The Biden Administration is reportedly poised to cancel up to $10,000 in student loan debt for borrowers, and will extend the payment pause on federal loans until the end of the year.
According to the Washington Post, four people familiar with the matter said that borrowers making less than $125,000 per year, or $250,000 for married couples that file taxes jointly, would be eligible for the cancellation.
In addition, Pell Grant recipients will see up to $20,000 of their debt be cancelled.
The pandemic-era pause of federal student loan payments, which began during the Trump administration, will continue to be paused through December 31.
The student loan debt cancellation will affect roughly 43 million federal student loan borrowers, including 20 million who could have their debt completely cancelled, according to internal documents shared with the Washington Post.
Previous estimates have revealed that cancelling $10,000 in student loan debt per borrower could cost the government around $230 billion, though this estimate will now be higher considering the larger cancellation amount for Pell Grant recipien
The really incredible part is that they think this will help them in November.
THERE’S NO SUCH
THING AS
GOVERNMENT FUNDED
IT’S ALL
TAXPAYER FUNDED
How can this go unchallenged when only congress has the authority to cancel federal loans?
Spending starts in Congress to be legal.
Even some Dems are not on board with this.
It will not happen.
It is just to try to buy votes.
since you’re already pissed about having to pay student loans the blue haired gender studies dummies signed onto, James O’Keefe exposes the public school system #TheSecretCurriculum
https://twitter.com/bennyjohnson/status/1562242600857468928?cxt=HHwWgIC80cnXma4rAAAA
When they steal the midterm elections they’ll say this is one of the reasons.
“…extend payment ‘pause’ until December”
Just after the “elections”.
Imagine that.
Left Coast Dan
AUGUST 25, 2022 AT 7:22 AM
“The really incredible part is that they think this will help them in November.”
Yeah, that’s MY job!
*giggle!*
What happened to “Pay your Fair Share, Pay your Fair Share” Joe ??
Don’t let them steal the language, as this in not “forgiveness” but government assuming debt (socializing the debt) which then is to be paid by people who did not incur the debt and do not benefit from it.
What’s with this governing by fiat? As mentioned above, it is not an Executive Branch perogative, but a Congressional function, to make public expenditures. But as Low information voters said about Obama: “he’ll just give us money from his stash.”
Those young men & women who joined the Armed Forces for the benefits of the G.I. Bill must really feel like “suckers” now …
@Jarhead Cracka August 25, 2022 at 10:22 am
> Those young men & women who joined the Armed Forces for the benefits of the G.I. Bill must really feel like “suckers” now
Nobody’s threatening their stealers’ teat.
If it gets done…
https://townhall.com/tipsheet/katiepavlich/2022/08/26/new-penn-wharton-model-shows-the-true-and-insane-cost-of-bidens-loan-bailout-n2612293