On the face of it, canceling any student debt creates a class of winners, and no class of losers. After all, nothing happens to those unaffected, except that their local economies may be stimulated as former college debtholders will likely spend more on goods and services once they are permanently freed of their monthly debt payments.
28 hours per week for the whole year in 2020—nd that doesn’t include the costs of room, board, books, and transportation.
Does it mean the end of student loans?
Non retired working people, w their taxes, currently fund retired elders who have soc security, pensions, retirement income, no college debt n own houses. But so many of the gifted elders wont even support the elimination of crippling college debt for them.
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When Student Loan Debt Paused, These Borrowers Kept PayingRather than skipping payments during the Biden administration’s student-loan freeze, a small but committed percentage of borrowers chose to keep paying anyway. “The pandemic, as unfortunate as it was, turned things around for me with the freeze,” said one. 'chose to' um there have to be certain circumstance to be able to even have a choice Seen the terms of US student loan: that is the first thing to pay off. Borderline slavery. Um, my payments never stopped during the freeze. I literally had no choice but to continue paying.
Source: WSJ - 🏆 98. / 63 Read more »
Ross: Should Biden cancel student-loan debt?Biden seems to be considering forgiving about $10,000 – enough to make a big difference for poor families, but probably way too low to excite the young middle-class voters the Democrats will need in November. Middle class is “struggling”, poor are actually suffering. GeeScottSr says it best (paraphrased), most of the problems society has can be solved by lifting up the poor.
Source: Mynorthwest - 🏆 438. / 53 Read more »
Opinion | President Biden, it’s time to cancel student debtOpinion by Ro Khanna: It’s the right thing to do. And it makes economic sense. is this on federal loans or private bank loans Restitution costs will be high interest in time is pricy ! So where’s the bill? What a shame Ro doesn’t know anybody in, let’s say, Congress, who could write and promote the legislation on this that the president said he’d sign… Oh wait.
Source: washingtonpost - 🏆 95. / 72 Read more »
'I Don't Believe in a Cutoff': AOC Says Biden Shouldn't Means-Test Student Debt ReliefThe New York Democrat warned that limits on student loan forgiveness \u0022could exclude many of the frontline workers who are drowning in debt.\u0022 AOC The creditor class seized control of government 40 yrs ago, cutting off normal gov't investment in the public sector. This allowed banks to rake in billions in penalties and fees, causing a massive private debt that today is at peak level, meaning it can never be repaid. AOC AOC Quaint, but hyper complex means testing is the way the geriatric Democratic leadership will “fight for”[tm] early-bird fundraising opportunities for their minions to bleed the system. Its what the Democratic Party has become.
Source: commondreams - 🏆 530. / 51 Read more »
Sen. Warren: 40 percent with student loan debt do not have a college diplomaPresident Biden canceling student debt and significant student debt relief are encouraged by Sen. Elizabeth Warren. 'In fact, 40 percent of the people who have student loan debt do not have a college diploma. Think about that,' Sen. Warren tells Joy Reid. A Fake Indian,and a Fake Journalist walk into a bar… U have zero credibility. Do what I say. Think what I think. When a ruling doesn’t go your way - the sky is falling. You never address the poor and those w/out a college degree subsidizing those with student loans. 56% are working for or have grad degree. Impact on inflation? This woman needs some serious help. Why do these people come out of nowhere when an election is approaching? Is anyone buying into any of this?
Source: MSNBC - 🏆 469. / 51 Read more »
Biden Weighs Forgiving Some Student Debt for Those Who Earn Less Than $125,000 a YearLoan forgiveness, one of the president’s campaign planks, has met opposition from Republicans and some moderate Democrats. No you took the loan you pay it back. End of story. Not everyone else’s problem who had nothing to do with your decision. great, but wont this just cause more inflation? So those who worked hard, maybe took on two jobs, to pay off their loan get nothing? And why do those who couldn’t afford to, or chose not to go to college, have to pay for those that did? Makes no sense
Source: WSJ - 🏆 98. / 63 Read more »