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Biden Proposes Cancelling $50,000 In Student Debt For Every American
Posted on 4/1/21 at 5:42 pm
Posted on 4/1/21 at 5:42 pm
President Joe Biden's Secretary of Education is looking into whether the president can cancel up to $50,000 in student loan debt per borrower with the wave of his pen.
White House Chief of Staff Ron Klain said at a Politico Playbook event Thursday that Biden had asked Education Secretary Miguel Cardona to figure out if the president had legal authority to make the move and write the president a report.
On the campaign trail, which he reiterated more recently, he said he wanted to wipe away $10,000 per borrower, but prominent Democrats, including Senate Majority Leader Chuck Schumer, Sen. Elizabeth Warren and Rep. Alexandria Ocasio-Cortez have pressed him to pursue $50,000 in debt relief per student.
LINK
White House Chief of Staff Ron Klain said at a Politico Playbook event Thursday that Biden had asked Education Secretary Miguel Cardona to figure out if the president had legal authority to make the move and write the president a report.
On the campaign trail, which he reiterated more recently, he said he wanted to wipe away $10,000 per borrower, but prominent Democrats, including Senate Majority Leader Chuck Schumer, Sen. Elizabeth Warren and Rep. Alexandria Ocasio-Cortez have pressed him to pursue $50,000 in debt relief per student.
LINK
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Posted on 4/1/21 at 5:44 pm to 14&Counting
This will solve nothing......but insure future liberal votes!
Fiscal responsibility is critical to a successful economy and capitalism!
This teaches one thing: that government will take care of me.....
Horrible Decision!
Fiscal responsibility is critical to a successful economy and capitalism!
This teaches one thing: that government will take care of me.....
Horrible Decision!
This post was edited on 4/1/21 at 5:48 pm
Posted on 4/1/21 at 5:45 pm to 14&Counting
People with private loans will be so pissed.
Posted on 4/1/21 at 5:46 pm to 14&Counting
What if I don't have student debt? Can I just have $50,000? Why limit it to student loans? A forgiven $50,000 loan would cover that new Bronco I've had my eye on. C'mon Joe! Cmon man.
This post was edited on 4/1/21 at 5:48 pm
Posted on 4/1/21 at 5:46 pm to jlovel7
How about people paid off their own debt. I will be pissed. 35 grand of MY debt.lame
This post was edited on 4/1/21 at 6:25 pm
Posted on 4/1/21 at 5:47 pm to 14&Counting
All this does is keep people from paying down the debt they do have thinking that it will some day go away and they can save the money. I just don't see this being approved.
Posted on 4/1/21 at 5:49 pm to 14&Counting
Will people who were responsible and paid their loans off get $50,000 checks?
Posted on 4/1/21 at 5:49 pm to TimeOutdoors
Again, must be April 1....
Posted on 4/1/21 at 5:50 pm to 14&Counting
How about landlords that are having to sell their property because nobody has any responsibility for rent! This sh it isn’t sustainable...
Posted on 4/1/21 at 5:51 pm to 14&Counting
I graduated from TCU in 2011, and even with a 25% academic scholarship I still had to pay for the rest.
After graduating from TCU in 2011, I consistently worked 2 jobs every year until 2018 when I finally finished paying off over $100k in loans. I'll never forget when I made that last payment in June 2018 - wrote a check for $5,000 to finish it off.
I feel like me, more than anyone else, has the right to say - frick this. frick everything about this. What about people like me who actually paid them off.
After graduating from TCU in 2011, I consistently worked 2 jobs every year until 2018 when I finally finished paying off over $100k in loans. I'll never forget when I made that last payment in June 2018 - wrote a check for $5,000 to finish it off.
I feel like me, more than anyone else, has the right to say - frick this. frick everything about this. What about people like me who actually paid them off.
Posted on 4/1/21 at 5:51 pm to 14&Counting
Except of course the ones that were responsible and already paid it off.
Posted on 4/1/21 at 5:52 pm to 14&Counting
The debt would still be paid right? Just not by the person who signed for the loan.
Posted on 4/1/21 at 5:53 pm to 14&Counting
Send every American $300,000. Get it over with. Pull the band aid off.
Posted on 4/1/21 at 5:54 pm to 14&Counting
What happens when there are trillions more of student debt in a few years?
Another bailout?
As colleges continue to raise tuition and fees through the roof?
Does anyone else see how this essentially becomes a taxpayer burden of a slush fund for academia elites?
Another bailout?
As colleges continue to raise tuition and fees through the roof?
Does anyone else see how this essentially becomes a taxpayer burden of a slush fund for academia elites?
Posted on 4/1/21 at 5:55 pm to 14&Counting
And does this apply just for government backed loans?
What about private education loans? That’s a lot of the student debt.
What about private education loans? That’s a lot of the student debt.
Posted on 4/1/21 at 5:57 pm to 14&Counting
Not every American. It will be means tested, and I won't get it.
frick this fricking shite.
frick this fricking shite.
Posted on 4/1/21 at 5:59 pm to 14&Counting
I worked to pay for school. Where's my money mother fricker?
Posted on 4/1/21 at 5:59 pm to 14&Counting
The sooner we burn this country to the ground the better.
We should not oppose. Just let these idiots do it and watch the collapse happen. This country need to fail and break apart. That’s the only real solution.
Us conservative people need to be damned sure to take control of the SE and exclude Georgia. We need to once again burn Atlanta to the damned ground.
We should not oppose. Just let these idiots do it and watch the collapse happen. This country need to fail and break apart. That’s the only real solution.
Us conservative people need to be damned sure to take control of the SE and exclude Georgia. We need to once again burn Atlanta to the damned ground.
Posted on 4/1/21 at 5:59 pm to Tigers1984
quote:
Will people who were responsible and paid their loans off get $50,000 checks?
Of course not. They are the wrong kind of people.
Posted on 4/1/21 at 6:00 pm to LuckyTiger
quote:
What happens when there are trillions more of student debt in a few years?
Cancelling debt doesn't fix the root of the problem - college has become way too expensive. Even state schools. Tuition prices have skyrocketed BECAUSE of student loans. It's a symbiotic relationship. Institutions see all this easy to access money out there and incoming 17/18 year olds don't really think critically about how much it truly costs to go to school.
TCU is unrecognizable to me these days. So many new fancy buildings have been built in the 10 years since I was a student. Tuition is also twice as much as it was when I went there. Over a 100% increase in only 10 years. The average person can't afford to go to TCU these days. They are only catering to the rich 1%ers from California now.
The massive increase in tuition prices have nothing to do with the quality of the education. It's about the new buildings, facilities and amenities.
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