Posted on 08/24/2022 6:18:56 AM PDT by Red Badger
It doesn't.
Even some Democrats are saying this is unconstitutional....................
This is all about the Dims trying to keep the millennials from turning against them in droves. Imagine how much they’d hate the Dims spending the rest of their lives paying off the debt for their worthless indoctrination brainwashing them to be good Dim voters.
Buying votes.
Took me fourteen years to pay back my student loans.
Where’s my check?
That is exactly why obumber federalized student loans.
This is taxation w/o representation as these costs are passed along with no votes in Congress.
What about all the new little freshmen who will take out new loans this year and in the future. Will they get forgiven also.
I suspect it’s gonna piss off more people than it makes happy.
Imagine having paid off your student loans last year only to see this......or like me and millions of others, never having gone to college....now I’m on the hook for some lazy ass college student that’s living in their grandparents basement choking on a bong student loan debt.
I’m waiting for the “students” to say, “But my student debt is $100,000! Only a measly $10,000 relief? Wah!”
The requirement should be that they have an actual degree from an accredited school and that they graduated.
I think the powers that be are doing everything they can to push people into reacting so they can PUSH BACK.
I agree with you that it’ll piss off more than it’ll make happy. But IMHO the Dims are scared of their loyal millennial voter base getting unhappy with their Dim indoctrination.
“Where’s my check?”
You’ve heard of being “grandfathered in” right?......well your “grandfathered OUT”.
OK ... accounting question: to pay off a student loan that is underwritten by the Feds, the Fed accountants issue a credit to the loan account for the balance due thereby reducing the balance to zero. Now good accounting practices require that a charge (debit) be posted to some other Fed account. I wonder which account is hit with the charge ... the general fund? the IRS? Whoever it is is now going to have less money than they had yesterday. That can’t sit well with some department managers.
Agreed.
From what I understand they’re targeting loans that were for -for profit schools, such as ITT that the government destroyed.
Bet they will owe tax on that 10k. That will have a long term credit impact too. Those who think this will free them up to get a mortgage or car loan may very well be in for a big surprise.
The 125k income limit is way too high. The avr salary in the US is between 50 to 58k. Wasn’t the stimulus income limit 75k?
Biden already did that.
Correct.
This will add $300 Billion to the Fed debt and does not sit well with either party in Congress..............
Will this be family income or individual income? What if your spouse makes a million dollars a year?
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