“Since Biden took office in January 2021, the Department of Education has forgiven over $116 billion in federal student loan debt held by more than 3.4 million students.”
He’s not going to let a silly thing like the Supreme Court get in his way“Since Biden took office in January 2021, the Department of Education has forgiven over $116 billion in federal student loan debt held by more than 3.4 million students.”
Dead beats is kinder than what I would have called them. If they didn't understand that if you borrow money, then you have to repay it, they probably should have just quit the educational process after grade school. Clearly they're not bright enough to have pursued things any further. They should've just spent the rest of their lives flipping burgers or sweeping floors.The news said it was a done deal for a huge number (3.5 million suggested) of loan dead beats.
(Loan dead beats was my opinion, not what the news called them).
Yep, it's been an open issue for years that stuff like public service loan forgiveness hasn't been working even for tons of people who met the requirements.This is not being done the same way as his previous unconstitutional attempt. My understanding is that the recent loan forgiveness events are being done under legal means based on existing law.
First, if an educational institution defrauds students and goes under, by law those loans can be forgiven. Several billion worth of forgiveness falls under that.
Also, there are public student loans forgiveness programs for people who take certain jobs and work in a given profession or situation and work in that job for 10 years while making loan payments every month. Think nurses, teachers, firefighters, etc that work in "underserved" communities. This has been law for a while now.
But government is absolutely terrible at administering pretty much everything, so only like 2% of people who have applied had their loans forgiven, despite meeting the conditions of the program. They are trying to make approvals easier and make sure people that meet the criteria are approved. That's what Biden means when he says things about programs that started before his administration.
Bottom line, these are not new forgiveness programs being invented by Biden, although the regime and democrat media certainly present it that way.