Joe Biden expected to announce $10,000 student loan forgiveness program Wednesday: Report

Student loans are contracts using taxpayer money that was allocated only for repayment. Joe cannot interfere with a contract. He can only defer the repayment due to a short term issue. He cannot change the contract itself.

This is outright theft by the executive branch and provides grounds for impeachment due to a total abdication of respect for the co-equal branches of government.

The Supreme Court just finished admonishing Congress for not taking responsibility for legislating and funding that they alone are responsible for.

 

Again, only Congress can fix this issue as only they have the authority to allocate money. Joe can harp all he wants but this fund was not allocated to be spent. It was allocated to be repaid.
If the Democrats wanted to fix this, it should have been done a year ago when Pelosi stated directly that only Congress has the authority to offer student loan relief.

The Democrats are violating the Constitution construct.

 

Actually, Presidents used to move money across the government all of the time until it was abused one too many times, and Congress took that power away from the President.

 

You cannot become an Aerospace Engineer in 6 months. Sorry it’s never going to happen.

So many critical roles and they have to be taught and they won’t be don’t by certificate. The best working solution today is dual enrollment where HS kids are coming out of HS with enough credits in college to obtain their AA degree and start University as a Junior and graduate in 2. That’s one way to lower the debt and make school cost efficient.

 

Congratulations to all of you who did not have college debt...... Now you do!

 

No I fully expect the toothfairy to cover the cost for us.

 

I've been promoting that idea for a while, great minds an all that.

And, if people just paid the 'minimum' as some do with credit cards, it takes a LOT longer to get things paid off. Unfortunately, a majority of people can not define the difference between need and want, and allocate funds poorly.

 

The way things are going, by the end of next month it may well be middleclass.

 

I still am looking for you to explain this common misbelief. Are you mad you can't get the total interest money? Because the entire principal will be paid by almost every student.

This would be baller.

 

I wonder why people flip out over helping students payoff debt which actually helps mainly lower and middle class people over Biden spending $350 billion on Green Initiatives masquerading as Inflation Reduction.

 

So, if your loan is forgiven, its the responsible thing to continue paying for it? No, its not responsible, its idiotic.

In my State it was Governor DeSantis, although he places blame squarely on Trump. What does that have to do with it?

And?

No, I do not. I am simply asking why you accuse of the students of being irresponsible just because someone else forgave their loans? Do you have an answer to that? I get people ripping Biden about it, because its on him, but I don't get people ripping the students for it.

 

I heard this argument on the radio, and it's short sighted.
The post 911 gi bill gives a student $2400 a month while in school, And fully pays tuition, non taxed. A world of difference from a $ 10k taxable event going towards a loan.

No it will not deture recruitment, and if it does, that person was joining for the wrong reason anyway.

 

Plus, there still isn't a job opportunity for someone with a high school diploma that offers the type of training, benefits, and job security as the military. Not even close.

 

Umm, it's ur boy DeSantis buying votes, he's giving people cash.
Receive a check in the mail from DeSantis? Don't throw it away,

https://www.wtsp.com/article/news/r...child/67-f759fcff-eb33-4c57-98e7-7e214aeb00c4

 

Please tell me you’re not this economically inept. When debt is forgiven you lose more than interest money. The borrowed amount is not paid back too.

 

A real conservative would have cut taxes. That is a joke, I agree

 

Average cost of going to college is about $150 000, and it can exceed $500 000, so the incentive of serving in military is pretty much unchanged with this $10K handout.

Students are not making anyone doing anything. Its absurd how you make this all about the students. Its not their fault the government is forgiving part of their loan.

You think the "righty" students pay the $10K even if its forgiven? No, they will not. They are not that stupid.

Welcome to election year politics.

 

Most of the people getting relief have been paying for years, and will likely pay back more than they borrowed even with this relief.

So the government isn't getting back less than they gave out, even with the 10k forgiveness.

 

How so?

 

Most of the loans are already well past 10K in interest added. 10K won’t touch the principal.

 

You have got to be kidding me… you’re really this out of tune with economics. You can’t be for real. You think you can just make 300,000,000,000 magically appear with zero effect? This is amazing to me.

Among borrowers with outstanding student debt, the median debt amount in 2021 was between $20,000 and $24,999.

You think you can cut student loans in half with no effect economically? Do you think the government doesn’t use the interest developed from these loans? Something is going to lose funding if no one is paying for it.

Not only did they lose the interest, they lost $300,000,000,000 dollars that done absolutely nothing to benefit anyone but a select few.

 

Wow? Can’t be civil I see. Most everyone of these loans have already matured well past 10K in interest. When I graduated and started paying my loans I owed nearly 100k. I hen I made my final payment I paid back 154k. I doubt a 10k forgiveness hurt the country one single bit.

 

You don't want to answer because you know it negates your claim.
Nuff said.

 

Except I did answer right after I said Apples and Oranges

 

You don’t get it do you. They lost $300,000,000,000 along with the future interest off of that $300,000,000,000. You think the interest on the remaining loan amounts will pay for all that? It’s not just about the 10k per person. It’s also about the interest that 10k would have made plus the 10k. It’s a huge loss that benefits very few