Biden to Announce Decision on Student Loan Debt, Affecting Millions of Borrowers

https://www.nytimes.com/2022/08/23/us/politics/biden-student-loan-debt.html

by Vaslo • 4 years ago

8 16 4 years ago

alexb_• 4 years ago

megaman821• 4 years ago

I don't think this is good policy and I also don't think this is good politics. What is thought process here? Give a handout to a portion of your base that doesn't really turnout to vote and give Republicans something meatier to get their base off the couch to vote.

sn0w_crash• 4 years ago

What is the incentive for paying off my loans if others are getting them cancelled? I’m happy for them, but I might as well stop sending payments.

smt88• 4 years ago

Most of the beneficiaries of this decision will be people who went to for-profit scam "colleges" like ITT Tech (many of which have now shut down for essentially being fraudulent enterprises).

frumper3• 4 years ago

Those students look to be better served by this settlement

https://www.forbes.com/sites/adamminsky/2022/08/05/court-gra...

yuppie_scum• 4 years ago

Let us know what happens

Bostonian• 4 years ago

This is not legal -- this is effectively an appropriation of money, which must be done by Congress.

frumper3• 4 years ago

Sounds like a political power play then. Should republicans sue to stop it? Not sure if that’s good optics to pursue.

google2341232• 4 years ago

Republicans don’t need to sue, just find some tax payer advocacy group to do the lawsuit

edoggie2• 4 years ago

Love how people complain about helping out to citizens, but when it's the money for the military industrial complex, no amount is too much.

hindsightbias• 4 years ago

SCOTUS taught us that corporations are people, and they’re not poor people, so they’re good.

edoggie2• 4 years ago

WheelsAtLarge• 4 years ago

This was a great idea previous to the COVID related $7+ trillion addition to the national debt. The national debt went from about $23 trillion to about $30 trillion in less than 3 years. Now we'll be adding more to it. If all the 45 million get a break then that's 45 mil * 10k = 1/2 trillion, about. It's nuts.

https://www.usdebtclock.org/

I'm all for it but the administration needs to figure out how to pay for it. Adding to the national debt will increase inflation, making things worse for everybody in the long run.

google2341232• 4 years ago

Transferring 250b to a group will cause inflation to rise since they will increase their consumption and total output will likely not rise.

Inflation impact probably some fraction of a percent which Is 100 to 200$ for a home

kyleblarson• 4 years ago

College is already free: https://www.benefits.va.gov/giBill/

Biden to Announce Decision on Student Loan Debt, Affecting Millions of Borrowers

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