Biden bails out 74K student loan borrowers
with $5B in canceled debt
Fox Business News,
by
Chris Pandolfo
Original Article
Posted By: Dreadnought,
1/19/2024 1:08:43 PM
The Biden administration has approved an additional $5 billion in debt cancelation for roughly 74,000 student loan borrowers, the White House said in a statement Friday.
President Biden said many of the borrowers impacted by his latest student loan debt handout are public sector workers, like teachers and firefighters, who will have their debt erased after 10 years of public service. Nearly 30,000 borrowers impacted have been in repayment for at least 20 years "but never got the relief they earned through income-driven repayment plans," Biden said.
The latest round of student debt cancelation brings the total amount canceled under Biden to $136.6 billion for more than 3.7 million Americans,
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A shameless attempt to buy votes.
47 people like this.
Reply 2 - Posted by:
Scout Finch 1/19/2024 1:18:40 PM (No. 1639920)
How is this legal and/or constitutional? Unless the Uniparty has agreed on this too.
66 people like this.
Reply 3 - Posted by:
Strike3 1/19/2024 1:19:38 PM (No. 1639921)
Supporting deadbeats with our money in order to buy votes for himself, what a guy. FJB
56 people like this.
Reply 4 - Posted by:
franq 1/19/2024 1:24:03 PM (No. 1639925)
Tell me again, who's the dictator?
50 people like this.
Reply 5 - Posted by:
DVC 1/19/2024 1:25:11 PM (No. 1639928)
Illegal. Require them to pay what they owe!!
47 people like this.
And what about those of us who paid off our student loans on time? Do we get a rebate? And if not, then why?
42 people like this.
Reply 7 - Posted by:
edgar 1/19/2024 1:31:12 PM (No. 1639934)
#2 I thought the courts already struck down his previous attempts to do this. Financial decisions must begin with The House of Representatives. With this, more and more losers will not pay unforgiven debt.
46 people like this.
Reply 8 - Posted by:
Starboard_side 1/19/2024 1:57:00 PM (No. 1639968)
Notice the targeted group getting the benefit? All government workers who will feel obligated to vote Democrat in 2024.
#2, it's not but who is going to be able to do anything about it?
When did the student loan program switch to something more resembling a credit card bill?
Unless you are a doctor or something where you took out hundreds of thousands of dollars for school, how is it taking anyone 20+ years to pay off the loan?
When did they change the terms?
I remember my loan(s) were more like a car loan where you made a payment each month and you were one month closer to paying it off (which I did two separate times).
Lastly, will loan forgiveness be considered income by the IRS?
26 people like this.
Reply 9 - Posted by:
wilarrbie 1/19/2024 2:06:13 PM (No. 1639981)
Is that it now? We get everybody, we done now? Maybe they have car payments, need a lil more help on?
15 people like this.
Reply 10 - Posted by:
bighambone 1/19/2024 2:06:37 PM (No. 1639982)
Next will probably be all Registered Nurses. Which will most likely be a good thing!
8 people like this.
Reply 11 - Posted by:
snowoutlaw 1/19/2024 4:58:40 PM (No. 1640108)
The Bidens' never pay back "loans" so this seems perfectly normal to Joe.
14 people like this.
Reply 12 - Posted by:
sunshinehorses 1/19/2024 5:30:58 PM (No. 1640136)
Some of this is actually to FIX what is screwedup. Many did the public service and never had their debt erased like it should have been. Many followed the rules and paid on income contingent plans for 20 years and never had their payments properly recorded and the balance erased like it should have been. I know because I was one of those that fought for YEARS to get my student loan payments properly recorded.
8 people like this.
Reply 13 - Posted by:
JimBob 1/19/2024 10:20:29 PM (No. 1640255)
Sounds to me like The HairSniffer TRANSFERRED "an additional $5 billion in debt" to us working shlub Taxpayers!
13 people like this.
Reply 14 - Posted by:
RussZilla 1/20/2024 6:41:57 AM (No. 1640360)
What do we want? Mortgage Loan Forgiveness.
When do we want it? Now.
End ALL debt slavery! It’s called usury and it’s a sin the Bible condemns.
10 people like this.
Reply 15 - Posted by:
Rumblehog 1/20/2024 8:10:04 AM (No. 1640403)
I thought this was ruled un-Constitutional a year ago?
17 people like this.
Reply 16 - Posted by:
Msquared112 1/20/2024 8:48:13 AM (No. 1640432)
Wasn't it established that he couldn't do this?
11 people like this.
Reply 17 - Posted by:
Hazymac 1/20/2024 10:15:16 AM (No. 1640511)
The SCOTUS has already struck down this power grab. What do we do now, now that Brandon is flouting the law?
9 people like this.
Reply 18 - Posted by:
Kate318 1/20/2024 10:56:20 AM (No. 1640567)
That’s $5 billion that we are paying for degrees in Basket Weaving and Transgender Studies.
9 people like this.
Reply 19 - Posted by:
Zigrid 1/20/2024 11:11:24 AM (No. 1640591)
It's called buying votes in a desperate attempt to shore up his sagging poll numbers....WE are very familiar with this...WE from Chicago have had a similar problem with buying votes from the rev.jackson rainbow coalition...he's done it for years....BUT... his city plantation workers are p____d now and I'm thinking it's not going to be so easy this election....the only way the rats can stop US is by faking another covid strike and forcing US into our homes with the planned martial law edict....they are desperate and nothing surprises me....
6 people like this.
Reply 20 - Posted by:
Firebase 1/20/2024 11:32:44 AM (No. 1640618)
This has been the plan all along, beginning with saintly Obama taking over the student loan program in 2010, pretending to be the higher conscience, "doing away with the middle man" and looking out for those kids! Ha ha ha. If Biden is going to ignore the ruling of the Supreme Court, there is no limit to what he is willing to do to buy votes, actions to take to stay in office. This is a communist coup, imho and they are being aided and abetted by one or more communist, muslim, enemies of the United States. Everything they do, say, sign into law, or laws they ignore is intended to give them permanent, authoritarian, one party rule.
https://abcnews.go.com/WN/Politics/health-care-obama-signs-student-loan-overhaul-legislation/story?id=10239569
3 people like this.
Reply 21 - Posted by:
ThreeBadCats3 1/20/2024 11:47:25 AM (No. 1640630)
He is so generous with someone else’s money. Takes me back to the years of waiting on table, carrying boxes for the moving company, Army Basic Training, pushing buttons at IBM, signing loan papers and eventually, after about 30 years, paying all of them off.
7 people like this.
Reply 22 - Posted by:
cold porridge 1/20/2024 12:40:54 PM (No. 1640663)
Remember when the democrats said we couldn't afford $5B for a border wall? I hate the left more every day.
9 people like this.
Reply 23 - Posted by:
Lawsy0 1/20/2024 6:30:27 PM (No. 1640825)
How nice. Did any of them send him a Thank You note?
0 people like this.
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