Biden cancels student loans for another 150,000 borrowers
Biden cancels student loans for another 150,000 borrowers
The latest tranche of debt forgiveness brings the number of people benefiting from student loan cancellations to more than 5 million, the president said.
Summary
President Biden announced student loan forgiveness for 150,000 additional borrowers, raising the total to over 5 million under his administration.
The latest beneficiaries include borrowers defrauded by schools, individuals with disabilities, and public service workers.
Biden emphasized his focus on expanding pre-existing forgiveness programs after his broad plan was struck down by the Supreme Court in 2023.
Conservatives and Trump argue the efforts overstep executive authority and unfairly shift costs.
Biden called the initiative a fulfillment of his promise to reduce financial barriers to education.
I can't wait for Trump to get in and really make America better again!
Most likely donvict will make Elon a trillionaire and the dipshits are here for it. Oh and make a few other broligarchs that are already billionaires (which should not even be a thing in this country) even more billions.
What we should really do is make America great again like the 1950s - very narrowly. Meaning, the top tax rate is 92% for the likes of donvict and his billionaire boyfriends.
Out of 43 million. Drop in the bucket.
Hope the people who get it treasure it.
I wonder when we'll get a president who campaigns on doubling everyone's lottery odds?
"But but but, Biden's not doing anything!"
He should force price ceiling. Otherwise tiss a useless charity
It's insane how conditioned people are on price fixing.
The US has used it many times to make necessary adjustments to society throughout our country's history.
Rent caps were one of the most influential and positive policies of the New Deal.
It's not an inherently bad policy.
If there is something inherently unethical like overcharging for a need (yes in our modern world being educated is a need to actually participate in society), then it is acceptable for the government to step in and draw the line.
Student debt should be totally canceled, college should be free, and the government should take a fraction of what was being extorted out of students by predatory loan companies and pay it directly to the schools. Let the unethical loan sharks fucking eat the loss for trying to run a racket. They shouldn't have more power than the god damn government.
Same with housing, it's a public secret that massive housing corps colluse using price fixing algorithms, it's correct in this situation for the government to step in and force rent caps. Let the unethical slumlords eat the loss. They shouldn't have more power than the god damn government.
I mean, he's not. The vast majority of the loans being forgiven are ones that should have been forgiven anyways. Like ones where the people went into the public sector and paid their loans for 20+ years. These loans were supposed to be discharged. That was the arrangement these people signed up for. Bureaucracy essentially held them hostage.
Sorry, but I don't give credit for finally agreeing to a broken promise and then treating it like it was done out of the kindness of their hearts. They should have been discharged years ago.
Op posted:
The Biden administration has focused on revising and expanding federal student loan forgiveness programs that existed before Biden took office. That approach allowed the administration to expand loan forgiveness options despite its failure to implement new federal forgiveness programs after the Supreme Court struck-down Biden’s initial plan in 2023.
You mean that?
this guy is a saint the way he keeps going despite the crap he gets for not doing more even knowing each bit of more is not enough for many folks.
There are way too many people who fault you and your effort if it's not perfect in their eyes.
Those people are to blame for our current situation too.
yeah I basically feel this way. I also think there is a lot who can't possibly see their own innactions or actions as being bad and blame everyone else.
You're telling me that before this, borrowers defrauded by schools were just told "lol, sucks to suck?"
Meanwhile, as the qons fight tooth and nail against this, they picture themselves like Braveheart....
https://itunes.apple.com/app/apple-store/id917932200?pt=39040802&ct=Media1GIFV2&mt=8
ITT: liberal apologists getting BIG MAD that the rest of us aren't buying their spin trying to give credit to Biden for merely enforcing the existing law.
Yeah, I didn't see anybody else enforcing that law or making sure these people were taken care of. Biden administration stepped in and made them follow the law, which would never have happened otherwise. This is the best he could do after his main plan was shot down by Republicans and the Supreme Court.
The President isn't all-powerful in America and only has so much reach--and that's a good thing when somebody like Trump comes in and wants to be the next dictator.
The President isn’t all-powerful in America and only has so much reach
Except the SCOTUS ruled otherwise, and Biden can somehow send endless arms to Israel, but not Ukraine.
Can somehow violate federal laws to build the wall on Mexico "because congress paid for it" but can't ensure right to abortion.
At some point, you gotta ask "Why are is the US government able to do horrid things without question, but helping people always has an excuse that prohibits it from being done?"
Liberals would rather treat complying with helpful laws set up a decade ago is a win to secure the vote (if we get to vote ever again) when he failed to cancel debts that he literally set up as a Senator.
The 150,000 new beneficiaries announced Monday include more than 80,000 borrowers who were cheated or defrauded by their schools, over 60,000 borrowers with total and permanent disabilities, and more than 6,000 public service workers, Biden said in the release.
So it was all thru existing programs and Biden did nothing to make it happen?
Well, when he actually tried the courts struck it down :/
A half hearted effort doesn't mean we should applaud him for things that would have happened regardless of who is President.
When these numbers keep going, are you going to talk about how great trump is? Or will you magically agree with me because the president changed?
Cuz buddy, it won't take long until these exact numbers continue under trump.
I'm getting really tired of neoliberals cheering for basic mediocrity and acting like it's murder to criticize Biden. They're just an extension of the Democratic Party that is entirely unwilling to address the fact that simply not doing bad things doesn't make you good.
These are not accomplishments. This is not the promise that got me to vote for Biden despite not believing he would be a good president, nor that his primary run was above board. I want a president that actually works to better the lives of the people.
And while we're at it, I'd like a fair primary without DNC bullshit.
I’m getting really tired of neoliberals cheering for basic mediocrity and acting like it’s murder to criticize Biden
You remember a couple years ago when a WB board member said the reason they bought CNN was to make it more like Faux News to change people's minds?
These are those people that kept watching CNN and that is why they're acting like trump supporters.
The wealthy want voters with zero standards except the left by a name. And they've bought almost every media outlet to get those types of voters in both parties.