How has he been unable to move the needle on student loan forgiveness when substantial amount of loans have already been forgiven and more are in the works? Not being able to forgive 100% of them counts as being 100% unable to do any of it?
Pretty much. They’ve been litigating the issue and doing what they can within the constraints they have, but apparently it amounts to nothing to entitled people.
The improvements that have been made apply to a TINY minority of people and even in that group, they may not qualify. On top of that, continuing to ask people to pay isn’t REALLY “forgiveness” now, is it?
“The SAVE option reduces the monthly federal student loan payments for undergraduate borrowers from 10% of discretionary income to 5%, and shortens the timeline to forgiveness for those with small balances from the usual required 20 years or 25 years. Those who took out $12,000 or less in their undergraduate or graduate postsecondary studies get any remaining debt erased after just a decade.”
So:
We’re still going to ask you to pay, you just have to pay 5% of your income instead of 10%.
If you took out student loans less than $12K (who DOES that?) the debt can be erased after 10 years instead of 20 to 25 years.
That’s not forgiveness. That’s not what people are looking for.
How has he been unable to move the needle on student loan forgiveness when substantial amount of loans have already been forgiven and more are in the works? Not being able to forgive 100% of them counts as being 100% unable to do any of it?
This is only the most recent one
https://www.ed.gov/news/press-releases/biden-harris-administration-announces-nearly-5-billion-additional-student-debt-relief
the only way that effort will continue is if Biden or another Dem is in office because there’s no way the GOP will help.
You’re absolutely right, a LOT of Biden’s wins people act like it didn’t happen, and if it did and wasn’t exactly what they hoped for it’s trash, etc.
Conservatives can do no wrong to their base, but dems must be perfection or they’re just as bad to a lot of d voters
Pretty much. They’ve been litigating the issue and doing what they can within the constraints they have, but apparently it amounts to nothing to entitled people.
The improvements that have been made apply to a TINY minority of people and even in that group, they may not qualify. On top of that, continuing to ask people to pay isn’t REALLY “forgiveness” now, is it?
https://www.cnbc.com/2024/01/16/how-to-qualify-for-bidens-fast-tracked-student-loan-forgiveness.html
“The SAVE option reduces the monthly federal student loan payments for undergraduate borrowers from 10% of discretionary income to 5%, and shortens the timeline to forgiveness for those with small balances from the usual required 20 years or 25 years. Those who took out $12,000 or less in their undergraduate or graduate postsecondary studies get any remaining debt erased after just a decade.”
So:
We’re still going to ask you to pay, you just have to pay 5% of your income instead of 10%.
If you took out student loans less than $12K (who DOES that?) the debt can be erased after 10 years instead of 20 to 25 years.
That’s not forgiveness. That’s not what people are looking for.
Reality. It sucks sometimes.
That it do!