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Its' official: Biden just canceled $5.8 BILLION in student loans -- and more will get xcld
Posted on 6/3/22 at 2:59 pm
Posted on 6/3/22 at 2:59 pm
The largest single loan act of forgiveness in the history of the United States has happened. Good gracious. 
LINK
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Posted on 6/3/22 at 3:03 pm to JetDawg
fighting inflation with inflationary policies
Posted on 6/3/22 at 3:03 pm to JetDawg
quote:
The cancellation applies to all those who attended schools operated by the now-defunct Corinthian Colleges, one of the largest for-profit education companies that filed for Chapter 11 bankruptcy in 2015.
Corinthian Colleges has faced several lawsuits since its founding in 1995 — but perhaps the most notable is from 2013, when Vice President Kamala Harris sued Corinthian while she was attorney general of California for “deceptive and false advertising and recruiting” among other allegations, according to the department.
I'm no fan of wiping out student loans, but it sounds like this was a scam.
Posted on 6/3/22 at 3:04 pm to JetDawg
It’s not debt cancellation it’s debt redistribution.
Posted on 6/3/22 at 3:05 pm to JetDawg
I’m sure the working class hispanic/white/asians will love this
Posted on 6/3/22 at 3:06 pm to Aubie Spr96
quote:
I'm no fan of wiping out student loans, but it sounds like this was a scam.
Cool, why do I need to pay for it?
Posted on 6/3/22 at 3:06 pm to JetDawg
quote:
The U.S. Department of Education canceled about $5.8 billion in outstanding student loans for more than 560,000 borrowers in the largest single loan forgiveness action taken by the government to date, the department announced Wednesday.
So we can assume the US Dept. of Education will be operating on a budget minus $5.8 billion, right? If this is true cancellation, and not just shifting this onto taxpayers, then the dept of education's budget over the past few years can be averaged, then a cut of $5.8 billion can occur right?
Posted on 6/3/22 at 3:06 pm to Aubie Spr96
quote:
I'm no fan of wiping out student loans, but it sounds like this was a scam.
Perhaps the entity acting as lender should be doing more due diligence on these things.
Posted on 6/3/22 at 3:10 pm to Y.A. Tittle
quote:
Perhaps the entity acting as lender should be doing more due diligence on these things.
You'd think so... but since you can't default on this type of loan why would they care?
Posted on 6/3/22 at 3:10 pm to JetDawg
Let the give aways begin. If you're going to buy an election you have to go big or literally you go home. What's up next - reparations, national gas rebates. It's damn easy to crank up the printing press. 10%, 15% inflatin is no big deal if you have free money!!!
Posted on 6/3/22 at 3:11 pm to LNCHBOX
quote:
Cool, why do I need to pay for it?
Because the government backed loans had that language built in I think
Posted on 6/3/22 at 3:12 pm to Ross
quote:
fighting inflation with inflationary policies
Buying votes.
Posted on 6/3/22 at 3:15 pm to Ross
quote:
ighting inflation with inflationary policies
Indeed.
The United States is on the verge of an economic collapse. Combined with the absolute decadent, debased and depraved immoral state of our country to go along with it, is it no wonder that God Himself is bringing about the U.S.'s destruction -- and He's doing it by allowing us to destroy ourselves from within -- just like the old Roman Empire.
Posted on 6/3/22 at 3:16 pm to JetDawg
I hate that cocksucker with a passion.
Posted on 6/3/22 at 3:17 pm to JetDawg
What authority does he have to do this?
Posted on 6/3/22 at 3:17 pm to JetDawg
quote:
Its' official: Biden just canceled $5.8 BILLION in student loans -- and more will get xcld
And just like with the bank bailouts this won't be the last
Posted on 6/3/22 at 3:18 pm to Powerman
quote:
but since you can't default on this type of loan why would they care?
I mean, declaring that doesn't magically make you able to squeeze blood from a turnip.
It's mindboggling that this "scam" college bilked nearly $6 billion out of the Federal Government. The whole yearly operating budget of LSU appears to be just over $500 million.
Posted on 6/3/22 at 3:19 pm to JetDawg
ahh good ole vote buying
Posted on 6/3/22 at 3:20 pm to boogiewoogie1978
quote:
Because the government backed loans had that language built in I think
They had language that some twat would come into office and buy votes by giving away my money to pay for other peoples' mistakes when choosing college?
Posted on 6/3/22 at 3:26 pm to Aubie Spr96
quote:
I'm no fan of wiping out student loans, but it sounds like this was a scam.
They only did this because it gets "Biden paying off student loans" in the headlines while it's a relatively small amount compared to what he campaigned on.
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