News Headline bait
Are you saying that those 800,000 people don't exist or....what exactly?
Breaking News: Biden admin to forgive $39 billion in student loan debt
- Thread starter Seoul Gleou
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Are you saying that those 800,000 people don't exist or....what exactly?
To me it's kind of like if you have a bucket of water with holes in the bottom. Before refilling the bucket, you plug the holes first, not the other way around.
So i think it would make sense to reform the system first. Once it's fixed, you can then have a discussion of who's student loans should be forgiven and what the conditions are.
Nigerianwonder
Superstar
Sorry to break it to you. The very system that preserving the status quo in punishing people who decided to go school and pursuing education is the same system that promotes the culture you critiqued.
"What about community college, and scholarship" like folks aren't doing these things.
"Major in STEM", I know plenty of people in doing it while these jobs are outright trying to pay their employees less.
Many states have programs that pay the majority of tuition if you go to a state school and maintain a decent GPA. I know New york just launched a free college tuition program Tuition-Free Degree Program: The Excelsior Scholarship
I know Florida has bright futures program that pays full tuition for any high schoolers going to state colleges that maintain a 3.0 or above. Programs like this exist all over the country. There is no excuse. folks dont take advantage of these resources. A lot of yall with loans failed also out of school and didnt even graduate. Thats your problem not mine.
People have been going to community college and taking scholarships for decades, tuition has increased that amount drastically the last 7 years. Some states have pell or what not, the loan amount is still bad. Also bring to question, Why should people encure debt to go get educated. In a society "that values education"?
You talk about I set asides x,y,z amount of money for your kids, but it's not going towards them, it's going to towards the college. Imagine people not having to pay 30K of loans and that money towards building something good.
But your argument is because I had to do it, then everyone has to do it. Peak unintellectism.
But that's not how human nature works. People are refusing to fix the system - Bernie was pushing hard for free public college to the point that even Clinton adopted it partway as par tof her platform. And yet there still hasn't been enough momentum behind it to make it happen. So those who can push for the little measures that can be taken to get done, because that highlights how big the problem is.
The main point of student loan relief isn't to help X number of students, though that is a benefit. The main point of student loan relief is to focus attention on how fukked up the student loan system is and how clearly something needs to change.
Just tuition? The average cost of room and board at public colleges is now $50,000 for four years, and it's much higher in some states.
King Harlem
Superstar
Appreciate the answer.Because it’s not legislation. Basically they audited the system and determined that there were large amounts of people not getting proper credit for how they were paying. This has been in play for a while and is the first phase of course correction. For some it will cancel the remaining balance and for others it will get them closer to forgiveness.
IDR Waiver Wraps Up: Next Steps For Student Loan Borrowers - NerdWallet
As of Jan. 16, 2025, 1.45 million student loan borrowers got forgiveness through the one-time IDR account adjustment. If you didn’t receive forgiveness this time around, apply for an IDR plan to earn credit.www.nerdwallet.com
I Really Mean It
Veteran
got an email saying that my loan will be forgiven. if this goes through, it’ll be the one good thing i’ll give biden credit for.
cautiously optimistic.
cautiously optimistic.
Shouldn’t be much of an issue process wise.
Nigerianwonder
Superstar
If you were not in college wouldn't you have to pay for an apartment or place to live? Why should anyone have to pay your rent? You can stay off campus too.
I Really Mean It
Veteran
Mister Terrific
It’s in the name
MF you clearly don’t listen, I told you I don’t have student loan debt. I was a lucky enough to find a company that covered my college expenses because as was explained to me they were losing top management candidates.
You wanted to come in here like a typical immigrant flexing on Americans who are struggling when the majority of Americans support debt forgiveness because it’s the right thing to do.
Several racial advocacy groups have cheered Biden's decision as a "step in the right direction."
"Approximately one in four Black Americans have negative net worth — meaning their total debt exceeds their total assets," said the civil rights group National Action Network in a statement. "The administration expects the first $10,000 of debt relief will move over half a million Black Americans from a negative to a positive net worth."
More Black students take out loans than white students: 71% compared to 56%, according to the research organization Education Data Initiative.
Black college graduates owe $25,000 more in student debt on average than white graduates, the Department of Education found. And four years after graduation, 48% of Black students owe an average of 12.5% more than they borrowed, according to the Education Data Initiative.
MORE: Biden's student loan move shaped by intense political pressure, barrage of GOP criticism
Black students make up 72% of Pell grant recipients, according to the DOE.
A typical Black borrower will see his or her loan balance cut nearly in half and more than one in four Black borrowers will have their balance forgiven, according to the White House.
Black women, in particular, carry a disproportionate burden of student debt.They hold nearly two-thirds of the nearly $2 trillion outstanding student debt in the U.S., according to data from the Census Bureau.
About half of Latino borrowers will have their entire federal loan debt forgiven thanks to the $10,000 loan cancellation plan, according to higher education research and advocacy group Excelencia in Education.
"Because of racial disparities in intergenerational wealth, Black and Latino students aren't just more likely to need to borrow student loans to go and get an education, but we also know that predatory for-profit colleges that cost more to attend also target Black and Latino populations around the country, which results in many Black and brown borrowers having larger balances," Taylor of National Consumer Law Center said.
Biden's loan forgiveness plan to heavily impact Black borrowers
President Joe Biden's loan forgiveness plan will heavily impact Black borrowers, as well as other borrowers of color.
abcnews.go.com
Take your c00nery somewhere else.
