The announcement is the latest in a series of loan forgiveness actions by the administration after the Supreme Court last year struck down Biden's much broader plan.
  • gibmiser@lemmy.world
    713·
    5 months ago

    I’m so sick and tired of this liberal waste. These are tax dollars that could be used for something so much better than giving people a free ride.

    Just think about it, if you took $5 billion dollars and split it up, you could give 10 billionaires a $500 million dollar tax break that would surely trickle down all over the faces of those poor people below them.

    • UltraMagnus0001@lemmy.world
      21·
      5 months ago

      Us poor people need to get together and prevent this madness of giving other poor people money who tried to not be poor by improving themselves, because we might someday feel like a millionaire. We should give that money to the Pentagon so they won’t know where the money went.

    • BrianTheeBiscuiteer@lemmy.world
      9·
      5 months ago

      I suffered paying off my loans for nearly 10 years. I skipped meals and put off sooo much maintenance so I could make my payments. I started saving for retirement much later than I wanted and will probably work till I die. Why should younger generations have it any better? /s

    • Zippy@lemmy.world
      34·
      5 months ago

      Those with pay secondary educations in a while will be far richer than those with no secondary education. They will be the next rich class. So yes these loans are going to the future rich. Good job I say.

  • Sanctus@lemmy.worldEnglish
    9·
    5 months ago

    I’m just straight up not paying. Fuck you and your PPP Loan bullshit. If any faceless entity with an Inc next to their name can get on demand govy hand jobs but the citizens are left out to forage behind Wendy’s then you can go fuck yourself. Don’t care what they can and will do. Good luck getting my student loan money while the Rubepublicans are actively cannibalizing democracy.

  • AutoTL;DR@lemmings.worldBEnglish
    9·
    5 months ago

    This is the best summary I could come up with:

    WASHINGTON — In a new wave of student loan forgiveness, the Biden administration is canceling $5 billion in debt for 74,000 borrowers, many of whom worked in public sector jobs for more than a decade.

    Since the ruling, the White House has launched a series of smaller relief programs.

    “My Administration is able to deliver relief to these borrowers — and millions more — because of fixes we made to broken student loan programs that were preventing borrowers from getting relief they were entitled to under the law,” Biden said on Friday.

    In December, Biden approved about $4.8 billion in student debt cancelation for more than 80,000 borrowers.

    The Supreme Court struck down Biden’s student loan relief plan in June, arguing that the program was unlawful because it was not explicitly approved by Congress.

    Biden said in Friday’s statement that “we are continuing to pursue an alternative path to deliver student debt relief to as many borrowers as possible as quickly as possible” in the wake of the Supreme Court’s decision.

    The original article contains 324 words, the summary contains 171 words. Saved 47%. I’m a bot and I’m open source!