Some celebrate President Biden's student loan announcement, others criticize it

The president announced that he will forgive up to $10,000 in student debt for borrowers earning under $125,000 per year annually or under $250,000 as a family. Pell Grant recipients, meanwhile, will be able to have up to $20,000 in debt relief.

She is a teacher who is still paying off her own student loan debt in her 40s and says this has the potential of eliminating the balance she owes. “What are we going to do to tackle the high cost of higher education going forward because we can't always rely on this kind of amazing announcement to come along so we are going to have to think about things longer term,” Zenzinger said.Others like Rep. Colin Larson, R-Jefferson County, see the announcement as a short-term solution that will only help a handful of Americans out without tackling the true issue of student debt.

“It does nothing to solve the long-term problem of increasing higher education costs, debt burdens on future generations, including kids in college today, and it does nothing to help, frankly, people like me who paid their student loans off a few years ago,” he said. It won’t add to the national debt because that is money the U.S. owes and student debt is not part of that, according to University of Denver finance professor Mac Clouse. However, Clouse says forgiving the debt will reduce the dollars received by the US government from those borrowers which will increase the US budget deficit and could lead to increased government borrowing.

U.S. Congressman Ed Perlmutter, however, disagrees with that assessment and says he believes the move will actually help the economy in the long run.

Lots of poorly paid teachers will benefit as their income is rarely commensurate with their school loans. Or, how about all the wait people with degrees and poorly paid people who don’t live with their parents!

The low life blood suckers of society are happy, I mean Biden voters

Will people have a 1099 mailed to them? This is income now? If so here come the taxes. Yep going to need IRS bigger.🤣🤣🤣 That is if I am right. Unpaid bill, companies send you a 1099 Saying unpaid bill is income you made. Now you must pay taxes. Can't be illegal non violent.

“People think that the President of the United States has the power for debt forgiveness,” she said. “He does not. He can postpone, he can delay, but he does not have that power.” Pelosi argued that student loan forgiveness can only be accomplished through “an act of Congress.”

“Millions of others”? Which millions? Did you just make this up to bothsides the story?

When Trump and the GOP were giving out huge tax cuts that a much larger percentage of people didn't benefit from, were you also stoking this working class intermural rift? You're being led by the nose to present this framing and you probably don't even know it. copolitics

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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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Biden's student loan plan: What we know (and what we don't)President Joe Biden is expected to announce today that many Americans can have up to $10,000 in federal student loan debt forgiven. Here's what we know so far and what it means for people with outstanding student loans. It means the responsible will be paying for the irresponsible. The US could get more bang for the buck if it paid debts based on not the face value but what the holders of the debt paid. Why? Because most student loans are resold in'tranches' at cents on the dollar. If someone paid $1k for a 10,000, pay the $1k, wipe out $10,000! Congrats to every worker busting their ass in the the ship channel, truckers, and other blue collar gigs to fund someone’s gender studies degree. Elections have consequences.
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PolitiFact - On student loan forgiveness, Joe Biden has many optionsPresident Biden has announced a plan where $10,000 of student debt loan will be forgiven for those who didn't receive Pell Grants and make less than $125,000. The pause on student loan repayments has been extended to the end of the year. Link appears to go to a different article- heads up! Just remove the interest. That is the most common sense and fair option
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Joe Biden expected to announce $10,000 student loan forgiveness program Wednesday: reportPresident Biden's expected announcement to forgive $10,000 in student loans will cost American taxpayers around $300 billion, according to some estimates. Buying them votes ahead of mid-terms again. Kurohig51653942 Such a disgrace!🖕 He better not
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Chuck Schumer begged Joe Biden to boost student loan forgiveness: ReportBiden is expected to announce a plan on Wednesday to forgive $10,000 in debt for Americans with federal student loans who make $125,000 per year or less. What about mine from 1996? I paid them off making $24k a year The democrat world. Dems and pedo joe are better at creating fear by using the FBI, IRS and every agency to intimidate the American people.
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