White House leaning toward canceling $10,000 in student loan debt for borrowers who make less than $125,000

CNN ^ | August 22, 2022 | MJ Lee and Phil Mattingly

[Seaplaner]

Hmmm, as an Honorably Discharged Vet, I used my well-earned GI Bill benefits to pay for much of my undergrad, and I worked (worked) to support myself through grad school.

With the above, and along with my academic achievements, I learned hard work, responsibility, and a focus toward success that benefitted me and my family since.

Now, I feel a metaphorical "slap" across my 70+ year-old face as my tax money is to be used to underwrite play time for young adults.

[HartleyMBaldwin]

...administration officials have also recently discussed the possibility of additional forgiveness for specific subsets of the population...

Why does this not surprise me? Any guesses as to which subsets they're considering?

[DUMBGRUNT]

NOTHING IS CANCALLED!

Simply transferring the debt from a bunch of deadbeats to TAXPAYERS.
Believing they will receive votes for this action.
AKA vote buying.

[laconic]

Is Biden the Pooh-Bah? Just how does one man, and one senile doddering fool of a man, decide to cancel the legal debt of millions? I thought we had a Congress that addressed such matters.

[ducttape45]

Nope, sorry, I want IT ALL canceled. $10,000 won't cut it. Blast it Sniden, fulfill your promise!!!! /sarcasm off

Ok, I'm done with my rant. LOL

[Lurker]

By what authority?

L

[Keyhopper]

Shhhhhh they’re not supposed to find out about that until AFTER the election

[willk]

“Woo hoo! I get to pay for Gender Studies degrees for unemployed drug addicts”

That is so funny, but so sad that, in reality, it is true.

[bobbo666]

Well, that is free $$ for everyone with a worthless degree in gender studies, etc.

[ModelBreaker]

“additional forgiveness for specific subsets of the population, according to sources familiar with internal discussions in the administration.”

I wonder if those subsets are disproportionately Democrat. No, the administration surely would not do that!

[nbenyo]

But it doesn’t matter whether Democrats or Republics are in power. That’s what I hear on FR every day.

[dfwgator]

Of course that $10,000 will be considered income and will be taxable.

[Revel]

Translation: We all get to pay for it. And I want a refund for the student loans I paid.

[Svartalfiar]

It’s not cancelling. It’s transferring the payments to the taxpayers.

The taxpayers are the ones the debt is owed to!

[brianl703]

Well, that covers Federal employees in the “DMV” who make the median Federal employee salary.

How nice.

[BillyBonebrake]

What about those of us who saved for our children’s college and paid for it?

Prudence punished yet again. See how long this takes to play out.

[mewzilla]

Meanwhile, the hundreds of billions in endowments nationwide go unthreatened...

[brookwood]

The loans will be paid off by taxpayers. Those driving a truck or working in construction or as a waitress will pay off the loans of the gender or black studies majors who do very well as diversity consultants.