Why is Biden extending the student loan repayment pause?

[Anonymous]

Anonymous wrote:As someone who scrimped and went without to pay off my student loans, I’m royally pissed off that my classmates who made minimum payments and enjoyed their money are going to get to skip out on their loans.

Before anyone asks, I had six figures worth of student loans and didn’t have any parent help. I had to delay having kids and buying a home to pay off my loans.

I just finished paying them off two years ago in time to get screwed by the pandemic.

I’m really, really pissed off.

It isn’t a blanket forgiveness! Stop getting your knickers in a twist.

[Anonymous]

Anonymous wrote:

Anonymous wrote:As someone who scrimped and went without to pay off my student loans, I’m royally pissed off that my classmates who made minimum payments and enjoyed their money are going to get to skip out on their loans.

Before anyone asks, I had six figures worth of student loans and didn’t have any parent help. I had to delay having kids and buying a home to pay off my loans.

I just finished paying them off two years ago in time to get screwed by the pandemic.

I’m really, really pissed off.

It isn’t a blanket forgiveness! Stop getting your knickers in a twist.

Why don’t you try reading the terms? A lot of people who could have paid off their loans, who come from wealthy families, and/or who work lucrative jobs that are public interest only by tortured definitions will qualify. Not to mention that I question why people who knowingly took on student loans shouldn’t have to pay them. Should I get to offload my mortgage onto taxpayers if I got in over my head?

[Anonymous]

As if the U.S. didn't have enough spending on its plate, with printing money and creating inflation, now they're planning student loan forgiveness?

How can I arrange to get my out-of-sight mortgage forgiven? We've been paying for decades and no end in sight. It's a drag on our lifestyle. I need to save for retirement. Somebody, RESCUE ME. I need my mortgage loan FORGIVEN.

[Anonymous]

I hope Biden does it so we can watch the collective Boomer meltdown:

"I paid for Dartmouth by life guarding every summer! Why can't you afford $120K for a state university for 4 years?!?! Pay your loans!!!!"

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:As someone who scrimped and went without to pay off my student loans, I’m royally pissed off that my classmates who made minimum payments and enjoyed their money are going to get to skip out on their loans.

Before anyone asks, I had six figures worth of student loans and didn’t have any parent help. I had to delay having kids and buying a home to pay off my loans.

I just finished paying them off two years ago in time to get screwed by the pandemic.

I’m really, really pissed off.

It isn’t a blanket forgiveness! Stop getting your knickers in a twist.

Why don’t you try reading the terms? A lot of people who could have paid off their loans, who come from wealthy families, and/or who work lucrative jobs that are public interest only by tortured definitions will qualify. Not to mention that I question why people who knowingly took on student loans shouldn’t have to pay them. Should I get to offload my mortgage onto taxpayers if I got in over my head?

I did! You must be in two different programs. Most are in standard repayment.

[Anonymous]

A few thoughts:

-The single biggest issuer of federal student loans is Liberty University. Liberty then recycles that money back into the GOP.

-No matter what Biden does (or doesn't do), he's going to get sh#t on by Republicans. He should just go whole hog and forgive all student loans.

[Anonymous]

The American public is too dumb to understand Biden’s plan and the GOP will spin it to their advantage. It a shame.

[Anonymous]

Anonymous wrote:The American public is too dumb to understand Biden’s plan and the GOP will spin it to their advantage. It a shame.

What's Biden's plan here? To stop the bleeding for midterms? I don't think this will get him any more voters than those who were already favorably inclined toward him and abhor the GOP.

[Anonymous]

Anonymous wrote:

Anonymous wrote:The American public is too dumb to understand Biden’s plan and the GOP will spin it to their advantage. It a shame.

What's Biden's plan here? To stop the bleeding for midterms? I don't think this will get him any more voters than those who were already favorably inclined toward him and abhor the GOP.

He is forgiving loans that were already supposed to be forgiven. Student loan servicers should have been tracking the time in repayment for the entire length of the loan, which wasn’t happening. Servicers also would steer people away from income driven repayment.

[Anonymous]

So, do you all think it’s fair for student loan debt to be shifted from those who took out the loans and kept the degrees to poor people who didn’t go to college and people who worked to pay off their own loans?

Also, how is it fair that federal debt is forgiven, but people with private loans or who refinanced federal debt into privatr loans are SOL?

[Anonymous]

“Forgiveness” is simply a euphemism for redistribution.

He is redistributing the payment of these loans to people who never went to college and to people who were responsible and paid off their loans.

It is wrong.

[Anonymous]

This is as well crafted as the Biden immigration policy.

[Anonymous]

Anonymous wrote:So, do you all think it’s fair for student loan debt to be shifted from those who took out the loans and kept the degrees to poor people who didn’t go to college and people who worked to pay off their own loans?

Also, how is it fair that federal debt is forgiven, but people with private loans or who refinanced federal debt into privatr loans are SOL?

Because people took out the loans under the agreement that repayment time is tracked (which it wasn’t) and that Income Driven Repayment Programs were an option (which people were wrongly denied). The government is keeping up their terms of the agreement FINALLY!!

[Anonymous]

Anonymous wrote:“Forgiveness” is simply a euphemism for redistribution.

He is redistributing the payment of these loans to people who never went to college and to people who were responsible and paid off their loans.

It is wrong.

You’re wrong. Biden’s plan is to honor the terms put forth that never got fully implemented.

[Anonymous]

Loan forgiveness has always existed! Think back (wayyy back for some of you!) to the student loan meetings you sat through before getting your first loan. There were always forgiveness programs: income driven repayment always had a 20 limit, public service always had a 10 year limit, and standard loan repayment always has had a 30 year limit. If you don’t remember this, you are financially illiterate.