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2022-08-24 Home Front: Politix
White House poised to cancel up to $10K in debt for some student loans
Wish I'd borrowed a ton of money to finance my education, I could be cheating some bank out of it now, instead of paying for other cheats.The Biden administration is leaning toward canceling up to $10,000 in student loan debt for those who make less than $125,000 a year, according to a new report.
Ten thousand dollars won’t go very far against college loans heading toward $200,000 for four years at a name school, whether for something useful or the equivalent to a degree in Italian Renaissance poetry...
CNN
...formerly the Cable News Network, now who know what it might stand for...
 reported that the announcement could come Wednesday, and that additional forgiveness for specific parts of the population are on the table as well.
Is this expected to be a permanent thing? Or are future college loans expected to be paid back?
Liberal Democrats such as Sen. Elizabeth Being Native American has been part of my story since the day I was born Warren
...The Great White Squaw, Lizzie is the Dem Senatrix from Massachussetts. She traces her noble lineage all the way back to Big Chief Spouting Bull. She has high cheekbones that stretch all the way to the top of her head. It has been alleged that she speaks with forked tongue but she denies that. She had a DNA test to prove her lineage and it turns out she's colorless...
 of Massachusetts have pressed for a far more sweeping loan forgiveness program. The income cap was seen as a way of insulating the White House from criticism that the debt relief is benefiting those who can afford their payments, per CNN.

Sources told the network that the White House will also weigh in on the Aug. 31 expiration of the moratorium on student loan payments.

Last month, the Education Department told loan service providers not to contact borrowers about resuming payments, according to reports.
Posted by Fred 2022-08-24 00:00|| || Front Page|| [14 views ]  Top

#1 Fine - as long as it applies to anyone whoever took out student loans who's still alive. Why should those of us who paid off their student loans get the shaft? It's all about equity, man!
Posted by Raj 2022-08-24 01:08||   2022-08-24 01:08|| Front Page Top

#2 Kind of dilutes the value for education that those of us paid off by ourselves.

Although we did get a better product back then.
Posted by Mullah Richard 2022-08-24 07:48||   2022-08-24 07:48|| Front Page Top

#3 Where is the constitutional lawsuit that only congress can approve spending budgets?
Why no pushback on the other student loans already forgiven for failing schools?
Congress should pass law extract the forgiven money from the universities that receive student grants.
Another give away before an election to buy votes!
Posted by boomerc 2022-08-24 08:21||   2022-08-24 08:21|| Front Page Top

#4 I'm hoping to get a refund of the $4500 I paid back over 40 years ago. Plus interest!
Posted by Bobby 2022-08-24 08:41||   2022-08-24 08:41|| Front Page Top

#5 

OK! What about a 100% TAX CREDIT for those of us that got off our A$$'es and paid off our student loans?
Posted by NN2N1 2022-08-24 08:56||   2022-08-24 08:56|| Front Page Top

#6 What are the chances anyone will ever repay a student loan ?
Posted by Besoeker 2022-08-24 09:29||   2022-08-24 09:29|| Front Page Top

#7 ^ It all part of the master plan to make it all into play money.
Posted by M. Murcek 2022-08-24 09:32||   2022-08-24 09:32|| Front Page Top

#8 
Posted by M. Murcek 2022-08-24 09:34||   2022-08-24 09:34|| Front Page Top

#9 I think the white house will find the 'promise' of a thing gets more loyalty than the 'granting' of the thing.
Posted by ruprecht 2022-08-24 10:11||   2022-08-24 10:11|| Front Page Top

#10 The kids may or may not vote. Their parents who co-signed certainly will. No need to mention which party.
Posted by M. Murcek 2022-08-24 10:39||   2022-08-24 10:39|| Front Page Top

#11 Forgive the interest and penalties. Pay back what you borrowed.
Posted by Angstrom 2022-08-24 11:08||   2022-08-24 11:08|| Front Page Top

#12 Why should those of us who paid off their student loans get the shaft? It's all about equity, man!

Why Komrades...people of the collective like yourselves owe it to others to take on your fair share of debt. To do otherwise would be hoarding wealth. Do you have a certification in Hydrodamalis Gender Construct Stanza? I certainly hope you are not of the kind to deny education.
Posted by swksvolFF 2022-08-24 11:16||   2022-08-24 11:16|| Front Page Top

#13 Wat about a reverse GI Bill? Serve two years at half pay....all is forgiven.
Posted by Besoeker 2022-08-24 11:22||   2022-08-24 11:22|| Front Page Top

#14 Tried something like that during Obama. IIRC if a person got involved in a community program, such as volunteer fire, I'd imagine other types of community service in urban settings perhaps soup kitchen, picking up trash in parks, whatever, there would be student debt forgiveness.

Not sure how that works, if the debt forgiveness out-valued having a paying job. I think the goal was Funemployment! but someone ruined the gig with a noble condition.
Posted by swksvolFF 2022-08-24 12:16||   2022-08-24 12:16|| Front Page Top

#15 Donate an organ, get loan forgiveness.
Posted by Silentbrick 2022-08-24 13:17||   2022-08-24 13:17|| Front Page Top

#16 ^Does it have to be one of yours?
Posted by Skidmark 2022-08-24 13:24||   2022-08-24 13:24|| Front Page Top

#17 Adam Sh*tkoft just another LSD Ahole.
Posted by NN2N1 2022-08-24 14:47||   2022-08-24 14:47|| Front Page Top

#18 Tried something like that during Obama. IIRC if a person got involved in a community program, such as volunteer fire, I'd imagine other types of community service in urban settings perhaps soup kitchen, picking up trash in parks, whatever, there would be student debt forgiveness.

If you recall, it was hard to get the 'volunteer' to show up after the first day of the job.
Posted by Mullah Richard 2022-08-24 14:59||   2022-08-24 14:59|| Front Page Top

#19 Never underestimate the predictability of Free Shit People.
Posted by swksvolFF 2022-08-24 15:51||   2022-08-24 15:51|| Front Page Top

#20 Why should I, who never had a student loan but worked my ass off, have to support some spoiled brat who was stupid enough to sign a very large loan for a totally useless 'basketweaving ethnic studies' major?
Posted by CrazyFool 2022-08-24 16:38||   2022-08-24 16:38|| Front Page Top

#21 Socialism. Socialist government subsidizing leftist professors high salaries to pump leftist garbage into students heads. Students cant pay it back because no one will pay much for what they learned from leftist professors.
Posted by Cletle Shinese1880 2022-08-24 16:42||   2022-08-24 16:42|| Front Page Top

#22 ^ We have a winner!
Posted by M. Murcek 2022-08-24 16:43||   2022-08-24 16:43|| Front Page Top

#23 And the looting of the remaining wealth of the nation continues. Obama/Biden has tripled the national debt and doubled the illegal alien residency. Since Biden is a mere Puppet Show, I suspect the Magic Kenyan has done more to damage America than anyone since Hitler/Hirohito.
Posted by NoMoreBS 2022-08-24 17:12||   2022-08-24 17:12|| Front Page Top

#24 Abilities and Needs, Komrade CrazyFool. Abilities and Needs.

You have the ability to pay off debts. That graduate has the ability to apply the theories of Retrogradiant Hydrodamalis Magentafollical Observations to prove Polyester is Racist; can you do that? I F^kn' Love Science!
Posted by swksvolFF 2022-08-24 17:18||   2022-08-24 17:18|| Front Page Top

#25 I have an aquaintence who has a Master's in English Literature, a Bachelor's in English and a Bachelor's in poetry. She is happy that she will at least get a 10 grand reduction in her student loan because she can't pay it back because she can't get a job in her prefered fields. She refuses to work period.
Posted by Deacon Blues 2022-08-24 18:53||   2022-08-24 18:53|| Front Page Top

#26 My BA is English. I worked straight out of school as a newspaper reporter for three years. So, I had a job related to my degree. Then I wound up in IT for the next 40 years. I thought about a Masters' briefly, but I could not justify stepping away from a steady paycheck. I had no student debt.

Is my experience typical? Probably not. Is it proof that you can go somewhere with a liberal arts degree? I'd say so.
Posted by M. Murcek 2022-08-24 19:00||   2022-08-24 19:00|| Front Page Top

#27 I love getting calls from scammers telling me that the government is going pay off my student loan. They usually just hang up when I tell them I paid off my loan 40 years ago when the cost of mailing my check every month got to be more than the interest on the loan.
Yes, there was a period of three years when I didn't pay off on the loan - when I spent three years active duty in the Navy.
Posted by Rambler in Virginia 2022-08-24 19:05||   2022-08-24 19:05|| Front Page Top

#28 Insightful comment from Greg Price on CTH:
"Here are some facts: Only 37% of Americans have a 4-yr college degree, only 13% have graduate degrees, and a full 56% of student loan debt is held by people who went to grad school.

Biden's plan to cancel it would be like taking money from a plumber to pay the debt of a lawyer."
8:44 AM · Aug 23, 2022
Posted by NoMoreBS 2022-08-24 20:26||   2022-08-24 20:26|| Front Page Top

#29 Trump and/or DeSantis should announce that if the President can forgive $10000 of student loans then next President can forgive $10000 in purchase of Firearms for any adult making less than $125k and can legally own a gun.
Posted by Airandee 2022-08-24 21:19||   2022-08-24 21:19|| Front Page Top

#30 I suspect many will stop working or work under the table not reporting their income to stay under the $125K.
$10,000 doesn't even graze the cost of 11 years of college that I paid for my daughter.
This so sucks.
Posted by Jan 2022-08-24 22:28||   2022-08-24 22:28|| Front Page Top

18:22 Spats+B.+Hayes8168
18:14 NN2N1
17:58 Airandee
17:26 Ululating Platypus
17:13 Lord Garth
16:57 SteveS
16:57 Lord Garth
16:27 NoMoreBS
16:20 BrerRabbit
16:19 NoMoreBS
16:16 Elmerert Hupens2660
16:13 Grom the Reflective
16:03 alanc
15:43 Procopius2k
15:28 Abu Uluque
15:26 Abu Uluque
15:08 M. Murcek
15:06 Besoeker
14:59 ACA JOE
14:58 Grom the Reflective
14:55 swksvolFF
14:48 Besoeker
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