So for all of us who paid our loans off, got good grades, sacrificed and got a useful degree, so we are contributing members of society, I guess being decent human beings didn’t pay off so well.
But if you are a slacker, and take out lots of loans, have a dead end career and don’t add to our society, here’s your free education!!
If you voted for Biden, I really hope you’ll tell me next time we’re together, so I can ask you to pay my mortgage, since you’re now flush with more money. You willingly took out the loan, who says our government is able to “forgive” it? I just checked the Constitution, and it’s not in there. God Help Us 🇺🇲
LOL. You are wrong Alison. What about Presidential pardons where the government forgives criminals for their crimes? Trump did it a lot to save his criminal associates. Education should be free and we should not need student loans at all.
Wow….. I have multiple degrees which I HAD to get to get the job I have. (You know, to contribute to society). I work 40 hours a week in an excellent job, got excellent grades in school, and contribute to society in the field of education.
Let me guess, you went to school while ago, when it wasn’t six figures to get a degree?
Your comment is the most ridiculous thing I have read.
The Biden Administration is claiming “The Hero’s Act” gives them the authority to cancel this debt. There will be legal challenges over this debt cancelation, so hopefully the Courts will overturn this action as being unconstitutional!!!
What’s that about paying loans back?
Republican Members of Congress
Whose PPP Loans Were Forgiven
Matt Gaetz (R-FL): $476,000
Marjorie Taylor Greene (R-GA): $180,000
Greg Pence (R-IN): $79,441
Vern Buchanan (R-FL): $2.8M
Kevin Hern (R-OK): $1,070,000
Roger Williams (R-TX): $1,430,000
Brett Guthrie (R-KY): $4.3M
Ralph Norman (R-SC): $306,520
Ralph Abraham (R-LA): $38,000
Mike Kelly (R-PA): $974,100
Vicki Hartzler (R-MO): $451,200
Markwayne Mullin (R-OK): $988,700
Carol Miller (R-WV): $3.1M
Who Dat Crybaby
Wah, wah, wah.
I just bought gas the other day, and today the price went down. Why can’t I go back to the station and get a refund?
In the card game of life, you play the cards you’re dealt. Then move on.
@Tiredteacher – So… what’s your point? Seriously, I’m not clear on what you’re saying. You chose your career path. You chose to pursue multiple degrees to move up in your chosen field. Do you feel that you should not have to pay back any loans to chose to take out to reach your goals?
@The Old Goat
I would have no problem playing the cards I’m dealt…..if they weren’t continuously being dealt from the bottom by this treasonous administration.
@ Kahni
You are not being the least bit fair here. While you mentioned Trump, you didn’t even bring up the fact that he didn’t come close to the amount of criminals obama let out. Not sure why you would even bring it up……pardoning is legal.
Article II, Section 2, Clause 1 of the Constitution says: “The President … shall have Power to grant Reprieves and Pardons for Offences against the United States, except in Cases of Impeachment.” The president’s power can only be used to pardon someone for a federal crime, not a state one.
I hope that this helps you understand that your argument about pardons is wrong and worthless.
Your comment leads me to believe you’re one of those people who willingly took out an expensive student loan, to pay for a degree which did not help you land a successful career, thus, you’re broke.
I, on the other hand, went to a state undergrad (cheap), as any kid these days can do, too. I paid for my private grad school, drove modest cars, paid for my kids schooling (because that’s what is successful people do, BTW) and now, I’d like to know why my taxes are paying for your cancelled crappy major college degree please?
A government willing to give you everything can also take everything away 🇺🇲
James
August 24, 2022 - 2:12 PM 2:12 PM
White males need not apply.
End of story.
MoJo
August 24, 2022 - 2:22 PM 2:22 PM
We now live in an ineptocracy – a system of government where the least capable to lead are elected by the least capable of producing and where the members of society least likely to sustain themselves or succeed, are rewarded with goods and services paid for by the confiscated wealth of a diminishing number of producers.
You won’t be so happy when your taxes and cost of goods go up and up to pay for your neighbor’s windfall. Think a minute, will ya?
Ricardoh
August 24, 2022 - 2:26 PM 2:26 PM
If you paid off your student loans already you must be feeling pretty good today. Why don’t they use the government grant money too force schools to charge less. Most schools have billions of dollars in the bank.
Several years ago we took a second mortgage out on our house to help our kids pay off their loans. Student loans and second mortgage are all paid off. Now we’re expected to pay off a bunch of unemployable deadbeats loans, too? FJB FJB FJB
Now that will give those 87,000 new IRS agents something to do-recoup the money.
Yertle the Turtle
August 24, 2022 - 2:36 PM 2:36 PM
I wonder if this has to do with the hiring of 87,000 new IRS agents.
Taken from the IRS dot gov Topic 431 “Cancelled Debt” :
In general, if you have cancellation of debt income because your debt is canceled, forgiven, or discharged for less than the amount you must pay, the amount of the canceled debt is taxable and you must report the canceled debt on your tax return for the year the cancellation occurs. The canceled debt isn’t taxable, however, if the law specifically allows you to exclude it from gross income. These specific exclusions will be discussed later.
How many zoomers will properly file this lmao. Is it more than the outrage from boomers over the cancelled debt? Wild times we live in…
SmileWC
August 24, 2022 - 2:37 PM 2:37 PM
Do you think it would be too late if I took out one of those loans tomorrow?
tiredteacher Go to a community college and get an AA in electricity or electronics. Then get a job as an electrician and if you are good you will make more money than someone with a degree. Plus the work is more interesting. It is different everyday. Better if you go to a trade school so you come out with a useful skill.
I do not agree with the cancelling of the student loan debts but if they are going to do it I think that for those whose debts are cancelled need to be working in the profession that they actually went to school for. Example, went to medical school and is now working as a web developer.
tiredteacher
August 24, 2022 - 3:07 PM 3:07 PM
LOL did anyone read the article? Its $20,000. (Misleading headline for sure). Not sure how many people got a degree for $20,00 but I can tell you teachers sure didnt…..
@tiredteacher
You better put a re in front of your name and call it a day.
Bayslashers
August 24, 2022 - 3:29 PM 3:29 PM
Obama in 2008:
“We cannot continue to rely on our military in order to achieve the national security objectives we’ve set. We’ve got to have a civilian national Security force that’s just as powerful, just as strong, just as well funded.”
June 25, 2022 article:
Why did the IRS buy 5,000,000 rounds of ammo?
3,151,500 rounds of pistol ammo.
Over 350,000 rounds of shotgun ammo.
Almost 1.5 million rounds of rifle ammo.
In just the last few months, the Internal Revenue Service has bought almost 5,000,000 rounds of small arms ammunition — spending almost $700,000 in the process.
The obvious question is why would a bunch of bean counters who spend their days staring at computer screens need to stock up on millions of rounds of ammo?
I saw training videos- I was shocked. Scary times ahead.
Dom
August 24, 2022 - 3:31 PM 3:31 PM
What an absolute joke. Here is a figure that blows my mind, since1980 to the present the dollar had an average inflation rate of 3.09% per year producing a cumulative price increase of 259.56%. In the same time frame tuition has increased 2,100%!!
I guess I could complain about not getting in on the action but when I went to college DVC was only about $100 a semester and that was mostly for books.
Old man
August 24, 2022 - 3:49 PM 3:49 PM
Oh boy now I not only paid for two kids to go to college but I get to pay for everyone else’s.
Thanks Brandon
Apples and oranges Hope. The PPP loans were intended to keep people working during a time when the Government shut down the economy. Businesses used the money to pay people to stay home, and not everyone that got a PPP loan was a millionaire. No one forced these students to take on debt.
Doubtful that many of those millionaires kept people on the payroll with it but I didn’t complain about the PPP loans or the loan forgiveness to any level of income (neither of which apply to me).
It’s not “different” to provide assistance to individuals after the pandemic. No reason forgiving loans with taxpayer money or offering tax breaks should be limited to businesses and wealthy individuals. We’re all paying the taxes. If you are upset at someone receiving relief after the pandemic just because it doesn’t apply to you (or me), you can always pretend it’s just another tax break for the wealthiest individuals, which most of us also don’t qualify for but don’t seem to upset you.
ClayDen
August 24, 2022 - 4:47 PM 4:47 PM
Exactly!
ChuckStir
August 24, 2022 - 5:18 PM 5:18 PM
Just looking for votes, can not be cleaer than that.
Cellophane
August 24, 2022 - 5:19 PM 5:19 PM
It’s really this simple.
The indoctrinated took out loans,
the gov. forgives loans
The indoctrinated vote blue for life.
Americans are shafted again.
Whoe Jim
August 24, 2022 - 5:21 PM 5:21 PM
Must be nice for some people to have Biden and the Democrats milk the taxpayers again to pay their bills. Like others have mentioned they are inevitably buying future votes and draining this Country into a socialist swamp…
So disgustingly free and irresponsible with other people’s money. Take the debt from certain people (of whose vote you transparently want), and put it on the backs of others. The debt is not canceled, it is just shifted to other payers. Federal debt is greater than $30 trillion, that is $30,000,000,000,000 (roughly $90,000 per citizen).
The Fearless Spectator
August 24, 2022 - 6:45 PM 6:45 PM
The lesson here?
It pays to be a credit roach. And if you pay off your student debt, you are a sucker.
During college, my girlfriend had student loans. In our last year of school, she filed for a forbearance so we didn’t make payments for a year. Once employed we paid off her debt. In my opinion, this was a system that worked. However it worked because the loans were to responsible people.
Apparently there is a shortage of responsible people these days, and the Biden administration is catering to that lesser gene pool. These are not the leaders of tomorrow, these are the zeros of tomorrow.
HappyPappy
August 24, 2022 - 7:08 PM 7:08 PM
This is strictly a political move but will not change any votes.
The bottom-feeding losers and takers will vote for the criminals (democrats) and the conservatives will vote for conservative candidates.
The bad news is we’re stuck with the debts of bottom-feeding losers.
Cautiously Informed
August 24, 2022 - 7:45 PM 7:45 PM
Slimy Dopey Joe has gotten his(and Hunters, too). He’s basically just an actor, playing a part to gain more power, and to get more and more and more money.
p.s. All you Joe lovers: Check into how much money Joe has, and how much his politicians salary is and has been. How did he become so rich? How did he afford all those estates in some of the nations most pricey real estate locals? Joe grew up poor! Joe had to to fight Corn Pop! How it happen!
Janus
August 24, 2022 - 8:20 PM 8:20 PM
Can someone, anyone tell me where in the United States Constitution it gives the President of the United States the power to unilaterally cancel loans owed to the United States of America?
Unless someone changed the Constitution, Article I, Section 7, Clause 7 states: All Bills for raising Revenue shall originate in the House of Representatives; but the Senate may propose or concur with Amendments as on other Bills. In other words, the Power of the Purse resides with Congress not the Executive Branch.
Hopefully, this will be challenged in court. So many of Biden’s pet orders have been shut down, maybe this one will be as well.
Original G
August 24, 2022 - 9:12 PM 9:12 PM
How cute . . . DEMs using your taxpayer dollars to buy themselves votes, AGAIN ! ! !
To Do List
August 24, 2022 - 11:21 PM 11:21 PM
I am rather sure that the power to just wake up one day and spend $300 billion dollars is the “king” type power that our founding fathers opposed with King George.
DD
August 25, 2022 - 5:03 AM 5:03 AM
I worked 2 jobs and sacrificed plenty to get my degree without a bit of student loan. I want a refund.
Of course this will do nothing for those who chose the wrong major in college because “it is where the money is” rather than something they truly had an interest in and might be good at. It does no good to have a degree in something you’re miserable at.
parent
August 25, 2022 - 10:36 AM 10:36 AM
Way to support those folks who paid our way through college or who already paid off their student loans. Ya know, if I had known that I would not have to pay it all back, maybe I would borrowed money to buy cars, pay rent or party as well.
‘so sorry that you cannot live within your means and pay back what you OWE!’ This country and this pathetic state are all about free handouts now. We have gone from earning yoru way in this world to everyone getting a participation trophies and having your debts forgiven. No more consequences … no jail time for ‘petty crime’. HINT, it aint petty to the small business owner that was just robbed.
Actions have consequences. Take a loan, pay it back. Don’t like the terms, don’t take the loans.
Bobfished
August 25, 2022 - 10:57 AM 10:57 AM
It should be called force people that did not could not go to college to pay for other peoples loans that did go to college. So a person making $32,000 dollars a year cleaning out septic tanks has to pay for someone else to get a degree in music video production?
HappyPappy
August 25, 2022 - 5:33 PM 5:33 PM
“People think that the President of the United States has the power for debt forgiveness, he does not. He can postpone, he can delay but he does not have that power. That is to be an act of Congress.”
Princess Nancy
Hope Johnson
August 25, 2022 - 6:16 PM 6:16 PM
Average amount of student loan debt per borrower in 2021 was $40,900. Fed loan interest rates in 2022 range from 3.73% to 6.28%. If a borrower owes $40,000 at the lowest interest rate of 3.73% and pays over the standard loan time of 10 years, the borrower will have paid about $7900 in interest. So the $10,000 amount forgiven is mostly interest. Most borrowers will still be paying the majority of the principal borrowed, not taxpayers.
James
August 25, 2022 - 7:54 PM 7:54 PM
You can’t cancel a ‘guaranteed student loan” this is the point of calling it guaranteed.
He has lied again to his people,and nobody is going to benefit,he just going to make all those silly kids that did vote for him upset with him and they still won’t vote with a brain.
They were supposed to get an education,a job and pay it off.Ibut really t was all for student support checks and keep living with their parents…it’s all free….weeeeeeee!!!
They pay you to go to school,and you don’t have to have any results.
They have no desire for a career or a job,it’s all an act to keep getting free stuff.
“Lawmakers, including Nancy Pelosi, have argued that Biden’s executive order, is unconstitutional and goes outside the rights of the executive branch.
“Congress, not the president, is the only body that can cancel student debt, Pelosi said in July of 2021, arguing that “the president can’t do it.”
“’Not everybody realizes that, but the president can only postpone, delay but not forgive’ student loans, she added.
“The Department of Education came to the same decision, arguing that the executive branch ‘does not have the statutory authority to cancel, compromise, discharge, or forgive, on a blanket or mass basis, principal balances of student loans, and/or to materially modify the repayment amounts or terms thereof.’”
The issue of presidential authority to cancel student debt is not a settled matter. The Higher Education Act allows a President power to “enforce, pay, compromise, waive, or release” government-held federal student loans. The courts will have to decide since interpretation of the language is in dispute. Borrowers lost jobs and had their graduation times extended by mandatory shutdowns, and they deserve some relief. The $10,000 forgiveness mostly covers interest as the average borrower owes $40,000 so much of the loan will be paid back by borrowers. Borrowers who have been paying for years have paid well close to, if not more than, $10,000 in interest to the government. And we all know not to trust Nancy Pelosi when she claims her hands are tied – she is the master of making excuses for why elected Democrats can’t get anything done.
HappyPappy
August 26, 2022 - 9:09 AM 9:09 AM
Wait until the parasites find out their forgiven loans are taxable as income. But ONLY if Congress passes a bill doing so, and then signed by that stumbling, bumbling, criminal pedophile, Traitor Joe.
And only if they include “parasite” millionaires whose PPP loans and interest were forgiven completely with not one cent paid back despite the means to do so.
So for all of us who paid our loans off, got good grades, sacrificed and got a useful degree, so we are contributing members of society, I guess being decent human beings didn’t pay off so well.
But if you are a slacker, and take out lots of loans, have a dead end career and don’t add to our society, here’s your free education!!
If you voted for Biden, I really hope you’ll tell me next time we’re together, so I can ask you to pay my mortgage, since you’re now flush with more money. You willingly took out the loan, who says our government is able to “forgive” it? I just checked the Constitution, and it’s not in there. God Help Us 🇺🇲
LOL. You are wrong Alison. What about Presidential pardons where the government forgives criminals for their crimes? Trump did it a lot to save his criminal associates. Education should be free and we should not need student loans at all.
Wow….. I have multiple degrees which I HAD to get to get the job I have. (You know, to contribute to society). I work 40 hours a week in an excellent job, got excellent grades in school, and contribute to society in the field of education.
Let me guess, you went to school while ago, when it wasn’t six figures to get a degree?
Your comment is the most ridiculous thing I have read.
WhoDat Gurl,
The Biden Administration is claiming “The Hero’s Act” gives them the authority to cancel this debt. There will be legal challenges over this debt cancelation, so hopefully the Courts will overturn this action as being unconstitutional!!!
What’s that about paying loans back?
Republican Members of Congress
Whose PPP Loans Were Forgiven
Matt Gaetz (R-FL): $476,000
Marjorie Taylor Greene (R-GA): $180,000
Greg Pence (R-IN): $79,441
Vern Buchanan (R-FL): $2.8M
Kevin Hern (R-OK): $1,070,000
Roger Williams (R-TX): $1,430,000
Brett Guthrie (R-KY): $4.3M
Ralph Norman (R-SC): $306,520
Ralph Abraham (R-LA): $38,000
Mike Kelly (R-PA): $974,100
Vicki Hartzler (R-MO): $451,200
Markwayne Mullin (R-OK): $988,700
Carol Miller (R-WV): $3.1M
Who Dat Crybaby
Wah, wah, wah.
I just bought gas the other day, and today the price went down. Why can’t I go back to the station and get a refund?
In the card game of life, you play the cards you’re dealt. Then move on.
@Tiredteacher – So… what’s your point? Seriously, I’m not clear on what you’re saying. You chose your career path. You chose to pursue multiple degrees to move up in your chosen field. Do you feel that you should not have to pay back any loans to chose to take out to reach your goals?
Come on, JazzHorn…No democrats didn’t repay any loans? Or did they sell any stock prior to a collapse?
This isnt a democrat or republican issue.
Kahni,
WRONGO!
K-12 public education is “free “, and the law but not really. Our tax dollars… and still it sucks….
College is a choice and not one cent of our tax money should be spent on it…
Spot on Gurl!!!
All this is is a transfer of debt from someone who willingly took out a loan to someone who didn’t.
@The Old Goat
I would have no problem playing the cards I’m dealt…..if they weren’t continuously being dealt from the bottom by this treasonous administration.
@ Kahni
You are not being the least bit fair here. While you mentioned Trump, you didn’t even bring up the fact that he didn’t come close to the amount of criminals obama let out. Not sure why you would even bring it up……pardoning is legal.
@Kahni-
Article II, Section 2, Clause 1 of the Constitution says: “The President … shall have Power to grant Reprieves and Pardons for Offences against the United States, except in Cases of Impeachment.” The president’s power can only be used to pardon someone for a federal crime, not a state one.
I hope that this helps you understand that your argument about pardons is wrong and worthless.
@Old Goat,
Your comment leads me to believe you’re one of those people who willingly took out an expensive student loan, to pay for a degree which did not help you land a successful career, thus, you’re broke.
I, on the other hand, went to a state undergrad (cheap), as any kid these days can do, too. I paid for my private grad school, drove modest cars, paid for my kids schooling (because that’s what is successful people do, BTW) and now, I’d like to know why my taxes are paying for your cancelled crappy major college degree please?
A government willing to give you everything can also take everything away 🇺🇲
White males need not apply.
End of story.
We now live in an ineptocracy – a system of government where the least capable to lead are elected by the least capable of producing and where the members of society least likely to sustain themselves or succeed, are rewarded with goods and services paid for by the confiscated wealth of a diminishing number of producers.
Idiocracy has become reality
Jealously isn’t a good look on you. Be happy for your neighbors : )
G,
What jealousy? I haven’t seen any jealousy, but i’ve seen a lot of anger.
You won’t be so happy when your taxes and cost of goods go up and up to pay for your neighbor’s windfall. Think a minute, will ya?
If you paid off your student loans already you must be feeling pretty good today. Why don’t they use the government grant money too force schools to charge less. Most schools have billions of dollars in the bank.
Several years ago we took a second mortgage out on our house to help our kids pay off their loans. Student loans and second mortgage are all paid off. Now we’re expected to pay off a bunch of unemployable deadbeats loans, too? FJB FJB FJB
SF oh Know exactly how you appear to feel.
Now that will give those 87,000 new IRS agents something to do-recoup the money.
I wonder if this has to do with the hiring of 87,000 new IRS agents.
Taken from the IRS dot gov Topic 431 “Cancelled Debt” :
In general, if you have cancellation of debt income because your debt is canceled, forgiven, or discharged for less than the amount you must pay, the amount of the canceled debt is taxable and you must report the canceled debt on your tax return for the year the cancellation occurs. The canceled debt isn’t taxable, however, if the law specifically allows you to exclude it from gross income. These specific exclusions will be discussed later.
How many zoomers will properly file this lmao. Is it more than the outrage from boomers over the cancelled debt? Wild times we live in…
Do you think it would be too late if I took out one of those loans tomorrow?
@SmileWC….Make sure you take this course, it’ll give you a big edge at job interviews in the future………..
https://liberalarts.utexas.edu/news/ut-english-course-takes-a-swift-turn
So my money is going to pay for someones loan that probably makes more than me. IDIOTS!
Well if $20,000 pays off their loan I think its safe to assume they aren’t rolling in the riches. LOL
Average cost for a BA is $30,000 a YEAR….. so if they got anything less, like an AA or certificate its highly unlikely they are making the big bucks.
@tiredteacher,
There is something messed up when large loans are issued to people who can’t afford to pay them back.
@tiredteacher
Never assume.
tiredteacher Go to a community college and get an AA in electricity or electronics. Then get a job as an electrician and if you are good you will make more money than someone with a degree. Plus the work is more interesting. It is different everyday. Better if you go to a trade school so you come out with a useful skill.
Who said you can’t buy votes?
Not Gavin Newsom, that’s for sure.
I do not agree with the cancelling of the student loan debts but if they are going to do it I think that for those whose debts are cancelled need to be working in the profession that they actually went to school for. Example, went to medical school and is now working as a web developer.
LOL did anyone read the article? Its $20,000. (Misleading headline for sure). Not sure how many people got a degree for $20,00 but I can tell you teachers sure didnt…..
@tiredteacher
It’s not $20,000. It’s $300 billion!
@tiredteacher
You better put a re in front of your name and call it a day.
Obama in 2008:
“We cannot continue to rely on our military in order to achieve the national security objectives we’ve set. We’ve got to have a civilian national Security force that’s just as powerful, just as strong, just as well funded.”
June 25, 2022 article:
Why did the IRS buy 5,000,000 rounds of ammo?
3,151,500 rounds of pistol ammo.
Over 350,000 rounds of shotgun ammo.
Almost 1.5 million rounds of rifle ammo.
In just the last few months, the Internal Revenue Service has bought almost 5,000,000 rounds of small arms ammunition — spending almost $700,000 in the process.
The obvious question is why would a bunch of bean counters who spend their days staring at computer screens need to stock up on millions of rounds of ammo?
CONNECT THE DOTS
This is Barry Satoro’s 3rd term
I saw training videos- I was shocked. Scary times ahead.
What an absolute joke. Here is a figure that blows my mind, since1980 to the present the dollar had an average inflation rate of 3.09% per year producing a cumulative price increase of 259.56%. In the same time frame tuition has increased 2,100%!!
I bet health insurance is right up there, too, thanks to obamacare.
Biden and his ilk are slimy weasels. This is a slap in the face to responsible citizens.
+1
I guess I could complain about not getting in on the action but when I went to college DVC was only about $100 a semester and that was mostly for books.
Oh boy now I not only paid for two kids to go to college but I get to pay for everyone else’s.
Thanks Brandon
agree… we need a refund asap.and boot bogus biden ou of oofice.!
A friend of mine just paid off his student loan last month after 10 years of paying.
@ Bill-
That makes your friend a sucker in the eyes of Biden. He’s an uber-sucker if he ever votes Dem again.
Nearly $400B of PPP loans were forgiven, which included loans for millionaires. What’s good for the millionaires is good for the students.
Apples and oranges Hope. The PPP loans were intended to keep people working during a time when the Government shut down the economy. Businesses used the money to pay people to stay home, and not everyone that got a PPP loan was a millionaire. No one forced these students to take on debt.
@Hope Johnson,
PPP loans were designed to be forgiven under certain terms (keeping people on the payroll). It is a false comparison with student loans.
What millionaires?
Who? Speak up Hope!
Let’s have some names… I want to know who these cheapskates are & give ’em a piece of my mind!
a sample
Jared Kushner, family worth $800M, forgiven $3M loan
Diddy, worth $900M, forgiven $1.9 loan
Paul Pelosi, worth $129M, forgiven $1.7 loan
Khloe Kardashian, worth $60M, forgiven $1.2M loan
Reese Witherspoon, worth $400M, forgiven $960k loan
Tom Brady, worth $150M, forgiven $960k loan
EDI Assoc., two loans forgiven – $700k & $996k
Ben Shapiro, $20k loan forgiven
Steven Crowder, $71k loan forgiven
Clifton Adcock, $1.2M loan forgiven
Doubtful that many of those millionaires kept people on the payroll with it but I didn’t complain about the PPP loans or the loan forgiveness to any level of income (neither of which apply to me).
It’s not “different” to provide assistance to individuals after the pandemic. No reason forgiving loans with taxpayer money or offering tax breaks should be limited to businesses and wealthy individuals. We’re all paying the taxes. If you are upset at someone receiving relief after the pandemic just because it doesn’t apply to you (or me), you can always pretend it’s just another tax break for the wealthiest individuals, which most of us also don’t qualify for but don’t seem to upset you.
Exactly!
Just looking for votes, can not be cleaer than that.
It’s really this simple.
The indoctrinated took out loans,
the gov. forgives loans
The indoctrinated vote blue for life.
Americans are shafted again.
Must be nice for some people to have Biden and the Democrats milk the taxpayers again to pay their bills. Like others have mentioned they are inevitably buying future votes and draining this Country into a socialist swamp…
spot on Whoe Jim
So disgustingly free and irresponsible with other people’s money. Take the debt from certain people (of whose vote you transparently want), and put it on the backs of others. The debt is not canceled, it is just shifted to other payers. Federal debt is greater than $30 trillion, that is $30,000,000,000,000 (roughly $90,000 per citizen).
The lesson here?
It pays to be a credit roach. And if you pay off your student debt, you are a sucker.
During college, my girlfriend had student loans. In our last year of school, she filed for a forbearance so we didn’t make payments for a year. Once employed we paid off her debt. In my opinion, this was a system that worked. However it worked because the loans were to responsible people.
Apparently there is a shortage of responsible people these days, and the Biden administration is catering to that lesser gene pool. These are not the leaders of tomorrow, these are the zeros of tomorrow.
This is strictly a political move but will not change any votes.
The bottom-feeding losers and takers will vote for the criminals (democrats) and the conservatives will vote for conservative candidates.
The bad news is we’re stuck with the debts of bottom-feeding losers.
Slimy Dopey Joe has gotten his(and Hunters, too). He’s basically just an actor, playing a part to gain more power, and to get more and more and more money.
p.s. All you Joe lovers: Check into how much money Joe has, and how much his politicians salary is and has been. How did he become so rich? How did he afford all those estates in some of the nations most pricey real estate locals? Joe grew up poor! Joe had to to fight Corn Pop! How it happen!
Can someone, anyone tell me where in the United States Constitution it gives the President of the United States the power to unilaterally cancel loans owed to the United States of America?
Unless someone changed the Constitution, Article I, Section 7, Clause 7 states: All Bills for raising Revenue shall originate in the House of Representatives; but the Senate may propose or concur with Amendments as on other Bills. In other words, the Power of the Purse resides with Congress not the Executive Branch.
Hopefully, this will be challenged in court. So many of Biden’s pet orders have been shut down, maybe this one will be as well.
How cute . . . DEMs using your taxpayer dollars to buy themselves votes, AGAIN ! ! !
I am rather sure that the power to just wake up one day and spend $300 billion dollars is the “king” type power that our founding fathers opposed with King George.
I worked 2 jobs and sacrificed plenty to get my degree without a bit of student loan. I want a refund.
Buying votes simple as that. How about reduce debt for seniors!
Remember back in April when Nancy said he couldn’t do that?
https://youtu.be/c2hw-mfQUTs
Of course this will do nothing for those who chose the wrong major in college because “it is where the money is” rather than something they truly had an interest in and might be good at. It does no good to have a degree in something you’re miserable at.
Way to support those folks who paid our way through college or who already paid off their student loans. Ya know, if I had known that I would not have to pay it all back, maybe I would borrowed money to buy cars, pay rent or party as well.
‘so sorry that you cannot live within your means and pay back what you OWE!’ This country and this pathetic state are all about free handouts now. We have gone from earning yoru way in this world to everyone getting a participation trophies and having your debts forgiven. No more consequences … no jail time for ‘petty crime’. HINT, it aint petty to the small business owner that was just robbed.
Actions have consequences. Take a loan, pay it back. Don’t like the terms, don’t take the loans.
It should be called force people that did not could not go to college to pay for other peoples loans that did go to college. So a person making $32,000 dollars a year cleaning out septic tanks has to pay for someone else to get a degree in music video production?
“People think that the President of the United States has the power for debt forgiveness, he does not. He can postpone, he can delay but he does not have that power. That is to be an act of Congress.”
Princess Nancy
Average amount of student loan debt per borrower in 2021 was $40,900. Fed loan interest rates in 2022 range from 3.73% to 6.28%. If a borrower owes $40,000 at the lowest interest rate of 3.73% and pays over the standard loan time of 10 years, the borrower will have paid about $7900 in interest. So the $10,000 amount forgiven is mostly interest. Most borrowers will still be paying the majority of the principal borrowed, not taxpayers.
You can’t cancel a ‘guaranteed student loan” this is the point of calling it guaranteed.
He has lied again to his people,and nobody is going to benefit,he just going to make all those silly kids that did vote for him upset with him and they still won’t vote with a brain.
They were supposed to get an education,a job and pay it off.Ibut really t was all for student support checks and keep living with their parents…it’s all free….weeeeeeee!!!
They pay you to go to school,and you don’t have to have any results.
They have no desire for a career or a job,it’s all an act to keep getting free stuff.
From the National Review…
“Lawmakers, including Nancy Pelosi, have argued that Biden’s executive order, is unconstitutional and goes outside the rights of the executive branch.
“Congress, not the president, is the only body that can cancel student debt, Pelosi said in July of 2021, arguing that “the president can’t do it.”
“’Not everybody realizes that, but the president can only postpone, delay but not forgive’ student loans, she added.
“The Department of Education came to the same decision, arguing that the executive branch ‘does not have the statutory authority to cancel, compromise, discharge, or forgive, on a blanket or mass basis, principal balances of student loans, and/or to materially modify the repayment amounts or terms thereof.’”
The issue of presidential authority to cancel student debt is not a settled matter. The Higher Education Act allows a President power to “enforce, pay, compromise, waive, or release” government-held federal student loans. The courts will have to decide since interpretation of the language is in dispute. Borrowers lost jobs and had their graduation times extended by mandatory shutdowns, and they deserve some relief. The $10,000 forgiveness mostly covers interest as the average borrower owes $40,000 so much of the loan will be paid back by borrowers. Borrowers who have been paying for years have paid well close to, if not more than, $10,000 in interest to the government. And we all know not to trust Nancy Pelosi when she claims her hands are tied – she is the master of making excuses for why elected Democrats can’t get anything done.
Wait until the parasites find out their forgiven loans are taxable as income. But ONLY if Congress passes a bill doing so, and then signed by that stumbling, bumbling, criminal pedophile, Traitor Joe.
And only if they include “parasite” millionaires whose PPP loans and interest were forgiven completely with not one cent paid back despite the means to do so.