A U.S. plan announced this week to forgive $10,000 in student loans for millions of debt-saddled former college students will cost roughly $24-billion a year assuming that three quarters of those eligible take up the offer, the White House said.
Some economists said it may fuel inflation and Republicans mostly oppose student loan forgiveness, calling it unfair because it will disproportionately help people earning higher incomes. “Assuming that 75% of folks take us on on the President’s student loan cancellation plan, and you look at the average cash flow on that, it’s going to be about $24 billion per year.”
US is going down .
This is Gen z pandering for political gain only. If you can’t repay your loans, work with credit counsellor, give up luxuries like vacations, entertainment, etc., and if necessary, declare bankruptcy. The rest of us repaid our loans, some at much higher interest rates, suck it up
Why not solve world hunger with that money, or buy more guns for Ukraine?
Now do corporate hand-outs and billionaire tax cuts.
A huge US economic boost! good👍 start POTUS studentloanforgiveness CancelStudentDebt
Going to do article on Mark Zuckerberg of Facebook disclosing the FBI told Facebook to censor the Hunter Biden laptop?
Buying votes. Like Trudeau does
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Big student loan forgiveness plan announced by BidenBorrowers who earn less than $125,000 a year, or families earning less than $250,000, would be eligible for the $10,000 loan forgiveness How unfair is that? All of the students who saved to pay off their debt now have to pay for those who didn’t save. Plus, it’s usually the most fortunate kids who go to university. So poor people have to pay for the elite to go to school What a stupid decision. 2020: 'I've saved all my money. [My daughter] doesn't have any student loans. Am I going to get my money back?' Warren: 'Of course not.' 'So you're going to pay for people who didn't save any money and those of us who did the right thing get screwed.' Yay transfer debt from the students that made the decision to take out the loan, to the working class that couldn’t afford to in the first place. Yay!
Source: globeandmail - 🏆 5. / 92 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 »
BTC price holds support at $21,500, but analysts warn that the overall trend is bearishBitcoin and the wider crypto market traded flat on Wednesday aside from a brief spike in activity after U.S. President Joe Biden’s announcement on student loan forgiveness. I dont think you need to be an analyst to see BTC is in a horrible downtrend. Nor do you need to be an analyst to use the Saylor to Schiff ROC indicator. BTC bulls here are very confusing. Much like those that think TSLA should currently have a market cap of almost $1tn.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »
Biden student loan forgiveness impacts millions, raises inflation questionsPresident Joe Biden said on Wednesday the U.S. government will forgive $10,000 in student loans for many debt\u002Dsaddled college graduates.
Source: VancouverSun - 🏆 49. / 61 Read more »
U.S. student loan forgiveness could help more than 40 millionMore than 40 million Americans could see their student loan debt reduced - and in many cases eliminated - under the long-awaited forgiveness plan President Joe Biden announced Wednesday, a historic but politically divisive move in the run-up to the midterm elections. This is straight up buying the votes of some, on the backs of all. So they're going to take taxes off the pay cheques of low level workers that never went to school to help pay for their bosses education? Keep printing that money. 🤡🤡
Source: CTVNews - 🏆 1. / 99 Read more »
Biden student loan forgiveness impacts millions, raises inflation questionsPresident Joe Biden said on Wednesday the U.S. government will forgive $10,000 in student loans for many debt\u002Dsaddled college graduates. Absolutely ridiculous. There should be class action law suit against Biden by the middle class who chose to pay for their kids education. potus is bribing everything with a heartbeat for the Nov election.
Source: TheTorontoSun - 🏆 23. / 68 Read more »