Student Loan Forgiveness

[grinch]

Ya but once a person improves their income potentials in America, they don’t pay taxes, remember? Gotta keep as many folk under-educated as possible but living just above the poverty line so that those tax coffers remain full! A side benefit, they’re easier to manipulate to vote against their interests in the greatest democracy on earth!

I was thinking that as i typed. I guess a fair portion of them won't be in tgat tax bracket for atleast a few yrs/tax cycles. Ill bet it will be a more effective "trickle down economics" than the gqp version

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[jackstraw]

https://youtu.be/ieRYeKtJzmI

[MontuckyFried]

Also, didn't Nancy make a big deal about the President not having the authority or power to do such a thing?

Oh yeah! Here it is. At about the 2 minute mark:
https://youtu.be/jodelTx4H-c

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[Danno]

Yo. If your student loans aren't worth it for YOU to pay off, then maybe they aren't worth it for me to help pay off.

It does seem a kick in the nuts to the taxpayers who never went to college. Welfare for the successful? Appears to be at first glance.

It's amazing how you continually carry water for the oligarchs who don't give a fuck about you.

[BobMc]

It's amazing how you continually carry water for the oligarchs who don't give a fuck about you.

I like how he claims to not watch Fox news yet that whole Nancy said he couldn’t do it schtick is straight from sean hannity’s show last night. (I watch a bit of that treasonous dickheads show every night.)

I didn’t go to college, have friends that did and have loans, my nuts are feeling pretty good.

[jackstraw]

Oh yeah! Here it is. At about the 2 minute mark:
https://youtu.be/jodelTx4H-c

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You're a fucking trumptard and every other trumptard can fuck the fuck off. Why? King of chapter 11's hasn't paid millions he's signed on the line for. Amazing how you dimwitted fuckstains don't quite understand how that piece of shit works. Don the con.

[Ted Striker]

Yet another federal check offered in the past 2 years me and my wife will not see. I'm super upset I'm wiping my tears with $100 bills. I wish I made different choices so I was poor and got assistance so wealthy people could tell me I don't deserve it. The potential for socialism terrifies me because the federal government should work just like a small business and they don't get hand outs...well except for those GOP PPP loans that were designed to be forgiven. Dammit who should I be mad at now! Help me blame someone!

Exactly.

Speaking of PPP https://twitter.com/whitehouse/statu...lYIzPbexu8pxaQ

[yeahman]

Exactly.

Speaking of PPP https://twitter.com/whitehouse/statu...lYIzPbexu8pxaQ

One after another. That is fricking awesome.

[Doremite]

Because it's an administratively easy way to target historically poor individuals and families. You have to be making <$65k household income to be eligible currently (way less 10-20 years ago.)

Have some Pell grant individuals ended up making bank? Sure. But those people are far far less likely to have intergenerational wealth and opportunity than those who didn't get Pells.

Could you target low-wealth individuals another way? Sure. But I bet the administration would be a much larger PITA and people hate administrative fuckery.

Double the help to Pell recipients was the kindest angle to this. Pell value has deteriorated over time and continues to. If throwing benefits might as well target need.

[J. Barron DeJong]

Oh yeah! Here it is. At about the 2 minute mark:
https://youtu.be/jodelTx4H-c

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Congress granted new authority to the Department of Education, which is what allowed Biden to pursue this debt forgiveness.

Edit: I may have that wrong. I thought I read that earlier, but looking again it seems like they are now interpreting the HEROES act to say it gives them this authority.

[highangle]

[waveshello]

This honestly would have been a better way to roll it out, lol.

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[SB]

Yup, how can we make Bidenflation worse.

[SumJongGuy]

Amy Covid Barret, Drunk Kavenaough, Treason Thomas, Alito, Goursesh will walk it all back. Don't go and spend that money yet..

[riser4]

Brett the Boofer!

[Harry]

Brett the Boofer!

He still has not explained how he went from being millions in debt to having all his debt magically disappear 90 days before being nominated for SCOTUS. Which billionaire paid him off ? And bets on how Kavanough will rule when that same billionaire has business before the court ?


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[::: :::]

He still has not explained how he went from being millions in debt to having all his debt magically disappear 90 days before being nominated for SCOTUS. Which billionaire paid him off ? And bets on how Kavanough will rule when that same billionaire has business before the court ?

Like Roe?

[Peruvian]

I’m in the all boats rise with the tide camp but have a sneaking suspicion that over time college tuition will increase (just as it has due to previously subsidized loans) enough to essentially wipe out much of this benefit.

[Supermoon]

I’m in the all boats rise with the tide camp but have a sneaking suspicion that over time college tuition will increase (just as it has due to previously subsidized loans) enough to essentially wipe out much of this benefit.

If it only applies to loans taken out prior to Aug 1, will it affect future prices? Maybe the precedent of it?

My feeling is that potentially the biggest pet of this EO is the cap on payments based on income (and the interest lock), and the wiping out of loans after 10 years. Wouldn’t those put pressure to keep costs down?

I don’t know enough about this stuff to game it all out.

The best long/medium-term solution is probably legislation that has some sort of cost ceiling for public unis along with like a 10k (or choose a number) subsidy for anyone attending those unis.

[pogs4ever]

i dunno why peeps are mad about this. seems good to me.

[californiagrown]

i dunno why peeps are mad about this. seems good to me.

Mostly jealousy. I suffered so i want others to suffer similarly.

Or, they didnt receive the direct benefit of a college education, so they dont feel like they should help pay for "your" benefit. Ignoring the fact that society benefits from more college educated folks. Not coincidentally, many with this attitude also think that the woke liberal curriculum of todays college is brainwashing young people and ruining society, so its a double wammy of them being forced to subsidize the downfall of society.

[waveshello]

Amy Covid Barret, Drunk Kavenaough, Treason Thomas, Alito, Goursesh will walk it all back. Don't go and spend that money yet..

I'm certain that will be the case. It's kind of a win-win for biden tho. He gets to say he tried, then can direct the ire of the (college educated) public back at the supreme court when they shoot it down. And the legislators get to avoid a no vote--there are several dems that would probably "need" to vote no on this one.

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[simple]

College aged angry protesters get labeled by right wing pundits as Antifa

The culture war continues to twist reality for the wealthy to prosper

[snapt]

Anyone else go to college in the pre 08 crash era where boomer led companies told kids they needed a college degree to get a job? Even if not in the field, just to show they could commit to something for 4 years and meet deadlines etc. And now they're shitting on kids 'useless' areas of study. And then they wrecked the economy and all those new grads interviewed for entry level jobs against folks with MBA's and 20 years experience and didn't stand a chance.

That was my first college experience. I went to community college for 1.5 years and it cost me a few hundred bucks a semester. Finished out at a state college in CA that cost a few grand a year and was debt free with a BS and with zero meaningful job prospects.

10 years later I went to medic school to advance my career at a state college in ID, to get an AS, and it cost me 20k in state tuition. Thankfully the loans were federal with next to nothing in interest.

10K would would be meaningful to me. I've paid off a degree and financed and overpriced one. People who are shitting all over this are painting the typical college debt experience with a real broad stroke.

[Core Shot]

They should just give everyone a Pepsi

That’s all they want. Or need.