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Explaining Biden’s student loan forgiveness policy

   September 4, 2022  45 Comments on Explaining Biden’s student loan forgiveness policy

The president will cancel student loan debt for many and extend the due date for others.

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45 thoughts on “Explaining Biden’s student loan forgiveness policy”

  1. It should have added whether or not those who enter School in 2022 will qualify for the loan forgiveness. It's a nice gesture but I think he should have at least had it for those that deal with Pell Grant should have took a minimum of $40,000 off 🤔🤦🏻‍♀️💯‼️📺📽️ and those that were nonpell Grant holders a minimum of $30,000 off.🙆🏻‍♀️🧐 Remove all interest rate so that interest cannot be occurring remove that. Extended one last time through December of 2023. Pandemic numbers are still going up in many states and have not went completely away which is holding up a lot of people in certain occupations that they have taken up.

  2. Why should I have to pay these rich f——‘a student loans. Pay all the loans from speedy cash and other mafia loans where you pay 200% interest instead of a measly 5%!

  7. This is like the stimulus checks. When you file taxes the IRS won’t allow you to get a tax benefit because they put it towards your income. Watch out students! You’ll be paying it back for many years.

  8. Another Biden vote buying scheme. $10k-20k will buy the loyalty of the young impressionable Amercan students who will someday thank sleepy Joe by voting democrat? How much is he giving every illegal being distibuted around the country? Nobody knows and the propaganda media wont investigate that will they? Upwards of 4.9million illegals in the last 18 months? Treasonous

  10. this is not forgiveness – it passes the debt onto those paying taxes – they will pay additional taxes including YOURS for years to come. I fear this is just to gain votes, but will not pass. Please vote according to your best judgement and not on only this – cause it may be illegal and not pass.

  11. REPUBLICANS STUDENTS ALSO NEED DEBT RELIEF!! How out of touch are these elitist republicans who would LEAVE THEIR OWN CONSTITUENTS in the dust~~ ! Republicans took out student loans, has to quit to find fulltime work, and could not finish and could not pay back the loans. THIS HELPS PEOPLE WHO DID NOT VOTE FOR BIDEN TOO!

  12. Im past 70. When I was a kid the banks would not loan money on bare unimproved land here. So land sold for about $50 per acre. Then in 1969 the goverment began guarnteeing land loans up to $300 per acre. And land prices jumped to $300 per acre. And whatever item the goverment started guarnteeing the loans the prices inflated. The problem was a importaint criteria was no longer considered inportianton the gov guarnteed loan applications. That criteria was the credit worthiness of the Borrower,. So here we are a lot of folks just not students have got deeper in debt than they thought was humanly possible. And they should not ever been loaned more than it was logical that they could pay the debt. So you fail to pay a debt on tangible assets. Forclosure and you lose the assett. I think if you accept student loan forgiveness you should not get to keep the degree. To do otherwise is to Reward failure. And punish Those who did pay for their degrees.

  13. Student loan forgiveness is slap in the face for all the folks sacrifice to pay off their loan. Biden manage to screw up again by trying to be votes.

  14. It's just a policy that has not and hopefully never gets passed. This is what they come up with? They are bombing 3 different countries and aiding in a few genocides, i guess the admin has their hands full.

  15. It's just a policy that has not and hopefully never gets passed. This is what they come up with? They are bombing 3 different countries and aiding in a few genocides, i guess the admin has their hands full.

  16. There's not a snowball's chance in hell I'm going to feel guilty about getting a reduction in my student loan debt, when this nation squanders away billions of dollars a day like a teenager with a Platinum Amex. I've sacrificed too much and worked too hard to care that a bunch of hypocrites are upset because it's someone else's turn in line. Get over it.

  17. All that money that america did not have would have been great to buy the machines we need to compete with china like cnc mills and lathes , laser welding machines and robotic arms ect.

  19. Forgiving debt won't resolve the issue. The only way is to stop financing kids that wants to get a useless degree. All these people that still have a student loan 3 years after they had graduated probably have a useless degree or too lazy to work or have a really bad working attitute. Many also took the student loan and spend it on something else other than tuition. My son told me one of his classmate, put down for a new car using his student loan and he is not the only one that did that. Many also use their loans to pay for game console and finance their party life. "Your body your choice, your loan your payment"

  21. " $4.1 trillion in tax revenue each year representing about 96% of the total gross receipts of the United States…" The IRS has enough of our taxes to cover all the student loans they just greedy and malicious and the most obvious frauds that have no good intentions. They made trillions in 2021 so do the math and make sure you put pressure on your money for them to direct our taxes to what WE AS A THE PEOPLE need most. Food, education, high paying jobs for all Americans with health care which the IRS can also allocate from the trillions just collected last year. WAKE UP

  23. So they are giving 10k to 20k to people who signed a binding contract knowing they were taking money and had to pay it back and did not. They should be giving that money to the people who had to figure out how to pay there loans back and did. I spent 7 years paying back my loan and did it. I did not cosign with these people. That is there individual debt that they brought on themselves and signed there names to. This makes as much sense as telling me that everyone at work took a month off than showed up and the boss comes to me and says i know you have been here working 10 hours every day but uh well the other employees couldn't meet there obligations so we are going to take money out of your pay to pay them for what they couldnt achieve. That's fair they say.. how about we have the government take money out of yor paycheck and everyone to pay for my car loan? Maybe they dont, because you dont have anything to do with my car choice or my loan that I signed. It's not your obligation to pay for my car loan. Same as it is not my obligation to pay for your loan you signed your name to. Did I cosign your loan.. no. Did you cosign on my car loan No. so why do i have to pay into you legal binding loan contract you signed. Has nothing to do with me. Same as my car loan has nothing to do with you. wow screw this administration and Joe Biden….. …

  25. Debt is not paid, the goverment just simply says the debt is forgiven. This does not effect anyone because the AVG college cost $36,000 a year. Colleges are not complaining and the AVG teacher salary is between $20-120k a year which means they just have to teach 4 kids in a year and the college still gets $24.000 ( they really teach between 15-40 kids). Taxes are not being raised the same way a bank bankrupted person or a Republican with millions in PPP loans forgiveness does not raise the taxes.

  29. Just allow them to declare bankruptcy, like everyone else who is in debt over their head. Fixed. All you do is revoke the stupid condition that you can’t declare bankruptcy for student loans.

    Oh oh yeah, it is the legislature that did that. Almost like no one understands this the inevitable result of pouring money into colleges and universities. Almost like they don’t understand economics. Almost like the only trick in their bag is to pour other peoples’ money at. And, it gets worse.

  31. My solution would be to suspend loan payment upto 10k until the student is earning at least 60k.
    If the student doesn't start earning 60k in their field of study within 5 years of graduation than the college must eat it (plus interest) , since their degree is worthless.
    Colleges should be required to give a money back guarantee to all graduates of a career in their field of study, so long at they make reasonable efforts to find the job.

    I also have a proposal of a direct military to civilian work program. All vets would be guaranteed a civilian job within 3 months of leaving the military.

  32. That’s right. Teach everyone, right from the cradle, that you don’t need an ounce of responsibility in life. Everything will just be handed to you. That was one of my first doses of reality in life. I had a $10,000 loan to pay back and I got whatever job I could to pay it off. So, for being a responsible citizen and paying my debts, I get rewarded by paying everyone else’s debt???!!! The banks and the federal government is NOT going empty handed.

  33. The federal government student loans money is the tax payers and not money for any of senators or house of representatives or the president money. The tax payers are a double whammy for the student loans. Borrow the money for student loans and now is forgiveness's is very unfair that people that need to pay with their tax money. The student borrowed the money to go to college, then the student should payback. American people don't want the tax rate increase because of the forgiveness. Colleges and universities give student degrees that at the end of the school is no jobs. Students borrowed money and never finished the degree or have low grades. Why the tax payers should pay the students loans?

  34. Get over it. It's $10,000 per borrower and most people owe a whole lot more than that. Just because everyone does not benefit from a policy doesn't make it a bad policy. This is no different than the covid relief checks, it's to help people making below a certain income. If you want to complain about something, complain about the trillions in tax breaks that Trump provided to already wealthy people and corporations that never got trickled down to the regular citizens. This is money that could have been used to lower the national debt, but it only made wealthy people wealthier.

  37. So we have to pay for other people bad decision making? Because you went out and wasted time on a liberal art degree or some degree that didn’t make any money? It’s not my fault you chose a bad career

  41. Absolutely moronic, keep on teaching the most entitled generations in modern history that everything is for free… USofA has fallen.

  42. American 🇺🇸!!!!
    To all Parents in our country.!!
    When your child go to college or universities.!!!!
    Yes sit down with child be realistic in asking what skills or trade after 4 years can get a job.!!
    Real Job!!!!
    God bless Us All..!!
    John F. Kennedy's inaugural address inspired children and adults to see the importance of civic action and public service. His historic words, “Ask not what your country can do for you – ask what you can do for your country,” challenged every American to contribute in some way to the public good.

  44. The G.I. Bill is available to all Americans that SERVE. Student Loan Repayment Program pays up to $ 65,000 for all enlisted Army.
    The weak minded millenials should stop complaining, Man – Up, (and woman up) and Join the Army, Navy, Air Force, Marines, and Space Force. Then they can EARN what they need to pay off student debts, and never make that mistake again. Then get a job in farming, construction, the trades, professionals, create their own small business, or work in communal fine arts and crafting.

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