1y ago

Conservative groups sue to block Biden plan canceling $39 billion in student loans

apnews.com Conservative groups sue to block Biden plan canceling $39 billion in student loans

Two conservative groups are asking a federal court to block the Biden administration’s plan to cancel $39 billion in student loans for more than 800,000 borrowers.

politics @lemmy.world

apnews.com /article/student-loans-cancellation-debt-forgiveness-73327bbcb47dba6aec0c686f44bc2ab4

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I know one generation in particular who is going to be pissed about this…
- The one who was able to afford a year of college after working a single part-time job over the summer?
  
  My genx Brother in Law loves to bring up how he had to pay for college working a pressure washing and catering job. So that's two part-time jobs. 🙄 Of course the idea of student loan forgiveness is outrageous to him.
  
  I don't understand why they keep doing research on curing cancer. it wouldn't be fair to my dad who died a couple years back. just not fair at all.
  
  I don't understand why they bailed out the banks in '08, it wasn't fair to citizens who were in debt because their houses were underwater, just not fair at all.
  
  tbh 15 years later I wish they let the banks fail. It would have been a pretty terrible 10 years, but I think by now we'd have a functioning world better suited for today's generations/problems.
  
  Didn't Iceland actually jail the bankers?
  
  Don't buy into the propaganda. There was never going to be a big crash. They would have taken a small hit and FDIC would have insured every deposit. The big banks had already unloaded the mortgage backed securities into pension funds.
  But but what about Lehman Brothers? Yeah what about them? The CEO alone took a +600 million dollar bonus they year it was going "bankrupt". They can't stay open but gave him over half a billion? I don't think so. Bankrupt for normal people means rice for dinner for years, for the big banks it means they just don't feel like "working" anymore.
  What should have happened is jailing the lot of them, a foreclosure freeze across the US for a year, replenishment of Pensions from AIG and Goldman and Lehman executive salaries, and finally a requirement that everyone that is to be evicted be given a court appointed attorney who has the same case load as the bank's attorney.
  
  @afraidofzombies @foggy
  I wanna know who in the SEC allowed mortgage-backed securities to be sold in the first place.
  
  I am also Gen X with 2 teenagers. My college tuition was roughly $3-5k per year. For my kids, college tuition will be $9k/year. I have no problem with student loan forgiveness. College tuition has gotten out of control and student loans are holding younger generations back.
  
  I am also genX and my tuition at a shit-tier school out west was 15k/year in 2003. After losing everything in a messy divorce my 45k owed became 70k over night (I lost all my bursaries and scholarships when I left school 2 weeks early).
  
  9k is cheap. Schools were I'm at are about 15k a year.
- Student loans do not effect the wealthy. They simply do not have student loans. For them it is a waste of tax money.
  And boomers did not need student loans because college was affordable. They believe you can still get s part time job and pay for school. So to them, quit being so lazy.
  Then we have the rich boomers that pay politicians to rage for them.
  
  Tax money that they, by and large, don't pay anyway
- 🙋‍♂️

51 comments