Buy votes, create disparity and divide people, that’s what democrat policies are designed to do. Joe Biden follows the playbook by cancelling $10k to $20k in student loan debt for those who have federal government loans. Students with private loans backed by the federal government are not eligible.
Additionally, Biden has extended the “COVID emergency payment moratorium” through the end of the year. No one with a federal student loan needs to restart paying until after the midterm election, in 2023. [White House Fact Sheet Here]
If the economy is doing so great, then why the need for bailouts?
WASHINGTON (AP) — President Joe Biden on Wednesday announced his long-awaited plan to deliver on a campaign promise to provide $10,000 in student debt cancellation for millions of Americans — and up to $10,000 more for those with the greatest financial need — along with new measures to lower the burden of repayment for their remaining federal student debt.
Borrowers who earn less than $125,000 a year, or families earning less than $250,000, would be eligible for the $10,000 loan forgiveness, Biden announced in a tweet. For recipients of Pell Grants, which are reserved for undergraduates with the most significant financial need, the federal government would cancel up to an additional $10,000 in federal loan debt.
Biden is also extending a pause on federal student loan payments for what he called the “final time” through the end of 2022. He was set to deliver remarks Wednesday afternoon at the White House to unveil his proposal to the public.
If his plan survives legal challenges that are almost certain to come, it could offer a windfall to a swath of the nation in the run-up to this fall’s midterm elections. More than 43 million people have federal student debt, with an average balance of $37,667, according to federal data. Nearly a third of borrowers owe less than $10,000, and about half owe less than $20,000. The White House estimates that Biden’s announcement would erase the federal student debt of about 20 million people. (read more)
The Parasite Party hard at work. High-level parasites steal our resources, then throw some of it to the low-level parasites in order to guarantee their support.
“Parasite Party”
Nice! I like that…
Will somebody put him out of our misery?
The first step was the government funded student loan program. Second step government forgiveness of student loan debt. Third step free college for everyone. Millions more democratic voters are created through academia indoctrination and free stuff.
We are fortunate, in a twisted way, to have a brain-dead goof to name as responsible for ALL the treachery of the Democrat Party. Biden is barely responsible for his toilet needs and certainly is NOT running this country. Those who manage him from behind the curtains are the true criminals. While Biden is certainly guilty of many felonies, he now lacks the mind to even remember what they are, and regardless of that, he has NEVER had to capacity to lead anything. So it is easy for us to Biden’s economy, “Biden’s plan’, “Biden’s This and That”. Nonsense. He is the metaphoric face that makes naming the blame easy and concise when talking about it all.
Wait until they find out that those eligible are the ones who have been making regular payments for at least 10 years!!!
Biden has NO AUTHORITY.
I wonder what the minorities are thinking now seeing billion diverted to student loan payoff when they do not get any help with biden inflation and electricity bills increasing faster than what they make and now face their electricity being turn off. what a country, what a moron for a fake president who was NOT DULY ELECTED and is a ILL-LEGITIMATE PRESIDENT. the d ….. rats need to be destroyed at the ballot box in Nov so we can start MAGA
https://threadreaderapp.com/thread/1562454117108240386.html
Question: Will anyone who owes at least $10,000 in student loans and is currently making over $125,000 be asking their employer to decrease their salary to $124,999 so they can get their $10,000 lunch at the government trough? Of course once they receive their payout, their salary would revert back to the original level, retroactive to the date they got the reduction. Grifters gotta grift to the maximum extent possible.
Sounds like more a Stealth Fascism (according to the traditional definition of fascism) under the guise of Socialism. In this case, Federal Govt in league with Private Lending Corp, with taxpayers footing the bill. I mean, the Private Lending Corps still get their money, that is, our money, retrieved for them by the Govt through their weaponized IRS.
Flashback : Nancy Pelosi says Biden DOES NOT have the power to cancel student loans. “People think that the president of the United States has the power for debt forgiveness. He does not.”
YET, here we go :
@POTUS
“bold action is a strong step in Democrats’ fight to expand access to higher education”
I thought all funding bills had to originate in the house? This is illegal by executive fiat in my opinion. We should file a class action lawsuit; I have standing as a taxpayer….
Stolen elections have consequences. The biden crime family & consiglieres have destroyed a nation that was functioning at the best, due to the real President Donald J. Trump. The dems have turned the swamp into a cesspool. This is what evil looks like. Pure unadulterated evil……..
This is a violation of the Equal Protection Clause of the 14th Amendment!