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Author Topic: On student loans, Biden doesn't have an answer yet  (Read 336 times)

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Online mystery-ak

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On student loans, Biden doesn't have an answer yet
« on: January 22, 2022, 07:06:41 pm »
On student loans, Biden doesn't have an answer yet
By Alex Gangitano - 01/22/22 12:00 PM EST

Lawmakers and advocates who have pushed for President Biden to act on student loan forgiveness were left frustrated and disappointed this week when he didn’t answer a reporter’s question on the issue.

Biden was asked during his marathon press conference on Wednesday if he still plans to cancel $10,000 in student loans — which he pledged to do during his campaign — but he didn’t respond.

“We are looking for a clear answer from our president — I for one don’t believe I’ve heard one yet,” said Rep. Cori Bush (D-Mo.), a progressive who has been vocal on fighting the student loan crisis.


Biden has extended the student loan repayment pause until May, giving some relief to borrowers amid record spikes in COVID-19 cases.

But pressure has been building on the president to forgive student debt, especially before the upcoming midterm elections, and broad-based forgiveness has gained support among Democratic leaders including Senate Majority Leader Charles Schumer (N.Y.).

Roughly 43 million Americans owe a collective amount of more than $1.7 trillion in student loans to the federal government.

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https://thehill.com/homenews/administration/590851-on-student-loans-biden-doesnt-have-an-answer-yet
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Offline Hoodat

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Re: On student loans, Biden doesn't have an answer yet
« Reply #1 on: January 22, 2022, 07:09:50 pm »
Answer - If you took out a loan, then pay back that loan, just as you agreed in writing to do.
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Offline Hoodat

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Re: On student loans, Biden doesn't have an answer yet
« Reply #2 on: January 22, 2022, 07:13:35 pm »
Quote from: mystery-ak on January 22, 2022, 07:06:41 pm
Roughly 43 million Americans owe a collective amount of more than $1.7 trillion in student loans to the federal government.

Gee, who were the idiots who allowed that to happen.  Who nationalized the student loan program, replacing private lenders with the US Treasury?  Who set a monopolistic 6.78% lending rate when competitive lenders had been offering half that before the takeover?

Oh, that's right.  It was the Obama/Biden Administration that created this problem.
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If a political party does not have its foundation in the determination to advance a cause that is right and that is moral, then it is not a political party; it is merely a conspiracy to seize power.     -Dwight Eisenhower-

"The [U.S.] Constitution is a limitation on the government, not on private individuals ... it does not prescribe the conduct of private individuals, only the conduct of the government ... it is not a charter for government power, but a charter of the citizen's protection against the government."     -Ayn Rand-

Offline Killer Clouds

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Re: On student loans, Biden doesn't have an answer yet
« Reply #3 on: January 22, 2022, 08:09:40 pm »
Quote from: Hoodat on January 22, 2022, 07:09:50 pm
Answer - If you took out a loan, then pay back that loan, just as you agreed in writing to do.
Exactly! Why is this so hard to understand? Why should taxpayers be burdened to pay for someone else's debt?
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Online Fishrrman

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Re: On student loans, Biden doesn't have an answer yet
« Reply #4 on: January 22, 2022, 11:49:21 pm »
Fishrrman prediction:

The ultimate resolution to this brouhaha is that the government will agree to either:
1. forgive the loans (assuming certain requirements are met)
or
2. rewrite existing bankruptcy laws to permit student loans to be discharged as are other ordinary debts, pursuant to court actions.
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Offline Right_in_Virginia

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Re: On student loans, Biden doesn't have an answer yet
« Reply #5 on: January 23, 2022, 12:27:14 am »
Quote from: Fishrrman on January 22, 2022, 11:49:21 pm
Fishrrman prediction:

The ultimate resolution to this brouhaha is that the government will agree to either:
1. forgive the loans (assuming certain requirements are met)
or
2. rewrite existing bankruptcy laws to permit student loans to be discharged as are other ordinary debts, pursuant to court actions.

#1:  Forgive the loan after serving three consecutive years in active service military and five consecutive years in the Reserves.

#2...while my favorite .... would send too many to the fainting couch so this won't happen.   It would be too hard and "unfairly" lower their credit rating.   888mouth

Whatever the means used to erase these loans,  it must hurt, really hurt these precious snowflakes.
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