August 26, 2022
Total chaos as millions of student loan borrowers rush to get Joe Biden's $10,000 debt amnesty
By Monica Showalter
As President Obama used to say of his clownish vice president: "Don't underestimate Joe's ability to f*** things up."
Which brings us to Joe Biden's student loan debt forgiveness rollout, announced this week.
Let's set aside the issue of the legality of the matter.
The actual execution of the matter is Joe in Action.
According to Axios:
The implementation of President Biden's widespread, income-targeted student loan forgiveness is shaping up to be a bureaucratic challenge for the Department of Education.
Why it matters: Millions of Americans are in limbo waiting for information on how to take action on student debt relief — the success of which relies largely on an agency juggling unprecedented changes, on top of other reforms.
The agency doesn't have income data for most of the 43 million Americans eligible for forgiveness, meaning around 35 million people — including Pell Grant recipients — will have to attest that they makes less than $125,000 per year and apply for relief.
What we're watching: StudentAid.gov, the government’s financial aid website, experienced significant delays Wednesday and Thursday after it was inundated with people seeking information on loan forgiveness.
The White House doesn't know exactly how many eligible borrowers will actually end up applying for loan forgiveness — or how much it will cost.
The Education Department hasn't yet released the website where people can apply for loan forgiveness by attesting that they meet the income requirement — and it's still unclear when that will be released, a person familiar with the matter tells Axios.
More importantly: When will borrowers actually see the relief?
"That's the million-dollar question," Education Secretary Miguel Cardona told NPR Wednesday.
"It's really important that folks know that we're also improving a system that was broken and that was antiquated," he added.
...and it just keeps getting worse, detail after detail, the further you read.
more
https://www.americanthinker.com/blog/2022/08/total_chaos_as_millions_of_student_loan_borrowers_rush_to_get_joe_bidens_10000_debt_amnesty.html
