What is going on with student loans?

[Anonymous]

I say this as someone with no skin currently in the game, but did have loans that were forgiven. I benefited greatly from the payment pause, and while I do think it's a bit silly to forgive high earners' loans without any limits (I didn't turn down forgiveness just like I don't turn down tax credits and deductions), I think it's reasonable to say let's forgive people's loans up to a limit after a certain amount of time/income based payments.

I'm just curious what the Biden administration's plan is? One time forgiveness for current borrowers (what happens to future borrowers)? Do they extend the payment pause indefinitely? It's been over two years of no payments, by now it's baked into people's budgets and politically it's just going to get harder to start payments as the economy gets worse. Is there anybody in the Biden administration thinking long-term on this? It feels like they are just constantly reacting to public opinion/twitter/inertia on this.

[Anonymous]

Big mistake not to restart repayment. Big mistake.

But, he won't do it before the midterms. He should, but he won't.

No forgiveness.
And, it will never get through Congress.

[Anonymous]

It’s going to be extended through end of 2022. If forgiven, $10K at most but I’m doubtful even that is possible. They’re just waiting for midterms to be over to kick people off.

[Anonymous]

Most student loans are held by people with high earning potentials like doctors and lawyers. This is why it's such a Democratic issue - it's their core constituency.

[Anonymous]

This is crazy.

[Anonymous]

Anonymous wrote:This is crazy.

“ Eroding union density, declining wages, and skyrocketing tuition have all made college less a path to high-paying jobs than an escape hatch from the worst-paying ones. ”

That’s the best summation of the value of a modern bachelors degree that I’ve read

[Anonymous]

Biden and leading Democrats like Elisabeth Warren lied. That's what happened. They aren't going to forgive a cent before the mid-terms, let alone that $10k per borrower they dangled for years. When the Republicans steal back the majority in November, Dems get to make them the student loan forgiveness bogeyman again. It's all fake, neither sides cares about the peasants on the bottom. So just pay off your debts or get a public service or fed job that forgives them because Congress nor POTUS will ever do a thing for you.

[Anonymous]

Anonymous wrote:Big mistake not to restart repayment. Big mistake.

But, he won't do it before the midterms. He should, but he won't.

No forgiveness.
And, it will never get through Congress.

WHAT won’t get through Congress? ED has compromise and settlement authority already.

[Anonymous]

politico reporting that $10k forgiven for households making $250k or less. ppl will "self attest"

once announced, i'm registering as a republican

[Anonymous]

We do not need to subsidize educated people. During a period of runaway inflation, no less. They need te begin repayments immediately to reduce the amount of discretionary money in the budgets of educated, well off people. This is absolute lunacy on Biden's part.

[Anonymous]

10k forgiveness is actually going to happen, it seems!!!!

[Anonymous]

Anonymous wrote:10k forgiveness is actually going to happen, it seems!!!!

Thats just what we need-- more cash in circulation.

[Anonymous]

If you voluntarily take out loans, you should be required to pay them back. Period. I’m trying to get my own kids through college - not at all interested in funding other people’s student loans.

[Anonymous]

We do not need to subsidize educated people. During a period of runaway inflation, no less. They need te begin repayments immediately to reduce the amount of discretionary money in the budgets of educated, well off people. This is absolute lunacy on Biden's part.

This, if true.

[Anonymous]

Wait for the political ads: video of college students at daytona beach juxtaposed to inflation images juxtaposed to law school grads making 6 figures.

dems always find a way to screw things up.