Aug 23, 2022 at 5:42 pm
The nation’s federal student debt now tops $1.6 trillion after ballooning for years. More than 43 million Americans have federal student debt, with almost a third owing less than $10,000 and more than half owing less than $20,000, according to the latest federal data. Biden was initially skeptical of student loan debt cancellation as he faced off against more progressive Democratic Sens. Elizabeth Warren and Bernie Sanders, who had proposed cancellations of $50,000 or more, during the 2020 primaries.
Inside the administration, officials have discussed since at least early summer forgiving more than $10,000 of student debt for certain categories of borrowers, such as Pell Grant recipients, according to three people with knowledge of the deliberations. That remained one of the final variables being considered by Biden heading into Wednesday’s announcement.
“President Biden’s decision on student debt cannot become the latest example of a policy that has left Black people — especially Black women — behind,” he said. “This is not how you treat Black voters who turned out in record numbers and provided 90% of their vote to once again save democracy in 2020.”
OPMFV = Inflation
It turns out it wasn’t exactly enough to pay off an education, but more than zero. It’s something. Now universities need to share some of the risk as well.
I paid my own way 45 years ago and then saved and paid for my 2 kids. This is total BS.
The company that is paid to do nothing but set up a website to set up the loans bought the LA Rams for $645 million. That is where the waste fraud and abuse is. End this stupid ponzi scheme.
Yea, I call bs on your logic, student debt is currently one of the biggest drags on the economy because people can't spend their wealth because they're hand cuffed to paying off their ridiculous loans they were scammed into in the first place, fucking grifter
It’s about time plumbers paid for lawyers student loans!
More giveaways courtesy of people who pay taxes
Brandon is buying votes with taxpayer money.
Great, just raise their Fed Income Tax rate to the max for about 20 yrs, so they pay their share.
He loves to play Santa with the tax payers money.
Why did we work two jobs to put the kids thru college?
Holy shit🤬. I just pd for all 3 of mine. Tax credit ?
More robbery
Just wondering if you ever printed “President Trump set to announce his completed border wall they Mexico paid for?” OR “….complete infrastructure week?”
Nobody: Ukrainians: Thanks for I don’t even know how many billions. Us: WTF MANNNNNN
That is wrong.
Students who incurred student loans earn above the average median income levels. Those in part who did not go to college and earn below the average median income level will be paying off their student loans Now you understand how Socialism works up close and personal
L President..
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