- $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
This strikes me as Biden trying to thread the needle between securing the midterms and not scaring loan collectors.
Like I think he gets thay no one's ever going to pay back their student loans at this point anyway. The loan repayment pause will become de facto permanent because restaring them would be short-term suicide for whichever party is in power, but so long as that ourstanding debt still de jure exists, the loan sharks can keep on getting 17-year-olds to sign on to a $20K per year ponzi scheme.
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No disrespect, but I :doubt: it.
What makes you so sure they'll restart then?
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I mean maybe, but they also said they were going to restart payments this month, and in May, and last October. The midterms will be over by January, so yeah that could be when they decide to drop this particular kayfabe. But if they manage to extend the repayment pause into 2024 they can both make it the Republicans' problem and get a fresh new bit of controversy to fundraise on.
So the question becomes, just where exactly do the Democrats fall on the incompetence - malice spectrum?
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I suppose we'll see. The Dems wanting to slowly defund Covid infrastructure also supports your point, if their ultimate goal is to try and brute force a return to the pre-pandemic politcal and economic status quo.
Knowing the Dems, they'll restart payments in October 2024.
Just hope Brandon brain broke enough to forget he said it when come January
Because he literally said one final time in his tweet, unless he lie, then I welcome this lie
He lies about everything else, why not this?
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the democrats lose the midterms and then blame the republicans for restarting the debt machine even if they're still in power and then we hear all about how we need to :vote: :vote: :vote: :vote: :vote: :vote: for the next two years because life is hell
How are they gonna blame the gop for something that Brandon could do via EO
the same way they keep doing that exact thing and liberals do not question it
The big one going forward is that if you are at 225% of the poverty line for 10 years your loans go away period.
That is roughly 35-40k a year for a single person.