Trump team eyes quick rollback of Biden student debt relief

[Morrison71]

SIAP

https://www.politico.com/news/2024/11/26/trump-rollback-biden-student-debt-relief-00189841

President-elect Donald Trump is poised to pull the plug on President Joe Biden's yearslong push to cancel student debt for tens of millions of people as Republicans sweep into power in the coming months.

Trump transition advisers and outside allies have been discussing ways to quickly unwind the various Biden-era initiatives that offered new or easier paths to loan forgiveness for borrowers, according to two people familiar with the discussions.

The move would be the culmination of nearly four years of attacks by GOP lawmakers and attorneys general on Biden's student debt relief policies. On the campaign trail, Trump slammed the loan forgiveness efforts — which total hundreds of billions of dollars — as "vile" and illegal. Yet his team faces a daunting challenge: A series of recent court decisions has left the federal government's $1.6 trillion student loan portfolio in disarray, with millions of borrowers stuck in limbo.

 

[RicoSuave102954]

SIAP

https://www.politico.com/news/2024/11/26/trump-rollback-biden-student-debt-relief-00189841

President-elect Donald Trump is poised to pull the plug on President Joe Biden's yearslong push to cancel student debt for tens of millions of people as Republicans sweep into power in the coming months.

Trump transition advisers and outside allies have been discussing ways to quickly unwind the various Biden-era initiatives that offered new or easier paths to loan forgiveness for borrowers, according to two people familiar with the discussions.

The move would be the culmination of nearly four years of attacks by GOP lawmakers and attorneys general on Biden's student debt relief policies. On the campaign trail, Trump slammed the loan forgiveness efforts — which total hundreds of billions of dollars — as "vile" and illegal. Yet his team faces a daunting challenge: A series of recent court decisions has left the federal government's $1.6 trillion student loan portfolio in disarray, with millions of borrowers stuck in limbo.

Bidens "Illegal" push to cancel student debt needs to be rolled back and never see the light of day again.

 

[Moral]

Not going to need that student loan debt forgiven with the impending low egg prices.

 

[Huey Grey]

Can't wait for Trump voters to suddenly figure out that they have to start repaying them again.

 

[OutbackBowl2017]

I’ve got no problem having the gov pay for college as long as student passes each class and the student commits two years to the country in some capacity….Army, Navy, Air Force, or Marines, or Space X, or Coast Guard. Some form of government job as a way to pay back free schooling while also getting paid for working for the government. Nothing is free in this life.

Don’t want to do that? Then pay your own way via loans or work while you go to college like most people.

 

[RicoSuave102954]

Can't wait for Trump voters to suddenly figure out that they have to start repaying them again.

The whole idea of forgiving student loan debt was a scam by Biden to buy votes. Turns out it backfired on the DNC.

 

[Morrison71]

I’ve got no problem having the gov pay for college as long as student passes each class and the student commits two years to the country in some capacity….Army, Navy, Air Force, or Marines, or Space X, or Coast Guard. Some form of government job as a way to pay back free schooling while also getting paid for working for the government. Nothing is free in this life.

Don’t want to do that? Then pay your own way via loans or work while you go to college like most people.

I paid zero for my bachelors degree….

 

[OutbackBowl2017]

I paid zero for my bachelors degree….

Parents or GI Bill?

 

[Morrison71]

Parents or GI Bill?

Neither

 

[Colonoscopy]

Not going to need that student loan debt forgiven with the impending low egg prices.

Lots of people eat 1000s or eggs every day.

 

[soonerinlOUisiana]

Can't wait for Trump voters to suddenly figure out that they have to start repaying them again.

Paid mine off 10 years ago.

 

[Bank of Hawk]

How we gonna get the new batch of strippers if they have other sources to pay their student loans? #TRUMP69STEPSAHEAD

 

[SA_Hawk]

Can't wait for Trump voters to suddenly figure out that they have to start repaying them again.

Everyone should already be repaying them.

 

[RicoSuave102954]

Can't wait for Trump voters to suddenly figure out that they have to start repaying them again.

Unlike Biden/Harris supports the vast majority of Trump supporters have J-O-B-S.

 

[binsfeldcyhawk2]

I’ve got no problem having the gov pay for college as long as student passes each class and the student commits two years to the country in some capacity….Army, Navy, Air Force, or Marines, or Space X, or Coast Guard. Some form of government job as a way to pay back free schooling while also getting paid for working for the government. Nothing is free in this life.

Don’t want to do that? Then pay your own way via loans or work while you go to college like most people.

Agree but I'd add that the degree being pursued should be a factor as well.

 

[Scruddy]

Can't wait for Trump voters to suddenly figure out that they have to start repaying them again.

Oh the horror, repaying your debts! Why is this such a scary prospect to democrats? Whether it's student loans or making right on message board bets, it seems like the left is petrified of paying what they owe..

 

[NorthEndzoneCrew]

Oh the horror, repaying your debts! Why is this such a scary prospect to democrats? Whether it's student loans or making right on message board bets, it seems like the left is petrified of paying what they owe..

I would agree, same thing with Trump’s PPP handouts…those NEVER should have been forgiven…

 

[Ferentz_Fan]

The entitlement...

 

[Scruddy]

I would agree, same thing with Trump’s PPP handouts…those NEVER should have been forgiven…

1000%

I actually think many "in the know" took those loans with zero expectations of ever having to pay them back.

 

[pjhawk]

This is another "issue" where low information voters that have been blaming Biden for the implementation issues per loan forgiveness and the alternative payment plans are going to quickly find out that Trump and the Republicans are going to be far worse for them.

 

[RagnarLothbrok]

I’ve got no problem having the gov pay for college as long as student passes each class and the student commits two years to the country in some capacity….Army, Navy, Air Force, or Marines, or Space X, or Coast Guard. Some form of government job as a way to pay back free schooling while also getting paid for working for the government. Nothing is free in this life.

Don’t want to do that? Then pay your own way via loans or work while you go to college like most people.

I agree with this.

This is probably unpopular, but I don’t agree with student loan forgiveness. If you want to apply for some type of assistance program, where loans can be reduced or wiped out based on accepting a needed role, community service, or a two-year commitment to the military, peace corps, etc., then I am fine with that.

Frankly, I think college is a scam for a lot of people. We need to stop telling young people they have to go to college to be successful. That’s just not true. My (no pic) girlfriend doesn’t even have an AA degree but she just earned her series 7 license in finance. In short, companies don’t give a shit you got a degree in gender studies or basket weaving. They care what skills, experiences, and licenses you possess.

A lot of young people have no business going to college. We need to start being honest with them about better alternative options because, no, it is not the government’s responsibility to pay for your post secondary education, especially for those who are mainly there to just drink and drug and try to bang as many coeds as they can while racking up an impressive 1.9 GPA in computer science or some shit.

 

[the24fan]

I agree with this.

This is probably unpopular, but I don’t agree with student loan forgiveness. If you want to apply for some type of assistance program, where loans can be reduced or wiped out based on accepting a needed role, community service, or a two-year commitment to the military, peace corps, etc., then I am fine with that.

Frankly, I think college is a scam for a lot of people. We needed to stop telling young people they have to go to college to be successful. That’s just not true. My (no pic) girlfriend doesn’t even have an AA degree but she just earned her series 7 license in finance. In short, companies don’t give a shit you got a degree in gender studies or basket weaving. They care what skills, experiences, and licenses you possess.

A lot of young people have no business going to college. We need to start being honest with them about better alternative options because, no, it is not the government’s responsibility to pay for your post secondary education, especially for those who are mainly there to just drink and drug and try to bang as many coeds as they can while racking up an impressive 1.9 GPA in computer science or some shit.

agreed.
Im pushing my teenage girls hard into getting a technical skill. My oldest likes graphic design. A CC option.
my middle daughter wants to be a flight attendant.
There are choices out there that don't require massive debt before they even get started in life.

 

[Titanhawk2]

SIAP

https://www.politico.com/news/2024/11/26/trump-rollback-biden-student-debt-relief-00189841

President-elect Donald Trump is poised to pull the plug on President Joe Biden's yearslong push to cancel student debt for tens of millions of people as Republicans sweep into power in the coming months.

Trump transition advisers and outside allies have been discussing ways to quickly unwind the various Biden-era initiatives that offered new or easier paths to loan forgiveness for borrowers, according to two people familiar with the discussions.

The move would be the culmination of nearly four years of attacks by GOP lawmakers and attorneys general on Biden's student debt relief policies. On the campaign trail, Trump slammed the loan forgiveness efforts — which total hundreds of billions of dollars — as "vile" and illegal. Yet his team faces a daunting challenge: A series of recent court decisions has left the federal government's $1.6 trillion student loan portfolio in disarray, with millions of borrowers stuck in limbo.

You mean Biden's "I know it's unconstitutional, but I will do it anyway" plan? Isn't that good news?

 

[RagnarLothbrok]

Agree but I'd add that the degree being pursued should be a factor as well.

YES!!!

Let’s be real. If you are going to college to earn a degree in gender studies, psychology, political science, philosophy, or shit like that with no real purpose or plan, then you are just wasting your time and money. And if that is someone’s “plan” for college, so they can get the frat party, coed experience, great. Just don’t expect taxpayers to foot the bill.

 

[onlyTheObvious]

Student loans should only be for the dollar amount it would take to go to community college the first two years and an instate public university the second two years.

Get private loans for the rest and let them be forgivable via bankruptcy. Time for these private schools to spend some of their endowment on tuition relief.

Grinnell College has over a billion dollars as an example.

 

[RagnarLothbrok]

agreed.
Im pushing my teenage girls hard into getting a technical skill. My oldest likes graphic design. A CC option.
my middle daughter wants to be a flight attendant.
There are choices out there that don't require massive debt before they even get started in life.

This is more male-dominant, but a lot of young people don’t know how profitable skilled labor is. Electricians (i.e.) can make a crap ton of money, especially when they start earning time and a half on OT pay. I mean there are some journeymen making six figures right now if they are willing to work a little OT. Shit, an entry-level lineman can start out making $30-$40 hr if he/she isn’t afraid of heights.

Good jobs that don’t require $60,000 of debt to get started.

 

[Finance85]

I would agree, same thing with Trump’s PPP handouts…those NEVER should have been forgiven…

Apples and oranges.

There's that pesky 5A and the takings clause. Governments can't just shut down businesses without having to pay for it.

 

[Rifler]

How we gonna get the new batch of strippers if they have other sources to pay their student loans?

Thank you,.. this is concerning.

 

[WDSMHAWK]

Another failure of Kamala's campaign. She should have been highlighting the benefits of Biden's student loan forgiveness plans.

 

[onlyTheObvious]

Another failure of Kamala's campaign. She should have been highlighting the benefits of Biden's student loan forgiveness plans.

Guessing her team thought otherwise.

 

[abby97]

I paid zero for my bachelors degree….

And after reading your posts, it appears you got everything you paid for.

 

[Chuck C]

This is more male-dominant, but a lot of young people don’t know how profitable skilled labor is. Electricians (i.e.) can make a crap ton of money, especially when they start earning time and a half on OT pay. I mean there are some journeymen making six figures right now if they are willing to work a little OT. Shit, an entry-level lineman can start out making $30-$40 hr if he/she isn’t afraid of heights.

Good jobs that don’t require $60,000 of debt to get started.

CSB

I’m an electrician. A couple of years ago, I worked out in Gloucester, MA for a month straight. It’s under Boston’s Local 103. $63 an hour plus another $30 an hour in benefits. About a 90-95 dollar an hour package. We didn’t know until we got there, that Local 103 doesn’t have OT in their contract. Everything after 8 hours is double time, including Saturdays, Sundays and Holidays. We were working 7-12’s for 32 days straight. The one week over Labor day, I had 32 regular hours and 48 double time hours. A little over $7000 check for that week. There’s definitely money to be made out there for skilled labor.

 

[HawkMachine]

Maybe people should think extra hard before choosing a college/major.

It's called a loan for a reason.

 

[RagnarLothbrok]

CSB

I’m an electrician. A couple of years ago, I worked out in Gloucester, MA for a month straight. It’s under Boston’s Local 103. $63 an hour plus another $30 an hour in benefits. About a 90-95 dollar an hour package. We didn’t know until we got there, that Local 103 doesn’t have OT in their contract. Everything after 8 hours is double time, including Saturdays, Sundays and Holidays. We were working 7-12’s for 32 days straight. The one week over Labor day, I had 32 regular hours and 48 double time hours. A little over $7000 check for that week. There’s definitely money to be made out there for skilled labor.

My dad retired at 58 from Baker Electric after 40 years. He’s set for life.

He still wears his threadbare Local 347 tees everywhere.

 

[RagnarLothbrok]

Maybe people should think extra hard before choosing a college/major.

It's called a loan for a reason.

Kids get bad advice these days.

Most of them should be going to a trade school, the military, or full-time work after high school.

 

[onlyTheObvious]

“A lot of that will be forgiven eventually”

Lots of families heard that in Loan office and colleges considered it free money.

Same thing would have happened in housing industry with Harris giveaway. Home prices would have shot up if $20,000 was free.

 

[WDSMHAWK]

Guessing her team thought otherwise.

Look how well that turned out for them.

 

[Chuck C]

My dad retired at 58 from Baker Electric after 40 years. He’s set for life.

He still wears his threadbare Local 347 tees everywhere.

We’ve done some sub contractor work for Baker. Yeah, a young person that gets in when they’re 18-22 should easily have 1-2 million in their pension by their late 50’s.

 

[Moral]

Kids get bad advice these days.

Most of them should be going to a trade school, the military, or full-time work after high school.

The 90s and aughts were so full of college propaganda. Basically the tone was go to college or be a failure.

 

[gohawks50]

I’ve got no problem having the gov pay for college as long as student passes each class and the student commits two years to the country in some capacity….Army, Navy, Air Force, or Marines, or Space X, or Coast Guard. Some form of government job as a way to pay back free schooling while also getting paid for working for the government. Nothing is free in this life.

Don’t want to do that? Then pay your own way via loans or work while you go to college like most people.

I like the idea of some kind of service to "pay" back loans, but don't the armed services already have this available from the GI Bill? I'd like to see some additional community service options in addition to the military for loan forgiveness.