When the pandemic first hit the country in March 2020, the U.S. Department of Education announced that it was offering the millions of Americans with student debt the ability to press the pause button on their loan payments without interest accruing. Research shows nearly all borrowers accepted.
"We know that millions of student loan borrowers are still coping with the impacts of the pandemic and need some more time before resuming payments," Biden said in a statement on Dec. 22. Prior to the public health crisis, outstanding student loan debt had surpassed $1.7 trillion, outpacing credit card and auto debt. The average monthly bill was around $400, and nearly 1 in 4 borrowers were either in delinquency or default on their education loans., a columnist for The Washington Post, recently asked.
Cancel it all. This is hurting economic growth
Writing off the debt is the right thing to do. I paid in on time for 10 years, hit a rough patch in ‘08, went into default, started over, it’s rigged so you never pay off your debt and it’s holding back the economy.
I can support making the loans zero interest…the principal should be paid back though. I agree that higher education is wayyy too expensive. The goal should be to educate all who wish to be educated. That is another issue. When you sign a document agreeing to pay though, pay.
nothing is free if you take out a loan you pay it back it is not the job of the citizens of this country to pay the loans for others GET A JOB
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Student Loans Are Due Starting May 1, But There May Be More Student Loan ReliefWill you get more student loan relief? when will people get it. biden does not want to forgive student loans. He is the main reason that even bankruptcy will not forgive student loads. He might keep postponing it at the latest after the mid terms. But he will restart it all the same. It should have already been done. Just wondering here, when I was in the military and overseas my student loan payments were paused but I later found out the interest was still accumulating. Is that the case with these pauses as well? Forgiving student loans is an unwinnable idea. Should irresponsible rich kids with a lot of assets be forgiven? Should poor kids who have little to no assets but paid all their loans off responsibly be given back thier money? This terrible idea rewards bad decisions. It will fail
Source: Forbes - 🏆 394. / 53 Read more »
Opinion | How canceling student loan debt would be strategically smart for BidenOpinion by Katrina vanden Heuvel: How canceling student loan debt would be strategically smart for Biden What gives young people the right to STEAL from banks? Banks told you how much the loan was going to cost when you pay it back. They told you BEFORE you signed the paper. Don't say crap about 'second chances' your first chance was not reading the contract. It's not going to happen. Let's be realistic does anyone really think the government is going to forget about 1.5 trillion dollars? With as bad as Biden's ratings are don't you think they would be pushing to get this through? Pay your bills people. FreeStuff
Source: washingtonpost - 🏆 95. / 72 Read more »
What Borrowers Need to Know About Biden Administration's Reforms to the Public Service Loan Forgiveness ProgramMany borrowers are finally due to get their student loans excused under the public service loan forgiveness program, after reforms by the Biden administration.
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Opinion | How canceling student loan debt would be strategically smart for BidenOpinion by Katrina vanden Heuvel: How canceling student loan debt would be strategically smart for Biden What gives young people the right to STEAL from banks? Banks told you how much the loan was going to cost when you pay it back. They told you BEFORE you signed the paper. Don't say crap about 'second chances' your first chance was not reading the contract. It's not going to happen. Let's be realistic does anyone really think the government is going to forget about 1.5 trillion dollars? With as bad as Biden's ratings are don't you think they would be pushing to get this through? Pay your bills people. FreeStuff
Source: washingtonpost - 🏆 95. / 72 Read more »
Student Loans Are Due Starting May 1, But There May Be More Student Loan ReliefWill you get more student loan relief? when will people get it. biden does not want to forgive student loans. He is the main reason that even bankruptcy will not forgive student loads. He might keep postponing it at the latest after the mid terms. But he will restart it all the same. It should have already been done. Just wondering here, when I was in the military and overseas my student loan payments were paused but I later found out the interest was still accumulating. Is that the case with these pauses as well? Forgiving student loans is an unwinnable idea. Should irresponsible rich kids with a lot of assets be forgiven? Should poor kids who have little to no assets but paid all their loans off responsibly be given back thier money? This terrible idea rewards bad decisions. It will fail
Source: Forbes - 🏆 394. / 53 Read more »