From Bloomberg News reporters Justin Sink and Akayla Gardner:
President Joe Biden on Friday announced plans to cancel student debt for about 55,000 public sector workers, as his administration pushes to zero out balances for more people in the final weeks of his administration.
The move — which represents the cancellation of $4.28 billion owed on federal loans — pushes the total number of individuals who have received relief under Biden administration programs to nearly 5 million, the White House said. In total, about $180 billion has been forgiven.
Thanks Biden
Now do the rest, coward. We’re literally about to descend into fascism, who cares what a corrupt Supreme Court says?
Shame he didn’t do it a few months ago.
Can’t trump just reneg on this? I am not American, but I thought Biden canceled a bunch already and had to walk it back
He can forgive federal loans of people with government jobs easier. To do it for people that don’t have public sector jobs he needs congressional approval, and they fought back hard on that when he tried it. I don’t believe they’d be able to unforgive the debts, but IANAL.
Depends on the definition of “being able to”:
(IANAL, but those two are)
I can only speak from across the pond, but that’s likely the strategy. It has no downsides for the current administration - but the incoming administration either has to cancel it and look like the shitheads (not that they seem to care about that), or run with it to save face, and try and find the budget for it.
He announced a broad cancellation that was going to happen months in the future, and the courts paused and then later said it wasn’t allowed. If it had progressed very quickly it would have been harder to block. One could argue it was intended to give the court a chance to block it.
This current forgiveness is an executive order, so if it’s not completed by the time Trump is the executive he can stop it easily.
Also even his repayment plan was sued and blocked :/
Blocking the SAVE plan is an absolute scam. “Sorry, not scamming students is unconstitional”
This is great! But is it means tested?
I just don’t want any rich kids getting free school. Those damn rich kids and their student loan schemes.
No… And this has nothing to do with Biden either beyond him allowing doe do its job as required by law.
Anyone who works at a qualified public interest job is a eligible for forgiveness after 120 payments.
There are a lot of lawyers with massive student loans who work for fed gov making over 100k who benefit from this. 10 years wipe loans clean them go into private to make the real money.
We are literally funding training of the owner class’ foot soldiers
But right brain rot is hurt becuase nurses or social workers get the benefit. Tells you what you need to know where they got their info from.
This is spot on. And honestly, public service workers make so little compared to industry, it really doesn’t matter if they’re from a wealthy family or not - if they (public workers) have student loans, the forgiveness is deserved.
10 years can be difficult to get. I’ve known people who work for non-profits for 5 years or more, only to be let go because grant money was drying up.
Rich kids don’t have student loans
That’s the joke, I think
So because a couple of rich kids get free school, literally thousands of others can go get fucked. Thank God we stopped those 3 rich kids from getting free education.
That’ll show those rich assholes who’s boss.
Who cares about all the collateral damage when you can stick it to some rich kid who… Checks notes… Can just pay for it anyway like it never mattered in the first place. Meanwhile, poor people have to end up with 3 jobs just to make the interest payment.
You’re a clown and a fool.
I think the comment you were answering is sarcastic.
Perhaps, but means testing is a Republican dog whistle that people will belt out with their full chest.
deleted by creator
