White House to announce student loan cancellation, payment pause extension Wednesday

[Dashinka 24,448]

It is very interesting that Biden can automatically “forgive” these loans.  If you buy it, pay for it.

 

White House to announce student loan cancellation, payment pause extension Wednesday

 

The White House is expected to announce a plan to cancel a chunk of student loan debt on Wednesday, in addition to an extension of the existing payment pause, three sources with knowledge of the situation told The Hill. 
 

Sources said President Biden’s intended measure will include at least $10,000 in loan forgiveness for borrowers who make less than $125,000 annually, as well as another payment freeze for roughly four months. 

 

The $10,000 figure would be the largest forgiveness of federal student loans per individual to date.

 

https://thehill.com/homenews/administration/3612324-white-house-to-announce-10k-student-loan-cancellation-payment-pause-extension-wednesday/

[Crazy Cat 41,722]

This seems unconstitutional.  It is an abuse of power and misappropriation of taxpayer funds.  

[TBoneTX 45,155]

They aren't Bidementia's to forgive or to wipe off the books.

[Dashinka 24,448]

14 hours ago, Crazy Cat said:

This seems unconstitutional.  It is an abuse of power and misappropriation of taxpayer funds.  

I completely agree.  Remember when Trump wanted something like $5 billion for the wall, Congress was saying he cannot do this without them allocating the spending.  So now Old Joe with the stroke of his pen is going to spend something like $300 billion to forgive these loans (not really forgiveness, just redistributing the cost of poor decisions to the taxpayers).  Seems a little like a dictator move to me.

[Crazy Cat 41,722]

1 hour ago, Dashinka said:

Seems a little like a dictator move to me.

It sounds like a bribe using MY money.

[Dashinka 24,448]

Here is the story showing Elizabeth Warren essentially walking away from a critic of student loan transfers.  Great representative of the people.

 

https://www.dailymail.co.uk/news/article-11142219/Video-shows-dad-rage-Elizabeth-Warren-loan-forgiveness-paid-daughters-school.html

[Dashinka 24,448]

Biden To Forgive $10k In Student Loans -- In Unrelated News, Nation’s Colleges Raise Tuition By $10k

 

Dr. Charles Moneybags, director of the National Association for the Advancement Of College Professors (NAACP), said he applauds the president's decision to cancel student debt for so many borrowers. "We're very excited that a college education will be more affordable for the next generation of art history majors," he said.

 

Moneybags then went on to explain why immediate tuition increases were necessary. "Due to an unfortunate concurrence of high inflation, global warming, and, uh, the upcoming solar eclipse in 2024, we've all had to raise our tuition by $10k," he noted. "Plus, we've had to spend a ton of money building safe spaces and bathrooms for all the new genders."

 

https://babylonbee.com/news/biden-to-forgive-10k-in-student-loans-in-unrelated-news-nations-colleges-raise-tuition-by-10k

 

[LIBrty4all 3,749]

 

 

 

[Nature Boy 2.0 8,370]

38 minutes ago, LIBrty4all said:

 

 

 

I was about to post that. 100% nailed it

[TBoneTX 45,155]

7 hours ago, Nature Boy 2.0 said:

I was about to post that. 100% nailed it

No typos in post!  Account obviously hacked!  Reported!!!

[LIBrty4all 3,749]

12 hours ago, Nature Boy 2.0 said:

I was about to post that. 100% nailed it

Well, here's another one that will make you sad about the upcoming vote-buying ploy that this "college loan debt forgiveness" actually is...

 

 

 

Edited August 25, 2022 by LIBrty4all

[TBoneTX 45,155]

Meet Todd, A Total Chump Who Did The Responsible Thing And Worked His Way Through College

 

BALTIMORE, MD — Local PC Technician Todd Manfroy was singled out as a chump by his local community Wednesday after it was discovered he worked his way through college to avoid taking on student loan debt.  [...]

 

https://babylonbee.com/news/meet-todd-the-chump-who-worked-his-way-through-college

[Dashinka 24,448]

It's not just working class people that are not happy with Biden and the Democrats over this.

 

Oil workers slam Biden's student loan handout: 'Trying to buy votes'

 

Oil workers argued it was unfair for them and other working-class taxpayers to fund the handout, which would potentially benefit Americans on track to soon make hundreds of thousands of dollars. A majority of oil field workers don't have a college degree, according to the job search site Zippia. 

 

Biden announced last week that, under the program, individuals earning less than $125,000 per year, or $250,000 jointly, are eligible to receive $10,000 in relief, and Pell Grant recipients are able to receive $20,000.

 

"It's one more slap in the face from this administration," Matt Coday, the president and founder of the Oil & Gas Workers Association (OGWA), told FOX Business in an interview.

 

https://www.foxbusiness.com/politics/oil-workers-slam-biden-admins-student-loan-handout-trying-to-buy-votes

[TBoneTX 45,155]

This thing might backfire big-time on Bidementia et al.

[TBoneTX 45,155]

Good!

First lawsuit is filed challenging Biden's costly, unfair student loan forgiveness plan

 

[...] The Pacific Legal Foundation (PLF) filed a federal lawsuit Tuesday with the intent of putting a stop to the loan cancellation plan.  In addition, the group has filed for a temporary restraining order.  It's the first legal challenge to the administration's executive action.  [...]

 

https://www.usatoday.com/story/opinion/columnist/2022/09/27/lawsuit-may-block-bidens-power-play-cancelling-student-loan-debt/8122883001/