re: Biden to cancel $1.2 Billion in student loans

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Democracy, authoritarian, dictator, what constitution?

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I've often wondered what keeps politicians or states from doing exactly this.

EDIT: Oops, mean to quote OP.

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Not enough. Cancel more. End the oppression.

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WHy not just cancel all mortgages while we're at it. A lot more is owed on homes than SL, so... why not end that "oppression" too?

Quote from Joe:
“How many divisions does the Supreme Court have?”

nm

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If you look at the credit records of people that default on student loans... their SL is rarely the ONLY or even the largest delinquency. Rewarding irresponsibile behavior will not help them.

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these are the same people pay minimum on due date and keep accruing interest into the next billing cycle.

always exclaiming that they will pay off the balance next month.

This is something that has been in place for a long time. Payers who do not miss a payment and have Federal debts for ten consecutive years and work in the appropriate field, can apply to have the rest forgiven at that ten year mark.

This is nothing to write a story about. That’s the most compelling part of this. It’s just the way Federal loans work. It’s not him doing anything out of the ordinary.

LINK

It's a self-perpetuating mess that government can't fix because government is the cause/problem. The FEDGOV decided they were going to back student loans. In response, the colleges decided to charge whatever the hell they want because, why not, it's going to be paid by a solvent party. They aren't forced to compete in a competitive marketplace. The school could charge $5k or $50k a semester. Doesn't matter. It would be paid by a lender. I hope one day we are all fortunate enough to own a business where you know that regardless of the amount of your fees it will be paid, in full, on time.

The colleges keep raising tuition and the students keep taking out more and more government backed loans to keep up with the hike...all while inflation is stagnating wages and increasing the cost of living...thus making it more and more difficult to ever pay back the loan.

If getting a student loan was akin to getting a business loan, with the lender having to absorb much more risk, you would see the tuition marketplace respond in kind.

Fool them once, shame on Biden. Fool them twice...

PURE corruption and insanity. These people are INTENTIONALLY destroying this country.
Jimmy Carter and Co were incompetent and weak. This group is not only incompetent but a group of criminals that HATE AMERICA.

You know what? Great. Go ahead and do it. I never thought I would arrive at this point, but at least this would benefit my wife and my family.

We're giving away billions of dollars to Ukraine and to illegal immigrants with no ROI whatsoever. If my tax dollars are going to be stolen, at least give something to benefit some of the people that are being stolen from.

We can't help veterans and sick people (mentally and physically) in this country, but we can provide the rest of the world everything. Our infrastructure is falling apart, but we don't have the funding to fix anything in a timely fashion. What a joke.

If we can give everyone else billons, I don't need to be taxed.