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Biden cancels even MORE student debt:
Up to 6.9 million Americans in SAVE plan
who received less than $12,000 will have
their loans wiped if they have been paying
for 10 years

Original Article

Posted By: Imright, 1/12/2024 1:14:39 PM

President Joe Biden announced on Friday that federal student loans will be wiped out for borrowers who received less than $12,000 and have been in repayment for the past decade. Starting in February federal loan borrowers 'who took out less than $12,000 in loans and have been in repayment for 10 years will get their remaining student debt cancelled immediately,' Biden said in a statement. The plan was originally set to begin in July but is going into effect six months earlier. applies to borrowers enrolled in the new income-driven repayment plan known as Saving on a Valuable Education plan (SAVE).

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Reply 1 - Posted by: Northcross 1/12/2024 1:24:21 PM (No. 1634799)
Biden is so generous.... with our money!
14 people like this.

Reply 2 - Posted by: edgar 1/12/2024 1:27:06 PM (No. 1634804)
Democrats are killing the Makers and buying the Takers with more free stuff.
13 people like this.

Reply 3 - Posted by: Phantomll 1/12/2024 1:32:27 PM (No. 1634807)
I thought that the Supremes ruled that he can't do that. Meanwhile, where is Congress?
24 people like this.

Reply 4 - Posted by: Bur Oak 1/12/2024 1:47:59 PM (No. 1634817)
It is a shame he can't cancel the national debt. Wait a minute, he's the one ballooning the national debt.
10 people like this.

Reply 5 - Posted by: JoElla Bee 1/12/2024 2:09:13 PM (No. 1634829)
Sitting here remembering the struggle of my husband and I paying off my student loan as a young married couple, and the thankfulness of having the wherewithal to pay for the expenses of higher learning for our child years later. We would never have expected other families to sacrifice financially to pay our debts. This administration seemingly looks for ways to unfairly burden those who try to do right, at the expense of those who choose to do wrong - even to the point of calling right wrong and wrong right and beyond. I guess they never read the story of the goose that laid the golden eggs. Perhaps it offended someone.
16 people like this.

Reply 6 - Posted by: skacmar 1/12/2024 2:11:13 PM (No. 1634833)
Biden is not cancelling any debt. He is transferring it to others. While he claims that it will help those burdened with student loan debt, he neglects to mention that the bill is just passed on to those burdened with paying additional taxes to pay off these people's debt. They knew they were taking out student loans and that they would have to pay them back. Cry me a river that YOUR decision to take out loans is preventing you from living the carefree life you always envisioned. Now, thanks to Joe Biden, you get you care free life while my tax burden increases so I get to pay for your poor life decisions.
16 people like this.

Reply 7 - Posted by: stablemoney 1/12/2024 2:12:27 PM (No. 1634834)
This is totally disgusting. Students that have chosen to pay the inflated tuitions of leftist schools with loans are getting a free ride, while those that thought they had to earn the money to pay for their education at more reasonably priced state institutions are getting the bill for it.
14 people like this.

Reply 8 - Posted by: Mizz Fixxit 1/12/2024 2:48:53 PM (No. 1634846)
FTA —- Starting in February federal loan borrowers who took out less than $12,000 in loans and have been in repayment for 10 years will get their remaining student debt cancelled immediately,' Biden said in a statement. According to a online loan calculator, a $12,000 loan at 5.5 percent interest would be paid in full in ten years with monthly payments of $130.23. A $130.23 monthly payment is more than reasonable. Why do such loans not have a maximum repayment term of 10 years? This is a rhetorical question, for the answer is, the government is irresponsible and many of these borrowers are deadbeats.
9 people like this.

Reply 9 - Posted by: cor-vet 1/12/2024 3:22:29 PM (No. 1634865)
So democrats are upset that Bribem started hostilities without congressional approval, against the constitution, but he can spend money willy-nilly without congressional input and they're OK with that?
12 people like this.

Reply 10 - Posted by: Son of Grady 1/12/2024 4:15:29 PM (No. 1634878)
So to save democracy we have to live under the rules of one dictator.
5 people like this.

Reply 11 - Posted by: cold porridge 1/13/2024 3:59:48 PM (No. 1635533)
I graduated from college 50 years ago, but I worked after classes remodeling houses and worked summers on road construction. I paid my own way. Maybe I should sue the government for what it cost me with interest for all those 50 years.
2 people like this.

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