President Biden announced Friday that his administration is forgiving $5 billion in student debt for another 74,000 borrowers, marking the latest round of debt cancellation since the Supreme Court voided the president’s student loan forgiveness program.
Mr. Biden said that of the borrowers who can receive relief, nearly 44,000 are teachers, nurses, firefighters and others who are eligible for forgiveness after working 10 years of public service. Almost 30,000 of those who will have their debt wiped clean have been repaying their loans for at least 20 years, but did not get the relief they earned through income-based plans, the president said.
With the latest round of student loan forgiveness, more than 3.7 million Americans have had their debt erased under the Biden administration, Mr. Biden said.
I’m not sure why this comment is so controversial. It’s exactly what’s happening. We’ve been talking about this now for forever and almost nothing is happening. It’s wonderful that 74,000 people get some relief but that’s a drop in the ocean. I want it badly but I’ve almost accepted the fact that it’s probably not going to happen.
Lots of moderates want to keep copying the Republican party, even the part where no one is allowed to question any politician who has the right letter next to their name.
They think it’s better to live with the problems and not talk about them let alone solve them.
Which is pretty much the whole problem.
You’re allowed to ask questions. You just don’t like the answers.
In this case, the answer is that debt forgiveness is happening, but you weren’t paying attention.
There’s 1.77 trillion in student loan debt…
https://www.usatoday.com/money/blueprint/student-loans/average-student-loan-debt-statistics/
Do you think enough is being done?
Especially when every year a shit ton of students enter college into the same shit show?
I couldn’t find a source for how much total Biden has forgiven, but I’d be shocked if the percentage doesn’t start with a decimal point.
Before you can forgive $1.77 trillion, you need to forgive $136 billion.
80 years ago moderates said before we could all have universal healthcare, we should settle for orphans, widows, and those with disabilities.
And that in a few years we might get it for everyone else after they looked into it.
Couple generations later and moderates are still saying they’re looking into it…
Why do you think Student Loan debt will be different?
Medicare covers everyone over 65, not just orphans, widows, and people with disabilities.
The reason we didn’t have universal health care 80 years ago is that it wasn’t popular 80 years ago. Even today, support for single payer is shaky, depending on the details.
Yeah, ok…
People kept voting FDR into office so often we had to put a limit on how many times a person could be president because his main campaign issue was unpopular…
Medicare was popular because it was specifically aimed at retired people.
It also did not pass under FDR. In fact, FDR thought health care was too controversial to include in his Social Security proposal.
Medicare had to wait until 1965, when it was signed by Lyndon Johnson.
74,000 in addition to the 3.4 million people who already had student loans forgiven. That’s not nothing.