User Controls
Biden cancels 10k-20k in student loans for those making under 125k
-
2022-08-24 at 11:23 PM UTC
https://www.cnbc.com/2022/08/24/biden-expected-to-cancel-10000-in-federal-student-loan-debt-for-most-borrowers.html?__source=iosappshare%7Ccom.apple.UIKit.activity.CopyToPasteboardPresident Joe Biden announced Wednesday that he will forgive $10,000 in federal student debt for most borrowers, fulfilling a campaign pledge and delivering financial relief to millions of Americans.
Biden will cancel up to $20,000 for recipients of Pell Grants.
Democracy in action! He promised, and he delivers. -
2022-08-24 at 11:52 PM UTCIs this for white people too or just brown
-
2022-08-25 at 12:12 AM UTC
-
2022-08-25 at 12:18 AM UTCForgive all of it you fucking pussy!
-
2022-08-25 at 12:49 AM UTCThe following users say it would be alright if the author of this post didn't die in a fire!
-
2022-08-25 at 12:55 AM UTCThe author of this post has returned to nothingnessThe following users say it would be alright if the author of this post didn't die in a fire!
-
2022-08-25 at 1:08 AM UTC
Originally posted by Haxxor Not everyone
Some of us already paid our student loans off. Do we get a fucking refund?!
So just because you had to pay a ridiculous amount it means everyone in the future should as well?
The best thing about this will not be the elimination of debt but the stopping of predatory loan practices that made this a problem to begin with.
minimum monthly payment down from 10% to 5%
Zero monthly payment if making under 225% the national poverty level
Elimination of monthly interest if you pay the minimum
Elimination of student loan balances under 12k after 10yrs.
The bill is still being drafted of course but this is REALLY GOOD so far. -
2022-08-25 at 1:10 AM UTC
Originally posted by lockedin Now convince people to stop taking out massive loans to get a gender studies degree or this problem will repeat itself ad infinitum.
The bank won't give you a home loan at age 18 but will gladly let you sign yourself into tens of thousands of student loan debt, no questions askedThe following users say it would be alright if the author of this post didn't die in a fire! -
2022-08-25 at 1:31 AM UTCIt needs to pass and there will be a shit ton of lawsuits if by chance it does. A president doesnt have the power to cancel debt
-
2022-08-25 at 3:05 AM UTCThis shit makes my blood boil.
The fucking amount of time and money my wife spent on paying down her debt and the the amount that I spent helping her THIS WILL NOT END well for Biden.
I'm sorry but no this is not right at ALL.
If you take on a loan you should have to pay it back I don't give a shit what color of your skin is OR what DADDY did to you.
YOU!! The SO called Qualified Collage applicant should know if you could or could not pay the money back Period.....
This is not unexpected though TPTB want me to be mad.They expect me to be mad.Thats what they want so they can do what they want and I won't notice.
Gee it's to bad that no one gets mad anymore otherwise the Whitehouse would have been burned down by now.
-
2022-08-25 at 3:06 AM UTC
-
2022-08-25 at 3:07 AM UTC
-
2022-08-25 at 12 PM UTC
-
2022-08-25 at 12:01 PM UTC
-
2022-08-25 at 1:18 PM UTC
Originally posted by cigreting It needs to pass and there will be a shit ton of lawsuits if by chance it does. A president doesnt have the power to cancel debt
Democrats can pass it on their own. Joe Manchin is down for it. They'll pass it before November for sure.
Also nobody is 'cancelling debt.' The loans are being paid by the government. This is 100% achievable via executive order. You realize he already froze student loan payment requirements with an executive order?
Biden and his advisors would be an absolute IDIOTs to re-make this promise before the midterms without knowing it can be done. You may think he's 'ol sleepy joe' or whatever the fuck but really, its just a speech impediment, and every decision he makes comes from a machine much larger than any one man.
Education is absolutely fucked in the US and there needs to be reform at some point. The past 20-30yrs have had ever-increasing tuition costs.
This kind of stuff is an inevitability. Historically, this is what hegemonic empires end up going through at the end of each 'power cycle', which occurs every 80-150yrs. The last time being the 1930's-40's where the world's reserve currency switched over from the pound to the dollar. America either crashes and burns, or it works towards improving economic mobility. Expect the Democratic party to have more stuff like this over the next ~10yrs as they attempt to retain trust in the dollar. Otherwise it will probably switch over to the Euro within most of our lifetimes.
I could go more into depth but I know most of you don't read anything but coloring books. -
2022-08-25 at 1:20 PM UTC
-
2022-08-25 at 1:22 PM UTC
Originally posted by lockedin Now convince people to stop taking out massive loans to get a gender studies degree or this problem will repeat itself ad infinitum.
this post was thanked by
aldra - who had his education paid for by the Australian state
blaster master - who never got a decent education and suffers doing manual labor because of it. -
2022-08-25 at 1:23 PM UTC
Originally posted by Steven Also nobody is 'cancelling debt.' The loans are being paid by the government.
1. It's not the governments debt to pay. It's the person who signed up for the loan's debt. (google "personal responsibility")
2. The government isn't paying for it, the taxpayer is (aka people who didn't sign up for the debt are being forced to pay for others lack of personal responsibility)
Stay in school kid. (ETA but makes sure you pay for it your fucking self) -
2022-08-25 at 1:27 PM UTCWhy do all liberals think that money just gets printed out of thin air
-
2022-08-25 at 1:28 PM UTC
