Biden cancels student loans for 150,000 more borrowers
www.nbcnews.com
The latest tranche of debt forgiveness brings the number of people benefiting from student loan cancellations to more than 5 million, the president said.

Summary

President Biden announced student loan forgiveness for 150,000 additional borrowers, raising the total to over 5 million under his administration.

The latest beneficiaries include borrowers defrauded by schools, individuals with disabilities, and public service workers.

Biden emphasized his focus on expanding pre-existing forgiveness programs after his broad plan was struck down by the Supreme Court in 2023.

Conservatives and Trump argue the efforts overstep executive authority and unfairly shift costs.

Biden called the initiative a fulfillment of his promise to reduce financial barriers to education.

    • @CharlesDarwin@lemmy.worldEnglish
      3•3 months ago

      Most likely donvict will make Elon a trillionaire and the dipshits are here for it. Oh and make a few other broligarchs that are already billionaires (which should not even be a thing in this country) even more billions.

      What we should really do is make America great again like the 1950s - very narrowly. Meaning, the top tax rate is 92% for the likes of donvict and his billionaire boyfriends.

      • @SoftTeeth@lemmy.world
        3•3 months ago

        It’s insane how conditioned people are on price fixing.

        The US has used it many times to make necessary adjustments to society throughout our country’s history.

        Rent caps were one of the most influential and positive policies of the New Deal.

        It’s not an inherently bad policy.

        If there is something inherently unethical like overcharging for a need (yes in our modern world being educated is a need to actually participate in society), then it is acceptable for the government to step in and draw the line.

        Student debt should be totally canceled, college should be free, and the government should take a fraction of what was being extorted out of students by predatory loan companies and pay it directly to the schools. Let the unethical loan sharks fucking eat the loss for trying to run a racket. They shouldn’t have more power than the god damn government.

        Same with housing, it’s a public secret that massive housing corps colluse using price fixing algorithms, it’s correct in this situation for the government to step in and force rent caps. Let the unethical slumlords eat the loss. They shouldn’t have more power than the god damn government.

    • @Iceman@lemmy.worldEnglish
      5•3 months ago

      He’s leveled up. Now he’s doing to little to late! Good job Grampa, hope you remember us as we all get to enjoy Trump.

  • @grue@lemmy.worldEnglish
    22•3 months ago

    ITT: liberal apologists getting BIG MAD that the rest of us aren’t buying their spin trying to give credit to Biden for merely enforcing the existing law.

    • @4am@lemm.ee
      17•3 months ago

      The fact that you began this comment with “ITT” makes we wonder if you’re doing a bit or not

        • @Bremmy@lemmy.ml
          1•3 months ago

          That person was wondering about a question and you implied your own bias. Makes taking anything else you say less credible

    • @FabledAepitaph@lemmy.world
      7•3 months ago

      Yeah, I didn’t see anybody else enforcing that law or making sure these people were taken care of. Biden administration stepped in and made them follow the law, which would never have happened otherwise. This is the best he could do after his main plan was shot down by Republicans and the Supreme Court.

      The President isn’t all-powerful in America and only has so much reach–and that’s a good thing when somebody like Trump comes in and wants to be the next dictator.

      • Eugene V. Debs' GhostEnglish
        3•3 months ago

        The President isn’t all-powerful in America and only has so much reach

        Except the SCOTUS ruled otherwise, and Biden can somehow send endless arms to Israel, but not Ukraine.

        Can somehow violate federal laws to build the wall on Mexico “because congress paid for it” but can’t ensure right to abortion.

        At some point, you gotta ask “Why are is the US government able to do horrid things without question, but helping people always has an excuse that prohibits it from being done?”

    • Eugene V. Debs' GhostEnglish
      3•3 months ago

      Liberals would rather treat complying with helpful laws set up a decade ago is a win to secure the vote (if we get to vote ever again) when he failed to cancel debts that he literally set up as a Senator.