American Thinker:
By Monica Showalter
As President Obama used to say of his clownish vice president: “Don’t underestimate Joe’s ability to f*** things up.“
Which brings us to Joe Biden’s student loan debt forgiveness rollout, announced this week. Let’s set aside the issue of the legality of the matter. The actual execution of the matter is Joe in Action.
According to Axios:
The implementation of President Biden’s widespread, income-targeted student loan forgiveness is shaping up to be a bureaucratic challenge for the Department of Education.
Why it matters: Millions of Americans are in limbo waiting for information on how to take action on student debt relief — the success of which relies largely on an agency juggling unprecedented changes, on top of other reforms.
- The agency doesn’t have income data for most of the 43 million Americans eligible for forgiveness, meaning around 35 million people — including Pell Grant recipients — will have to attest that they makes less than $125,000 per year and apply for relief.
What we’re watching: StudentAid.gov, the government’s financial aid website, experienced significant delays Wednesday and Thursday after it was inundated with people seeking information on loan forgiveness.
- The White House doesn’t know exactly how many eligible borrowers will actually end up applying for loan forgiveness — or how much it will cost.
- The Education Department hasn’t yet released the website where people can apply for loan forgiveness by attesting that they meet the income requirement — and it’s still unclear when that will be released, a person familiar with the matter tells Axios.
More importantly: When will borrowers actually see the relief? more here
Yep,
My pocket is only so big after all…
These people are fools. Nothing is free, they will pay for it in the long run. 70 to 80% tax rates except for politicians and the rich.
LOL – Biden buying votes from the naive at $10,000 a pop.
Just making sure your Great Great Great Great Grandkids, start life in debt to the self appointed royalty.
Just like the PPP and all other stupid ass free money programs coming out of DC, ALL of the funds issued will go first to the connected few who absolutely do not need it. Everyone else will get the usual… jack… fuckin’… shit.
We think they missed the first part “up to $10,000”.
Up next: Student loan default when people stop making their payments because “relief is on the way”. Democrats are the stupidest people on the planet, but give them credit for audacity; buying votes with taxpayer money.
Then there is this little nugget:
“The Education Department hasn’t yet released the website where people can apply for loan forgiveness by attesting that they meet the income requirement …”. So just declare on the form that you meet the income requirements. Like no one would cheat. Hey geniuses, how about submit your 1040 with the application, you know, like proof.
When I was 18 I bought my first new vehicle, a motorcycle. After having it for 4 months I became unemployed. Was able to get another job but for much less than my previous job. I ended up having to sell my bike while making up the difference from what I sold it for and what I still owed the bank because I, as the borrower, was contractually responsible for paying off that debt. I want my bike back.
And in the next 18-24 months we’ll get headlines about all the fraud that occurred with this BS.
I’m just going to stop the auto-pay for the college loans for my 4 kids. I’ll let the loaners know that if they want their money just send the bill to the DNC.
Typical Demoncraps:
“I’ll gladly pay you Tuesday for a hamburger today” Wimpy logic…
So, you’re going to pay for an immediate $300B cost by “saving” $100B over the next 10 years?!
Gonna need more IRS agents…damn Revenuers going after mah still again…
Forgiving debt for people (single) making up to $125.000.
Salt in the wound. I don’t know anybody that brings that much home in a year unless they’re a lawyer, doctor or POLITICIAN!
We just paid first semester for my son as a freshman. I told my wife no more, it doesn’t make any sense. Take federal loans for everything going forward. Then delay payback of loans for as long as possible, wait around for a bailout. It seems the irresponsible make out while those of us who pay for things get stiffed. It happened during the financial crisis, covid, and now education. It’s not going to stop regardless who is in charge, this is not unique to Joetard.
The result of $10k handouts, well the universities will raise their tuition at least $10k, of course. Making it even more difficult for people that actually pay. But more importantly, this move will set precedent and there will never be meaningful reform. New borrowers are going to expect $10k upfront. For now, until it expands to $50k and above, all the way to state run and paid for education, true in your face indoctrination centers.
Inflation is so bad now that votes cost $10,000 each.
watch how fake this will be. They will tease and tease, but like so many of these “Programs” few will ever benefit.
Democracy at work.
I somehow think that all the “applicants” believe they’ll be getting $10,000 from the guv. They’ll be out spending all that free money on their credit cards until the check get there…..
Wait till next April when they’ll have to declare it as income on their tax returns.
Seize the university endowment hedge funds. They have the funds you don’t want the “taxpayer” forgiving.