White House to cancel up to $20,000 in debt relief for Pell Grant recipients
- Thread starter cigaretteman
- Start date
The right does these sort of political moves too, but he's not wrong. I don't see how it's constitutional to do this by executive order.
We shouldnt have shutdown anything except nursing homes. Trump shouldn’t have listen to Fauci
No i am blaming the dumbass in office who is doing this...there is no way in hades anybody else should be paying for somebody's education (parents withstanding)....i paid my loans off no way should we have to pay for somebody else's!
FACT SHEET: President Biden Announces Student Loan Relief for Borrowers Who Need It Most - The White House
A three-part plan delivers on President Biden’s promise to cancel $10,000 of student debt for low- to middle-income borrowers President Biden believes that a post-high school education should be a ticket to a middle-class life, but for too many, the cost of borrowing for college is a lifelong...
My nephew just started his job this month after college. $10K signing bonus and $90K per year. He'll get $10,000. He doesn't need any relief or a leg up. Even he think's it a joke.
That doesn't sound like a complete shut down of the economy (whatever that means), much less one by the federal government, which gave those grants.
This is only on federal loans, right? We have about 5K left on my wife's loans but they're through Iowa Student Loan so I'm assuming they don't apply. Oh well.
Biden Has Power To Cancel Student Loans For Every Federal Borrower, Attorneys General Say
These attorneys general say President Biden has the legal authority to enact wide-scale student loan cancellation.
www.forbes.com
Hindsight is always 20/20. And I highly doubt Trump listened to Fauci on this. Trump doesn't listen to anybody. You just can't bring yourself to ever blame Trump even just a little bit.
They love to see people suffer. That's who they are.
Letting people keep their own money instead of taking more of it from them isn't buying votes.
I get the base instinct that it is troubling that people who don't "need" assistance get it. But that's a reality of any large scale program or rule. You will exclude people who need it and include people who don't. Are people willing to pay for the entire army of government workers that would be needed to ensure that only those who "need" relief get it? That would require resources that would eat through any savings.
Sounds like welfare for the less ambitious, another great policy decision that negatively amortizes
So here's my question on that. If this had been in the form of a tax credit, would you feel the same way? For example, in Trump's 2017 tax plan it increased the amount of the child credit. Do you feel that way letting people keep their own money or buying their votes?
Chaz, I really don’t know if slow Joe has the authority. Try not to take everything so personal. It’s something that will be discussed.
Based off my office today, there are some pretty pissed off union members. This may have the opposite effect that Biden was wanting.
Biden Has Power To Cancel Student Loans For Every Federal Borrower, Attorneys General Say
These attorneys general say President Biden has the legal authority to enact wide-scale student loan cancellation.
www.forbes.com
And the CTC was expanded after the first distributional tables showed big, middle class families getting net tax increases after the elimination of personal exemptions. That didn't go over too well in republican circles and so money was handed out in the form of increased CTCs and higher eligibility limits.
Again it will be discussed. They might be correct or they might be wrong. See Russian interference.Biden Has Power To Cancel Student Loans For Every Federal Borrower, Attorneys General Say
These attorneys general say President Biden has the legal authority to enact wide-scale student loan cancellation.
I suspect many will be pissed off because it’s seen as a giveaway and others pissed off because the giveaway isn’t large enough.
Historically I would've agreed with everything you said here but I've recently come to the conclusion that sacrificing vacations is a terrible precedent.
Your kids would've probably learned more about life by traveling then going to college.
The underlying problem is the cost of college. It's become a f****** joke that some small, podunk college is charging upwards of 40 or 50,000 for a degree - and the reason they can is because of stupid loans being given out to cover it.
It's a shell game that just needs to be swept off the table and start over.
As someone else said - this is a good first step, but if we don't address the underlying problems then it's just a band aid over a gushing wound.
Sort of an aside, but how much was the 10k sign on bonus taxed?
As someone who's received similar 'bonuses' I end up being more pissed about the taxes than I'm happy about the bonus.
Should be taxed like ordinary income. This shouldnt piss you off overall.
Not federally and states will likely exempt if they haven't already.
Yes I know, never a surprise, but it's a glaring reminder how much of 'your' money is gone, just like that
'snappingfinger.gif'
Spending $500B or whatever the end amount is should be going through the Legislature...Executive over reach at a minimum.
If this ends up being legit….might as well get rid of congress
Completely different. Government forced these businesses to shut down. No one forced these people to get loans. You knowingly signed the loan docs, pay the damn bill. Just another liberal vote buying giveaway.
You people have it all wrong. Not only is this good for all the the people who get the (illegal) free debt forgiveness, it is good for everyone else because it's going to reduce inflation, just like the Inflation Reduction Act. That is how this works, when the government spends billions and trillions of dollars, then inflation goes down. It worked with the pandemic stimulus spending, so it is sure to work again.
