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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
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To: kristinn

Thanks for that info. Like the Corona payments, no taxable income. So many people are on income-based subsidies, like food and housing and heating etc., that the whole apple cart would be upset if there was some sudden infusion...


81 posted on 08/24/2022 9:19:32 AM PDT by gloryblaze
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To: TexasGator
Basically taxes from plumbers are paying the debts of bad lawyers.

You mean there's actually good lawyers out there? lol

82 posted on 08/24/2022 9:19:46 AM PDT by Night Hides Not (Remember the Alamo! Remember Goliad! Remember Gonzales! Come and Take It!)
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To: Tell It Right

When can we expect the opposition party to challenge this executive action in Federal Court on constitutional grounds?


83 posted on 08/24/2022 9:19:48 AM PDT by Menehune56 ("Let them hate so long as they fear" (Oderint Dum Metuant), Lucius Accius (170 BC - 86 BC))
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To: silverleaf

Something for the 87,000 new agents to get cracking on.


84 posted on 08/24/2022 9:20:30 AM PDT by Night Hides Not (Remember the Alamo! Remember Goliad! Remember Gonzales! Come and Take It!)
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To: Tell It Right

This is just FILTHY


85 posted on 08/24/2022 9:21:45 AM PDT by PGR88
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To: jeffersondem

My husband did the same, but 1981. My dad paid for half.


86 posted on 08/24/2022 9:22:08 AM PDT by madison10 (Eat meat!)
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To: Tell It Right

He didnt cancel sh*t..he’s making people like ME who already pay a crap load of taxes, pay MORE taxes for commie lib douche bags I dont even know to go to commie college to learn that America is evil and racist..and how about people who already paid off their student loans do they get a refund or nah


87 posted on 08/24/2022 9:23:22 AM PDT by Sarah Barracuda
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To: vikingd00d

A lot of crap will show up right after the elections.


88 posted on 08/24/2022 9:24:10 AM PDT by Texas resident ( Let's Go Brandon)
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To: dfwgator

Now THAT would be funny. One way to pay the new IRS employees.


89 posted on 08/24/2022 9:24:26 AM PDT by madison10 (Eat meat!)
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To: nwrep

That doesn’t work in this case. For it to be a tax it would have to go through Congress. This is an Executive Order.


90 posted on 08/24/2022 9:28:39 AM PDT by Little Ray (Civilization runs on a narrow margin. What sustains it is not magic, but hard work. )
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To: Tell It Right

I think it’s time to retire. Why pay exorbitant taxes into a system so that the money can be used to pay off useless, indoctrinated deadbeats that couldn’t empty oil out of a boot with instructions on the heel?

I’ve busted my butt all my life to get in a position where I can live more comfortably, and now they want to steal more from me for this?

Going Galt.


91 posted on 08/24/2022 9:29:02 AM PDT by meyer (FBI = KGB for the DNC; IRS = Gestapo)
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To: olivia3boys

I will send them $10 to $25 a month if they threaten me. They won’t be able to do a thing.


92 posted on 08/24/2022 9:32:46 AM PDT by God luvs America (63.5 million pay no income tax and vote for DemoKrats...)
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To: olivia3boys

And you can’t expect the same 25 year old to be paying a mortgage payment ($300K) while working a job that pays $45K and have enough to raise a family.

Bankruptcy is a price discovery mechanism. The same was said for land purchases and homestead rules. Some did abuse it, many did not.


93 posted on 08/24/2022 9:33:22 AM PDT by redgolum (If this is civilization, I will be the barbarian. )
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To: mware

Of course they will- as they collect billions for their tax free endowments


94 posted on 08/24/2022 9:35:00 AM PDT by God luvs America (63.5 million pay no income tax and vote for DemoKrats...)
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To: Tell It Right

Biden cancels $10,000 in federal student loan debt for most borrowers

As colleges and universities hike tuition by $10,000

JoeB, the ultimate law maker - so who needs Congress? or elections, for that matter?


95 posted on 08/24/2022 9:38:45 AM PDT by PIF (They came for me and mine ... now its your turn)
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To: God luvs America

Correct. $10/mo or likely even $1/mo will prevent wage garnishment or IRS refund offset.


96 posted on 08/24/2022 9:42:19 AM PDT by olivia3boys
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To: Tell It Right

The blue haired leaders of diversity with their Lesbian Bolivian Poetry degrees are happy.
The 8 years they spent getting their degree will seem like time well spent.
I’m sure the 26 year old plumber with 3 kids who has worked since he was 14, will be happy paying the debt of the blue haired large women .


97 posted on 08/24/2022 9:44:04 AM PDT by HereInTheHeartland (Have you seen Joe Biden's picture on a milk carton?)
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To: Tell It Right

Colleges will now raise tuition even more.


98 posted on 08/24/2022 9:50:16 AM PDT by PghBaldy (12/14/12 - 930am -rampage begins... 12/15/12 - 1030am - Obama team scouts photo-op locations.)
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To: T.B. Yoits

“College loans need to be allowed to be discharged in bankruptcy.”

If they did that, declaring bankruptcy become as much a part of graduating as getting your cap and gown. The universities would have offices and advisors for it.


99 posted on 08/24/2022 9:52:21 AM PDT by beef (Let’s go Baizuo!)
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To: beef

Then you limit who gets loans.

You know, like we used to.

I know of people who were not able to get student loans because of their parents credit history and they proposed course of study.

But Bush Jr changed all that.


100 posted on 08/24/2022 9:54:26 AM PDT by redgolum (If this is civilization, I will be the barbarian. )
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