373
Biden Administration Cancels Another $7.7 Billion in Student Loans
(www.nytimes.com)
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
this post was submitted on 22 May 2024
373 points (98.2% liked)
politics
18081 readers
1363 users here now
Welcome to the discussion of US Politics!
Rules:
- Post only links to articles, Title must fairly describe link contents. If your title differs from the site’s, it should only be to add context or be more descriptive. Do not post entire articles in the body or in the comments.
- Articles must be relevant to politics. Links must be to quality and original content. Articles should be worth reading. Clickbait, stub articles, and rehosted or stolen content are not allowed. Check your source for Reliability and Bias here.
- Be civil, No violations of TOS. It’s OK to say the subject of an article is behaving like a (pejorative, pejorative). It’s NOT OK to say another USER is (pejorative). Strong language is fine, just not directed at other members. Engage in good-faith and with respect!
- No memes, trolling, or low-effort comments. Reposts, misinformation, off-topic, trolling, or offensive.
- Vote based on comment quality, not agreement. This community aims to foster discussion; please reward people for putting effort into articulating their viewpoint, even if you disagree with it.
- No hate speech, slurs, celebrating death, advocating violence, or abusive language. This will result in a ban. Usernames containing racist, or inappropriate slurs will be banned without warning
We ask that the users report any comment or post that violate the rules, to use critical thinking when reading, posting or commenting. Users that post off-topic spam, advocate violence, have multiple comments or posts removed, weaponize reports or violate the code of conduct will be banned.
All posts and comments will be reviewed on a case-by-case basis. This means that some content that violates the rules may be allowed, while other content that does not violate the rules may be removed. The moderators retain the right to remove any content and ban users.
That's all the rules!
Civic Links
• Congressional Awards Program
• Library of Congress Legislative Resources
• U.S. House of Representatives
Partnered Communities:
• News
founded 1 year ago
MODERATORS
Awesome seeing this all go to long term payers and public service workers!! Helping loyal citizens is exactly why we institute a governing body
I mean...
This program has existed for decades...
It's just the government put loan servicers in charge of it. You know, the people with a financial incentive to not forgive any loans.
So through intentional and wilfully incompetence, they just weren't forgiving loans they should have.
The people getting forgiveness today, should have gotten it a long time ago, and the government is still paying the inflated costs so the servicers are still getting more than they should. And there are a lot more that have fulfilled their obligations but don't have forgiveness yet.
Is finally doing what we should have done a long time ago better that not doing it?
Absolutely.
However acting like this is progress and something new that people are getting isn't really correct.
I'd hate to see how much of these amounts is interest accumulated after the loan should have already been forgiven.
The government should have ordered back pay from servicers to the borrowers including interest. As well as an investigation and criminal charges if evidence shows they were intentionally failing to forgive loans intentionally. And the government should be returned any funds they paid these servicers to operate PSLF.
We can be happy the bare minimum was done for some people, but we shouldn't stop asking for what we deserve
Love this idea
Funny you mention exactly what I tell folks who push back against this - these programs already existed and have for awhile. They're good programs designed to help justify people entering the public sector as opposed to everyone starting a private for-profit practice!
Even doing it for private workers would be good for everyone
No one takes out tens of thousands of dollars in debt for shits and giggles, even 18 year old kids.
Some take more than they should and spend it on stupid stuff, but I've just never seen any situation where any type of means testing has been beneficial.
Especially as I'm getting older and what's been happening the last couple years, I'm all about my taxes funding America's education and future economic prosperity rather than funding another countries genocide, tax breaks for the wealthy, or bailouts to failing industries.
Anyone that's played grand strategy games knows education pays off dividends in the future, and I sure as hell want the generations running shit when I'm old and feeble to be well educated.
So ... it quite literally is progress. Not enough progress, but progress none-the-less.
Doesn't have the same ring as:
I know, dude. I agree with you that it's not enough, and the media needs to do better. I'm just saying let's give him due credit for what he has done, because the opposition will almost certainly regress if given the chance.
Always one person to complain about anything.