Biden cancelling College Debt.

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Joe Biden was told NOT to cancel student loan debt by Janet Yellen and Jill - but Kamala pushed him to do it and the $1TRILLION scheme was unveiled before it was properly costed


On Friday, The New York Times reported that many within the White House had significant doubts about the wisdom of the plan - and that, despite months of lobbying from both sides, the rollout had been so rushed the loan companies were uninformed and White House economists had no idea how much the scheme will cost.

One estimate, by Wharton School of Business, puts the cost at up to $1 trillion.

They believe it will cost between $300-980 billion over the 10-year budget window, and concluded that about 70 percent of debt relief accrues to borrowers in the top 60 percent of the income distribution - something which supporters of the policy insisted was not the case.
 
This is outrageous. Our system and capitalism provide equal opportunity. There are a great many people who borrowed money for school, graduated, got a good job and paid the loan back. Borrowing money for school should be an investment in yourself. If it turns out it was a bad investment that is not the the taxpayers fault.
 
I don’t agree with the Feds forgiving the loans in every case.
My Son taking 7 yrs to get a 4 yr., I stopped paying after he didn’t meet my “outrageous demand” of a B average. Since he now works for the state (why you need a degree to be a CO, is beyond me), the State should pay it.
My Daughter never asked after her first failure of my unreasonable demand of a B. She did incur a lot of debt to become a Dr of Physical Therapy. Got good enough Grades after to skip a year.
Career in demand, pays her 1/3 of my DVM wife makes. Will never have the overall for potential because of her career choice, but she will be more comfortable than I was bringing her up. I think this qualifies for Fed forgiveness of some.
 
I have nothing but praise for a parent who takes enough interest in their children's education to insist on good grades. I "spoiled" my son in university, helping with tuition, room and board, and even bought him a 4 wheel drive, and gave him a credit card to use if needed. For my part I said an occasional "B" was acceptable but I didn't really like to see them. Best investment I ever made.
 
I have very good friends (married) who sacrificed for years in order for the wife to attend college without a student loan. They waited to have kids, lived in a run-down low rent apartment, shared one vehicle…the husband did odd jobs addition to his full-time job, and she worked on weekends when she wasn’t in school. They didn’t use food stamps or gov’t assistance. His full-time job allowed them to have private insurance. She considered dropping out many times. We wouldn’t have blamed her, but she didn’t. She’s a teacher now. No student loan debt. This loan forgiveness crap does not affect me because I didn’t go to college, but I am angry for my friends and all the others who worked to pay for college on their own and they didn’t get any relief.
 
IF BICRAP is going to cancel college debt why dont he just go all the way and cancel TAXES too!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Instead he is doubling down by hiring an additional 87,000 IRS enforcement agents, more than doubling the current number of employees....things that should make people think...but, they won't. Instead they just nod and smile...oh they are going after those 80 tax evading billionaires....uh-huh. Sure thing Einstein. Let me know how that works out for ya.
 
I'm aginst debt "forgiveness" of any kind for any reason, and for anyone. Why should the tax payers ever pay for someone's poor choices or for their failure in life? I've always always paid my debts off, why shouldn't everyone pay their own way too?

The libs /Dems are idiots. They don’t understand basic human nature. Their ideals of taking away PERSONAL GROWTH by eliminating CONSEQUENCES is the biggest problem in how they look at any given problem.
 
The libs /Dems are idiots. They don’t understand basic human nature. Their ideals of taking away PERSONAL GROWTH by eliminating CONSEQUENCES is the biggest problem in how they look at any given problem.

I think they understand human nature, they just think they are above it and can manipulate it into "something" better, just like they think they can manipulate the climate, economy, life span, intelligence...it is called Trans-humanism and it is dangerous.
 
To the democrat/communists we, the tax payer, are just sheep waiting to be fleeced. They know that we'll just grumble a little bit, but in the end we'll just roll over and accept anything. They know that we won't fight back.
Even now, look at the in-fighting going on about Trump. Many people wont get behind and support the only person capable of fighting the DS and the communist party. The last thing our country needs is a president that will compromise with the Leftists.
Trump ain't perfect, but he really is the only choice we have right now.
 
The big stick the government has is that if you don't pay your taxes they will take away your possessions. I know you can say, "Come and take them". Problem is, they will. One of the most hearbreaking things I ever saw is a farm family forced to sell their land and equipment at auction.
 
1688162371305.png
 
This just makes it better. . . using Nancy's own words. 🤣
https://www.usasupreme.com/supreme-...uses-nancy-pelosis-quote-to-do-it-screenshot/
The Supreme Court on Friday blocked the Biden administration’s student debt relief plan, stopping more than 40 million borrowers from receiving loan forgiveness and delivering a major defeat to one of the president’s key campaign promises.

The high-stakes decision will limit President Biden’s options to deliver on his commitment to cancel $10,000 of student loans for low- and middle-income borrowers.

“The Secretary asserts that the HEROES Act grants him the authority to cancel $430 billion of student loan principal. It does not,” Chief Justice John Roberts wrote. The court ruled 6-3 along ideological lines.


Biden’s plan would have canceled up to $20,000 in loans for Pell Grant recipients and $10,000 for other borrowers, if the individual’s income is less than $125,000. The income limit was doubled for married couples.

Anticipation had been building that the court’s conservative majority would strike down the plan. During oral arguments in February, several justices expressed doubt about the Education Department’s authority to unilaterally forgive hundreds of billions of dollars in student debt.


The cases against the program were brought by two groups of challengers: six GOP-led states and two individual borrowers, with both groups arguing that the administration exceeded its authority.

What is even more important is the fact that Justice Roberts cited Nancy Pelosi in the majority opinion when she said Biden doesn’t have the power to cancel student debt.

Here’s a screenshot below:
1688163050141.png

Got to thank Nancy for this one!

Video below:


Under Biden’s plan, the federal government would have forgiven up to $10,000 in federal student debt for Americans who make less than $125,000 annually and $20,000 for Pell grant recipients who came from lower-income families.

Biden vowed to cancel student debt during his run for president in 2020.
 
Yeah, I guess none of you guys are going to be paying for my remaining loans after all.

That will make things much less awkward around here!
When you took out that loan, back in the day, didn't you think you were going to be able to pay it off on your own? Unfortunatly life has hit you and your family hard! I'm sorry, debts still have to be paid. I dealt with this during my younger days. Bills came first and was only able to eat once a day at work. . . I know your situation is different and sad.
 
When you took out that loan, back in the day, didn't you think you were going to be able to pay it off on your own? Unfortunatly life has hit you and your family hard! I'm sorry, debts still have to be paid. I dealt with this during my younger days. Bills came first and was only able to eat once a day at work. . . I know your situation is different and sad.

Yeah, I was joking around. 😊 I meant it would have been awkward if my student loans were forgiven because everyone on here would be paying for it.

I am almost done paying mine- just a few more payments to go. We paid off my husband's years ago. When we have extra money, we put it towards the mortgage because student loans can be deferred and mortgages can't. We still will be paying it off early, even so. If I can pay off my student loans with everything we have going on, I think just about anyone can.
 
I never went to college, and still worked up to executive VP at a major corporation. Anyone can do the same.
I think it's great that these whiney college punks have to pay for their worthless degrees.
It's all about work ethics. I could go up if I actually wanted to. But I don't want to right now. I have to go in yearly to "turn down" 'an oppurtunity". I have made it clear every time. I'm going to be the middle guy. My choice.
 
It's all about work ethics. I could go up if I actually wanted to. But I don't want to right now. I have to go in yearly to "turn down" 'an oppurtunity". I have made it clear every time. I'm going to be the middle guy. My choice.
When I first started my working career I was a welders helper. There were things that I didn't understand about the way the company was managed. So I worked up to foreman by the time I was 24. From there I went to superintendent, senior manager, project manager, director, VP and eventually executive VP. Over much of my career I worked jobs that allowed me to have up to 7 months vacation each year. This time off allowed me to do the things that I really wanted to do, plus travel around the world and to live where I wanted to live. It was a career path and effort that not many people are willing to do. It worked for us, and it allowed us to retire at 57 for me and 55 for the wife.
 

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