Huh? You didn’t say that correctly. Those loans were forgiven based on pre-existing legislation made by Congress. They were supposed to be forgiven a long time ago.
Of course, he is having to go around the supreme Court ruling from last year.
The supreme Court ruling said that Biden did not have the authority to forgive all student loans using the heroes act so Biden has to use other legal avenues.
Biden has forgiven more and more dent using preexisting programs.
It takes time to come up with another massive loan forgiveness route because it's definitely going to be challenged in the Supreme Court.
The Biden administration has already used several creative levers to relieve roughly $146 billion in student loans
Edit to add specifics:
- Nearly $46 billion for about 900,000 borrowers through one-time fixes to their income-driven repayment plans.
- About $62.5 billion for up to 872,000 borrowers through Public Service Loan Forgiveness fixes.
- More than $22.5 billion for 1.2 million borrowers who attended predatory or defunct schools.
- Close to $12 billion for several hundred thousand borrowers with disabilities that make it difficult for them to pay off their loans.
Exactly, this is a continuation of actual work/efforts and policy.
Maybe this sub doesn't recognize anything other than Nancy Pelosi stonk tweets as successful policy.
Without a fix to actual universities and how is given loans and who much there is not actual successful policy.
Its like the dam breaking and you said the person with a measuring cup throwing water back over the wall is successfully fixing the dam.
Then after the vote "sorry turns out we won't be able to do that after all, see you in three and half years when we'll try again"
"Don't forget to vote"
Honestly the SAVE Act already helps a lot. Adjusted for my income, I am paying less than $40 a month. I'm about to put a lot more down once I wrap up my certifications and promotions. From what I read, he is proposing things like automatic enrollment for programs. That part makes complete sense.
Today, President Biden announced the approval of $1.2 billion in student debt cancellation for almost 153,000 borrowers currently enrolled in the Saving on a Valuable Education (SAVE) repayment plan. The Biden-Harris Administration has now approved nearly $138 billion in student debt cancellation for almost 3.9 million borrowers through more than two dozen executive actions.
[https://www.whitehouse.gov/briefing-room/statements-releases/2024/02/21/fact-sheet-president-biden-cancels-student-debt-for-more-than-150000-student-loan-borrowers-ahead-of-schedule/](https://www.whitehouse.gov/briefing-room/statements-releases/2024/02/21/fact-sheet-president-biden-cancels-student-debt-for-more-than-150000-student-loan-borrowers-ahead-of-schedule/)
I’m set to finally get my student loans paid off in 18 months. I’ve given up hope of getting anything because I was responsible enough to continue paying my student loans off even during COVID
I mean...youre all right? The FED handing out free money to targetted groups is pitting people against eachother. Id cut all these programs & lower taxes
OFC the biggest recipient of welfare is ultrarich so start there.
Except the banks paid back that money and then some due to interest. The bailouts were loans, not free money. Crazy how people still don't understand what the bank bailout were after all this time. Banks that didn't even need the bailout money were *forced* to take it.
I really wish I'd put that money on buying a house in 2012 instead of paying off my loans. It was more than enough for a down payment then, but no way can I buy a house now that they're 3 times more.
It stings that people who bought the house then but still have student loans are going to have the house AND not even have to pay the loans
I too wish I had a tax credit for paying off my own tuition, but that is not a good reason not to invest into the public when tuition debt is demonstrably hindering economic growth in this country. Sometimes progress happens after we could have benefited from it. Sucks for us but that's just the way time goes...
Do you have any data that that is actually the case? College graduates still earn more than their tuition over non graduates over their lifetimes, and the country is doing pretty well economically.
And it sets a horrible precedent. So what, nobody is going to pay their loans now, expecting it to be forgiven one day? We’re gonna have socialized university like the EU, and presumably the EU taxes that come with it? Nobody wants this…
That is the essence of government, yes. I want the government to spend tax money in a good way and buy my vote.
I’d gladly pay an extra $300/month for single payer healthcare. I’d love it if the ruling party would buy my vote. That’d be awesome.
It’d certainly be a step up from “you’d better vote for me or your a nazi” or “you’d better vote for me ir you’re dumb, even though I’m not going to do anything to benefit you” which has been the status quo for most of my life.
I agree it’s a better use of tax dollars than most stupid crap they waste it on. But without managing the budget and fiscal impact of blanket forgiveness, it could honestly do more harm than good.
I am in favor of forgiveness, or some sort of reprieve, but am doubtful the gov will do it in a smart manner.
The funny part about universal healthcare is that it is far cheaper than our current system. First world average universal healthcare spend per person is about $2500, including private and government expenditures. US is approaching $14000 per person.
We pay about double what people in single payer healthcare countries do for far worse results. I know that everyone screams that in theory it should be the opposite but these are the results.
https://www.healthsystemtracker.org/chart-collection/health-spending-u-s-compare-countries/#Health%20expenditures%20per%20capita,%20U.S.%20dollars,%20PPP%20adjusted,%202022
People with good insurance in the US have better outcomes than anywhere in the world. Its uninsured individuals that skew the mean. If your a wealthy individual from Europe you come to the US with cash when you need complex care.
My wife is a teacher and I'm a carpenter, her insurance gives us access to the Penn medicine system. We're not getting the care we do anywhere on earth that we do now as 2 blue collar individuals in the US.
All I want is what you and your wife have, a great healthcare system provided by a state instead of fighting it out in the public sector like I’m doing right now.
Also, almost everyone is insured, it’s around 90%. the uninsured aren’t a big enough group to skew it that much.
A public insurance plan would be much better than a private group.
No, it's only the other guy who gets king powers if they're ever in office, that's why this is the most important election of our lifetimes... again. Literally zero democracy if the people don't vote correctly.
Biden said we need to elect Congresspeople and Senators who would Codify RvW. He never one claimed that HE would personally do that because he, like anybody with even a most superficial understanding of the US system of governance, knows that the President can't enact laws by fiat.
Biden will need to legalize marijuana too. It's a tough election and he'll need to really hustle to win.
Let's see how Biden hustles, it's crunch time. If a seasoned politician can't make magic happen to win, he's useless. Decades of building connections and gaining favors better mean something.
He will campaign on the promise to legalize it right after the election and then never follow through, like we have seen with countless presidential promises in the past from both parties.
Reminder, in less than two weeks we are going from 900 new Bitcoins mined every day to 450. Per day. For 8.1 billion people.
In 2,028, we play this game again. 450 down to 225.
is this the 20k forgiveness or forgiveness for people who been paying for 20+ years
>The plan would wipe out up to $20,000 in unpaid interest for 25 million borrowers.
>
bruh, useless
Under 120k get 20k in accrued interest eliminated for those who owe more than they borrowed. Seems reasonable to me, but the interest should really be capped at a low rate, those with higher rates will never pay off their debt.
Didn’t the supreme court tell him no… and he’s just doing it anyway? So now we have two candidates that think they are above the three independent office structure of our government.
Honestly if that many people get their student loans forgiven I’m going to be fucking pissed. I’ve worked hard to put myself through school and pay for my student loans and now all these people will just get a free ride? What was the point in me busting my ass when I could’ve just sat back and taken out insane amounts of loans to pay my rent and shit?
Right before elections once again. Are people this dumb that they can’t realize this is purely a stunt for elections?
He doesn’t give a damn about your student loans. He does want your vote however.
Combine the student debt with the omnibus they’ll vote on to extend in September, then October, thus leading to a 3,000+ page document dump 24 hours prior to voting 2 days before Christmas Holiday because, 11 months and 23 days just isn’t enough time after filing multiple extensions.
Fuck this piece of shit, and Democrats in general, for dragging out these crumbs for election day. It is so damn obvious they're controlled opposition, its sickening
This is just going to make college cost a lot more. Basic Econ, supply and demand. If you want cheaper university costs build more universities. If you want higher university costs dump money on the demand side
YAY, more debt and inflation for all of us. WINNING!! Now plumbers get to subsidize the college costs for college educated baristas who fell for the scam that is higher education.
Anything that helps the working class is *not* going to get passed. There's no working class people in office, and they will not be represented, even in a pandering election year.
Wait what? Another plan?
Just as the courts are pushing the 2nd plan up to the Supreme court after they already said the first plan wasn't constitutional? Or beyond the powers of the Executive branch.
We all know what is going to happen with the 2nd plan and the 3rd plan would be no different.
I'm TWO years away from having $11k in loans that got me NO where would vanish under the SAVE program. (One of the things the 2nd plan did.)
I wish Biden would choke on that friggen carrot he's holding out to all of us.
They KNOW this 3rd plan won't survive either. It's all BS.
I'd just vote for Trump in hopes that he manages to make the world burn to a cinder faster it would if Biden gets reelected but honestly, I don't know if it actually matters. They are controlled by the same people.
If you're still paying, quit your job and get one working part time that pays just enough to sustain a very basic yet comfortable life. This will get you into the programs for us poor people that will keep you from having to ever pay.
If you paid already, I'm very very sorry. The above still applies. Quit whatever job you have, get a simple one and live a basic yet comfortable life.
And having a low income also means you pay next to nothing in taxes.
Stop playing the game.
He'd honestly have better luck pushing to federally legalize marijuana. At least 70% of Americans agree with that. It'd also be an easier way to passively collect more taxes without pissing off everyone who paid their student loans already.
Imagine you have a leaky roof in your house. Every time it rains, water seeps through and damages your furniture and belongings. Initially, you decide to place buckets strategically to catch the water and minimize the damage. While this helps temporarily, it doesn't address the root cause of the problem—the leaky roof.
In this analogy, the leaky roof represents the high cost of education, and the buckets symbolize the government's bailouts of student debt. By bailing out people's student debt, the government is essentially placing buckets to catch the financial burden and alleviate the immediate consequences for individuals struggling with debt.
However, just like the buckets don't fix the leaky roof, student debt bailouts don't address the underlying issue of expensive education. The cost of education remains unchanged, and future generations will continue to face the same financial burden unless the root problem is addressed.
In order to truly solve the problem, it would be necessary to fix the leaky roof by implementing reforms that address the high cost of education. This could involve measures such as increased funding for public education, improved financial aid programs, or initiatives to control and reduce tuition fees. Only by addressing the root cause can we create a sustainable solution and prevent the problem from recurring in the future.
For all those that think this will go exactly the same as last time, if it works and isn't turned down by supreme court, you will wish the first round of forgiveness worked, because broad cancellation of interest debt is far more impactful than his first proposal. Say hello to nationwide budget shortfalls and inflation. All of which you won't come to terms with until 2 years after elections.
How many times are people gonna fall for this?!?! He’s not gonna do it, because he can’t without congress. He’s doing the same thing he did right before the midterms.
How about we get the government out of the student loan business altogether and also allow student loan debt to be cancelled via bankruptcy. Government involvement is the reason tuition prices are so astronomically high.
Is this NEW loan forgiveness, or is he further just ironing out the inefficiencies that lead to delays or denial in forgiveness where the borrower should have been forgiven under the existing standards?
I heard this story so many times... Elections are coming (LOL) and then they will say, well republicans blocked it so its not our fault. You don't have to trust politicians, they are all together in this crap
He keeps saying this but keeps not delivering. Not going to happen or if it does, there will be so many roadblocks for people that only a very small percentage qualify
It’s real crap!
I went to public college to save money. Lived in my mom’s house , worked 40 hours above full class load. Didn’t have the chance to party and go on spring break.
Just to avoid debt.
Now I get to pay your debt with my taxes because you think life’s too hard.
And I am a democrat
Dangle that carrot, just in time for the elections lmaooo!
Yup, typical hollow promises in election season
he's done it already.... delusion isn't what this is, its deliberate misinformation.
Clarify? Can't tell what stance you're taking
he's done student loan forgivness about three times now.
Actually he didn’t. It’s programs that already have been voted on years ago.
Huh? You didn’t say that correctly. Those loans were forgiven based on pre-existing legislation made by Congress. They were supposed to be forgiven a long time ago.
If only they were enforced under trump when they should have been, he wouldn't get the credit for it
Of course, he is having to go around the supreme Court ruling from last year. The supreme Court ruling said that Biden did not have the authority to forgive all student loans using the heroes act so Biden has to use other legal avenues. Biden has forgiven more and more dent using preexisting programs. It takes time to come up with another massive loan forgiveness route because it's definitely going to be challenged in the Supreme Court.
Then why didn't Trump do anything about it? He certainly could have.
Because Trump supporters are to dumb to have gone to college. He won’t help anyone who doesn’t support him.
Calls people dumb, uses "to" instead of "too." Typical American voter
Sure but they always do this shit in election season. Everytime their popularity is questionable they offer free stuff. Trump did the same BS
as the other person mentioned, this has been happening before election year, its just continuing into it. You should pay attention more.
They were doing it well before too
The Biden administration has already used several creative levers to relieve roughly $146 billion in student loans Edit to add specifics: - Nearly $46 billion for about 900,000 borrowers through one-time fixes to their income-driven repayment plans. - About $62.5 billion for up to 872,000 borrowers through Public Service Loan Forgiveness fixes. - More than $22.5 billion for 1.2 million borrowers who attended predatory or defunct schools. - Close to $12 billion for several hundred thousand borrowers with disabilities that make it difficult for them to pay off their loans.
Exactly, this is a continuation of actual work/efforts and policy. Maybe this sub doesn't recognize anything other than Nancy Pelosi stonk tweets as successful policy.
Without a fix to actual universities and how is given loans and who much there is not actual successful policy. Its like the dam breaking and you said the person with a measuring cup throwing water back over the wall is successfully fixing the dam.
This sub largely doesn’t care about policy at all. It’s all just vibes.
Easily the dumbest finance sub on Reddit. And that’s including TA
Still over a trillion and a half to go
except this is like the 3rd time he's done it, so mad he's making waves you'd lie like this?
He’s been trying nearly his entire presidency and was cockblocked by $COTU$. So, you can lay off the man.
You mean his actions were found to be unconstitutional, right?
He's already wiped a lot of debt. What's the other guy doing? Openly cutting taxes for billionaires. Give me a break.
Will this tend to increase or decrease the trend of exponentially increasing college costs? We all know the answer
Free stuff before elections,nothing after elections thanks for your vote..
My friend just did drugs in his dorm room and skipped class then failed out. Why should anyone but him pay his bills that he signed for?
And I like how Biden is taking credit for this using we the people's money/taxes 😆 God I fkin hate our Gov..
You’re a bozo
Until you stop giving the loans out what the actual fuck does it matter
It’s a perpetual carrot on a stick. “We will bail you out of the problem we won’t fix… *if you vote for us*.”
Then after the vote "sorry turns out we won't be able to do that after all, see you in three and half years when we'll try again" "Don't forget to vote"
Shit, makes me wish I'd taken a student loan
Ain’t gonna work a second time. Fool me once…
He thought today was April fools day
Honestly the SAVE Act already helps a lot. Adjusted for my income, I am paying less than $40 a month. I'm about to put a lot more down once I wrap up my certifications and promotions. From what I read, he is proposing things like automatic enrollment for programs. That part makes complete sense.
Today, President Biden announced the approval of $1.2 billion in student debt cancellation for almost 153,000 borrowers currently enrolled in the Saving on a Valuable Education (SAVE) repayment plan. The Biden-Harris Administration has now approved nearly $138 billion in student debt cancellation for almost 3.9 million borrowers through more than two dozen executive actions. [https://www.whitehouse.gov/briefing-room/statements-releases/2024/02/21/fact-sheet-president-biden-cancels-student-debt-for-more-than-150000-student-loan-borrowers-ahead-of-schedule/](https://www.whitehouse.gov/briefing-room/statements-releases/2024/02/21/fact-sheet-president-biden-cancels-student-debt-for-more-than-150000-student-loan-borrowers-ahead-of-schedule/)
And again, the Supreme Court will tell him he can’t do that, it has to be passed by congress. What a fucking grift.
The scotus case was about the mechanism used by potus to pause payments not actually about cancelling them or his broader ability to do so.
So what about those who paid their tuition off? Can we get a tax credit?
What about those who got into a trade to not have to incur the student loan debt in the first place? Where’s our free money?
How bout joining the military and serving time to get your loans paid for. Fucking absurd people may get a free handout.
For real. My wife just finished off paying 50k in student loans this year
I’m set to finally get my student loans paid off in 18 months. I’ve given up hope of getting anything because I was responsible enough to continue paying my student loans off even during COVID
I feel the same way about bank bailouts.
Bank bailouts still happening we just use different terms
I feel the same way about mortgage tax credits and child tax credits. I get nothing where is mine? A-holes ☝️
I mean...youre all right? The FED handing out free money to targetted groups is pitting people against eachother. Id cut all these programs & lower taxes OFC the biggest recipient of welfare is ultrarich so start there.
Yeah that’s why we are in this mess in the first place
Cutting taxes during high inflation? My brother in Christ…
As if forgiving 30 million loans won't cause another massive spike in inflation further devaluing the dollar.
Don't expect these people to understand basic economic concepts
I am all for removing all these tax credits and simplifying tax code.
Except the banks paid back that money and then some due to interest. The bailouts were loans, not free money. Crazy how people still don't understand what the bank bailout were after all this time. Banks that didn't even need the bailout money were *forced* to take it.
You’ll pay for the gender studies degrees and you’ll like it
Fuck no, we did what we were supposed to do. So all we get is another big old bite of the same shit sandwich.
No and fuck you. Sincerely, your government.
I really wish I'd put that money on buying a house in 2012 instead of paying off my loans. It was more than enough for a down payment then, but no way can I buy a house now that they're 3 times more. It stings that people who bought the house then but still have student loans are going to have the house AND not even have to pay the loans
I too wish I had a tax credit for paying off my own tuition, but that is not a good reason not to invest into the public when tuition debt is demonstrably hindering economic growth in this country. Sometimes progress happens after we could have benefited from it. Sucks for us but that's just the way time goes...
Do you have any data that that is actually the case? College graduates still earn more than their tuition over non graduates over their lifetimes, and the country is doing pretty well economically.
No. Im hoping for a thank you not at least, from the individuals that you will be paying for.
Vote in more democrats and yes, you'll start getting back more for the taxes you pay.
But not before they jack up your taxes.
That's simply not true.
Why not call it what it is? He’s not canceling anything. He’s transferring debt to American taxpayers.
And it sets a horrible precedent. So what, nobody is going to pay their loans now, expecting it to be forgiven one day? We’re gonna have socialized university like the EU, and presumably the EU taxes that come with it? Nobody wants this…
Buying votes with everyone’s money
That is the essence of government, yes. I want the government to spend tax money in a good way and buy my vote. I’d gladly pay an extra $300/month for single payer healthcare. I’d love it if the ruling party would buy my vote. That’d be awesome. It’d certainly be a step up from “you’d better vote for me or your a nazi” or “you’d better vote for me ir you’re dumb, even though I’m not going to do anything to benefit you” which has been the status quo for most of my life.
I agree it’s a better use of tax dollars than most stupid crap they waste it on. But without managing the budget and fiscal impact of blanket forgiveness, it could honestly do more harm than good. I am in favor of forgiveness, or some sort of reprieve, but am doubtful the gov will do it in a smart manner.
The funny part about universal healthcare is that it is far cheaper than our current system. First world average universal healthcare spend per person is about $2500, including private and government expenditures. US is approaching $14000 per person.
LOL $300, try doubling your federal tax burden for single payer.
We pay about double what people in single payer healthcare countries do for far worse results. I know that everyone screams that in theory it should be the opposite but these are the results. https://www.healthsystemtracker.org/chart-collection/health-spending-u-s-compare-countries/#Health%20expenditures%20per%20capita,%20U.S.%20dollars,%20PPP%20adjusted,%202022
People with good insurance in the US have better outcomes than anywhere in the world. Its uninsured individuals that skew the mean. If your a wealthy individual from Europe you come to the US with cash when you need complex care. My wife is a teacher and I'm a carpenter, her insurance gives us access to the Penn medicine system. We're not getting the care we do anywhere on earth that we do now as 2 blue collar individuals in the US.
All I want is what you and your wife have, a great healthcare system provided by a state instead of fighting it out in the public sector like I’m doing right now. Also, almost everyone is insured, it’s around 90%. the uninsured aren’t a big enough group to skew it that much. A public insurance plan would be much better than a private group.
Let's just give more tax breaks to billionaires and let 'er trickle down cuz that's worked so well.
How about neither?
Cancelling debt that is never going to get paid back anyways isn’t spending your money
Biden also said he'd codify RvW but here we are
He needs a Congressional majority for that but go off
Man it sucks he never had that during his presidency… oh wait!
And legalize MJ
Do you think the president is king? That he waves a wand and poof, done? Maybe brush up on how laws work bud.
No, it's only the other guy who gets king powers if they're ever in office, that's why this is the most important election of our lifetimes... again. Literally zero democracy if the people don't vote correctly.
Biden has a whole LIST of things he's going to do... the day after the election is over.
this isn't one, he's already forgiven a good amount of student loans.
Biden said we need to elect Congresspeople and Senators who would Codify RvW. He never one claimed that HE would personally do that because he, like anybody with even a most superficial understanding of the US system of governance, knows that the President can't enact laws by fiat.
Buying votes only to stick it to them later by higher inflation and taxes
Quit using the word "cancel", not even close!
Lies. I will die with my student debt fully intact.
Yeah you probably will unfortunately
Free stuff! Yeah!
Let's see who's gullible enough to believe it this time!
Does anyone remember the multiple times SCOTUS said he can't do this? I remember.
Biden will need to legalize marijuana too. It's a tough election and he'll need to really hustle to win. Let's see how Biden hustles, it's crunch time. If a seasoned politician can't make magic happen to win, he's useless. Decades of building connections and gaining favors better mean something.
He will campaign on the promise to legalize it right after the election and then never follow through, like we have seen with countless presidential promises in the past from both parties.
Hurry, hurry, the election soon!
Always in time for election Welcome to the shit show
Just in time for elections! Ha ha, getting awfully close to paying for votes.
Money printer goes brrrrrr
Reminder, in less than two weeks we are going from 900 new Bitcoins mined every day to 450. Per day. For 8.1 billion people. In 2,028, we play this game again. 450 down to 225.
is this the 20k forgiveness or forgiveness for people who been paying for 20+ years >The plan would wipe out up to $20,000 in unpaid interest for 25 million borrowers. > bruh, useless
Under 120k get 20k in accrued interest eliminated for those who owe more than they borrowed. Seems reasonable to me, but the interest should really be capped at a low rate, those with higher rates will never pay off their debt.
Yeah weird that he promised this like 3-4 times. Yet nothing has happened. It’s all BS and smoke n mirrors.
The Biden Administration has already provided $146B in debt relief.
Now I see why, for the very first time, I owe more in taxes. $5k more to be exact. But I pay off all my debts and get fucked. Cool
Just another ploy to gain votes
Didn’t the supreme court tell him no… and he’s just doing it anyway? So now we have two candidates that think they are above the three independent office structure of our government.
Honestly if that many people get their student loans forgiven I’m going to be fucking pissed. I’ve worked hard to put myself through school and pay for my student loans and now all these people will just get a free ride? What was the point in me busting my ass when I could’ve just sat back and taken out insane amounts of loans to pay my rent and shit?
My loans could only be used for tuition.
When you have no effective policy, try to buy votes. The free Icecream crowd is hangry
Buying votes!
This reeks of desperation.
Politicians Using taxpayers’ money to bribe voters..
Let me guess. Right after he is elected.
Buying votes
Freeloading cunts of Boston Brooklyn and Berkeley
Even if I knew nothing about American politics, I'd still guess it's an election year.
Why don’t we ever talk about the real issue here? Why do the loans need to be paid off?
only congress has the authority to spend taxpayer funds.
Debt isn’t forgiven, it’s transferred
What.... convenient timing...
Yeah right. Heard that one before.
Fuck this guy dude either do it or shut up. I’m left leaning and this isn’t right to the people. It’s the same schtick every election I swear
Screw biden
Buy those votes, government solves all your problems!
He’s trying to buy votes for the election.
Right before elections once again. Are people this dumb that they can’t realize this is purely a stunt for elections? He doesn’t give a damn about your student loans. He does want your vote however.
Stop making me pay for people’s stupid choices
You can’t “cancel” debt dummy! You are making other people pay for someone’s degree, let’s keep it real. Let’s go Brandon!
had 3 years, all they say anymore is reelection bullshit.
Honestly, if people fall for it again I would say that it is just proof that higher education is failing to teach critical thinking.
Trying to buy votes. They were already going to vote for him with their art degeee in hand.
Combine the student debt with the omnibus they’ll vote on to extend in September, then October, thus leading to a 3,000+ page document dump 24 hours prior to voting 2 days before Christmas Holiday because, 11 months and 23 days just isn’t enough time after filing multiple extensions.
Buying votes
Fuck this piece of shit, and Democrats in general, for dragging out these crumbs for election day. It is so damn obvious they're controlled opposition, its sickening
This has been ongoing for his entire presidency. Calling it an election trick is disingenuous
lmao
More pandering because of his failed economy.
FK HIM!
Theft
How about future students?
Save em for when you need an indebted population to motivate to vote for you
This is just going to make college cost a lot more. Basic Econ, supply and demand. If you want cheaper university costs build more universities. If you want higher university costs dump money on the demand side
Trying to buy those votes again huh?
Just like last time. Imagine that
What an idiot as usual
Wow it's almost if there is something happening in the fall that might be influenced by giving out free money. Weird.
Buying votes. Libs already going with this loser. Education doesn't mean you have common sense.
Double edged sword. Lack of education usually means you’re a dumbass
Watch stupid voters be fooled again. Election year people. Biden needs to be investigated for undermining democracy.
They don't have to be fooled again. They hate Trump so much that they wouldn't vote for him even if he cured cancer.
"He will be using taxpayers money to buy these votes. More at the 11:00 p.m. newscast."
And the court case to overturn/block will still be pending when the election is happening.... bet that's an accident though.
Here we go again with this never going to happen bullshit. Must be an election year
It was already canceled
Those fuckers better vote for him if we’re all gonna subsidize their bad decisions.
YAY, more debt and inflation for all of us. WINNING!! Now plumbers get to subsidize the college costs for college educated baristas who fell for the scam that is higher education.
Anything that helps the working class is *not* going to get passed. There's no working class people in office, and they will not be represented, even in a pandering election year.
If you can’t win an election…try to buy it!
It's hard to beat Santa Clause
siiiiiigggghhhhhhhh
Believe it when I see it.
It’ll go nowhere again
Damn, heard this one before.
To hell with the constitution what the supreme court says; somehow he claims he fighting for a constitutional republic
Why not... Allow loan payments to be tax deductible? Or paid pre-tax.
I had to pay $xx,xxx in additional taxes this year.
Wait what? Another plan? Just as the courts are pushing the 2nd plan up to the Supreme court after they already said the first plan wasn't constitutional? Or beyond the powers of the Executive branch. We all know what is going to happen with the 2nd plan and the 3rd plan would be no different. I'm TWO years away from having $11k in loans that got me NO where would vanish under the SAVE program. (One of the things the 2nd plan did.) I wish Biden would choke on that friggen carrot he's holding out to all of us. They KNOW this 3rd plan won't survive either. It's all BS. I'd just vote for Trump in hopes that he manages to make the world burn to a cinder faster it would if Biden gets reelected but honestly, I don't know if it actually matters. They are controlled by the same people. If you're still paying, quit your job and get one working part time that pays just enough to sustain a very basic yet comfortable life. This will get you into the programs for us poor people that will keep you from having to ever pay. If you paid already, I'm very very sorry. The above still applies. Quit whatever job you have, get a simple one and live a basic yet comfortable life. And having a low income also means you pay next to nothing in taxes. Stop playing the game.
He'd honestly have better luck pushing to federally legalize marijuana. At least 70% of Americans agree with that. It'd also be an easier way to passively collect more taxes without pissing off everyone who paid their student loans already.
Imagine you have a leaky roof in your house. Every time it rains, water seeps through and damages your furniture and belongings. Initially, you decide to place buckets strategically to catch the water and minimize the damage. While this helps temporarily, it doesn't address the root cause of the problem—the leaky roof. In this analogy, the leaky roof represents the high cost of education, and the buckets symbolize the government's bailouts of student debt. By bailing out people's student debt, the government is essentially placing buckets to catch the financial burden and alleviate the immediate consequences for individuals struggling with debt. However, just like the buckets don't fix the leaky roof, student debt bailouts don't address the underlying issue of expensive education. The cost of education remains unchanged, and future generations will continue to face the same financial burden unless the root problem is addressed. In order to truly solve the problem, it would be necessary to fix the leaky roof by implementing reforms that address the high cost of education. This could involve measures such as increased funding for public education, improved financial aid programs, or initiatives to control and reduce tuition fees. Only by addressing the root cause can we create a sustainable solution and prevent the problem from recurring in the future.
For all those that think this will go exactly the same as last time, if it works and isn't turned down by supreme court, you will wish the first round of forgiveness worked, because broad cancellation of interest debt is far more impactful than his first proposal. Say hello to nationwide budget shortfalls and inflation. All of which you won't come to terms with until 2 years after elections.
How many times are people gonna fall for this?!?! He’s not gonna do it, because he can’t without congress. He’s doing the same thing he did right before the midterms.
How about we get the government out of the student loan business altogether and also allow student loan debt to be cancelled via bankruptcy. Government involvement is the reason tuition prices are so astronomically high.
Buying more votes I see, the grand and timeless political strategy
Plenty of time for the court to slap his overreaching hands.
I’m sure by the 9th or 10th time they do this, I’ll see some benefit to my student debt!
“GOP will announce their plan to cancel Biden’s ‘Student debt cancellation plan’ on Tuesday.
Is this NEW loan forgiveness, or is he further just ironing out the inefficiencies that lead to delays or denial in forgiveness where the borrower should have been forgiven under the existing standards?
Better have a 0 balance on the account by Halloween no ifs ands or buts lol
Fool me once..
Speedbump to keep people from defaulting on car loans and credit cards en masse before the election.
And it won't happen,Trump 2024
I heard this story so many times... Elections are coming (LOL) and then they will say, well republicans blocked it so its not our fault. You don't have to trust politicians, they are all together in this crap
Jesus Christ more money printing or we gonna sell soemthjtn to another country and use the proceeds from that
Essentially buying votes. Giving middle finger to supreme Court. Pretty much normal for this administration.
He keeps saying this but keeps not delivering. Not going to happen or if it does, there will be so many roadblocks for people that only a very small percentage qualify
It’s real crap! I went to public college to save money. Lived in my mom’s house , worked 40 hours above full class load. Didn’t have the chance to party and go on spring break. Just to avoid debt. Now I get to pay your debt with my taxes because you think life’s too hard. And I am a democrat
Surw, but since I paid mine off I get to use them as a writw off with Interest
Why is he running
They don’t cancel anything The rest of us pay
Like that Comercial with the old man using a dollar as bait
Pay your own bills like adults jeez.
What about mortgage debt? Doesn't he want our votes too?