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

[Into the Night]

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.

A democracy has no representatives.
The United States was never a democracy.

 

[Into the Night]

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.

It's simpler than that.

Buying a few votes while screwing everybody else to do it won't work.

Free education...worth every penny.

 

[Into the Night]

The government used to give grants to many students going to college. That dried up.

The government STILL gives grants, Sock.

Free education...worth every penny.

 

[Into the Night]

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.

In bribing these few, Biden shafted the rest.

 

[Into the Night]

So, now the government realizes what a burden it is. Previous generations were helped out.

Free education is not 'helping out'.

 

[Into the Night]

duhhh you're from china duhhhhhhhhhh

Neither the Constitution nor the Supreme Court is in China, Sock.

 

[T. A. Gardner]

In bribing these few, Biden shafted the rest.

Kicked those that paid their loans off in full right in the crotch--repeatedly...

 

[Into the Night]

False. College costs skyrocketed beyond rate of inflation.

Nope. College is now free. Worth every penny too.

 

[Into the Night]

Analogy is false.

Fallacy fallacy. The analogy is valid.

 

[Into the Night]

Dear fucking foreign disinformation bot hole


Doing what the American people want done is not buying votes

It’s called representing the people and winning their Democratically cast votes



Buying their votes is spending money to misinform the people or cheating in elections


You just instinctually hate Democracy


Fuck you very much

Ah...the usual chanting...

No, there is no democracy. The United States was never a democracy.
It is DEMOCRATS that caused the 2020 and 2022 election faults through election fraud. It is DEMOCRATS trying to throw the 2024 election.

Communism is NOT what people want.

 

[Into the Night]

You certainly are not college material.

Why? Because he graduated from one?

 

[Into the Night]

Most Americans don't want college loans forgiven.

Less than half of Americans support student loan forgiveness: poll
https://finance.yahoo.com/news/less...-student-loan-forgiveness-poll-183840781.html

Voters split on student loan forgiveness, new poll shows
NBC News poll finds higher support for forgiveness among those with student loans.
https://www.nbcnews.com/meet-the-pr...ent-loan-forgiveness-new-poll-shows-rcna48490

Most Americans don't like getting ripped off in this way.

 

[anonymoose]

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.

Do you think this is fair to those that scrimped, were fiscally responsible and suffered through paying their loans off in full?

 

[LV426]

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 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/education/2024/02/21/biden-save-student-loan-forgiveness/

Good policy.

This is going to help the economy by giving those borrowers more discretionary income to spend in the consumer market.

 

[LV426]

Do you think this is fair to those that scrimped, were fiscally responsible and suffered through paying their loans off in full?

I don't know, maybe we should ask all the "business owners" who had their PPP loans forgiven.

If student loan borrowers must repay those loans, then every single "business owner" who got a PPP loan must repay them too.

It's only fair.

 

[LV426]

Most Americans don't like getting ripped off in this way.

The rip-off was the Trump tax cut that plunged manufacturing into a recession for all of 2019 before the rest of the economy followed in February 2020 before any COVID lockdowns.

 

[Jarod]

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 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/education/2024/02/21/biden-save-student-loan-forgiveness/

1.2 Billion that wont go to banks, but be distributed into our economy.

 

[anonymoose]

I don't know, maybe we should ask all the "business owners" who had their PPP loans forgiven.

If student loan borrowers must repay those loans, then every single "business owner" who got a PPP loan must repay them too.

It's only fair.

Agreed.

 

[Into the Night]

Good policy.

This is going to help the economy by giving those borrowers more discretionary income to spend in the consumer market.

Communism does not help the economy, Sock. It is based on theft.

 

[Into the Night]

I don't know, maybe we should ask all the "business owners" who had their PPP loans forgiven.

If student loan borrowers must repay those loans, then every single "business owner" who got a PPP loan must repay them too.

It's only fair.

It's only fair.