Forgive Student Loans?

[Sea Ray]

White House shines light on Republicans criticizing student debt cancellation after their PPP loans were forgiven

As I recall PPP passed 96-0 in the Senate

 

[Jxn Vol]

If Biden thinks students can’t pay their student loans how does he think they can afford an electric car?

 

[85SugarVol]

As I recall PPP passed 96-0 in the Senate

The PPP loans were an Abomination.

 

[Sin City Vol]

Can the people that "owe" student loans... votes be bought for a few trillion $$$... 100% Yes of course

So lets here from these college students that await Obama to forgive the debt

Obama's next term? Free stuff! - YouTube

Couldn’t the same be said for people who file for bankruptcy? What about people who got PPP loans? I personally know plenty of people who got hundreds of thousands in PPP loans that didn’t need it. It’s called selective outrage.

 

[hog88]

Couldn’t the same be said for people who file for bankruptcy? What about people who got PPP loans? I personally know plenty of people who got hundreds of thousands in PPP loans that didn’t need it. It’s called selective outrage.

It's not the same and it's not selective outrage. If you applied for and received a PPP you agreed to the terms and conditions of it's use, if you did not meet those terms and conditions you had to pay it back. That was clear on the front end, yes people abused the system and hopefully more will be prosecuted for it but comparing PPP loans to comparing apples to oranges.

 

[82_VOL_83]

Biden’s new 87,000 IRS agents are gonna raise $700B in revenue
Biden’s new student loan cancellation is gonna cost us $600B

Can somebody do the math on that

Maffs be hard.

 

[Sea Ray]

Couldn’t the same be said for people who file for bankruptcy? What about people who got PPP loans? I personally know plenty of people who got hundreds of thousands in PPP loans that didn’t need it. It’s called selective outrage.

People who file bankruptcy have to show that they can't pay it back and then they pay a price in terms of their credit rating etc. You're comparing the two??? You're reaching bigtime

 

[Rasputin_Vol]

the PPP thing, was it authorized by Congress, or did Trump just pen an EO?

I'm not sure what difference that makes. The point is that some of the very people clutching their pearls over student loan relief were able to get PPP loan relief.

 

[Orangeburst]

I'm not sure what difference that makes. The point is that some of the very people clutching their pearls over student loan relief were able to get PPP loan relief.

Good to see you back Ras..some were concerned.

 

[LouderVol]

SIAP. https://www.woodtv.com/news/nexstar...an-forgiveness-education-department-says/amp/

"In early October, an application will be launched for borrowers that need to submit information needed by the Education Department.

After you’ve submitted that form (we don’t know what it will look like, but officials have indicated it will be short) Cardona says you can expect relief within four to six weeks."

The timing is very interesting. The forms for forgiveness wont be available until October. Then it will take 4 to 6 weeks. Taking right into the start of Novemember. Can anyone think of any reason why that timing might be.....politically convient.


Vote for us or no loan forgiveness. Even though this is an EO the WH will use lost elections as an excuse this doesnt actually happen.

 

[MOOOOONEY]

I do like how we continue to worry about the debt cancellation when the reason people “need” the cancellation still exists. Another whole year of college freshmen have just enrolled taking out countless new loans to pay colleges and universities for degrees in areas that can never and will never provide adequate income for repayment.

The reason the government needs to get out of the loan business.

No one else has skin in the game but the lowly tax payers.

5 million loans in default
25 million in forbearance

Who is paying the interest on this money that the government borrowed for student loans?

 

[MOOOOONEY]

I'm not sure what difference that makes. The point is that some of the very people clutching their pearls over student loan relief were able to get PPP loan relief.

Im torn on this.

1. The government should have never shut down businesses

2. The government needs to stay out of the loan business (see student loans)

3. Should have been a interest free loan based on loss revenue with a forbearance period after businesses were approved by the government to open back up with a bankruptcy clause for businesses that never recovered after the unconstitutional lockdown.

 

[RikidyBones]

Im torn on this.

1. The government should have never shut down businesses

2. The government needs to stay out of the loan business (see student loans)

3. Should have been a interest free loan based on loss revenue with a forbearance period after businesses were approved by the government to open back up with a bankruptcy clause for businesses that never recovered after the unconstitutional lockdown.

I'm not torn.

PPP loans should have never been necessary. But the federal gov worked with state govs to shut down business, therefore, they need to reimburse. PPP money was just that. They were voted on by the legislature

This student loan thing is an EO. It's unconstitutional and should be struck down. It's also more damaging with this inflation and on the heels of a stupid spending bill that is set to make it worse. I'll wager to say these people that "need" the forgiveness will end up in a net negative after the inflation is peaks from the last two policies by this admin.

 

[LouderVol]

I'm not torn.

PPP loans should have never been necessary. But the federal gov worked with state govs to shut down business, therefore, they need to reimburse. PPP money was just that. They were voted on by the legislature

This student loan thing is an EO. It's unconstitutional and should be struck down. It's also more damaging with this inflation and on the heels of a stupid spending bill that is set to make it worse. I'll wager to say these people that "need" the forgiveness will end up in a net negative after the inflation is peaks from the last two policies by this admin.

The PPP loans contributed to that inflation. Or does that free printed money not count?

 

[RikidyBones]

The PPP loans contributed to that inflation. Or does that free printed money not count?

Pretty sure I addressed that in the second sentence.

 

[C-south]

If Biden thinks students can’t pay their student loans how does he think they can afford an electric car?

Run out and buy one, then default on the loan, then sue the government.

 

[Orangeburst]

Administration urges borrowers to seek refunds for student loan payments made prior to forgiveness

 

[Electric Orange]

That didn't answer the question...

 

[Franklin Pierce]

Taxpayers have Paid Over $50M in Student Loan Relief to Hill Staff in last three years

Taxpayers have footed the bill for more than $50 million in student loan payments for Capitol Hill staffers over the last few years thanks to a little-known scheme.

While many lawmakers were busy slamming President Joe Biden's controversial student loan forgiveness plan, almost all were simultaneously offering up to $80,000 in taxpayer-funded student debt relief to people who worked for them.

Under the largely unknown plan, taxpayers are footing the bill for Capitol Hill staffers' college bills. Those in the Senate can receive up to $40,000 directly from the Treasury to pay down their federal student loans. The House is even more generous, with up to $80,000 on offer through a nearly identical benefit created in 2023.

Monthly benefit payments for Senate staffers are capped at $500 a month, while House staffers have a larger monthly cap of $833. Despite the cap, the U.S. Treasury has paid off $36.5 million in House staffers' student loans since the start of 2020, according to House disbursement records. Senate staffers enrolled in the benefit have seen just over $15 million wiped away from their outstanding student loan balances since October 2019, Senate records show.

Taxpayers have paid over $50M in student loan relief to Hill staff in last three years

 

[kiddiedoc]

LOL. Clown show.

 

[utvolpj]

Needed for the grinder

 

[NurseGoodVol]

And this one.

They are from EL?

 

[Zues1]

That didn't answer the question...

Opens mouth , garbage comes out

 

[AM64]

Taxpayers have Paid Over $50M in Student Loan Relief to Hill Staff in last three years

Taxpayers have footed the bill for more than $50 million in student loan payments for Capitol Hill staffers over the last few years thanks to a little-known scheme.

While many lawmakers were busy slamming President Joe Biden's controversial student loan forgiveness plan, almost all were simultaneously offering up to $80,000 in taxpayer-funded student debt relief to people who worked for them.

Under the largely unknown plan, taxpayers are footing the bill for Capitol Hill staffers' college bills. Those in the Senate can receive up to $40,000 directly from the Treasury to pay down their federal student loans. The House is even more generous, with up to $80,000 on offer through a nearly identical benefit created in 2023.

Monthly benefit payments for Senate staffers are capped at $500 a month, while House staffers have a larger monthly cap of $833. Despite the cap, the U.S. Treasury has paid off $36.5 million in House staffers' student loans since the start of 2020, according to House disbursement records. Senate staffers enrolled in the benefit have seen just over $15 million wiped away from their outstanding student loan balances since October 2019, Senate records show.

Taxpayers have paid over $50M in student loan relief to Hill staff in last three years

So in other words, if you didn't do your homework and earned a worthless degree that won't pay for itself, don't fear because there may be a job waiting for you in congress ... the place that determines the fate of the nation. Very reassuring.

 

[StarRaider]

I'm not sure what difference that makes. The point is that some of the very people clutching their pearls over student loan relief were able to get PPP loan relief.

Congress is supposed to "control the purse" so I have heard.... student debt forgiveness aka vote buying scheme should be authorized by Congress and let the constituents see how their rep voted. king xiden should not be able to spend without congressional approval.