Now to hold up their end of the bargain, all of the borrowers must vote for him.
Yes, continuing the tradition of Citizens United, and making a vote a raw monetary transaction.
Forget the union busting and the genocide everyone! This one certainly isn’t going to be struck down by the Supreme Court too!
Ya, repeal Citizens United and get the government representing the people, not the dollars.
Cancel culture strikes again.
No wonder young people are abandoning him
Hivemind is sensitive to unspecified sarcasm. Specifying that you’re being sarcastic murders the fucking joke.
I read this as a joke. But seeing you’ve been down voted pretty bad it seems most people are reading it literally. So either your hilarious or fucking weird.
I could be both, no? It was meant as a joke, but became a study in human nature.
It’s the second one. They’re also firmly on the side of Israel’s genocide against Palestine, so there’s that.
Biden administration: Gives people what they want
Corporate news: runs photo of angry people protesting
Cheers, corporate news, your repbuliQan masters are less angry with you for a few minutes.
A borrower can qualify for the forgiveness if they’re enrolled in the administration’s Saving on a Valuable Education (SAVE) repayment plan and “have been making at least 10 years of payments, and have originally taken out $12,000 or less for college,” a White House fact sheet said. It also said that “for every $1,000 borrowed above $12,000, a borrower can receive forgiveness after an additional year of payments.”
As an example, the fact sheet said, “a borrower enrolled in SAVE who took out $14,000 or less in federal loans to earn an associate’s degree in biotechnology would receive full debt relief starting this week if they have been in repayment for 12 years.”
Better than nothing.
There’s 10 of millions of Americans struggling with it, for a total over $1.77 trillion. $1.2 Billion only sounds like a lot till you realize it’s not even a rounding error in the total amount.
This 1.2 billion follows up on 130 billion his admin has already forgiven, the highest amount of student debt forgiven by any admin ever. Its also slowly moving toward the 400 billion his admin tried to forgive enmass with the 10k/20k plan that the supreme court shot down.
Turns out he still hasent stopped trying to get student debt forgiveness done, even with an extremely hostile court ignoring what the law says he can do.
the highest amount of student debt forgiven by any admin ever.
You act like this is a problem that’s been around a long time without getting drastically worse and that I flatiron isn’t a thing…
We get crumbs right before an election, and that’s better than nothing.
But don’t try to pretend it’s enough to make a difference.
Even if I take the 130 billion at face value, the total is over 1,770 billion.
This is the same thing that happened with Universal healthcare 80 years ago. And guess what?
It still hasn’t expanded to everyone yet.
This isn’t an action right before an elction. The 130 billion has been over the course of the admin. If not for the supreme court, total forgiveness would have been over 530 billion, or roughly 30% of that total. As is, its roughly 7%.
7% doesnt seem like much, but its about 7% more forgiven then any admin ever. No other admin comes even close to 1% of that total. Biden has forgiven at least 7x times as much student debt as Obama, and infinity more than any Republican.
Trump’s admin blocked forgiveness almost totally, only allows a few dozen people at all, and refusing to process other people that qualified. The previous president literally refused earned forgiveness under much more stringent rules, and now we have Biden going harder than any other president ever by leaps and bounds and youre mad about it.
This skips all the huge improvements in loan repayment too, including 0% interest if you make monthly payments, doubling the amount of income people need before payments go above $0/month from 15k to 32k, allowing delinquent borrows to true up scot free, on and on. They have done tons of positive things for student loans, but because it wasn’t everything, apprently it wasent enough for you.
You wanted $100 from previous admins and got $0. Biden tried to give you $30 before being blocked by political hacks, and has actually managed to give you $7 so far, but youre still pissed its not the whole $100. Okay then.
It also doesn’t cover certain student loans.
I have loans from the early 2000’s via Navient. Because the “loans” were structured differently in 2000 or whatever, none of the “plans” that will wipe away any of the rest of my debt apply to me. So, no matter what, I’m stuck paying the rest of it, because somehow “these loans are just different.”
It’s a load of fucking bollocks. I’m broke as shit and I don’t have money to be pissing away on these old loans that are 90% paid off. I would have technically had loan discharge from nearly all the things he’s done to discharge student loan debt, but SOMEHOW not a single one has applied to my loans, and everyone I have talked to tells me “Welp, too bad for you.”
I think the bigger part is how it reduces payments and covers any interest that would otherwise go unpaid. For example, I went back to college and just graduated with an associates degree last year with $8k in student loans. My income for my family size may well land me at $0 payments. If my income never increases noticably I would pay $0 for a decade then have no student loan debt. If my income increases I may have to start making payments but most importantly, my balance will not grow due to unpaid interest and will be forgiven after a decade. This is a significant improvement over the $80/mo I would be paying on my student loans before this legislation (but obviously several steps back from the full waiver I would have received as a Pell Grant recipient)
For borrowers with debt <= $12,000, who have been making payments for at least 10 yrs and are enrolled in SAVE plan, if you’re curious if you’re affected.
He’s been chipping away to make good on his campaign promise since doing it in one big go was shot down. The effect will be similar overall but each time it is going to be narrow shit like this. Overall it has been more than $130 billion forgiven.
Crazy that earning north of $67k/year qualifies you as “high income”.
Should also be noted that an enormous part of that $138B is
Fixing the Public Service Loan Forgiveness program so that borrowers who go into public service get the debt relief they’re entitled to under the law. Before President Biden took office, only 7,000 people ever received debt relief through PSLF. After fixing the program, the Biden-Harris Administration has now cancelled student loan debt for nearly 800,000 public service workers.
Cancelling student loan debt for more than 930,000 borrowers who have been in repayment for over 20 years but never got the relief they earned because of administrative failures with Income-Driven Repayment Plans.
Which was debt relief already provided for under prior administrations that the Trump admin simply ratfvcked during his term in office. This isn’t new money and it isn’t even “forgiveness” in a broad sense. These are loans that have already been paid back to their face value and are persisting entirely due to the high interest rates preventing lenders from hitting the principle.
