Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Biden cancels $10,000 in federal student loan debt for most borrowers
CNBC ^ | 8/24/2022 | Annie Nova

Posted on 08/24/2022 8:46:56 AM PDT by Tell It Right

President Joe Biden announced on Wednesday that he will forgive $10,000 in federal student debt for most borrowers, fulfilling a campaign pledge and delivering financial relief to tens of millions of Americans.

Biden will also cancel up to $20,000 for recipients of Pell Grants, he said in a tweet on Wednesday.

The relief will be limited to Americans earning under $125,000 per year.

(Excerpt) Read more at cnbc.com ...


TOPICS: Crime/Corruption; News/Current Events; Politics/Elections
KEYWORDS: 2022election; annienova; anwr; bidenflation; cnbc; debt; election2022; impeach; impeachnow; keystonexl; kingpuppetthefirst; loan; mediawingofthednc; msnbc; nbc; nobrainscollectively; opec; partisanmediashill; partisanmediashills; ronklain; student
Navigation: use the links below to view more comments.
first previous 1-2021-4041-6061-80 ... 121-126 next last
To: vikingd00d

Ding ding ding

Forgiven debt is taxable.

Full employment for the IRS.
They don’t “forgive” debt.


21 posted on 08/24/2022 8:53:12 AM PDT by silverleaf (“Freedom ultimately means the right of other people to do things that you disagree with”. T. Sowell )
[ Post Reply | Private Reply | To 7 | View Replies]

To: BuchananBrigadeTrumpFan
Probably unconstitutional... but Judge will probably rule several years from now... and then just say that since everyone already received their benefit there’s no remedy (just like the voting fraud case in Wisconsin).

Correct. The constitutionality is irrelevant. They do as they please.
22 posted on 08/24/2022 8:53:20 AM PDT by TexasGunLover
[ Post Reply | Private Reply | To 4 | View Replies]

To: Tell It Right

How? By ‘executive order’?

Since when does an order by the chief executive affect anyone outside the executive branch of the government?

If I was a banker I would need to know how they expect me to balance my books


23 posted on 08/24/2022 8:53:40 AM PDT by Mr. K (No consequence of repealing obamacare is worse than obamacare itself)
[ Post Reply | Private Reply | To 1 | View Replies]

To: kiryandil

It’s some power hungry fool in the White House doing this and Biden gets the blame ,LOL


24 posted on 08/24/2022 8:53:54 AM PDT by butlerweave
[ Post Reply | Private Reply | To 9 | View Replies]

To: Tell It Right

any guesses on total costs?


25 posted on 08/24/2022 8:53:56 AM PDT by joshua c (where did my tagline go? if you see it please call someone else. i was tired of it.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Tell It Right

Should have never been allowed to get to this point. The “no bankruptcy allowed!” on student loan debt, having the .gov hold all the notes while the schools did not, and the push to give a college education to everyone led to this.

The GOP had multiple opportunities to capitalize on this issue, but did nothing and will lose again.


26 posted on 08/24/2022 8:54:03 AM PDT by redgolum (If this is civilization, I will be the barbarian. )
[ Post Reply | Private Reply | To 1 | View Replies]

To: Tell It Right

This isn’t even legal for an EO. It won’t stand up in court but the optics will be ugly on the GOP for fighting it.


27 posted on 08/24/2022 8:54:26 AM PDT by IllumiNaughtyByNature (The kernel of our firm's job is to go with lots. - tnlibertarian job offer letter)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Tell It Right

Also, will it show up on a credit report that said debt was forgiven? If so, I would never hire that person.


28 posted on 08/24/2022 8:54:38 AM PDT by dfwgator (Endut! Hoch Hech!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: dfwgator

I believe it is now, but I’m sure the Dims will at least try to pretend to make it not taxable income so they can blame the Republicans when their sheep college liberal arts degree holders (no offense to MBA holders) fuss about paying taxes on a gimme.


29 posted on 08/24/2022 8:54:42 AM PDT by Tell It Right (1st Thessalonians 5:21 -- Put everything to the test, hold fast to that which is true.)
[ Post Reply | Private Reply | To 20 | View Replies]

To: TexasGator

“Basically taxes from plumbers are paying the debts of bad lawyers.”

What’s with all these sleazy attorney ads on the Camp Lejune toxic situation ?

Sounds like the corrupt Senate passes a bill that created 40% take for their fellows lawyers. Why does this matter even need a lawyer? Why can’t the military powers just distribute the benefits to veterans and their families?

The MSM will not do ONE STORY about this fraud by lawyers. Look at all the ad revenue pouring into the TV station and network coffers ????Basically taxes from plumbers are paying the debts of bad lawyers.


30 posted on 08/24/2022 8:54:51 AM PDT by George from New England
[ Post Reply | Private Reply | To 15 | View Replies]

To: Tell It Right

The article didn’t mention how much this was going to cost.


31 posted on 08/24/2022 8:55:13 AM PDT by McCarthysGhost (q)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Tell It Right

And don’t you dare ask why the bill for replacing that worn out damned washer on your kitchen faucet cost you $200.....

Them DEI’s need some RELIEF!


32 posted on 08/24/2022 8:55:44 AM PDT by Gaffer (Infidel, and proud of it!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Tell It Right

The next thing you’ll hear from the usual suspects is this: “I’ve got $100,000 in student loans! This isn’t nearly enough! I demand more!!”


33 posted on 08/24/2022 8:55:45 AM PDT by alancarp (George Orwell was an optimist.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Mr. K

This will probably apply to the student loans changed after Obama made them all gubment loans, not gubment backed loans from banks like older student loans were.


34 posted on 08/24/2022 8:55:57 AM PDT by Tell It Right (1st Thessalonians 5:21 -- Put everything to the test, hold fast to that which is true.)
[ Post Reply | Private Reply | To 23 | View Replies]

To: Tell It Right

35 posted on 08/24/2022 8:56:36 AM PDT by CivilWarBrewing (Get off my back for my usage of CAPS, especially you snowflake males! MAN UP!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Tell It Right
Hopefully this will backfire on Brandon from both directions:

$10,000 is too little for the person with $150,000 debt for their Gender Studies Masters degree, and too much for the folks who worked hard and scrimped and saved to pay their own way through college.

36 posted on 08/24/2022 8:57:37 AM PDT by Yo-Yo (Is the /Sarc tag really necessary? Pray for President Biden: Psalm 109:8)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Tell It Right

College educated? reniggers.


37 posted on 08/24/2022 8:58:10 AM PDT by Leep (Hillary will NEVER be president! 😁)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Tell It Right

When you have a government that doesn’t need votes, it can do whatever it wants.


38 posted on 08/24/2022 9:00:19 AM PDT by Telepathic Intruder
[ Post Reply | Private Reply | To 1 | View Replies]

To: Tell It Right

“Announced.”

Did he appear? It doesn’t sound like it.


39 posted on 08/24/2022 9:00:28 AM PDT by John W (W)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Tell It Right

The moratorium on the student loan repayments is now extended through the end of 2022. That should be worth a few more Dem votes in November.


40 posted on 08/24/2022 9:00:33 AM PDT by NautiNurse (Ron DeSantis is Top Gov)
[ Post Reply | Private Reply | To 1 | View Replies]


Navigation: use the links below to view more comments.
first previous 1-2021-4041-6061-80 ... 121-126 next last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson