WaEx:
The Biden administration is offering a new round of student loan debt relief for more than half a million borrowers who were students of Corinthian Colleges.
The action will see $5.8 billion in full loan discharges for 560,000 borrowers, marking the single largest loan discharge in the history of the Department of Education, and brings the total student debt relief extended by the administration to $25 billion.
Corinthian operated from 1995 to 2015. In 2013, then-California Attorney General Kamala Harris sued Corinthian before carrying out a full investigation, which found “comprehensive” wrongdoing carried out against students across the nation, including lying to prospective students about graduation and job placement rates.
Prior to Wednesday, the administration had extended loan debt relief to more than 1.3 million borrowers through the Public Service Loan Forgiveness program, borrower defense initiatives, permanent disability discharges, and other measures to help students defrauded by schools. The Department of Education confirmed Wednesday that every student who ever attended a Corinthian school was defrauded and that anyone with remaining federal loans is eligible for borrower defense. Roughly 100,000 Corinthian borrowers have been approved for borrower defense relief. more
The only way to get new voters besides mental illness and illegal access to America and free stuff.
Deadbeat Garbage Degreed Losers win.
Banks carrying their paper win.
Taxpayers get fucked in the ass.
Yep, democrats.
Why can’t he send me back pay for a college loan from 1965?
correct me if I’m wrong, but doesn’t the debt payment have to be considered as ‘income’ on their taxes?
(considering these deadbeats actually bother to file taxes)
How is this even legal???
It isn’t. Like they care.
How many were legitimate loans to begin with?
How many of the loans taken out by people who “actually” attended classes?
A Scam artist wonderland !
An agreement between a banking company and a student is my responsibility how?
Also why does it cost $5000 more for a bachelor degree than those of Asian or European decent?
That has to be racist
The loans weren’t cancelled, they were transferred from the people who borrowed and owe the money –> to people who didn’t borrow and don’t owe the money.
This is insanity.
The end result they are striving for is not more votes, but the ultimate destruction of the US dollar.
First they forced/stole the loans and federalize them, now they eliminate them. all part of the plan.
Our gov spending money like drunken sailors, only worse because it’s not the govs money.
What happened to “Pay Your Fair Share !” Joe ?? The people who took out the student loans don’t have to pay their “fair share” then ??? Don’t I feel like a sucker for joining the USMC instead of going to college …
20 years from now, if there is still a U.S., the dems will be scratching their collective heads, trying to figure out why so many students took out huge loans starting in 2022, and all defaulted on their loans.
I still think the loan forgiveness program will have some kind of racial/ethnic/religious/gender component, that will exclude white, Christian, straight, males.
Remember those guys in college who used their student loans to go bar hopping, spring break at Cabo, frat parties, new cars? Yeah, those guys. We get to pay their bar tab.
So, over the last year and a half of Dem actions, what would you do differently if you wanted to destroy the country but try to look like you weren’t?
When are they going to make the colleges pay back the fees for selling a fake product?
The idiocy of easy-to-get gov backed loans inflates college fees.
Do we really need to explain why that is? If so, you’re not smart enough to go to college in the first place.
So what happens when Americans quit paying their taxes after claiming numerous deductions throughout the year?
It’s coming!
@andoneinthechamber June 2, 2022 at 2:37 pm
> An agreement between a banking company and a student is my responsibility how?
You didn’t leave the bodies of the households of your “legitimate” rulers in the gutter. When they intervened “in your name”.
The vast majority of student loans went to these fly-by-night operations — and community colleges (which have been taken over by the woke, a takeover funded by billions in stimulus money) — none of which would have been viable without the federal guarantees and then the federalization of student loans. Banks were not going to approve loans for these institutions… until the feds guaranteed them.
My brother taught for ITT Tech for about twenty years. He felt a bit dirty at first, but they had very good placement because they graduated students with the skills employers were looking for. It was ridiculously expensive but the students were willing to take the chance because there was a realistic likelihood they were going to be able to pay off their debt — quickly (many of his students were making more than he was in their first year of employment). The Obama administration specifically targeted ITT Tech and effectively killed the company, leaving tens of thousands of students holding massive debt without a degree. Not accepting their role in creating and then exacerbating ITT Tech’s financial woes, Obama’s third term finally forgave these students’ loans last year.
This is a scam the Dems setup decades ago when they decided to guarantee student loans. It intensified when Obama took over student loans and began eliminating valid competition for those funds.
Forgiving student loans is simply another salvo in the hostile application of common core to higher ed (necessitated by common core drones “graduating” from public ed, the vanguard now filling professorships and administrative positions).