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Thread: Biden administration cancels $1.2B in student loans with new repayment plan

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    Default Biden administration cancels $1.2B in student loans with new repayment plan

    Starting Wednesday, President Biden will email 153,000 student loan borrowers enrolled in his signature repayment plan to let them know their debts ó totaling $1.2 billion ó have been forgiven.

    The notice makes good on the administrationís promise to accelerate forgiveness for borrowers with low original balances who are enrolled in the Saving on a Valuable Education (Save) plan. Rather than wait 20 to 25 years for relief through other income-driven repayment plans, enrollees in the Save plan who borrowed less than $12,000 can have their debt wiped clean after 10 years of payments.

    https://www.washingtonpost.com/educa...n-forgiveness/

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    Quote Originally Posted by BidenPresident View Post
    Starting Wednesday, President Biden will email 153,000 student loan borrowers enrolled in his signature repayment plan to let them know their debts — totaling $1.2 billion — have been forgiven.

    The notice makes good on the administration’s promise to accelerate forgiveness for buy votes from borrowers with low original balances who are enrolled in the Saving on a Valuable Education (Save) plan. Rather than wait 20 to 25 years for relief through other income-driven repayment plans, enrollees in the Save plan who borrowed less than $12,000 can have their debt wiped clean after 10 years of payments.

    https://www.washingtonpost.com/educa...n-forgiveness/
    Let me correct that for you. The part in red is what the administration is really doing here.

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    Quote Originally Posted by T. A. Gardner View Post
    Let me correct that for you. The part in red is what the administration is really doing here.
    To cretins like you, helping others is always foolish.

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    biden buying votes. if a republican did this, you'd be screaming fascism
    A sad commentary on we, as a people, and our viewpoint of our freedom can be summed up like this. We have liberals and conservatives, Democrats and Republicans, yet those very people look at Constitutionalists as radical and extreme.................so those liberals and conservatives, Democrats and Republicans must believe that the constitution is radical and extreme.

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    Quote Originally Posted by SmarterthanYou View Post
    biden buying votes. if a republican did this, you'd be screaming fascism
    I doubt you finished high school.

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    Doing things I like so that I'll feel good about voting for someone? What a novel idea.

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    Quote Originally Posted by Mr.Badguy View Post
    Doing things I like so that I'll feel good about voting for someone? What a novel idea.
    huh?

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    It was regarding the "buying votes" argument. I see it as an investment in America to lift as many people as possible out of stifling debt and let them consume things they might not have afforded otherwise. It's just as silly as argument that things like well maintained roads or clean water would equal "buying votes".

    Politicians should be doing things that I like to earn my vote. That's how a representative democracy works.

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    Quote Originally Posted by Mr.Badguy View Post
    It was regarding the "buying votes" argument. I see it as an investment in America to lift as many people as possible out of stifling debt and let them consume things they might not have afforded otherwise. It's just as silly as argument that things like well maintained roads or clean water would equal "buying votes".

    Politicians should be doing things that I like to earn my vote. That's how a representative democracy works.
    Good, thanks for clarifying.

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    Quote Originally Posted by BidenPresident View Post
    To cretins like you, helping others is always foolish.
    Forgiving a loan for no particular reason is cretinous. What Biden is doing is forgiving loans equivalent to forgiving new car loans. What's the difference? Each person chose to take that loan out to go to school. They didn't have to, it was their choice.
    They then benefited from the education they received, knowing they'd have to pay the loan back. Just because that creates a hardship because they were stupid enough to not think through the consequences of their actions is no reason to put the loss on other taxpayers.

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    Quote Originally Posted by T. A. Gardner View Post
    Forgiving a loan for no particular reason is cretinous. What Biden is doing is forgiving loans equivalent to forgiving new car loans. What's the difference? Each person chose to take that loan out to go to school. They didn't have to, it was their choice.
    They then benefited from the education they received, knowing they'd have to pay the loan back. Just because that creates a hardship because they were stupid enough to not think through the consequences of their actions is no reason to put the loss on other taxpayers.
    The government used to give grants to many students going to college. That dried up.

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    Quote Originally Posted by Mr.Badguy View Post
    It was regarding the "buying votes" argument. I see it as an investment in America to lift as many people as possible out of stifling debt and let them consume things they might not have afforded otherwise. It's just as silly as argument that things like well maintained roads or clean water would equal "buying votes".

    Politicians should be doing things that I like to earn my vote. That's how a representative democracy works.
    But it doesn't do that. The people involved in this program have finished school and are now employed (hopefully) doing something. They should have to pay back their loans just like everybody else does for everything else they take a loan out for. It is pure vote buying to forgive student loans when there are far more Americans who never took one out and are now being forced to cover the loss that Biden created by canceling those loans.

    Politicians should not be able to use taxpayer money to bribe people to vote for them.

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    Quote Originally Posted by BidenPresident View Post
    The government used to give grants to many students going to college. That dried up.
    So?

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    Quote Originally Posted by T. A. Gardner View Post
    But it doesn't do that. The people involved in this program have finished school and are now employed (hopefully) doing something. They should have to pay back their loans just like everybody else does for everything else they take a loan out for. It is pure vote buying to forgive student loans when there are far more Americans who never took one out and are now being forced to cover the loss that Biden created by canceling those loans.

    Politicians should not be able to use taxpayer money to bribe people to vote for them.
    Only absolutely selfish people like Trump can you admire.

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    Quote Originally Posted by T. A. Gardner View Post
    So?
    So, now the government realizes what a burden it is. Previous generations were helped out.

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