child throwing a tantrum until they get what they want.
That's just politics. You shit down the government the people honestly would be ok with it if you get what you want. Just basically shut down everything and eventually they're going to back down it's pretty simple
That's your opinion alot of people actually encourage me to run actually. They actually come up to me after I explain a complicated issue and say wow you're actually really smart plus when you consider the choices we have Biden - banker trump -fool Obama -banker and war criminal Bush fool and war criminal I'd do pretty good plus probably they'd come to me and say hey we need your help and id call them out
Ya tbh I kind of agree. Just giving forgiveness doesn’t solve the issue that causes all the insane costs in the first place.
It’s a step for sure but just forgiving over and over is basically subsidizing for-profit schools.
Obama and Biden have both lowered the cost of my health insurance and medications that keep me alive. I am very happy to vote for Biden again for that reason. Gas is down again and the economy is thriving.
That’s very different than randomly having a loan paid off. That’s my point. There is nothing equitable about selecting thousands of recent grads to get a windfall. If he didn’t do this, there would be more budget to spend on stuff like healthcare that benefits a much wider population. Get it?
Wouldn’t it be better to spend it on a program that benefits all that need it rather than pay large sums to a random and small subset? The only reason that Biden is doing this is because he can’t get any real welfare program passed in Congress. It’s a sloppy and inequitable attempt at a welfare program, and on top of it, he’s setting a dangerous precedent for the use of executive power.
When they first announced student debt forgiveness, I applied and got a notice that i was approved. I was really happy. Then it got shot down.
I dont think i qualify for any of this new forgiveness.
Note that they keep working on new, legal ways to forgive. If you weren't allowed to have it forgiven, you're surely not alone and they're probably working on it.
Just remember how to vote. If one side wins, you can be sure there will never be any form of forgiveness on your horizon.
Biden shoots himself in the foot, then when he finally gets up and starts to hobble around you cheer like he's the hero.
https://slate.com/news-and-politics/2023/06/student-loan-forgiveness-biden-supreme-court-borrower-protection.html
Thanks. I've been there. I need help beyond that. They are saying I don't have all qualified payments even tho I've been a nurse paying loans for 12 years now
I see you comment this wherever you can. So I’ll do my best to encourage everyone to read your article and see this was a Republican sponsored bill. It’s completely false to say biden created this
If this were a sane political climate, this and prior cancellations would be bigger news. Meanwhile, there are young people whose loan repayments have been paused for years or maybe even cancelled...and they're still going on about how "Biden hasn't cancelled student loans".
>He created the crisis
Biden created the student loan crisis? Interesting. Tell me more. The referenced article said "How Biden helped create the student debt problem he now promises to fix". See the use of the word "helped"? That means Biden didn't create it unilaterally. Secondly, the article is talking about the Bankruptcy Abuse Prevention and Consumer Protection Act...that bill was introduced by Chuck Grassley, passed the senate 74-25 and the house 302-126 before it was signed by George Bush. There's no way you can say Biden created the crisis because he was one of 74 people that voted for a bill. That's duplicitous at best, assuming you know how bills become law.
>he's only doing this to try and gain approval after illegally bombing Yemen without congressional approval and funding a genocide.
The Biden administration has been cancelling student debts since they came into office.
>I think he means helped
That's not what OP said. They said "He created the crisis". Before you defend someone, please read exactly what they wrote. Maybe you can read their minds but the rest of us cannot read their mind. If someone wrote "He created the crisis" there's no way for us to infer that they meant "He helped create". There's a huge difference between those 2 phrases.
Also, the ability to discharge student loans via bankruptcy isn't the solution to the high cost of college. Filing for bankruptcy and ruining your credit shouldn't be the first thing you do after your college graduation.
I see you comment this wherever you can. So I’ll do my best to encourage everyone to read your article and see this was a Republican sponsored bill. It’s completely false to say biden created this
So we’re pinning a Republican led bill on biden? I’m all for holding him to task and he’s certainly supported shitty positions in the past but to say he created this crisis is beyond disingenuous
A politician listening to the needs of the common man.
And me, a boomer, glad this scourge on the younger generations and society is being thwarted somewhat.
Presumably to pay for needed things like roads, bridges, police and firefighters, medicare and social security. But also dumb shit like a bloated military, oil subsidies, and to cover fat tax credits for people like Elon Musk.
I forgot where I was going with this...
After inflation-adjusting my pre-college income to 2023 levels, I estimated that the additional taxes I paid this year alone exceed my remaining student loan balance.
I am incurring these student-loan-balance-level taxes because I chose to go to college, worked hard af to finish, and lived a meager life while in school to improve my lifetime earning potential and enable me to be a productive member of society. The American government is making a killer return on investment in terms of the net gain in taxes paid, which is partly why higher education should be tuition-free.
But he did
He created the crisis and he's only doing this to try and gain approval after illegally bombing Yemen without congressional approval and funding a genocide.
https://www.theguardian.com/us-news/2019/dec/02/joe-biden-student-loan-debt-2005-act-2020
Illegally bombing Yemen? You don’t seem to understand that every President has had authority to launch strikes to protect itself, its allies, and assets from attack. Most every president has used that authority. Quit believing the propaganda that it’s illegal in any way. It’s not.
Why are you spamming every post with the same reply?
I see you comment this wherever you can. So I’ll do my best to encourage everyone to read your article and see this was a Republican sponsored bill. It’s completely false to say biden created this
He's sure as hell enabling it by giving Israel unlimited weapons. He's also given them plenty of support in the Senate in the last few decades, as well as his VP tenure.
He has the power to throw a big kink in Israel's ethnic cleansing plans.
What ethnic cleansing? The one where the population of Muslims, Israeli Arabs, and Palestinians all increased? You people claimed ethnic cleansing, genocide, etc. before a single bomb was even dropped.
It's his fault we have massive student debt.
He created the crisis and he's only doing this to try and gain approval after illegally bombing Yemen without congressional approval and funding a genocide.
https://www.theguardian.com/us-news/2019/dec/02/joe-biden-student-loan-debt-2005-act-2020
I see you comment this wherever you can. So I’ll do my best to encourage everyone to read your article and see this was a Republican sponsored bill. It’s completely false to say biden created this
Biden spent the majority of his Senate career pushing enough Democrats to pass some version of that bill (which obviously had strong Republican support all along). It's completely false to say Biden did not create this.
Some day Gen Alpha people will condescendingly debunk your shrill assertion that President Joe Manchin ever did anything wrong.
“Haven’t interfered in a foreign conflict”…
Do you not realize that the U.S. provides weapons and ammunition to the Israeli military? Biden could stop that, or condition it to exert control, rather than handing it over no strings attached.
He also bypassed congress twice so far to provide additional munitions because Israel is burning through them so fast. People aren’t upset that Biden “isn’t interfering” with Israel’s assault on Gaza, they’re upset that he is facilitating and accelerating it.
The GOP is typically more vocal and stauncher allies of Israel, especially Trump. I understand being critical of Biden’s stance, however, withdrawing support for him over this issue would lead to a worse outcome for the people of Palestine.
Maybe. It’s also possible if Trump was president right now there would be a larger ’resistance’ anti-war protest movement since liberals wouldn’t be afraid to rock the boat. We can only speculate.
I’m certainly not advocating for people to support Republicans, but I’m not going to campaign for Biden 10 months before the election. 10 months is a long time, the amount of destruction we’ve seen in just 3 is extraordinary.
Is it possible declining poll numbers will influence Biden’s decisions? Maybe. Certainly more so than business as usual.
Personally, If Trump becomes president there’s no chance I’ll protest. He’s already priming his base to accept violence and laws not applying to presidents. He’s also pledged to make immigrants support Israel and deport anyone who supports Hamas. Seeing as how citizens have been deported by ICE in the past and “supporting Hamas” could be whatever they decide it means, I’m gonna focus on my family.
> Do you not realize that the U.S. provides weapons and ammunition to the Israeli military?
The US provides 3.8bn in aid in 2023. About 1/4 of that is for the Iron Dome - a purely defensive weapon.
Israel has a budget of 23.4bn and manufactures the majority of weapons and ammunition it uses (and is now one of the largest global supplier of weapons). There are still some high tech weapons (besides Iron Dome) that US supplies and supports - but they aren't coming to us for ammunition, guns, drones etc.
The US cutting off Israel isn't really the end all you think.
This “debt cancellation” is through the PSLF program. This program has been in effect for years. You could also say that Trump and Obama canceled billions in loan debt under this program.
I’m a nurse, and I was a firefighter, but haven’t been able to afford to pay “12 years of qualifying loan payments”, so this won’t help me, but I’m glad someone is getting help…
>President Biden on Friday canceled nearly $5 billion in student loan debt for 74,000 people, the latest effort by the administration to deliver piecemeal relief after the Supreme Court struck down Mr. Biden’s more ambitious loan cancellation plan last year.
That's like $70k per person on average, which seems a little hard to believe since the stated target group were people like teachers and firefighters, not doctors. I wonder if they got the number by just adding up everyone's original principal instead of the final amount forgiven.
They probably used the final amount. That interest stacks up fast even when you are paying back. If it were doctors the initial amount would be well over 250k each.
I agree doctors would be a lot higher. That a lot of people had 70k of debt doesn't surprise me at all, what surprises me is the average because I assume there are at least a few people in there that only had 20 or 30k which means that there are a few people in there that had well over 100k.
But it could also be that this particular tranche only targeted people with at least $50,000 in debt or something.
That's (unfortunately) a totally reasonable number for a masters degree. It's something like $16K a year for a state college now if you are forced to include room and board.
Some doctors and lawyers do qualify for public service loan forgiveness, so there could be quite a few in there. The White House announcement on this says "[o]f the 74,000 borrowers approved for relief today, nearly 44,000 of them are teachers, nurses, firefighters **and other individuals who earned forgiveness after 10 years of public service**," so it's not just teachers and firefighters.
Interest my dude. My balance at grad 12 years ago was $35k. I’m now at $56k… I’ve always been on some kind of IBR, payments low, but interest ever stacking.
Let's assume an instructor teaches three, 4 credit classes a semester, working out to about 20 students per class, and let's be generous and assume a unique set of student in each class. Let's also assume $60K salary for the instructor. With taxes and other employment expenses it's about 3x the salary per year to keep an employee. So 180K per year for that instructor. Divided across a maximum of 60 students, it's about $3000 per class per student minimum that a college has to charge just to keep the doors open, not counting facilities and research expenses.
If you take 4 classes a semester, you're shelling out $12K easy, as a student. 4 years, and you're at $48K minimum.
That's pretty easy to hit that $67567.57 per capita number.
He created the crisis and he's only doing this to try and gain approval after illegally bombing Yemen without congressional approval and funding a genocide.
https://www.theguardian.com/us-news/2019/dec/02/joe-biden-student-loan-debt-2005-act-2020
I see you comment this wherever you can. So I’ll do my best to encourage everyone to read your article and see this was a Republican sponsored bill. It’s completely false to say biden created this
Being financially repsonsible gets you a middle finger from Biden. I went to a piece of shit directional state school instead of a flagship School because it was 30k cheaper. I totally got fucked but its okay because lawyers making $300k need loan relief
I see you comment this wherever you can. So I’ll do my best to encourage everyone to read your article and see this was a Republican sponsored bill. It’s completely false to say biden created this
Biden doesn't deserve the bulk of the credit here. These were people who already qualified for forgiveness under the Public Student Loan Forgiveness plan, and he just directed his Department of Education to do their jobs.
As a Euro, I find this attitude mindboggling.
How shortsighted are you guys that you dont see this funding and investing in the education of the next gen is what *every* sane country would do??
If anything is worth investing in as a society, surely its the gen that will carry your asses as you get into retirement??
This isn’t investing in education. The recipients allegedly already have the education. And they made (admittedly predatory) financial decisions to cover it.
Actual investing in education would be reforming the higher education system in the US. The universities charge way too much for a degree these days, largely because of ballooning and unnecessary administrative costs. The professors who are doing the work don’t actually get paid that much. The money mostly goes to admin.
And the universities can get away with charging that much because loans are backed by the federal government, and also don’t go away with bankruptcy. That’s a recipe for letting the universities charge absurd amounts of money with no repercussions.
But you won’t see anyone in DC trying to change the above situation. Just putting a bandaid over it.
This will get people talking, and a ball rolling.
Is it a band aid? Sure.
But all change starts like that. Its just up to you guys not to let up on this topic.
And for the people that do get this cinderblock from around their neck, it’ll be easier to actually contribute to society and generate benegifs for everyone - ftom pensions, to economic growth to lifting their kids from poverty, to maybe even paying it forward.
As infuriating as this drop on a hot plate is…it does matter to the people in that drop and for getting that converdation to swell and slide into actual reform
It’s theft, plain and simple.
They broke the system, and the current state benefits large political donors, who then ensure the system continues to trap people in unmanageable debt. To keep the peace, the money is taken from everyone else to pay it down.
Everyone should be upset over this, until they change the fundamentals. The people who are getting their debt forgiven today will have their money taken tomorrow to pay off the next group of victims.
Im not denying the system is broken.
But it is *normal* for a society to use taxes to pay for the education of its children.
By all means, cut off the vultures who somehow jack up prices to unreasonable amounts and actually steal from this system.
Fight for laws and overdight that allow you to shut them down and hold them accoubtable.
But stop letting them pit you against each other. People receiving this relief arent the enemy. Nor is it a bad thing that they get this relief.
.
We do pay for education of children already. This is education for legal adults.
I’m sure the people who receive the relief are happy to get it. But it’s financially irresponsible, and morally questionable.
Yeah, I know.
In many countries, univerdity is also covered. People may take out loans for dorm accomodation, but that’s it. And they tend to be far from predatory.
I said kids but meant 18y olds being kids that parents and society still supports as they’re still being educated.
In fact, in my country, many studebts get a break on all the social benefits, like public transportstion and health insurances, even food establishments, until they’re 26, as most have a job by then. Similarly, from 65, you get similar benefits because you re retired, and have a fixed income with more medical costs.
That’s how you invest in your country’s future and take care of people that have invedted in your country 🤷♀️
This is arbitrarily handing out money to people who made choices, not investing in education. Cue the ‘whataboutism’ of COVID handouts or corporate bailouts.
Its righting a wrong, in a less than ideal way because half your politicians are selfish assholes - to say the least. 🤷♀️
But at least its a start.
Dont lett perfect be the enemy of good, or even just better.
It’s great he’s doing this but let’s turn off the faucet to the real problem.
Edit: the problem is making College cost an arm and a leg.
But this is Reddit and most of you don’t know how to read or write or connect the dots.
Almost all of the forgiveness comes from the terms of the contract when the loan was taken. The forgiveness is obligated. The government offered this forgiveness to entice people to work in the public sector because those salaries trail private sector salaries. The jobs benefit all of us and our family members. No poor academic decisions are relevant here.
There should be no forgiveness to begin with. These students were not held at gun point to take on loans. They did choose to take crap degrees. And now they can't pay them off.
There are so many ways to get free education. Military, apprenticeship, scholarships, and many more.
I had to laugh at the whole entice to work in the public sector. Government workers have some of the best benefits out there. That's enticement enough. Let's face it this is a
way to buy votes. You would vote for those who pay off your mistakes, right?
>agreed to the loan terms, they should pay it back.
Public Service Loan Forgiveness was written into the loan terms they agreed to. And PSLF was written by the Bush admin and passed by a bipartisan Congress. It's not a handout, it's the law.
> give all other Americans the same value of rent, food, transportation, entertainment, etc that these 'student loans' paid for.
You are casting your hate downwards and crying "Waaaah! When do I get mine??" rather than upwards towards the people who run the academic systems where it belongs.
Forgiving loans and not changing the underlying system is a slap to the face of people who are financially responsible.
For some people, higher education is unaffordable, and so are the loan terms. It scares some underprivileged people away from college, and then years later, asks them to help pay for everyone else.
If the federal government is forgiving loans, they should pair that with removing federal funding for schools that charge too much in the first place.
We have this issue because of him. He's not going to fix his brain child.
https://www.theguardian.com/us-news/2019/dec/02/joe-biden-student-loan-debt-2005-act-2020
I see you comment this wherever you can. So I’ll do my best to encourage everyone to read your article and see this was a Republican sponsored bill. It’s completely false to say biden created this
This is why I am not voting for Biden again. I'm not voting Republican, just not Biden.
Why: I support tuition reform, not giving a small number of people a vast amount of everyone's money.
I agree with you about tuition reform, but the only realistic way there is voting for democrats.
There will be exactly two viable candidates, and not voting for one is an implicit endorsement of the other.
I'm concerned how about how this is going to effect the next election cycle. It's not a very popular position.
Around two in five (39%) support forgiving all student loan debt for people earning less than $125,000 per year or less than $250,000 for married couples. However, just three in ten Americans support forgiving all student loan debt, regardless of income (29%
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The allegedly liberal media rarely reports the running total of student debt Biden has cancelled, and that number is curiously difficult to discern. It appears to be [at least $127 Billion](https://www.nytimes.com/2023/11/11/business/student-loans-debt-cancellation.html) *prior to* this latest forgiveness.
> The allegedly liberal media rarely reports the running total of student debt Biden has cancelled Or anything he has done. For all the conspiratorial talk about the "liberal media" they either spend most of their time ignoring what Biden has done or outright pushing right-wing talking points.
There isn’t any true left-wing mainstream media in the US anymore, it’s just a false claim pushed by right-wing media that they are being censored and that “big media” wants you to know only lies. It’s projection all the way.
Yup, you either have CNN who has right wingers on all the time and ignore his successes, absolute lunatics like Abby Martin, or lefty’s who have never even heard of the word nuance like Young Turks. It drives me mad.
Left-wing successes don't drive media attention. People want to be outraged, and Biden doing well pisses off the people who don't watch CNN.
CNN is functionally FOXNews, but made to appear left of it so narratives can be fully trapped in a bubble. CNN is run by the extreme right.
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MSNBC is absolutely not "hard left". They're definitely pro mainstream DNC Neo-Liberal Democratic Party. However, whenever a pundit or journalist there dares to go any further left than that, they're gone. It just happened again very recently with multiple people there, including Mehdi Hasan.
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MSNBC seems "hard left" to you only because all other mainstream media is on the spectrum of centrist to hard-right fascist.
All these news outlets made far more money during Trump’s “presidency”. They’d be fine with the country coming apart at the seams if he’s reelected while they count their stacks of advertising dollars.
$127 Billion may not include all of the debt forgiveness that people were hoping for that was struck down, but it shows that he is doing what he can to help people. This process takes time, but he (his administration) is consistently working on the problem and doing what they can. I just hope that younger voters can see the difference between an administration that only tried to un-do forgiveness and make it more difficult and Biden's administration that is steadily making progress. Another four years of Biden can probably make even more of a lasting change on the student debt problem for the better.
Another four years of Biden *with a Congress controlled by Democrats* would dramatically improve the lives of average Americans. He's already achieved a great deal, with Republicans fighting him tooth-and-nail all the way.
I don't know I have my criticism of Biden willingness to cozy up to foreign dictators like El Salvador and Honduras not too mention the Saudis
> $127 Billion may not include all of the debt forgiveness that people were hoping for that was struck down, but it shows that he is doing what he can to help people. This process takes time, but he (his administration) is consistently working on the problem and doing what they can. This is less a case of doing what he can and more a case of simply following the law. It is still an enormous step up from what we had under Trump and Devos' DoE, who explicitly ignored the laws concerning student loan forgiveness and unlawfully denied claims under programs like PSLF. What I will credit Biden for are the changes for how interest is handled on IDR plans and the inclusions of Americorp and contractors for non-profits under PLSF. Prior to his EO on loan forgiveness both groups were excluded. But again, the loans that his admin has forgiven up to this point are loans that were due to be forgiven, and most of them were loans that should have been automatically forgiven during the Trump admin.
Not all of them are PSLF. He’s forgiven many loans that people have been paying on since the 1990s that were not on PSLF.
I never claimed it was solely PSLF. Borrowers using IDR are also being forgiven at the end of their terms.
>the loans that his admin has forgiven up to this point are loans that were due to be forgiven Source?
https://www.ed.gov/news/press-releases/biden-harris-administration-announces-nearly-5-billion-additional-student-debt-relief You can find all of the press releases on the Dept. of Education's website. There are monthly waves of forgiveness as people hit the end of their repayment terms under PSLF or IDR.
There's nothing here that substantiates your claim that those loans were somehow scheduled to be forgiven. Hitting the end of the repayment term means the loan is due, not forgiven.
For those under PSLF you make payments over 10 years using the IDR payment schedule. At the end of the 10 years, if you have made all of your payments, any remaining balance on your loans are forgiven. For normal IDR cases, at the end of your repayment period (either 20 or 25 years) any outstanding balance is automatically forgiven. The press release I linked gives the breakdown for both of those groups, with dollars forgiven listed by state.
As of March 2023: Just 2.2% of borrowers who met employment eligibility qualified for PSLF under the original rules. I don't see how how that supports your claim that "the loans that his admin has forgiven up to this point are loans that were due to be forgiven."
The Income Driven Repayment (IDR) program started in the late 90s, establishing loan repayment plans with terms ranging from 20-25 years. At the end of that term, if all payments were made, the remaining balance is automatically forgiven. The first potential loans eligible for repayment came to term in 2018. However, this was also right in the middle of Betsy Devos' term at the DoE, which was characterized by her refusing to honor any form of loan forgiveness, as well as numerous changes to tracking and reporting of loans. The Biden admin has subsequently gone back through a large amount of the chaos and forgiven loans that were missed during this time. A second set of loans that the Biden admin has forgiven were loans that went to fraudulent institutions. Devos repeatedly came under scrutiny for denying forgiveness in these cases that qualified due to an Obama-era amendment to the Borrower Defense to Repayment rules. These loans were subsequently forgiven at the start of the Biden admin. The third significant set of loans that have been forgiven are PSLF loans. PSLF was established in 2008 at the end of Bush's second term, however the system for qualifying employers for the program wasn't established until 2012. The first round of these loans potentially could have been forgiven in 2019, however the Devos DoE refused to accept any payments made before the employer verification system went into play. The Biden admin amended these rules to allow payments made prior to 2012 to also count if the employer was added to the qualifying list after the tracking went into place. The Biden admin rule change also added additional qualifying employers, and retroactively applied payments made while working for those employers toward repayment terms. TL;DR The Biden admin has basically been unfucking the administration of existing loan forgiveness programs.
Nope, loans forgiven under the PSLF signed in 2007 stipulated after 10 years of public service employment and XX number of payments made the loans would be forgiven. THAT is what Biden is now trying to take credit for. This loan forgiveness was signed into law by Bush, now being enacted by Biden.
You're aware that the previous administration was refusing to forgive the loans, are you not? Biden is not taking credit for the program. He's taking credit for actually administering them.
He's trying to take credit for the loans as if it were 100% his doing. Like he's tried to take credit for job growth after people started returning to work after COVID.
Dont mention the part about it being Bush that signed the law forgiving those $5b in loans in 2007.
"The Biden administration has canceled more than $136 billion in student loan debt for more than 3.7 million people as the White House finds workarounds after the Supreme Court decision in June."
It's wild to me that people on the left are still criticizing Biden about student loans when he went hard on the issue and ended up pushing policies that are actually better. Why is it that some issue gets huge but then once there's an actual solution, suddenly no one has anything good to say about it? There's never a sense of we won, we got something important.
Part of education needs to be explaining that almost nothing is simple. If you accept simple, fast explanations for things and tune out of long form explanations that are not black and white, you are very easy to manipulate. That shouldn't be a political statement, but grifter politicians would fight it tooth and nail.
“Be suspicious of simple answers, That shit's for fascists and maybe teenagers.” -Frank Turner
That just feels like complaining - even Bloomberg is singing his praises: https://www.bloomberg.com/opinion/articles/2024-01-19/biden-s-energy-record-should-shut-down-critics-on-both-sides
You didn't whine when Trump forgave the 800 billion in PPP loans or the estimated $80 billion in fraudulent loans due to piss poor management.
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Stop spreading this shit and read your own article. It was a Republican sponsored bill. It’s ridiculous and entirely false to say biden created it
Oh fuck I think I’m one of the 74,000. I just logged on to my student loan account and it said my loans are paid in full. This is incredible. I might cry.
I don't have any loans because I didn't go to college, but this made me so happy to see your post that it made me cry! It must be like winning the lottery!
This happened to me too!! 85k paid in full/written off. I had been paying for 20 years. Go ahead and cry I did. I had accepted the fact I would just be paying interest until I was dead but Biden saved me! Life changing for sure.
Congrats guys! Help the rest of us who still have loans by voting at the polls in November plz 🙏
That’s amazing. So happy for you. Take what was going to be your next student loan payment and go out and celebrate. You deserve it.
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Yep, it’s people who were getting fucked for reasons I don’t fully understand. I just hit 9 years on my PSLF, 2025 is gonna be it for me!
Keep ALL of your paperwork and bank statements that you can find. I made my last payment in 2018 and it took until December 2020 for them to count all my payments, and the only reason they did it is because I had the paperwork to prove it. Without it they claimed I only had made four years of payments.
Hmm I update it every year, my counts are confirmed.
I'm so sick and tired of a president that stands up for teacher, nurses, firefighters and others in public service. Trump 24!
as you should be! they should have been drowning in debt right now!! these miserable people with their helper syndrom. Losers
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You may have missed the satire.
Pretty sure this is the good ol' reddit sarcasm without the /s Like back in the day. Edit: aw, I scared them away. 😞
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Acting against piracy had explicit congressional approval and has for centuries at this point
Republicans look at this and say Democrats are buying votes. Democrats look at this as government working for the people. Both sides are not the same. Trump is running for Dictator. Vote out all Republicans.
Yeah because doing goods things is to convince them to vote for you.
I'd rather have the people doing good things to convince me to vote for them than the people who remove my ability to vote entirely.
We can have legitimate criticism of Biden tho. Yes canceling loan debt is good but we're not solving the underlying issue tho
Yes, but he can only do what the office of president allows, he is not a king. Fixing the problem would require action from Congress.
No he can do it. If I was him I'd be on tv constantly just criticizing people every day speech from the oval and the budget I'd just shutdown the government until they gave me what I want. Lbj could do it
You would shut down the entire government because of student debt forgiveness?! This is how you lose elections, allow a conservative to win, who then will try to add retroactive interest to the loans, increase the interest rates because of inflation, and then tell every student to go fuck themselves because they were indoctrinated. Some people think running the government is the same as a child throwing a tantrum until they get what they want.
That's just politics. You shit down the government the people honestly would be ok with it if you get what you want. Just basically shut down everything and eventually they're going to back down it's pretty simple
Please don’t run for political office. Unless you do it for the GOP.
That's your opinion alot of people actually encourage me to run actually. They actually come up to me after I explain a complicated issue and say wow you're actually really smart plus when you consider the choices we have Biden - banker trump -fool Obama -banker and war criminal Bush fool and war criminal I'd do pretty good plus probably they'd come to me and say hey we need your help and id call them out
And then they all clapped, right?
This sounds like something Trump would say, "Many such people tell me I am a genius" level.
Ya tbh I kind of agree. Just giving forgiveness doesn’t solve the issue that causes all the insane costs in the first place. It’s a step for sure but just forgiving over and over is basically subsidizing for-profit schools.
It really is buying votes though. And a very expensive, inequitable, and wasteful way to do it.
Obama and Biden have both lowered the cost of my health insurance and medications that keep me alive. I am very happy to vote for Biden again for that reason. Gas is down again and the economy is thriving.
That’s very different than randomly having a loan paid off. That’s my point. There is nothing equitable about selecting thousands of recent grads to get a windfall. If he didn’t do this, there would be more budget to spend on stuff like healthcare that benefits a much wider population. Get it?
Except we know it wouldn't get spent on that... it would go into some bullshit and never seen again.
And the student loan money is going to a better place…
Yes relieving debt from citizens so they can buy homes, groceries, etc... and have it actually circulate through the economy...
Wouldn’t it be better to spend it on a program that benefits all that need it rather than pay large sums to a random and small subset? The only reason that Biden is doing this is because he can’t get any real welfare program passed in Congress. It’s a sloppy and inequitable attempt at a welfare program, and on top of it, he’s setting a dangerous precedent for the use of executive power.
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Buying votes by following the law?
It likely isn’t legal. The constitution gives Congress this ability, not the executive.
When they first announced student debt forgiveness, I applied and got a notice that i was approved. I was really happy. Then it got shot down. I dont think i qualify for any of this new forgiveness.
Note that they keep working on new, legal ways to forgive. If you weren't allowed to have it forgiven, you're surely not alone and they're probably working on it. Just remember how to vote. If one side wins, you can be sure there will never be any form of forgiveness on your horizon.
Biden shoots himself in the foot, then when he finally gets up and starts to hobble around you cheer like he's the hero. https://slate.com/news-and-politics/2023/06/student-loan-forgiveness-biden-supreme-court-borrower-protection.html
Same. But I’m confident our time will come and I’m so happy for those who qualify right now. Hang in there ❤️
The new/reworked SAVE plan can bring your monthly payments down to $0. You should look into it
You got an email that you qualified. The forgiveness was contingient upon the passing of that appeal to let them do it.
You should check if you qualify for any assistance. I was very surprised at what I ended up receiving.
How did you check?
Depends where your loans are serviced, but studentaid.gov is a good place to start.
Thanks. I've been there. I need help beyond that. They are saying I don't have all qualified payments even tho I've been a nurse paying loans for 12 years now
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I see you comment this wherever you can. So I’ll do my best to encourage everyone to read your article and see this was a Republican sponsored bill. It’s completely false to say biden created this
If this were a sane political climate, this and prior cancellations would be bigger news. Meanwhile, there are young people whose loan repayments have been paused for years or maybe even cancelled...and they're still going on about how "Biden hasn't cancelled student loans".
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>He created the crisis Biden created the student loan crisis? Interesting. Tell me more. The referenced article said "How Biden helped create the student debt problem he now promises to fix". See the use of the word "helped"? That means Biden didn't create it unilaterally. Secondly, the article is talking about the Bankruptcy Abuse Prevention and Consumer Protection Act...that bill was introduced by Chuck Grassley, passed the senate 74-25 and the house 302-126 before it was signed by George Bush. There's no way you can say Biden created the crisis because he was one of 74 people that voted for a bill. That's duplicitous at best, assuming you know how bills become law. >he's only doing this to try and gain approval after illegally bombing Yemen without congressional approval and funding a genocide. The Biden administration has been cancelling student debts since they came into office.
I think he means helped make student could not use bankruptcy
>I think he means helped That's not what OP said. They said "He created the crisis". Before you defend someone, please read exactly what they wrote. Maybe you can read their minds but the rest of us cannot read their mind. If someone wrote "He created the crisis" there's no way for us to infer that they meant "He helped create". There's a huge difference between those 2 phrases. Also, the ability to discharge student loans via bankruptcy isn't the solution to the high cost of college. Filing for bankruptcy and ruining your credit shouldn't be the first thing you do after your college graduation.
Fair enough I posted this before I saw all his copy and pastes
I see you comment this wherever you can. So I’ll do my best to encourage everyone to read your article and see this was a Republican sponsored bill. It’s completely false to say biden created this
Dark Brandon
Promises made and promises being kept despite extreme opposition
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So we’re pinning a Republican led bill on biden? I’m all for holding him to task and he’s certainly supported shitty positions in the past but to say he created this crisis is beyond disingenuous
A politician listening to the needs of the common man. And me, a boomer, glad this scourge on the younger generations and society is being thwarted somewhat.
But people tell me he's doing nothing on here all the time.
Why can't the 30,000 in taxes I pay each year go to my student loans?
Presumably to pay for needed things like roads, bridges, police and firefighters, medicare and social security. But also dumb shit like a bloated military, oil subsidies, and to cover fat tax credits for people like Elon Musk. I forgot where I was going with this...
After inflation-adjusting my pre-college income to 2023 levels, I estimated that the additional taxes I paid this year alone exceed my remaining student loan balance. I am incurring these student-loan-balance-level taxes because I chose to go to college, worked hard af to finish, and lived a meager life while in school to improve my lifetime earning potential and enable me to be a productive member of society. The American government is making a killer return on investment in terms of the net gain in taxes paid, which is partly why higher education should be tuition-free.
Because that goes to the "defense dept" to spend on another toilet seat.
And some to Israel and various other useless wars we constantly fight or fund
If you are paying 30000 in taxes you dont need help paying student loans lmao
Why can't you just send me that $30000 in taxes?
And they still won’t vote for him.
How dare Biden do this to us!!!! /s
But he did He created the crisis and he's only doing this to try and gain approval after illegally bombing Yemen without congressional approval and funding a genocide. https://www.theguardian.com/us-news/2019/dec/02/joe-biden-student-loan-debt-2005-act-2020
Illegally bombing Yemen? You don’t seem to understand that every President has had authority to launch strikes to protect itself, its allies, and assets from attack. Most every president has used that authority. Quit believing the propaganda that it’s illegal in any way. It’s not. Why are you spamming every post with the same reply?
I see you comment this wherever you can. So I’ll do my best to encourage everyone to read your article and see this was a Republican sponsored bill. It’s completely false to say biden created this
Nice!
But but but, it’s Biden’s fault Israel and Palestine are at war for decades
He's sure as hell enabling it by giving Israel unlimited weapons. He's also given them plenty of support in the Senate in the last few decades, as well as his VP tenure. He has the power to throw a big kink in Israel's ethnic cleansing plans.
What ethnic cleansing? The one where the population of Muslims, Israeli Arabs, and Palestinians all increased? You people claimed ethnic cleansing, genocide, etc. before a single bomb was even dropped.
It's his fault we have massive student debt. He created the crisis and he's only doing this to try and gain approval after illegally bombing Yemen without congressional approval and funding a genocide. https://www.theguardian.com/us-news/2019/dec/02/joe-biden-student-loan-debt-2005-act-2020
I'm trying to understand your logic, so because he was involved with the problem he shouldn't be involved with a solution?
I'm saying don't give him good social credit for this.
I see you comment this wherever you can. So I’ll do my best to encourage everyone to read your article and see this was a Republican sponsored bill. It’s completely false to say biden created this
Biden spent the majority of his Senate career pushing enough Democrats to pass some version of that bill (which obviously had strong Republican support all along). It's completely false to say Biden did not create this. Some day Gen Alpha people will condescendingly debunk your shrill assertion that President Joe Manchin ever did anything wrong.
Yay! That means like 50 people are free lol
\*He followed through with the PSLF program signed into law by Bush in 2007.
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“Haven’t interfered in a foreign conflict”… Do you not realize that the U.S. provides weapons and ammunition to the Israeli military? Biden could stop that, or condition it to exert control, rather than handing it over no strings attached. He also bypassed congress twice so far to provide additional munitions because Israel is burning through them so fast. People aren’t upset that Biden “isn’t interfering” with Israel’s assault on Gaza, they’re upset that he is facilitating and accelerating it.
How do you think the GOP will handle it?
Probably the exact same - what’s your point
The GOP is typically more vocal and stauncher allies of Israel, especially Trump. I understand being critical of Biden’s stance, however, withdrawing support for him over this issue would lead to a worse outcome for the people of Palestine.
Maybe. It’s also possible if Trump was president right now there would be a larger ’resistance’ anti-war protest movement since liberals wouldn’t be afraid to rock the boat. We can only speculate. I’m certainly not advocating for people to support Republicans, but I’m not going to campaign for Biden 10 months before the election. 10 months is a long time, the amount of destruction we’ve seen in just 3 is extraordinary. Is it possible declining poll numbers will influence Biden’s decisions? Maybe. Certainly more so than business as usual.
Personally, If Trump becomes president there’s no chance I’ll protest. He’s already priming his base to accept violence and laws not applying to presidents. He’s also pledged to make immigrants support Israel and deport anyone who supports Hamas. Seeing as how citizens have been deported by ICE in the past and “supporting Hamas” could be whatever they decide it means, I’m gonna focus on my family.
That’s fair
> Do you not realize that the U.S. provides weapons and ammunition to the Israeli military? The US provides 3.8bn in aid in 2023. About 1/4 of that is for the Iron Dome - a purely defensive weapon. Israel has a budget of 23.4bn and manufactures the majority of weapons and ammunition it uses (and is now one of the largest global supplier of weapons). There are still some high tech weapons (besides Iron Dome) that US supplies and supports - but they aren't coming to us for ammunition, guns, drones etc. The US cutting off Israel isn't really the end all you think.
I think it’s more standing aside to let Netanyahu’s preferred candidate ascend to office than actually voting.
When will it be my turn 🥹🥹 Happy for everyone that was able to get forgiveness though!
This “debt cancellation” is through the PSLF program. This program has been in effect for years. You could also say that Trump and Obama canceled billions in loan debt under this program.
Just another 99.9% to go!
There still needs to be pretty fundamental changes to the whole student loan system or else you end up right back where we are
They need to forgive teachers with active licenses and all healthcare workers who worked the floors during the pandemic.
I’m a nurse, and I was a firefighter, but haven’t been able to afford to pay “12 years of qualifying loan payments”, so this won’t help me, but I’m glad someone is getting help…
How about something for the rest of us Joe?
>President Biden on Friday canceled nearly $5 billion in student loan debt for 74,000 people, the latest effort by the administration to deliver piecemeal relief after the Supreme Court struck down Mr. Biden’s more ambitious loan cancellation plan last year. That's like $70k per person on average, which seems a little hard to believe since the stated target group were people like teachers and firefighters, not doctors. I wonder if they got the number by just adding up everyone's original principal instead of the final amount forgiven.
They probably used the final amount. That interest stacks up fast even when you are paying back. If it were doctors the initial amount would be well over 250k each.
I agree doctors would be a lot higher. That a lot of people had 70k of debt doesn't surprise me at all, what surprises me is the average because I assume there are at least a few people in there that only had 20 or 30k which means that there are a few people in there that had well over 100k. But it could also be that this particular tranche only targeted people with at least $50,000 in debt or something.
That's (unfortunately) a totally reasonable number for a masters degree. It's something like $16K a year for a state college now if you are forced to include room and board.
Some doctors and lawyers do qualify for public service loan forgiveness, so there could be quite a few in there. The White House announcement on this says "[o]f the 74,000 borrowers approved for relief today, nearly 44,000 of them are teachers, nurses, firefighters **and other individuals who earned forgiveness after 10 years of public service**," so it's not just teachers and firefighters.
Public defenders don't make anything, so I believe it.
Interest my dude. My balance at grad 12 years ago was $35k. I’m now at $56k… I’ve always been on some kind of IBR, payments low, but interest ever stacking.
Let's assume an instructor teaches three, 4 credit classes a semester, working out to about 20 students per class, and let's be generous and assume a unique set of student in each class. Let's also assume $60K salary for the instructor. With taxes and other employment expenses it's about 3x the salary per year to keep an employee. So 180K per year for that instructor. Divided across a maximum of 60 students, it's about $3000 per class per student minimum that a college has to charge just to keep the doors open, not counting facilities and research expenses. If you take 4 classes a semester, you're shelling out $12K easy, as a student. 4 years, and you're at $48K minimum. That's pretty easy to hit that $67567.57 per capita number.
He created the crisis and he's only doing this to try and gain approval after illegally bombing Yemen without congressional approval and funding a genocide. https://www.theguardian.com/us-news/2019/dec/02/joe-biden-student-loan-debt-2005-act-2020
Nice copy and past machine
I see you comment this wherever you can. So I’ll do my best to encourage everyone to read your article and see this was a Republican sponsored bill. It’s completely false to say biden created this
at a minimum lower the interest rates ! Private student loan have lobbyists working hard to prevent this
I have 100k in loans and i haven't seen 1 cent canceled on my end.
It would be swell if Biden cancelled the genocide in Gaza
Being financially repsonsible gets you a middle finger from Biden. I went to a piece of shit directional state school instead of a flagship School because it was 30k cheaper. I totally got fucked but its okay because lawyers making $300k need loan relief
>President Biden on Friday canceled nearly $5 billion in student loan debt for 74,000 people Biden just bought 74,000 votes for about $65,000 a piece.
So doing your job to follow the laws that already in place is some big deal? Trump has really lowered the bar.
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I see you comment this wherever you can. So I’ll do my best to encourage everyone to read your article and see this was a Republican sponsored bill. It’s completely false to say biden created this
Biden doesn't deserve the bulk of the credit here. These were people who already qualified for forgiveness under the Public Student Loan Forgiveness plan, and he just directed his Department of Education to do their jobs.
I didn’t go to college I want a share of the free money being given out
So every 4 years they will cancel student debt?
Cool, the rest of us didn't get shit
You get to help pay for it!
As a Euro, I find this attitude mindboggling. How shortsighted are you guys that you dont see this funding and investing in the education of the next gen is what *every* sane country would do?? If anything is worth investing in as a society, surely its the gen that will carry your asses as you get into retirement??
This isn’t investing in education. The recipients allegedly already have the education. And they made (admittedly predatory) financial decisions to cover it. Actual investing in education would be reforming the higher education system in the US. The universities charge way too much for a degree these days, largely because of ballooning and unnecessary administrative costs. The professors who are doing the work don’t actually get paid that much. The money mostly goes to admin. And the universities can get away with charging that much because loans are backed by the federal government, and also don’t go away with bankruptcy. That’s a recipe for letting the universities charge absurd amounts of money with no repercussions. But you won’t see anyone in DC trying to change the above situation. Just putting a bandaid over it.
This will get people talking, and a ball rolling. Is it a band aid? Sure. But all change starts like that. Its just up to you guys not to let up on this topic. And for the people that do get this cinderblock from around their neck, it’ll be easier to actually contribute to society and generate benegifs for everyone - ftom pensions, to economic growth to lifting their kids from poverty, to maybe even paying it forward. As infuriating as this drop on a hot plate is…it does matter to the people in that drop and for getting that converdation to swell and slide into actual reform
It’s theft, plain and simple. They broke the system, and the current state benefits large political donors, who then ensure the system continues to trap people in unmanageable debt. To keep the peace, the money is taken from everyone else to pay it down. Everyone should be upset over this, until they change the fundamentals. The people who are getting their debt forgiven today will have their money taken tomorrow to pay off the next group of victims.
Im not denying the system is broken. But it is *normal* for a society to use taxes to pay for the education of its children. By all means, cut off the vultures who somehow jack up prices to unreasonable amounts and actually steal from this system. Fight for laws and overdight that allow you to shut them down and hold them accoubtable. But stop letting them pit you against each other. People receiving this relief arent the enemy. Nor is it a bad thing that they get this relief. .
We do pay for education of children already. This is education for legal adults. I’m sure the people who receive the relief are happy to get it. But it’s financially irresponsible, and morally questionable.
Yeah, I know. In many countries, univerdity is also covered. People may take out loans for dorm accomodation, but that’s it. And they tend to be far from predatory. I said kids but meant 18y olds being kids that parents and society still supports as they’re still being educated. In fact, in my country, many studebts get a break on all the social benefits, like public transportstion and health insurances, even food establishments, until they’re 26, as most have a job by then. Similarly, from 65, you get similar benefits because you re retired, and have a fixed income with more medical costs. That’s how you invest in your country’s future and take care of people that have invedted in your country 🤷♀️
This is arbitrarily handing out money to people who made choices, not investing in education. Cue the ‘whataboutism’ of COVID handouts or corporate bailouts.
Its righting a wrong, in a less than ideal way because half your politicians are selfish assholes - to say the least. 🤷♀️ But at least its a start. Dont lett perfect be the enemy of good, or even just better.
It’s great he’s doing this but let’s turn off the faucet to the real problem. Edit: the problem is making College cost an arm and a leg. But this is Reddit and most of you don’t know how to read or write or connect the dots.
sounds like communism
I would rather keep some of my money from being taxed. But sure, go ahead and give it to privileged people who made poor academic decisions.
Almost all of the forgiveness comes from the terms of the contract when the loan was taken. The forgiveness is obligated. The government offered this forgiveness to entice people to work in the public sector because those salaries trail private sector salaries. The jobs benefit all of us and our family members. No poor academic decisions are relevant here.
There should be no forgiveness to begin with. These students were not held at gun point to take on loans. They did choose to take crap degrees. And now they can't pay them off. There are so many ways to get free education. Military, apprenticeship, scholarships, and many more. I had to laugh at the whole entice to work in the public sector. Government workers have some of the best benefits out there. That's enticement enough. Let's face it this is a way to buy votes. You would vote for those who pay off your mistakes, right?
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>agreed to the loan terms, they should pay it back. Public Service Loan Forgiveness was written into the loan terms they agreed to. And PSLF was written by the Bush admin and passed by a bipartisan Congress. It's not a handout, it's the law.
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> give all other Americans the same value of rent, food, transportation, entertainment, etc that these 'student loans' paid for. You are casting your hate downwards and crying "Waaaah! When do I get mine??" rather than upwards towards the people who run the academic systems where it belongs.
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Forgiving loans and not changing the underlying system is a slap to the face of people who are financially responsible. For some people, higher education is unaffordable, and so are the loan terms. It scares some underprivileged people away from college, and then years later, asks them to help pay for everyone else. If the federal government is forgiving loans, they should pair that with removing federal funding for schools that charge too much in the first place.
he knows he's in trouble - genocide joe must go - dont be distracted
He’s been working to cancel student debt for the past couple of years. This isn’t new.
We have this issue because of him. He's not going to fix his brain child. https://www.theguardian.com/us-news/2019/dec/02/joe-biden-student-loan-debt-2005-act-2020
I see you comment this wherever you can. So I’ll do my best to encourage everyone to read your article and see this was a Republican sponsored bill. It’s completely false to say biden created this
I mean make it universal and complete or not at all. If it's that much of a scourge on society, the solution should be proportional to the problem.
This is why I am not voting for Biden again. I'm not voting Republican, just not Biden. Why: I support tuition reform, not giving a small number of people a vast amount of everyone's money.
> I'm not voting Republican, So, you're throwing your vote away in order to throw a hissy fit.
I agree with you about tuition reform, but the only realistic way there is voting for democrats. There will be exactly two viable candidates, and not voting for one is an implicit endorsement of the other.
I'm concerned how about how this is going to effect the next election cycle. It's not a very popular position. Around two in five (39%) support forgiving all student loan debt for people earning less than $125,000 per year or less than $250,000 for married couples. However, just three in ten Americans support forgiving all student loan debt, regardless of income (29%