Biden to announce student loan debt cancellation

[InVentive44]

https://mobile.twitter.com/Breaking9...iots.win%2Fnew

[Berts]

Too late to apply for student loans? I only need $10K

I'm curious the total bill on this. Sounds like printing another $200B-$250B.

Keep spending, its the only way to lower inflation but I guess you have to get your votes somehow. Might as well literally buy them.

[fitnessislife]

[ParsleyTea]

Imagine that is going to make inflation worse for most Americans.

[InVentive44]

Imagine that is going to make inflation worse for most Americans.

You would be correct

[Ephedra]

Desperate attempt at keeping seats in 2022. They know Republicans won't go along with this nonsense and the media will make it a big deal.

It's all a show.

[heiltrump2024]

didn't he say he was going to do this as part of his presidential campaign? it's been two years with no action lmao

and $10k, LOL these retards that took out loans for school didn't go to their local community college, no they went to their state colleges, many out of state, and racked up $100k+ in loans

by now their loans have had tons of interest stacked on so at best they're going to be able to knock off some interest payments

[eehee]

canceling debt is akin to default, which is deflationary. i don't think this will increase inflation, unless it precipitates a flight out of the dollar by foreign countries, which would reduce the dollar's purchasing power.

[veggie530]

that will cancel wife's debt entirely and over half mine.

[SaltyDog920]

My wife got her BAs degree in social work. Was making 40k fresh out of college with a degree. Found the work to be soul crushing. Went back for nursing. Started at a measly $27 - $32 an hour. Worked her way up in the field. Now she'll make more than the max allowed for the cancellation.

I'm not complaining about not getting debt cancelled; I'm against it. I am complaining that our government ****s on the productive members of society and rewards the failures.

And again, this is all for show. It won't pass and I don't want it to pass.

[Antoine99]

Biden admin lied about not knowing about the Trump raid, this is just desperation to keep what little, tiny support he has left.

[ghostfacedup]

Biden admin lied about not knowing about the Trump raid, this is just desperation to keep what little, tiny support he has left.

lmao what? Dems are climbing in the polls because no matter how bad the Dems' policies are, the people are STUPID and they will lap up whatever the media tells them.

This is another win for Biden and a loss for America, and the people will love it. Biden is doing EXACTLY what he's supposed to do.

[ItsJamesthefin]

As usual I'm gonna miss out since my loans are through Discover Student loans. Weak

[TrueTruth]

Precisely before the midterms.

Now you know why he didn't do it right away - it's a coordinated political bribery aimed for midterms. Democrats use taxpayer money to bribe their low IQ welfare mooching base to get votes. Technically it should be f**king illegal, but here we are.

I wonder if all the people who did the right thing and paid off their college loans will get their money back. Otherwise, you are punishing law abiding and productive citizens while rewarding the scumbags, which will only incentivize more people to become scumbags if they can get away with it. This country is going to collapse if this sort of behavior continues.

Also, I don't want to hear another damn thing about the prez not being responsible for inflation - here we are printing money to subsidize freeloaders, this is what creates inflation in the first place.

[Stizzel]

We need the ecto/sillie tag team itt to explain how this is going to annihilate inflation

[NitrogenWidget]

Imagine that is going to make inflation worse for most Americans.

go big or go home.
if you are going to tank the country, fuk'n TANK it.

[TrueTruth]

We need the ecto/sillie tag team itt to explain how this is going to annihilate inflation

If that's the case then I'll be glad to help - let me take out 10K loan tomorrow and they can cancel it after I spend it on "college supplies" (PS5, OLED TV, Macbook, etc.)

[Johnez]

Make that $1.001 million more.

[SmillironS]

The principle of all of this is disgusting. If you sign your name to something you stay good to your word.

[Austanian]

Nothing like punishing those that made good decisions by rescuing those that didn't.

I have been sitting on my last 3 grand just because I was worried this would happen.

The easiest way to fix the student loan bubble is to cap the total amount available to a person to the average 1st year earnings of a person with said degree. It would stop these schools from loading up their degrees in meaningless "university foundations" courses.

[Johnez]

Nothing like punishing those that made good decisions by rescuing those that didn't.

I have been sitting on my last 3 grand just because I was worried this would happen.

The easiest way to fix the student loan bubble is to cap the total amount available to a person to the average 1st year earnings of a person with said degree. It would stop these schools from loading up their degrees in meaningless "university foundations" courses.

Who's really being bailed out here? First a ban on dischargimg SLs in bankruptcy. Now to solve the problem that created govt is going to "give" borrowers $10k. LMAO. I swear it's like an evil plot to cause more problems so Democrats can make more promises next election.

-Ban SL discharge
-Tuition explodes
-Students forced to take on more debt
-"Forgive" $10k
-tuition continues to rise
-forgiveness 2.0
.
.
.
Profit for all involved.
....excluding taxpayers, those who were financially responsible, and students on the hook for inflated tuition cost. But thanks Democrats!

[dabbmw2002]

lmao. You make 100K in a rural area or in a red state, it is the same as making 300K in NYC. Without weight for cost of living and other factors, for some they dont need the help and for others it will do little to alleviate their problems. Fuking clown world, get your student loan debt cancelled but pay and extra 10% on goods from inflation.

[dmike100]

Are they fixing the problem so that we aren't going to have to keep repeating this crap? Doubt it. Obvious attempt to buy votes for midterms.

[LeftistGent]

Fuk yes boyos. I told people here to keep at least $10k student loans especially while they were paused. It's an extremely popular policy and a no brainer before the midterms. Like you actually thought Biden wouldn't push anything through Congress but he's been on a major winning streak LOL. Misc would rather bail out corporate elites though.

My only critique is that they aren't going after the root cause, but hopefully that follows soon.

[frankdtank20]

I'm gonna need $10K of credit card debt erased, Joe. Pinky swear I'll vote Dem in November 2023.

[nctarheels21]

lmao. You make 100K in a rural area or in a red state, it is the same as making 300K in NYC. Without weight for cost of living and other factors, for some they dont need the help and for others it will do little to alleviate their problems. .

This is what I don't get about widespread income averages for things like this.

In my state, making $125k a year would allow me to pay off my student debt in a year, and still have money to blow. Making that same $125k and living in NYC, I would barely be able to make ends meet.

[hackerwacker]

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More like spoiled elites go to top tier schools, get 200k in debt, graduate into cushy jobs, get big mad over how "oppressed" they are having to pay off loans, government uses tax payer money to pay off their debt. Working class yet again gets the shaft up the ass. I feel like such a fukin retard working my way through college

[Fishman15]

Just when I think the left is all out of retarded failing policies, they keep pulling another one out of their ass. It's really quite impressive if your plan is to ruin the country...

[PepperedAngus]

Imagine that is going to make inflation worse for most Americans.

especially for the ones actually paying taxes by working jobs they never went to college for.

[bluebeltATT]

Expect more poor decision making after this passes

Now ppl are going to know they won't be on the hook


Why be responsible?