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17 state attorneys general call for canceling $50K in student loan debt
Posted on 2/19/21 at 11:19 am
Posted on 2/19/21 at 11:19 am
A coalition of 17 state attorneys general is calling for the cancellation of up to $50,000 in federal student loan debt for all borrowers.
The Democratic attorneys general, led by New York Attorney General Letitia James and Massachusetts Attorney General Maura Healey, sent a letter to congressional leaders on Friday supporting resolutions that call on President Biden to use executive action to forgive outstanding student loans.
“The existing repayment system for Federal student loans provides insufficient opportunity for struggling borrowers to manage their debts or recover from the current economic crisis,” the attorneys general wrote. “Broad cancellation of Federal student loan debt will provide immediate relief to millions who are struggling during this pandemic and recession, and give a much-needed boost to families and our economy.”
The congressional resolutions, the state attorneys general said, “would help remedy predatory practices that have disproportionately harmed people of color, boost our struggling economy, and create a viable future for millions of Americans.” LINK
The Democratic attorneys general, led by New York Attorney General Letitia James and Massachusetts Attorney General Maura Healey, sent a letter to congressional leaders on Friday supporting resolutions that call on President Biden to use executive action to forgive outstanding student loans.
“The existing repayment system for Federal student loans provides insufficient opportunity for struggling borrowers to manage their debts or recover from the current economic crisis,” the attorneys general wrote. “Broad cancellation of Federal student loan debt will provide immediate relief to millions who are struggling during this pandemic and recession, and give a much-needed boost to families and our economy.”
The congressional resolutions, the state attorneys general said, “would help remedy predatory practices that have disproportionately harmed people of color, boost our struggling economy, and create a viable future for millions of Americans.” LINK
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Posted on 2/19/21 at 11:20 am to Jbird
Are those the 17 individuals who we who have paid off our loans can sue?
Posted on 2/19/21 at 11:21 am to Jbird
quote:
17 state attorneys general call for canceling $50K in student loan debt
So 33 state attorneys general do not call for cancelling student loan debt?
This post was edited on 2/19/21 at 11:22 am
Posted on 2/19/21 at 11:21 am to Jbird
I bet I can score 90% or higher at guessing the states without first peeking.
Posted on 2/19/21 at 11:21 am to Jbird
What’s the legal rationale for “only” being able to do $50,000 supposedly by executive action?
Posted on 2/19/21 at 11:21 am to Jbird
And I call for roughly 250k in mortgage debt cancellation.
No particular reason. None at all.
I also want some waffle fries.
No particular reason. None at all.
I also want some waffle fries.
Posted on 2/19/21 at 11:22 am to Jbird
How could any adult stand up and argue that taxpayers need to foot the bill for student loans
Posted on 2/19/21 at 11:22 am to Jbird
So the chief law enforcement and legal officers in 17 states are prepared to shred existing contract law.
They should all be impeached
They should all be impeached
Posted on 2/19/21 at 11:23 am to Jbird
quote:
The existing repayment system for Federal student loans provides insufficient opportunity for struggling borrowers to manage their debts or recover from the current economic crisis
Complete and total lie. You can stretch your term out to 25 years, go income based, a combo of those even.
Plus they aren't requiring payment or charging interest during the pandemic. Even someone laid off can afford $0 a month payments
This post was edited on 2/19/21 at 11:26 am
Posted on 2/19/21 at 11:23 am to Jbird
More government to fix the problems of more government.
What could go wrong?
What could go wrong?
This post was edited on 2/19/21 at 11:23 am
Posted on 2/19/21 at 11:23 am to MeatCleaverWeaver
quote:Lol lead by New York of course.
I bet I can score 90% or higher at guessing the states without first peeking.
Posted on 2/19/21 at 11:23 am to CGSC Lobotomy
quote:
Are those the 17 individuals who we who have paid off our loans can sue?
I graduated years ago before the "money laundering to leftists" scheme was fully implemented, so I paid a reasonable amount for what I got (or mostly my parents did). The left has absolutely ruined higher education and it has been ruined long enough that a lot of people do not have the living history to have seen that it could be so much better.
I would be so pissed off if I graduated in the last 20 years or so and paid everything.
Posted on 2/19/21 at 11:23 am to Jbird
The only thing predatory is the universities and teachers lying to kids telling them that 200k in debt to get an English degree is worth it because you will be a college graduate. This plan would only temporarily relieve a symptom of the problem, but it will make the problem way worse overall because schools will keep charging whatever they want for a degree knowing that the government will just cancel the debt.
Posted on 2/19/21 at 11:24 am to Jbird
Why not mortgage and car payments. Also please do away with my tax bill.
Posted on 2/19/21 at 11:32 am to Jbird
What about those of us who paid off our student loans by living and spending frugally for several years?
This is me. Graduated 16 years ago and my wife and I paid off our student loans early, just last year. Loans were $90k originally. Deferred for a few years and then paid aggressively until it was gone. Made several financial sacrifices to do so and lived below our income for a long time just to get out of student loan debt. Every month we paid an additional $300 toward the principle. Every annual bonus I ever received until last year went into paying the student loan debt. I just bought our first new vehicle last year. Once we had under $10k loan balance left, we just sucked it up and used some savings to pay it all at once and knock it out. Felt great.
I cant speak for everyone but I would explode in anger if the feds cancelled student loan debt.
quote:
I would be so pissed off if I graduated in the last 20 years or so and paid everything.
This is me. Graduated 16 years ago and my wife and I paid off our student loans early, just last year. Loans were $90k originally. Deferred for a few years and then paid aggressively until it was gone. Made several financial sacrifices to do so and lived below our income for a long time just to get out of student loan debt. Every month we paid an additional $300 toward the principle. Every annual bonus I ever received until last year went into paying the student loan debt. I just bought our first new vehicle last year. Once we had under $10k loan balance left, we just sucked it up and used some savings to pay it all at once and knock it out. Felt great.
I cant speak for everyone but I would explode in anger if the feds cancelled student loan debt.
This post was edited on 2/19/21 at 11:45 am
Posted on 2/19/21 at 11:33 am to Jbird
quote:They should stick to their own job.
A coalition of 17 state attorneys general is calling for the cancellation of up to $50,000 in federal student loan debt for all borrowers.
Posted on 2/19/21 at 11:39 am to Jbird
Why is $50K the magic number for loan forgiveness?
Why is 15/hr the magic number for minimum wage?
Why is 15/hr the magic number for minimum wage?
Posted on 2/19/21 at 11:40 am to Jbird
I am Pretty into at least the idea of canceling interest on government loans.
It would provide a huge relief to borrowers.
You have a whole generation of people paying hundreds a month to the government that they could be spending in the economy. And that’s not just to repay taxpayer dollars.
It would provide a huge relief to borrowers.
You have a whole generation of people paying hundreds a month to the government that they could be spending in the economy. And that’s not just to repay taxpayer dollars.
Posted on 2/19/21 at 11:45 am to Jbird
Pay EVERY STUDENT LOAN......Current and past!
If not, this is another "redistribute the wealth" tactic, and their are many.
If not, this is another "redistribute the wealth" tactic, and their are many.
Posted on 2/19/21 at 11:45 am to SammyTiger
quote:
You have a whole generation of people paying hundreds a month to the government that they could be spending in the economy. And that’s not just to repay taxpayer dollars.
What exactly do you think the govt does with the money it receives?
You act like it is burned or something
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