abc.net.au/news/us-biden-student-loan-forgiveness-could-help-millions/101370008US President Joe Biden has announced a plan that could see student loan debts reduced — and in many cases eliminated — for more than 40 million Americans, a historic but politically divisive move in the run-up to the midterm elections.
Republicans quickly denounced the plan as an insult to Americans who have repaid their debt and to those who didn't attend university.Critics across the political spectrum also questioned whether Mr Biden has authority for the move. Legal challenges are virtually certain. The cancellation applies to federal student loans used to attend undergraduate and graduate school, along with Parent Plus loans.Current university students qualify if their loans were issued before July 1. For dependent students, their parents' household income must be below $250,000.
As a black woman, she said higher education was a requirement to obtain a more stable financial future, even if that meant taking on large amounts of debt. The proposal would create a new payment plan requiring borrowers to pay no more than 5 per cent of their earnings, down from 10 per cent in similar existing plans.
Mr Biden's plan comes after more than a year of deliberation, with the president facing strong lobbying from liberals who wanted sweeping debt forgiveness, and from moderates and conservatives who questioned its basic fairness.
Make people pay to do irrelevant courses
Socalism, free uni means worthless degrees. Pay for what you used,coz also next person actually need a loan to study .Selfish act.
March on Marxist
This is a good move.
It will stop current and future students paying off their student loans because they will wait for the next round of debt forgiveness!
in australia theyll continue charging interest.
How entitled do you have to be. To willing take out the loan but expect it to be whipped or paid for by someone else
Biden is prioritising support of corrupt regime in Ukraine and arming of its far-right neo-nazi... American students could wait.
🤣🤣🤣 how many won’t it help? The working class will pay for little Johnny’s law school fees. Endowments are in the billions. Use them. Question is, why are courses costing so much? You truly are a joke ABC. Bidens buying votes.
The ABC thinks that taxpayers paying the off the loans that students agreed to pay themselves is a good thing. Now universities can suck in even more low IQ victims & hire more Diversity, Inclusion & Equity barnacles. We’re witnessing the death of higher education in the USA.
And will hurt 280 million
If you're a corrupt Ukrainian politician or have a 50k degree in Interpretive Dance, Biden is pretty good for you. Everyone else? Not so much.
Australian government renewable policies won't do shit,
Gee those people who did the right thing are suckers. Can't see Dementia Joe and the Dems getting an uplift in the polls.
Perfect socialism. The transfer of money from people who didn’t benefit or couldn’t afford to go to college to those who could.
It'll hurt a lot more. Say, by putting that money into homelessness, hospitals, kids in dangerous situations, etc... So anyway. Who's paying the bill at the end of all of this? And has the disgusting situation that our universities have become that caused this been addressed?
Who gonna pay for it, dirty hunter Biden?
The Australian Biden Corporation.
Can taxpayers claim these 40 million borrowers as dependents on our taxes?
Yeh but it’s not going to help educate Murricans now.
Typical Leftards. You will pay for my Gender Studies and enjoy the privilege of doing so.
LOL, who thinks of this shit? Imagine how the students feel that have already paid off their student loans? Imagine how the tax payers feel having to pay off other people's debts.
Cold hearted capitalists Americans with no inter community spirit or lack of compassion or ideological misers will surely hate this. It's what is termed ,the power rats from the rat race.
Help 40 million at the expense of 300 million
but it wont translate to votes GOP would wind both houses
Since his inauguration, Joe Biden has done nothing except accelerate the USA's plummet into economic oblivion.
Ppl need to start understanding that the lenders (gov) and expensive universities are the root cause of this problem. Without irresponsible lending - no problem. Without expensive uni - no problem
It will just encourage more people to go do more destructive Arts degrees. Uni will become more wasteful and counter productive.
It’s totally unethical to use tax payers money to buys votes.
Why do the tax payers have to pay for some else’s loans?
By taking the tax from low wage earners, and giving $10,000 to medium/high wage earners? Righto.
Hardly fair for all the people that paid off their loan.
Meanwhile, the 5 million who worked hard and paid off their loans will get squat. Leftards.Every.Fcuking.Time
Propaganda trap
Loans Loans Latest News, Loans Loans Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: GuardianAus - 🏆 1. / 98 Read more »
Biden announces plan to cancel $10,000 of student debt for millionsThe White House estimates the plan would erase the federal student debt of about 20 million people. 9News To be paid for by workers who didn’t go to university! Cold hearted capitalists Americans with no inter community spirit or lack of compassion or ideological misers will surely hate this. How anyone can look a person in the eye who changes bed pans , pack shelves , empty rubbish bins etc and be ok with them paying for their useless Journalism , gender study degrees just blows my mind. Talk about trying to buy votes
Source: 9NewsAUS - 🏆 10. / 72 Read more »