Biden may start forgiving student debt in October
Biden may start forgiving student debt in October
President Joe Biden may try to forgive student debt again as early as next month, in a sweeping redo effort that could impact tens of millions of Americans.
Start?
He forgave a little over $150 billion so far
132Mainly through fixes to long-troubled loan relief initiatives, the Biden administration has now approved nearly $169 billion in loan forgiveness for roughly 4.8 million people.
Its new plan is expected to reach at least 25 million more people.
72Most of his reform so far has focused more on making the current paths that existed more obtainable, ex: public service loan forgiveness. So he has made student loan forgiveness where you meet specific qualifications much better, which is very helpful, but not everyone qualifies.
Blanket student loan forgiveness hasn't happened, because it was successfully blocked by the Republicans (after like 4 attempts). I assume this is referring to blanket forgiveness.
Could be wrong on all this, if anyone spots something incorrect just say it.
41
Heard that before.
21He's been trying and the courts have been blocking it.
7
Freedom!!!!
10I’ll vote for the D if you get mine forgiven.
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https://www.cnbc.com/2024/09/03/biden-may-start-forgiving-student-debt-next-month-.html
-9Why wait?
-22He started forgiving student loan debt in August of 2022. The Republican Supreme Court keeps blocking him.
47The vast majority of that should have been forgiven years or decades ago under existing programs...
It's just they put loan servicers in charge of the loan forgiveness programs, so they were intentionally understaffed and prone to errors.
When people hold up dollar amounts like Biden is doing a lot, that number is inflated by fraudulent interest Biden is just paying with our tax money.
Is it better than him ignoring the problem like Obama and trump? Sure.
But he's literally doing the bare minimum of enforcing programs that have existed for decades, and drastically overpaying meaning for the same dollar amount, more people should be getting loan forgiveness.
It sounds great if you only read headlines tho...
The Republican Supreme Court keeps blocking him.
And if Hillary's primary campaign hadn't taken over the DNC, we'd be coming out of Bernie's second term with the most progressive SC in history.
Making excuses for Biden always just ends up arguing against moderate politicians like Biden. It's their fault we're in this shitty situation to begin with
-23
His most recent plan was blocked by Republicans in court this month. He has a new direction to try in Oct.
32Thanks for this actual useful answer
5
Bureaucracy takes time, unfortunately.
If they can take lessons learned and come up with a new package that even the current Supreme Court can't strike down with that extra time, so much the better. (Sadly, I suspect that the current SC will just throw out jurisprudence entirely and give unsound decision after unsound decision to stop this, but if there's a one in a million chance that they can find a line that even the current SC wouldn't cross to stop this...)
14
Hes going to wait until just before the election so it's fresh in the goldfish memory of America
-55You obviously haven't been paying any attention.
70Nah, they're just proving their own point. They have goldfish memory and can't remember far enough back to recall the prior loan forgiveness efforts.
54Demonstrating a goldfish memory by acting like one… “behold how ignorant I am!”
18