Biden cancels student loans for millions of U.S. borrowers

Many Democrats had pushed for Biden to forgive as much as $50,000 per borrower, but cheered his action.

“President Biden’s student loan socialism is a slap in the face to every family who sacrificed to save for college, every graduate who paid their debt, and every American who chose a certain career path or volunteered to serve in our Armed Forces in order to avoid taking on debt,” Senate Minority Leader Mitch McConnell said Wednesday.

The government is also forgiving up to $20,000 in debt for recipients of federal Pell Grants, some 6 million students from low-income families, and is proposing a new rule that protects some income from repayment plans and forgives some loan balances after 10 years of repayment, the Education Department said.Article content

Taxpayers are paying for biden votes now.

And will increase taxes for nearly all of them

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Biden to cancel student loans for millions of U.S. borrowers WednesdayWASHINGTON — U.S. President Joe Biden will announce Wednesday that the government will forgive $10,000 in student loans for many of the country’s debt\u002Dsaddled… That should help with inflation lol 😂
Source: OttawaCitizen - 🏆 21. / 68 Read more »

Big student loan forgiveness plan announced by BidenPresident Joe Biden on Wednesday announced his long-awaited plan to deliver on a campaign promise to provide $10,000 in student debt cancellation for millions of Americans - and up to $10,000 more for those with the greatest financial need - along with new measures to lower the burden of repayment for their remaining federal student debt. They're doing it because its a few weeks out from midterms, not because they care. There is nothing like forcing other people to pay for your Gender Studies or Liberal Arts Degree courses all in an attempt to buy votes. My guess it will backfire. Pay your own debts, comrade.
Source: CP24 - 🏆 30. / 67 Read more »