Student loans and mortgages have proven to be financial swindles and legal forms of servitude to the average worker.
For anyone who got 2 percent fixed rates during Covid. Hats off to you. Do not ever let the banks trick you into refinancing ever again. You have an ace up your sleeve. Keep it.
Tell that to SCOTUS who already said no, Biden is doing what he can with loopholes
That would be bad policy though. Biden’s plan is fine enough
While I do believe the law allows the president and his administration to cancel basically any and all student debt, the crooked SCOTUS doesn’t agree which raises an issue.
Biden’s options are basically:
* Ignore SCOTUS and do it anyway.
* Push for SCOTUS reform and do it later.
* Do it piecewise and hope SCOTUS doesn’t step in.
So I assume you support efforts to cancel student debt? Thank you.
Appreciate the sentiment but that’s literally not how anything works. All student debt is not the same.
* All FEDERAL student loans. If you consolidated with a private lender, your loans will not be forgiven.
It’s amazing how people who have a lot of qualifications on paper can still spout some blatantly ignorant takes.
Maybe the strategy is to chip away at it instead because it’s a safer and more easily digestible approach to the opposition. It’s just a guess through.
When they say cancel all student debt, what about people who started with these predatory loans, like sallie Mae & navient, and consolidated their loans with another lender?
Every other developed nation offers some form of free higher education. But then…they also offer health care…wooo! USA #1!
Republicans won’t allow it
No, he can’t because conservatives will fight anything they see as extreme in court and probably win.
Well, see, no he can’t. And saying this shit makes it that much harder for him to do anything at all.
What a silly opinion piece. I’m glad it was written by someone I’ve never heard of before and who I won’t ever seek out in the future.
The idea that if you can manage to do something, then you should be able to do it all is juvenile and worse yet, nullifies all the good that has been accomplished. Further it makes it unlikely that anything more can be done.
Sadly, I think a lot of people will buy into this way of thinking and will make the wrong choice on Election Day.
Biden cancelled the bulk of student debt for moderate income borrowers by dramatically lowering the minimum payments and preventing the balance from growing if minimum payments are made, and declaring it non longer due after a certain number of years.
How about changing other things so people won’t need so many student loans?
Biden can’t just arbitrarily cancel student debt, and certainly not all of it. The government can only “waive” federally secured loans. Privately secured loans are off limits.
He can certainly try to make a push for subsidizing or fundraise for the purchase of large swaths of publicly held debt and then put it on our books with much contestation, but semantically its still not “cancelled” debt.
I will never understand this narrative being pushed that people think you can just magically waive a hand and erase all student loan debt. Its just so ignorant of how the financial system operates, and equally ignorant to the powers of the President.
Ok, I gotta say, while I am in general totally in favor of student debt relief, and making college free/affordable for all, I am beyond tired of people bitching about Biden “Not doing enuf!”. He’s already done vastly more than he promised before the election, and has been blocked by the supreme court. The people disingenuously bitching about Biden on this issue just want to attack Biden, they don’t give a shit about actual student loan relief.
Yes, and if you can jump, you can also fly.
Who comes up with these stupid headlines?
They can cancel my mortgage and car loan too. I just don’t want to pay my debts any more.
I would just be happy if he canceled the interest or brought it down to 1%.
My wife and I will be paying her loans off until we die or win the lottery lol.
Private loans are insane and have been upping repayment minimums to be as much as our rent.
Fuck this stupid country and the way it handles education and healthcare.
Why just student debt? That’s discriminatory to pick one type of debt over another. Medical debt is more important and expensive than student debt and should be given priority
A bigger feat would be to fix the system so student debt is no longer created.
Reduce or remove student loans. This is why I voted for Biden! If he doesn’t get it done this term I will be forced to vote for him again
I mean no he can’t the Supreme Court has already said he can’t.
Why isn’t the headline “Oh my gosh thank you President Biden for trying to cancel student loans, we so appreciate everything you are trying to do even after the Supreme Court’s decision that made it so much harder!!!”
Instead it is some version of “he hasn’t cancelled every dollar of student loans for every human on the planet instantly therefore he is not doing good enough, he is hurting you, and his plans are a failure.”
Just stop with this crap. Same for the jobs report. Stop trying to make everything he does seem bad.
28 comments
Student loans and mortgages have proven to be financial swindles and legal forms of servitude to the average worker.
For anyone who got 2 percent fixed rates during Covid. Hats off to you. Do not ever let the banks trick you into refinancing ever again. You have an ace up your sleeve. Keep it.
Tell that to SCOTUS who already said no, Biden is doing what he can with loopholes
That would be bad policy though. Biden’s plan is fine enough
While I do believe the law allows the president and his administration to cancel basically any and all student debt, the crooked SCOTUS doesn’t agree which raises an issue.
Biden’s options are basically:
* Ignore SCOTUS and do it anyway.
* Push for SCOTUS reform and do it later.
* Do it piecewise and hope SCOTUS doesn’t step in.
So I assume you support efforts to cancel student debt? Thank you.
Appreciate the sentiment but that’s literally not how anything works. All student debt is not the same.
* All FEDERAL student loans. If you consolidated with a private lender, your loans will not be forgiven.
It’s amazing how people who have a lot of qualifications on paper can still spout some blatantly ignorant takes.
Maybe the strategy is to chip away at it instead because it’s a safer and more easily digestible approach to the opposition. It’s just a guess through.
When they say cancel all student debt, what about people who started with these predatory loans, like sallie Mae & navient, and consolidated their loans with another lender?
Every other developed nation offers some form of free higher education. But then…they also offer health care…wooo! USA #1!
Republicans won’t allow it
No, he can’t because conservatives will fight anything they see as extreme in court and probably win.
Well, see, no he can’t. And saying this shit makes it that much harder for him to do anything at all.
What a silly opinion piece. I’m glad it was written by someone I’ve never heard of before and who I won’t ever seek out in the future.
The idea that if you can manage to do something, then you should be able to do it all is juvenile and worse yet, nullifies all the good that has been accomplished. Further it makes it unlikely that anything more can be done.
Sadly, I think a lot of people will buy into this way of thinking and will make the wrong choice on Election Day.
Biden cancelled the bulk of student debt for moderate income borrowers by dramatically lowering the minimum payments and preventing the balance from growing if minimum payments are made, and declaring it non longer due after a certain number of years.
https://www.whitehouse.gov/briefing-room/statements-releases/2023/08/22/fact-sheet-the-biden-harris-administration-launches-the-save-plan-the-most-affordable-student-loan-repayment-plan-ever-to-lower-monthly-payments-for-millions-of-borrowers/
How about changing other things so people won’t need so many student loans?
Biden can’t just arbitrarily cancel student debt, and certainly not all of it. The government can only “waive” federally secured loans. Privately secured loans are off limits.
He can certainly try to make a push for subsidizing or fundraise for the purchase of large swaths of publicly held debt and then put it on our books with much contestation, but semantically its still not “cancelled” debt.
I will never understand this narrative being pushed that people think you can just magically waive a hand and erase all student loan debt. Its just so ignorant of how the financial system operates, and equally ignorant to the powers of the President.
Ok, I gotta say, while I am in general totally in favor of student debt relief, and making college free/affordable for all, I am beyond tired of people bitching about Biden “Not doing enuf!”. He’s already done vastly more than he promised before the election, and has been blocked by the supreme court. The people disingenuously bitching about Biden on this issue just want to attack Biden, they don’t give a shit about actual student loan relief.
Yes, and if you can jump, you can also fly.
Who comes up with these stupid headlines?
They can cancel my mortgage and car loan too. I just don’t want to pay my debts any more.
I would just be happy if he canceled the interest or brought it down to 1%.
My wife and I will be paying her loans off until we die or win the lottery lol.
Private loans are insane and have been upping repayment minimums to be as much as our rent.
Fuck this stupid country and the way it handles education and healthcare.
Why just student debt? That’s discriminatory to pick one type of debt over another. Medical debt is more important and expensive than student debt and should be given priority
A bigger feat would be to fix the system so student debt is no longer created.
Reduce or remove student loans. This is why I voted for Biden! If he doesn’t get it done this term I will be forced to vote for him again
I mean no he can’t the Supreme Court has already said he can’t.
Why isn’t the headline “Oh my gosh thank you President Biden for trying to cancel student loans, we so appreciate everything you are trying to do even after the Supreme Court’s decision that made it so much harder!!!”
Instead it is some version of “he hasn’t cancelled every dollar of student loans for every human on the planet instantly therefore he is not doing good enough, he is hurting you, and his plans are a failure.”
Just stop with this crap. Same for the jobs report. Stop trying to make everything he does seem bad.