President Biden reportedly spoke with Democratic lawmakers about his openness to forgiving tens of thousands of dollars in student loan debt in the coming months, according to CBS and the Washington Post.
Flirts!!!
“ only recently finished paying off his late son Beau’s outstanding student debt,”
Parents are often required to be co-signers of student loans, but I’m surprised the debt wasn’t Beau’s wife/estate.
Of course, Joe probably just did the decent thing that was best for his family.
ETA grammar
I taught at the university level for most of career (excluding post-docs). Students pay fees that are outrageous for benefits of dubious help. Universities can’t raise tuition in some cases (e.g.,state level) so they generate revenue from “student services.”
Also, student loans should not have interest rates beyond what’s offered for banking accounts…
Look how concerned Barnabas, er, Susan Collins is…
The last forgiveness that was extended was actually one that students were promised when they took the loans. Take specific jobs, work in them for a set amount of time, have so much forgiven each year. The largest was probably the Public Service Loan Forgiveness program was started in 2007. It had its issues. And then T**** got ahold of it and turned it into a total shit show.
Now, Biden admin is working on fixing it.
So forgiveness, but not a giveaway. I worked for a school district and knew a number of teachers who used it.
My son took advantage of the program to get his degree as a junior high math/science and high school chemistry teacher. He had jobs already lined up But with Scottie in charge and Act 10, he decided it wasn’t worth dealing with it and went into the private sector working in labs. It’s a damn shame. He had worked with kids since he was in high school and could connect with even the most difficult student
So, he pays off his loans and works at a job that he really doesn’t like all that much.
I haven’t paid since he’s been president, so I’ll give him the benefit of the doubt. Strategy makes sense. He’s been working on Joe and Kyrsten up until now, but it’s time to give up. The courts might screw up forgiveness, so delay hedges bets and keeps the loans from coming back in the middle of a recession.
Now it’s time for him to shift to more executive actions, including broader loan forgiveness. I’m hoping he pushes on climate as well. He is going to want to act on multiple fronts before the midterms, and if congress is out, then he needs to do everything he can on the executive side.
If one want to feel old and/or bad, try discussing what tuition and books cost when you were an undergrad with someone who still is in college. I had only two years of loans, and I think it was something like $30-35 a month. When I graduated I wasn’t making the big bucks, and it was hard, but not unmanageable. I lucked out one year and got a good bonus. I paid off my loan early, and then kept paying my savings account half of what I was paying monthly on my loans. Felt good to have some savings.
I think he should do it just so that he can amply lube his Corvette with Republican bile and spittle and fill the Whitehouse stemware with their tears.
Wasn’t DeVos responsible for this? Grrrr.
I’m at a loss for words…
I paid back $50/ month for 10 years. I taught in a school which would have made me eligible for loan forgiveness. The fat, dumb guidance counselor never suggested it or was too busy eating to know about it.
The current Jeopardy champion commented after her first win that she had paid off her student loans with her $32,000 win. Of course, being Canadian, it was a little less than a US student. Plus, her Jeopardy winnings are in USD and will go a lot further in Toronto, Ontario!
Well, he’s learned his lesson, ya know.
The. “Holy Hand-grenade” part of MPATHG was prescient.
Had Biden done this right away, he’d have reaped political benefits for keeping a promise. Doing it too close to the midterms will be seen as pandering for votes and could easily backfire politically, angering opponents while not mobilizing supporters. But why is no one proposing the less politically costly and perhaps equally effective solution of eliminating all interest, even if principal still needs to be repaid? Compound interest is what kills people, even for the comparatively low interest (but still way higher than return on savings) loan programs.
Holy shit and all the WTFs in the world.
Did I mention…
Oh my.
My semester tuition was less than $300. I can’t remember the costs of textbooks other than the edition of Campbell’s Biology was a staggering $50. The only fees were for the labs. This was 1973.
ETA. I supported myself through grad school by working as a teaching or research assistant. My weekly splurge budget was 25 cents (usually spent on a bag of Cheetos or an ice cream bar). I made extra by mowing yards.
I never had any student debt.
I doubt it’s “prescience” on MP’s part, so much as a regression on the Russian’s side. “Sanctified” weapons, blessed by the Deity to smite thine enemies (to little bits), has a long, notorious tradition. If God is on “your” side, how could you fail? And if you die, you died in Their grace, for Their cause (which oh so conveniently coincided with the local liege-lord’s cause).