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| A Presidential Election is Coming - Biden Admin Announces Another $9B Student Debt Giveaway |
| 2023-10-06 |
| [NewsMax] Four days into the payment resumption for federal student loan borrowers, President Joe Biden on Wednesday announced another $9 billion in debt forgiveness. Now, an additional 125,000 borrowers will see their debt erased through existing programs. Most of the debt discharge is part of the Biden administration’s efforts to remediate the dysfunctions in student loan forgiveness through the Public Service Loan Forgiveness program and income-driven repayment (IDR) plans. The relief also includes debt cancellation for borrowers with total and permanent disabilities. The existing programs previously didn't count payments that should have otherwise qualified toward the totals needed for forgiveness. Fixes include an adjustment that counts every month borrowers ever spent in student loan repayment or on pause toward forgiveness under income-driven repayment — even if borrowers never enrolled in an IDR plan. It takes 20 or 25 years under IDR for borrowers to get their remaining debt canceled. The adjustment also increases the number of payments counted toward Public Service Loan Forgiveness, which happens after 10 years worth of payments. The first major wave of relief under this automatic account adjustment began in August with debt cancellation totaling $39 billion for 804,000 borrowers. Related: Debt forgiveness: 2023-09-24 Borrowers weigh payment boycott as student loan payments set to resume Debt forgiveness: 2023-06-30 BREAKING: Supreme Court Kills Joe Biden's Student Loan Forgiveness Debt forgiveness: 2023-05-10 PM Barre fires at Deni, accuses him of derailing debt relief process |
| Posted by:Besoeker |
| #6 Kabuki just like the new "border wall". 20 miles of wall. Useless. It will probably have a door every 6 feet. |
| Posted by: Deacon Blues 2023-10-06 13:04 |
| #5 Some problems heavier than student debt? |
| Posted by: Grom the Reflective 2023-10-06 12:48 |
| #4 ...And you know, on reflection, this doesn't have to work; it's going to get shot down in court just like all the others. But the rubes - I mean, federal student loan borrowers - only hear, "Hey, I tried - those mean courts said no. So vote for us anyways!" And that is exactly what will happen. Mike |
| Posted by: MikeKozlowski 2023-10-06 09:15 |
| #3 ^Although the real damage to the economy is not their student loans but expanding the public sector to provide jobs for all these harmful (if only they were merely worthless) parasites. |
| Posted by: Grom the Reflective 2023-10-06 03:59 |
| #2 Well "educated" are sure to vote the right ticket. |
| Posted by: Grom the Reflective 2023-10-06 03:54 |
| #1 American Thinker - Joe Biden is adamant that you pay other people's student loans |
| Posted by: Besoeker 2023-10-06 03:42 |