Parents wonder: Does Biden's student debt
handout include college loans taken out
by moms and dads?
Fox News,
by
Deirdre Reilly
Original Article
Posted By: Black Conservative Voice,
8/27/2022 7:49:37 AM
After President Biden announced his student loan handout plan on Wednesday, August 24, 2022, many parents immediately wondered about the status of the college loans they took out in their own names on behalf of their children.
Many moms and dads took out Parent PLUS loans, the federal loans available to parents of undergraduate students to handle college expenses not covered by financial aid.
Currently, at least 3.4 million Parent PLUS borrowers owe at least $87 billion, according to the Brookings Institute.
I am a real sucker. Paid for two kids to go through college and then allowed my daughter to take her wedding allowance and elope....using it to pay off her new husband's college debt.
12 people like this.
Reply 2 - Posted by:
franq 8/27/2022 8:03:25 AM (No. 1260633)
This fiasco is quintessential Zhoa: illegal, poorly thought out, discriminatory, and expensive beyond calculation.
8 people like this.
Reply 3 - Posted by:
minuteman 8/27/2022 8:16:21 AM (No. 1260644)
Absolutely everything they do and say is designed to divide and destroy this nation.
19 people like this.
Reply 4 - Posted by:
seamusm 8/27/2022 8:20:35 AM (No. 1260646)
I borrowed $300,000 to put six kids (successfully) through college. I want my money back. Forget the interest - I'll be happy with just the $300K.
14 people like this.
Reply 5 - Posted by:
Californian 8/27/2022 8:23:33 AM (No. 1260652)
First the Biden folks need to figure out if most of those parents vote for the blue team. If so then they get "free" money, too.
8 people like this.
Reply 6 - Posted by:
NamVet70 8/27/2022 8:29:30 AM (No. 1260658)
I thought that college graduates were a minority of the population and that the graduates who still owe loan debt are an even smaller minority. These people are not the poor who need charity. These are people who have low unemployment and high earning potential, or they are extremely stupid non-stem graduates with worthless degrees. In either case they are not owed anything by the majority of the population. Now, that means the Democrat regime is happy to displease a majority of the population in order to reward the children of a small minority of their supporters. That sounds like a great idea, doesn't it?
10 people like this.
Reply 7 - Posted by:
Mcscow sailor 8/27/2022 8:45:25 AM (No. 1260673)
In the regime, freeloaders are HEROs. Straight from 1984!
10 people like this.
Reply 8 - Posted by:
athina 8/27/2022 8:59:07 AM (No. 1260688)
Lol - 3 of our 4 kids have already paid their loans off. WE are still in debt for the 80% we took on. Not blaming anybody else for for our financial decisions; we would never expect anybody to pay our debt — My comment is that it seems to me that this was Obama’s plan all along, to put the govt in the position to forgive these student loans so then it will lead to just paying for college tuition for everyone in the first place. Socialism 101. We’re just the last of the free and independent and responsible generation of Americans.
10 people like this.
Reply 9 - Posted by:
Grateful 8/27/2022 9:00:26 AM (No. 1260692)
Now we get to watch the parade of "what abouts" as the FJB ponzi scheme continues to unfold. Brandon continues to show the world that we have the dumbest among us leading as we march toward the cliffs.
6 people like this.
Reply 10 - Posted by:
MSUDoc 8/27/2022 9:06:48 AM (No. 1260698)
You can see these poor college students any time at any national park. They have their own cars, North Face clothes, the latest iPhone to take innumerable selfies, and lots of tattoos.
13 people like this.
Reply 11 - Posted by:
WhamDBambam 8/27/2022 9:07:03 AM (No. 1260699)
Funny that I haven't seen any reportage of the IRS tax consequences of forgiven loans. Funny, that.
9 people like this.
Reply 12 - Posted by:
Birddog 8/27/2022 9:17:48 AM (No. 1260707)
Soo...each student gets $10k, their parents get $10k...each perhaps? Potentially $30k? I guess that would only apply to parents that were/are married when they signed for the Parents Plus loans though,,,which would be....RACIST, Anti LGBT!
4 people like this.
Reply 13 - Posted by:
lakerman1 8/27/2022 9:20:54 AM (No. 1260710)
The Secretary of Education is as clueless as Dementia Jo
I have a relative who took out a second mortgage to pay for the gap between daughter's .
education costs at a Seven Sisters university (above and beyond the daughter's student loans)
and the total bill.
2 people like this.
Reply 14 - Posted by:
MDConservative 8/27/2022 9:35:37 AM (No. 1260736)
Oh, we're strongly opposed...where's the pay window for our cut? Same went with stimulus, PPP, and all that.
We're all socialists now.
5 people like this.
Reply 15 - Posted by:
LC Chihuahua 8/27/2022 9:39:55 AM (No. 1260742)
I did not get any loans. My parents did not get any loans. They were too poor and had no collateral. Poor people do not get loans unless they are in a preferred class and get preferential treatment. I got a few grants, but mostly I WORKED. I did five years of college over an eight year period. I lived at home with my parents. That's what families do. I graduated owing a total of $400. No loans. I was better for it.
As for the 300 billion (or 600 billion, depending on whom you ask), add it to the debt pile. Our government has no money. It will never be paid off. Just like the other 30 trillion on the federal debt pile. Just like the 90 trillion on the US debt pile. It's like rearranging the deck chairs on the Titanic. It does not matter. It will not end well regardless.
The time to fix the debt has passed. We are now dealing with the consequences. We already see it with inflation. It will get worse. Our country is run by tyrants, crooks, and incompetents. Our government is no longer looking out for the country and only looking out for itself, and the people controlling it. We have lost control of our government. They are adding to our problems, not fixing them.
11 people like this.
Reply 16 - Posted by:
bpl40 8/27/2022 10:04:49 AM (No. 1260774)
I came to this country as a penniless immigrant (legally). Graduate school was cheap by today's standards but not by that time's. One of the first things I did was an accelerated payoff of my student debt. it was perhaps and old world aversion to be indebted. My wife and two sons (now grown up and well placed) did exactly that. I know what is going on around me. But I don't think in the final analysis we were suckers.
7 people like this.
Reply 17 - Posted by:
Cousair 8/27/2022 10:07:46 AM (No. 1260777)
Only one segment of the population that should have debts forgiven that would be the military men and women that have left the Middle East with parts of their arms and legs forever left behind. Also include the ones that served honorably.
11 people like this.
Reply 18 - Posted by:
edgar 8/27/2022 11:16:38 AM (No. 1260830)
What about all of us that are strapped with car loans so that we can get to the job we have to be contributors to society? Joe despises Making America Great Again and wants to bring the country down.
5 people like this.
Reply 19 - Posted by:
Sully 8/27/2022 12:05:11 PM (No. 1260874)
More importantly, does it include Next Year's grads? How about the grads 4 years from now? Hey they have crazy loans too. How do you not give them the dough?
Is it not "unequal treatment" under the law to pay only Some people's debts? I know, I know, it is already unequal treatment. But I am referring to the "deserving class" that is left out!
3 people like this.
Reply 20 - Posted by:
sterling431 8/27/2022 3:22:10 PM (No. 1260978)
Just another reverse Robin Hood program where the working class pay for affluent children's college costs.
2 people like this.
Reply 21 - Posted by:
mifla 8/28/2022 5:50:21 AM (No. 1261311)
There is no plan, he just threw read meat to the sheeple.
0 people like this.
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Congrats to everyone who didn’t have college debt. Now you do. You're paying for those too lazy to. IT'S NOT DEBT FORGIVENESS, IT'S DEBT TRANSFERRED. It's your loan, you took it out you made the decision to take the loan. You pay it, not those who work hard to pay their own bills.