ive never said this before, but maybe ur kids are better off as orphans.

If life threw them a wrench they might have been able to fix their car and finish school.

I guess some of the young progressives who voted for Biden seriously thought he would waive all student loan debt, or at least suspend it indefinitely.
That's like a Trump voter in 2016/17 genuinely expecting 20 million manufacturing jobs to come back.

This post was edited by Black XistenZ on Dec 14 2021 12:50pm

Nobody was expecting full forgiveness. The best I thought wed get is maybe lile a 10k forgiveness. 50k if his dementia really kicked in.

Shitty thing is he could do it immediately. Its purely on him that hes done nothing. Shitty liberal still thinks the process works.

Sorry if I'm clueless here, but could he really do that? That would cost the federal government billions of dollars, so they'd have to come from somewhere. Would it really be that easy for Biden to find this much money without infringing on the budget authority of Congress?

He could suspend payments and interest indefinitely and it would be up to the next administration to remove it, which would be very difficult to do without a massive backlash.

A full legal forgiveness would require congress (I think. I also believe he could forgive some amount? Idk. It's complicated)

At minimum what he should do is suspend profit from student loans. The government gets tens of billions of dollars every year in profit from student loans. At minimum that should be forgiven. That would be pretty easy to do. It's ridiculous that student loans are a net positive for the government. It's just an extra tax on people to educate themselves.

This post was edited by NetflixAdaptationWidow on Dec 14 2021 01:04pm

Wait a second, which percentage of the overall student loans is held by the government vs private creditors? I always thought that most of the student debt is held by private banks, not the government?

It's a weird and stupid system.

Private banks administer the loans and the government guarantees them. That's why you can get a low interest rate on student loans which are unsecured debt. The government still takes some fee for it and banks make a profit on what is essentially a zero risk loan.

he leases a truck, ask him what his expenses are. or he has made it to the level of real owner op

https://www.whitehouse.gov/briefing-room/speeches-remarks/2021/12/16/remarks-by-president-biden-after-meeting-with-members-of-the-covid-19-response-team/

what a nice message from the president