https://www.yahoo.com/news/biden-announces-student-loan-debt-forgiveness-153845682.html

great to see a president who's finally able to follow through on idiotic ideas of the campaign platform.

Getting 10K of my student loans forgiven is 10/10. Thanks, Biden!

food service pottery majors across the nation can finally start picking up POTENTIAL SPAM calls again!

news is very fresh, waiting on a tax expert to weigh in on any potential issues in the program before we take the "free" 20k.

Thanks for paying off my debt guys, I appreciate it.
Sincerely.

Update: it appears floods of traffic based on this news to lender sites such as Neltnet and GreatLakes have caused crashes LOL.

people seem to be going there expecting their balance to just be reduced haha. there will be an application people will need to fill out, the Biden announcement is just preliminary bullet point updates to the last announcement.

another update, for pel grant recipients such as myself (poor people) there is an additional 10k relief. so up to 30k for my household because my wife never came home to the power being off.

This post was edited by thesnipa on Aug 24 2022 11:38am

I remember my freshman year. Using my government subsidized loans to buy 35 dollar shroom 8ths and mdma a few times a week. Good times. It's great that dumb fuck trades guy who works 60 hour weeks will be picking up the bill for that. This is what progress looks like. Best president ever.

I went there to check my balance to see if it would cover it.
It does. I haven't checked it in awhile as I just make auto payments and was prepared for the long haul.
I was fully prepared and able to pay my loans, but if everyone else is picking up my tab. So be it.

This post was edited by lolkggz on Aug 24 2022 11:44am

Disastrous approval ratings and upcoming midterms

That's all

I'm not a fan of this but I understand throwing a bone to your constituency. I wonder how the Biden administration will screw up the messaging on this to cause his constituents to be disappointed with the news.

Sounds like you were very irresponsible with your money!

I agree that it's great that dumb fuck trade guys who work 60 hour weeks will help foot the bill for this. Being a dumb fuck trade guy shouldn't be encouraged at all in this country and we should do what we can to make their life as hard as possible. IMO, that IS progress.

Personally hate this.

It's unfair to those who just made too much money (especially if they just got there) or did one-time things like 401k to roth conversions.
It's unfair to those who struggled for decades, lived in shitty places and just paid off their loans.
It's unfair to those who got federal loans that was then sold to private companies so your loans no longer qualify.

It's unfair for those who have been paying student loan debt at 7-9% interest rate while those in other years have had a 5-6% interest rate.

It's unfair for those kids still in college or just graduated who suddenly get 10k-20k forgive and didn't deal with anything at all.

Quite honestly. I would have loved to see the interest rate set to 1%-2% or whatever the lowest amount is required to run the program. The Federal Government should not be making money off individuals just trying to better themselves when that money is JUST going to come back to them in federal income taxes anyway.