Biden to announce $10,000 of student loan forgiveness and repayment pause extension

[Tall Timbers]

which will cost the goverment hundreds of billions of dollars.

... I think you meant will cost the people hundreds of billions of dollars.

 

[Andy C]

... I think you meant will cost the people hundreds of billions of dollars.

Yes, thanks.

 

[Dave_97]

I said well no, it's not the same thing, Jesus offers the same free gift and forgiveness of debt to everyone, not just certain college students at a certain time.

PREACH! Good response hopefully they see the gospel for what it really is!

 

[Footsteps]

Typical rotten idea from Biden. Another ingredient
for inflation and uncertainty. The DOW dropped 1,000 points today, but Biden will tell you the
economy is getting better.

 

[MapleLeaf]

Our debt of sin wasn't just swiped away. Jesus paid for it. It was paid for with his blood. The penalty for sin still had to be paid for in full. Student loans is asking someone else (usually a poorer someone else) to pay for it. The universities should have paid for it with their endowments.

 

[kathymendel]

What about the students who went to tech schools, etc? I mean, they only attended for a year or two, paid for it out of their own
pockets, AND, actually got jobs when they graduated................. why should their loans not be paid???

 

[Ghoti Ichthus]

The ramifications for all of it is that we will all pay the money in other ways. Free lunch is an illusion.

That being said, college tuition prices are nutso. I am sure it has to do with those ludicrously padded pensions all the professors receive.

I wish my Dad got something from when he taught at the U, but since he was an adjunct, nope, nada, nothing, zilch . . .
Some places take care of their professors and staff, and others not so much, but "no one" takes care of adjuncts, who carry a lot of the teaching weight.


Tuition isn't just about education, anymore

Horrific research costs (wish none of the research was satanic/PC). Lots of good things have come out of academic research projects (including some done by students), though, so I'm not upset about this, other than the PC and politics that happen.

However . . .

Ridiculous sports program funding, including coaches' salaries

College sports, especially men's football and basketball are BIGBusiness
Nothing amateur about them anymore

 

[Ghoti Ichthus]

What about the students who went to tech schools, etc? I mean, they only attended for a year or two, paid for it out of their own
pockets, AND, actually got jobs when they graduated................. why should their loans not be paid???

If their loans are the right kind of Federal loans, they will be, too. It's not just college/university students that get these loans.

Some Vo-Tech grads' loans are paid for (or helped) by unions or business when they meet certain requirements

 

[JoyJoyJoy]

worked full time during college so I could pay as I went. Silly me.

So did I. I had to sit out for 6 months during my program because I didn't have the $$ to cover tuition. So I worked some more and went back. I graduated owing $0.00.

 

[Baby Yoda]

Here's an important point to remember: the debt will not be gone; it will just be transferred from those who received the loan to those who didn't.

Exactly. And to those in this thread that will benefit, I understand why you are happy and relieved. I honestly don't know how I would react if I were suddenly to get something for free that most other people will not. Be glad you are one of the lucky few, most of us are not that fortunate and will have to pay for some portion of the total bill that comes due.

 

[pixelpusher]

get something for free

The thing is, the recipients as well as the rest of us who pay taxes will pay for this over the next however many years.

Fortunately, by Biden's math, our cost will be zero tho. So there's that.

 

[Baby Yoda]

The thing is, the recipients as well as the rest of us who pay taxes will pay for this over the next however many years.

Agree, that's exactly what I was saying.

 

[cheeky200386]

We'll also pay in the long wrong because of the promotion of socialism that this promotes.

 

[Spartan Sprinter 1]

Does America have a thing where the government freezes rent repayments ? The greens who are the equivalent of the democrats i guess are pushing strongly for our prime minister to freeze rent repayment to landlords for 2 years.

What planet are these people from honestly

 

[Ghoti Ichthus]

The thing is, the recipients as well as the rest of us who pay taxes will pay for this over the next however many years.

Fortunately, by Biden's math, our cost will be zero tho. So there's that.

First, there was math. Then new math came along and math became old math. Then we got culturally sensitive math, then PC math, and then fuzzy math that doesn't require correct answers to get credit. Now there's Biden Math (BM)

Can't we just go back to plain ole regular math? Puh-leeeeeze?!!!

 

[lightofmylife]

Federal judge blocks Biden's student loan forgiveness as unconstitutional. https://www.texastribune.org/2022/11/10/texas-judge-biden-student-loan-forgiveness/

 

[antitox]

What dems do is spend OTHER PEOPLE'S MONEY.

That's what they are all about.

If you look at every issue they address it will be SPEND MORE MONEY.

Every time.

 

[Bethlehem57]

Biden to announce $10,000 of student loan forgiveness and repayment pause extension

President Joe Biden will reportedly announce an order to excuse $10,000 of student loans for many while also extending the repayment pause.

The Associated Press reported that three sources confirmed the student loan forgiveness plan. They claimed that the forgiveness program would be limited to those who earn less than $125,000 a year.

The current moratorium on student loan repayment implemented during the pandemic was scheduled to expire next week, but under the new plan, it will be extended into January.

Total U.S. student debt has grown from $516 billion in 2007 to $1.6 trillion in 2022. One third of the more than 43 million Americans with federal student debt owes only $10,000, while more than half owes less than $20,000.

According to an analysis of the plan by the Penn Wharton Budget Model think thank at the University of Pennsylvania, the plan would cost roughly $300 billion. The analysis also said "about 70 percent of debt relief accrues to borrowers in the top 60 percent of the income distribution."

The progressive wing of the Democrat party has excoriated Biden for promising to forgive student debt and then failing to do so once he got into office. In February, left-wing activists accused the president of being "extremely classist and racist" for not following through with the demand that he forgive $50,000 of student debt per borrower.

"They are in service to an ideological moderatism that doesn't align with the base of the party or with the views of a rising electorate that is younger & less white," said activist Bree Newsome at the time.

Republicans meanwhile have derided any student loan forgiveness plan for helping the privileged with the taxpayer money from regular Americans.

"If the Biden Administration goes through with this, they will be taking money from plumbers and electricians to pay the debts of lawyers and academics," tweeted Rep. Mike Johnson (R-La.).

https://www.theblaze.com/news/biden-student-debt-forgiveness-plan?utm_source=theblaze-breaking&utm_medium=email&utm_campaign=20220824SponsoredTrending-RevelationMedia-WED&utm_term=ACTIVE LIST - TheBlaze Breaking News

Just saw article that judge blocked this on RR news. Thank You Lord!

 

[ChildofLight]

Just saw article that judge blocked this on RR news. Thank You Lord!

Hope they continue blocking it, then again he doesn’t follow the rule of law.

 

[Wally]

I understand the desire to redistribute wealth. To concentrate it is deadly for a nation.

So lets start by impoverishing politicians who took from the masses voting for themselves and not the betterment of the public.