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  • $10k cancellation for those making less than $125k annually
  • $20k cancellation for Pell Grant recipients
  • Student loan pause extended until December 31st
  • 5% of monthly income cap on student loan payment (optional?)

Honestly pretty sick for me and my family. Wipes out my debt, my mom's debt, and most of my sister's. Wish we could've gotten more, since there's no good reason not to go to at least $50k, but from a selfish PoV it's hard to complain in the moment

  • gueybana [any]
    ·
    2 years ago

    people with student loans this won’t affect their day-to-day at all, they’ll still need paying their monthly payments.

    Every loan has a period of payment. If total loan amounts are reduced, the monthly payments are reduced.

    if you don’t live in the US how can you say you’re informed enough to deem this not good?

    • HoChiMaxh [he/him]
      ·
      2 years ago

      That's only if you're making the minimum payments, no?

      I'm not sure what special powers living in the US would grant me. Also I did say it's objectively good.

      • gueybana [any]
        ·
        2 years ago

        That’s only if you’re making the minimum payments, no?

        Not sure I follow you here.

        I’m not sure what special powers living in the US would grant me. Also I did say it’s objectively good.

        Have you taken out student loans? Have you taken student loans from the US federal government? This would kind of help in making an observation about the logistics of loan payments.

    • AmericaDelendeEst [any]
      ·
      2 years ago

      Oh wowie slightly reduced payments on my still exorbitant debt I'm so happy thank you lord Biden

      What is this

      • gueybana [any]
        ·
        2 years ago

        yes this means that im blue dog dem, i love biden pls let me suck on ur cock presidente

    • JoeByeThen [he/him, they/them]
      ·
      2 years ago

      Lathe time: Given that you have to apply for it, I can already see this being done in some sort of refinance package that still fucks everyone over.