OT Biden's Education Department will immediately wipe out out student loan debt for 40,000 borrowers

Talking about the people who aren't college graduates yet. People who are in college or may consider college in the future.

 

Answer: Higher taxes, paid for by everyone, benefitting a privileged group.

 

Honestly, PPP was a big scam. They should have just fired everyone and gone on unemployment.

 

Portlanders react to Biden's student loan debt cancellation

 

Everyone else is going to pay the loans for you.

 

The economic benefits far outweigh the cost.

 

They should have prevented anybody from being fired and just paid every American under $250k in earnings $2k per month. And eliminated taxes for essential workers who chose to work during the pandemic.

 

But how could businesses scam that plan?

 

They couldn't. And that's the only reason it didn't happen.

 

Let me know when you get a bill for that. When did you pay off WW2? I don't remember ever seeing a bill for that... or any other war we've gotten into, for that matter.

 

pretty hot and tempting guysrule 2024!!!

 

Who do you think is going to pay this $300 billion? Someone has to.

 

Who paid for the PPP loans?

 

One thing I haven't seen mentioned regarding the additional $10k for the Pell Grant. Let's say I had grants of only like 5 grand? Is that the only portion of my loans that will be forgiven, or would I just have another 10k right off the top?

Another thing that nobody is really mentioning is the amount that borrowers payments will go down, some as much as a 50% decrease, depending on income. Combine that with expanded forgiveness programs if you work for a non-profit, government agency, ect. People see the $10/20k number and start asking "where's mine?". Life isn't fair. At least some of our dollars aren't going into the DeVos Family Trust anymore.

 

5k is the only portion forgiven because that is all you had.

 

All these student loans are bundled into derivatives just like the housing market. My guess is that Sallie Mae eats this.

 

lol. That's cute.

and not going to happen.

Sallie Mae is a piece of shit company. They are probably going to get calculated interest on the $10k.

 

A grant isn't a loan though. It seems like they are using "Pell Grant Recipients" as a sort of cutoff for who receives the additional forgiveness. In order to qualify for those grants you have to be below a certain income. I feel like it could go either way based on what I've seen them communicate so far.

 

Taxpayers.

Just like they paid for the wars.

Just like they paid for big bank bailouts.

 

So where was the rage when they forgave those loans which will end up being 100 billion more than the student loans?