re: Biden leaning towards canceling 10K in student loan debt if u earn less than 125K

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Anyone that gets this loan debt forgiveness should get a massive credit ding.

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I would personally disallow them from any future loans at my institution

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there's a reason you don't have an institution...

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make the richest and corporate America wealthier and meant all us middle class peeps paying more in taxes, but keep living the dream.

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This debt forgiveness is going to mostly white collars middle class but the poor and lower class is paying for it

And the democrats are the party of Wall Street and the rich nowadays

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Anyone that gets this loan debt forgiveness should get a massive credit ding. I would personally disallow them from any future loans at my institution as they obviously don't know what a loan agreement is and can't be trusted to make good on the agreement.

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I know exactly what a loan agreement is. I had one on my car that is now paid off. I have one on my mortgage. Also have a bunch of different ones for my student loans, all of which have forgiveness clauses that state that the forgiveness paradigm may change going forward.

It amuses me to no end watching people who have never actually read a federal student loan agreement making asses of themselves as though they have the faintest idea as to what they are talking about

Both having MFA’s can’t equal 125k on a double barista income.

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Im not talking about giving them college tuition. Im talking about doing it for kids in middle school coming from poor households. Like $60k or less households

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Doing what?

These handouts all result in the same thing...taxpayers get killed, and everyone pays more for everything because of inflation.

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Doing what? These handouts all result in the same thing...taxpayers get killed, and everyone pays more for everything because of inflation.

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After giving out $4+ Trillion over three stimulus packages and handouts to companies that furloughed employees and participated in stock buybacks, we survived two years without substantial inflation. What tipped the scale? Gas prices and supply chain disruption.

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The biggest deficit issues comes from the tax break from Republicans which just make the richest and corporate America wealthier and meant all us middle class peeps paying more in taxes, but keep living the dream.

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This tax break is going to be given to corporations too. Millions of consumers with $10k-20k of newfound financial freedom. Time to buy some shite, likely through more debt.

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That would surprise me. It's not like this is being handed out to people. On a month to month basis, this isn't going to change people's budgets markedly

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He also plans to lower the minimum payment requirement by half, extended the payment holiday through the rest of the year, and a few other things I can't recall.

And he's doing this for a lot of people who were able to pay the loans anyway, not just the single mom bus driver with $40k in debt from U Phoenix.

Eta
Someone whose debt he ISN'T paying is the single mom bus driver who couldn't go to college. But the married young lawyers who make 200k combined and are about to start peaking in their careers will enjoy the better financial situation I'm sure.