Student loan forgiveness: Some to get $20,000 dismissed, how to see if you have Pell Grants

President Joe Biden announced a plan Wednesday morning to provide some student loan relief for American families.

If you went to college on a Pell Grant and are making less than $125,000 a year, you may be able to wipe $20,000 out from your student loan debt. The plan also allows borrowers with undergraduate loans to cap repayment at 5% of their monthly income. If your monthly income is $3,000, for example, you can expect to pay no more than $150 a month in student loans when payments resume.Borrowers who did not receive Pell Grants are eligible for $10,000 in loan forgiveness, while Pell Grant recipients will be eligible for $20,000 in forgiveness.

I hope they know they will have to pay taxes on the charge off amount. That's considered income.

Total bullshit. I worked my ass off with 2 jobs to get a college degree. Why forgive debt? Get a damned job and pay it back!

That's right pay their debts, make the even less responsible than they are already

Good. The bare minimum for many people I know who have been blocked out of starting families or buying homes because of their student loans.

And what about those who already loans back? Will they get a check too? 😒

No such thing as loan forgiveness. It’s called a loan transfer. The person who took out the loan and was to lazy to pay it back is now transferring the debt to the taxpayers.

Canceling student loan interest would help vastly more.

They took the money. They agreed to pay it back. What is so hard about this? What a joke. A windfall for irresponsible people, many of whom with high incomes. What about the working men and women who didn’t go to college?

Thanks Biden! This will help me immensely

Democrats buying votes by appealing to the slugs. Do I get a refund for my tax dollars that went towards these loans? Do I get a refund on the money I scraped together to pay my college tuition? Asking on behalf of millions of responsible, hard working AMERICANS.

Do people use student loans for other things? Technically, you're supposed to use student loan money on education expenses, such as tuition or housing. But realistically, you can spend your student loan money on pretty much anything

I know for a fact that these kids borrow this education loan money and buy TVs, Furniture and just throw it away. I'm not paying for them to have a better live than I do with my money.

I paid my way, i paid my kids way with no loan. I can tell you this: If you are person that took the loan and didn't pay it back, you will not get a job if i can help it. You have displayed irresponsible behavior by not being financially responsible.

Biden is buying the votes of freeloaders & moochers, and responsible people are picking up the tab.

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Biden forgiving up to $20K in student loan debtPresident Joe Biden announced Wednesday that his administration will forgive up to $20,000 worth of student loan debt for borrowers who received Pell Grants. “Idiocracy” is looking more and more like a documentary by the day. This does nothing until we have student loans reform. These loans are predatory. Why would we offer 18 year olds who haven’t worked loans or $100k+ and make it impossible to get rid of via bankruptcy etc. Good start but big changes needed
Source: kgun9 - 🏆 584. / 51 Read more »

Biden student loan plan: $10,000 forgiven, $20,000 for Pell Grant recipientsBiden is also extending a pause on federal student loan payments for what he called the “final time” through the end of 2022. Where's my freakin refund I payed my student I didn't get a handout. Your just trying to buy votes Biden. While you create a spoiled generation of young people. Your just a junky president. I'm eligible! 😐. Wish i did make that or more...
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Biden student loan plan: $10,000 forgiven, $20,000 for Pell Grant recipientsBiden is also extending a pause on federal student loan payments for what he called the “final time” through the end of 2022.
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Biden announces mass student loan forgiveness programBREAKING: President Joe Biden has announced a mass student loans forgiveness program. This is discriminatory towards anyone who did not attend college. It’s in keeping with the slacker mentality this generation and progressives have. they’re the same one who endorse “quiet quitting”. Colleges should be on the hook for student debt. Part of the tuition should be for a placement program for the student's first job in their field of study. This should eliminate bogus degrees and make colleges focus on education NOT safe spaces.
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Student loans: Biden could announce $10,000 student loan forgiveness as soon as WednesdayEligible borrowers would include those with federal Direct Loans, FFELP Loans, Perkins Loans, Parent PLUS Loans and Grad PLUS Loans. Borrowers with private loans would be excluded. Shame. I made way less than that after college and had to pay all mine back. I agreed to the debt, so I was responsible for paying it back. Why? It is a half measure that angers the left for its cowardice but still makes the right rage. If we can bail out Wall Street and forgive PPP loans (averaging over $90,000) we can forgive 100% of student debt. idk if i can even call this a half measure, more like a 1/8 measure. cancel all existing, and hard cap interest rates permanently
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Biden's Decision on Student Loan Forgiveness Could Come as Soon as TomorrowThe Biden administration has promised to make a decision on student loan forgiveness by the end of August, when monthly loan payments are scheduled to resume after being paused for over two years: Good. They deserve it but it should be more. They work 4 times harder and for less pay than the entitled boomers who got to go to school for $500 a semester.
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