Breaking news. Looks like it’s going to be up to $10k, means tested.

Anonymous wrote:

A lot of young, gullible people bought his sales pitch hook, line, and sinker.

Anonymous wrote:

Anonymous wrote:Just by looking at the theme of the tweets today, I have a hunch it’s going to be an executive order focusing on undergraduate debt — likely means tested. Plus you have to factor in Dr Jill Biden being a two year community college professor, where inner city and working class students often have $10k to $20k in federal loans, and over half never finished their program. And undergraduate caps are low, I think $30k max lifetime, not the obscene six-figure sums you see with master’s and professional degrees.

I’ve never understood carving out undergraduate loans from graduate loans for forgiveness when there are fairly moderate income limits that would apply.

Because 18 year olds with GEDs and legitimately worthless high school diplomas are preyed on vs. 22+ year olds credentialed adults with bachelor's degrees should know better? And the federal loan caps are $30k for the former, while the latter can take out 10x+ that amount? And the latter have solid earning power with just their bachelor's. And over half of the former never finished their program. And 95+% of the former were dirt poor to middle class. Rich don't take out federal loans for undergrad. Just my two cents.

Anonymous wrote:Bernie's right hand man responds to Summers.

Wall Street? The debt these people owe was charged by the Universities and Colleges that admitted them. If you want to pay for this, start with the universities and colleges that actually put these students in debt.

Anonymous wrote:Just by looking at the theme of the tweets today, I have a hunch it’s going to be an executive order focusing on undergraduate debt — likely means tested. Plus you have to factor in Dr Jill Biden being a two year community college professor, where inner city and working class students often have $10k to $20k in federal loans, and over half never finished their program. And undergraduate caps are low, I think $30k max lifetime, not the obscene six-figure sums you see with master’s and professional degrees.

I’ve never understood carving out undergraduate loans from graduate loans for forgiveness when there are fairly moderate income limits that would apply.

Anonymous wrote:Just by looking at the theme of the tweets today, I have a hunch it’s going to be an executive order focusing on undergraduate debt — likely means tested. Plus you have to factor in Dr Jill Biden being a two year community college professor, where inner city and working class students often have $10k to $20k in federal loans, and over half never finished their program. And undergraduate caps are low, I think $30k max lifetime, not the obscene six-figure sums you see with master’s and professional degrees.

Dr Jill Biden has taught at:

Delaware Technical Community College
$9,000 median federal student loan total (before interest)
25% program completion rate

Northern Virginia Community College
$11,000 median federal student loan total (before interest)
25% program completion rate

Dr Biden personally has taught thousands of working class first-generation college students who never completed their program but are trapped in federal student loan debt. $9,000-11,000 quickly becomes $20,000+ after years of compounding interest and fees. It's impossible to pay off $20,000+ while stuck in a dead-end job.

Bernie's right hand man responds to Summers.

According to CNN article today, any executive order by Biden could be overturned by Supreme Court: “That's because the court's ruling -- along with those in other recent cases on eviction moratoriums and Covid-19 vaccination mandates -- signaled that the justices may be inclined to constrain federal agencies' authority to make significant policy changes if that power is not explicitly laid out by Congress.”

Just by looking at the theme of the tweets today, I have a hunch it’s going to be an executive order focusing on undergraduate debt — likely means tested. Plus you have to factor in Dr Jill Biden being a two year community college professor, where inner city and working class students often have $10k to $20k in federal loans, and over half never finished their program. And undergraduate caps are low, I think $30k max lifetime, not the obscene six-figure sums you see with master’s and professional degrees.

Anonymous wrote:Why do tax payers have to pay this back?
Shouldn’t the colleges and universities be paying this back?
They took the money. They’ve grown their endowments. Let’s them pay it.

I think the scam schools like ITT, DeVry, Baker College and Liberty University ought to have their endowments, coffers and affiliated foundations seized to cover alums’ debt.

Why do tax payers have to pay this back?
Shouldn’t the colleges and universities be paying this back?
They took the money. They’ve grown their endowments. Let’s them pay it.

Anonymous wrote:Harvard has a $50+bn endowment but took nearly $10m in PPP. Did Summers tweet about that?

Wait... so Harvard could feasibly pay off the debt of all its graduates without trouble? Why wouldn't an elite, multi-billion dollar institution do that for its people?

Harvard has a $50+bn endowment but took nearly $10m in PPP. Did Summers tweet about that?

Anonymous wrote:Neoliberal hack and former president of Harvard is against student loan forgiveness. It begs the question why is he tweeting this? You GOP trolls are so convinced nothing is going to happen —doesn’t seem like it. It seems like rumor mill must be that Biden is seriously mulling something big.

If student loan forgiveness was going to benefit rich people then a Harvard economist would not be advising Biden against it.