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Do you think Biden will cancel $50k of student loans?

Posted on 4/3/21 at 10:00 pm
Posted by Clemsontigers02
Member since Sep 2020
743 posts
Posted on 4/3/21 at 10:00 pm
That’s just flat out scary if he cancels $50k of student loan debt for people. That’s what the average American makes in a year give or take and he can sign it away with his pen.
Posted by Jrv2damac
Kanorado
Member since Mar 2004
64922 posts
Posted on 4/3/21 at 10:01 pm to
Nah
Posted by PsychTiger
Member since Jul 2004
98648 posts
Posted on 4/3/21 at 10:01 pm to
I hope not.
Posted by HailToTheChiz
Back in Auburn
Member since Aug 2010
48868 posts
Posted on 4/3/21 at 10:05 pm to
No
Posted by jimbeam
University of LSU
Member since Oct 2011
75703 posts
Posted on 4/3/21 at 10:06 pm to
What’s another few trillion among friends?
Posted by LordSaintly
Member since Dec 2005
38803 posts
Posted on 4/3/21 at 10:08 pm to
He said he wouldn't...
Posted by oldskule
Down South
Member since Mar 2016
15476 posts
Posted on 4/3/21 at 10:08 pm to
It will be at least $10K.

And I think he will go with $25K....he is getting pressure from Elizabeth and Bernie.

$50K would be a HUGE mistake.
Posted by DiamondDog
Louisiana
Member since Nov 2019
10500 posts
Posted on 4/3/21 at 10:08 pm to
I’m thankful he just delayed payments and interest to October. I was going to refinance away from the Govt last year but here I am...riding that no interest, no payments wave.

I’m gonna retire with these things at this point.
Posted by AquaAg84
Member since May 2013
1347 posts
Posted on 4/3/21 at 10:16 pm to
Your title should be reassigning instead of cancelling. It will have to be paid for by someone, not cancelled.
Posted by Flats
Member since Jul 2019
21646 posts
Posted on 4/3/21 at 10:18 pm to
quote:

Your title should be reassigning instead of cancelling. It will have to be paid for by someone, not cancelled.



Doesn't seem to matter how often this gets pointed out. Debt is transferred, not "cancelled". "Cancelled" makes it sounds like the debt fairy waived her magic want and it disappeared. Which, of course, is why they use that term.
Posted by oldskule
Down South
Member since Mar 2016
15476 posts
Posted on 4/3/21 at 10:21 pm to
ADDER:

If the loan is in default, it should NOT be forgiven.

Also, if you did not finish school, it should not be forgiven.

However, none of them should be forgiven, period.
Posted by BearCrocs
Member since Aug 2013
6411 posts
Posted on 4/3/21 at 10:22 pm to
What about those with private loans?
Posted by shoelessjoe
Member since Jul 2006
9890 posts
Posted on 4/3/21 at 10:24 pm to
I have a wife and two children with college tuition. frick canceling their debt. If you can’t pay for it, don’t take her money.
Posted by TimeOutdoors
AK
Member since Sep 2014
12119 posts
Posted on 4/3/21 at 10:24 pm to
Will save it for a campaign promise in 2024.
Posted by Bass Tiger
Member since Oct 2014
45919 posts
Posted on 4/3/21 at 10:25 pm to
If EO Joe cancels $50k of student loan debt he’s telling the American people he’s clueless about what the intrinsic value/meaning of money truly is, in other words, he’s showing responsible Americans he’s not only a complete loon he’s also woefully ill equipped to be the leader of the free world.
Posted by Bass Tiger
Member since Oct 2014
45919 posts
Posted on 4/3/21 at 10:25 pm to
If EO Joe cancels $50k of student loan debt he’s telling the American people he’s clueless about what the intrinsic value/meaning of money truly is, in other words, he’s showing responsible Americans he’s not only a complete loon he’s also woefully ill equipped to be the leader of the free world.
Posted by Big Jim Slade
Member since Oct 2016
4908 posts
Posted on 4/3/21 at 10:27 pm to
Why not credit card debt? Why not 84 month upside down car loans? Or mortgages?
Posted by oldskule
Down South
Member since Mar 2016
15476 posts
Posted on 4/3/21 at 10:28 pm to
Good point....not sure how that will be worked out.

I do feel terrible for those kids who recently paid the loans off honorably!


Posted by RooBoy
Member since Apr 2021
396 posts
Posted on 4/3/21 at 10:28 pm to
Yep - and YOU ARE GONNA PAY FOR IT
Posted by jaytothen
Member since Jan 2020
6395 posts
Posted on 4/3/21 at 10:44 pm to
Do I get reimbursement for being a responsible adult and paying off my debt?
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