since becoming president in January. The $2 billion of student loan cancellation is part of Biden’s ongoing plan to focus on targeted student loan cancellation. Unlike wide-scale student loan cancellation — which could cancel student loans for most or all student loan borrowers — targeted student loan cancellation focuses on student loan forgiveness for specific constituencies of student loan borrowers.
Biden has focused student loan forgiveness primarily on three main groups: public servants, student loan borrowers with a total and permanent disability, and student loan borrowers who were misled by their college. Wide-scale student loan cancellation is still a possibility, as the Biden administration evaluates its options. That said, don’t expect any wide-scale student loan cancellation before student loan relief expires January 31, 2022.
Chump change.
0.1%
Y’all ain’t slick, that’s just 2 people.
So like only 12 ppl smh 🤦🏾♂️ do better Joey
Almost everyone with federal student loans is on a negatively amortizing income based payment plan where their payments don’t even cover the interest. Negative amortization is considered a predatory lending tactic by the Federal Government
And total student debt will be that much higher by March.
Yep. Every election matters. Stop voting for Republicans who love tax cuts for Elon Musk and Zuckerberg over using OUR TAXES to improve the lives of all of us. President POTUS & VP VP are putting people first and getting the work done.
What about the individuals that work part-time in public service jobs. Some people do not qualify for the loan forgiveness they only work 24 hrs and not 32 hrs a week required. POTUS just cancel all students debt!
Ok is some of it mine?
That’s like a 1/2000 of the debt
Which means precisely dick to the majority of people who have debt
I love how it’s the boomers or the mfers with no profile pics saying that “well that’s unfair what about everyone else that had to sell their souls to pay off their debt?” and I’m cackling on the floor right now because this is absolutely deranged
epic. now cancel some more
Literally all they’re doing is pissing everyone off
if you believe that, there’s also a $2,000 check still on its way.
That's a drop in the bucket.
Cancel mine please. Interest is more than I burrowed.
There's almost 2 trillion in student debt lmfao
30,000 out of 44.7 million students will be covered by this program. Still leaves 44.7M hanging on a financial cliff.
Oh so nothing? Not even a scratch off that interest?
I need details
Next: rent type of control on tuition?
Cancel all student debt POTUS :)
Will people get reimbursed who already paid them off?
There is nothing free in life. The 2 billion being paid comes from someone else. Just think about that. If you paid your student loan off, you get to pay more.
That’s a total of .00116 of the estimated outstanding student loan debt.
Can I get a rebate of mine that took 10 years to pay off I knee I should have just bought a new car I stars of paying off my loans
your tax dollars at work!
Thank you, President Joe Biden on behalf of my US born son Ernest Alexander who has borrowed money to get educated in the UC Santa Barbara Campus, where he is one of the foremost computer experts worldwide -- Vic Alexander
That is good news, veterans are usually not given such care. VeteransDay BidenWon GoodNews loans sundayvibes
Hav a friend to had only one child so she could provide for her education. Not fair to people who make sacrifices and plan and save for their children.
Oh…that’s ok. I paid my tuition—in full, now I will pay others’, too.
Unbelievable.
Good on ya Joe.
This is not a favor for military members as suggested, it's a slap in the face. I joined the military and deployed for our country to not have loans. I make less than my counterparts, my family has lived in 5 places in 3 years. Others weighed the risks and took the loans.
Seems like a publicity scheme... To my knowledge (current service member) most vets and service members already get education paid for.
Canceling student loans is so unfair to those who paid back their debts.
And who pays for that policy ? Hmmmm
College should have never gotten as expensive as it did. Far outpaced inflation.
Out of $1.7 Trillion. We’ve got a ways to go Joe.
And this cost nothing, it’s fully paid for. Sounds good.
Like a schmuk I paid off my student loans over 6 years. Do I get a refund?
Not enough, could do more..🤔
Good! Now they can move out of their parents home.
Who does this even apply to/for?
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In my opinion that is some good news.
If this administration actually cared about this issue they would fight to pass legislation allowing the discharge of student loan debt in bankruptcy. Student loan debt is one of the very few forms of debt that bankruptcy can’t solve.
Glad to see our country help those who are struggling to pay for higher education, farm aid is the biggest welfare program in this country, costing US taxpayers hundreds of billions each yr .
Wtf
Equal opportunities start with free education.
What is the criteria. May I get back all the money I’ve spent.
Fuck this handout bullshit
CANADA 🇨🇦 and USA🇺🇸 is IN DEAP 💩!!!!! Because of ' LEADER'S '!!!
Cancel is bullshit. It means transfered from deadbeats to the tax payers.
In other words, punish those who made the sacrifice to pay their bills responsibly. And what about those in school now, will grant $ cover their loans? Not exactly ecumenically fair.
👀
Calvinists won't see in spite of seeing
usc Department of Social Work graduates probably benefitting the most.
Calvinists won't see in spite of seeng
Crazy
That is not teaching responsibility. I paid off my loans, they should pay theirs. That is all BS.
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Wait I thought this had to go through Congress?
شطب ديون الطلبة في امريكا لاكثر من ٢ مليار دولار ..
And it costs joe biden, ZERO…
Education Department that doesn't know the true Origin of USA. Education Department that doesn't know I should have my Financial Autonomy because I am God/Allah of USA. Education Department that is not Educating Residents of USA about God/Allah Boco Eke of USA.
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If it’s good enough for predatory lending, it’s good enough for Education.
Will we get reimbursed if we made sacrifices to pay them off? POTUS
Just another 80 billion to go.
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horrible
Veterans