Biden Quietly Forgives Student Loans for Thousands of Government Workers While Millions of Others Re

[mystery-ak]

Biden Quietly Forgives Student Loans for Thousands of Government Workers While Millions of Others Remain Crushed by Debt
By The Heartland Institute | Mar 09, 2022 3:00 PM ET

Throughout Joe Biden’s 2020 presidential campaign, he pledged to tackle America’s student debt crisis by reducing the cost of attending college and canceling up to $10,000 of debt per borrower.

More than a year into his presidency, Mr. Biden has come up short on both counts. Not only have he and Democrats in Congress failed to pass legislation forgiving student loan debt, data compiled by U.S. News & World Report indicate that “tuition rates at both private and public National Universities have increased by at least 2%” from the 2020-2021 school year to the 2021-2022 year.

However, despite these failures, one group has benefited substantially from the Biden administration’s student loan policies: nonprofit workers, the largest group of which is those employed by federal, state, or local governments.

While tens of millions of other Americans remain burdened with massive student loan debts, government and other nonprofit workers have enjoyed substantial amounts of student debt forgiveness, and at a rate we’ve never seen before, thanks to a combination of policies most voters know very little about.

Under the Public Service Loan Forgiveness (PSLF) program, which was created by the College Cost Reduction and Access Act of 2007, federal student loan borrowers who work full-time for a nonprofit organization, including a government, can have their entire student debt balance discharged after making 120 qualifying monthly payments, a requirement that takes at least 10 years to complete, but could take longer.

Prior to receiving forgiveness, many of these borrowers enroll in a federal income-based repayment plan, which ties student loan payment amounts to income, allowing borrowers to “pay” as little as $0 per month without penalties, and as much as 15% of a borrower’s monthly discretionary income.

more
https://redstate.com/heartlandinstitute/2022/03/09/biden-quietly-forgives-student-loans-for-thousands-of-government-workers-while-millions-of-others-remain-crushed-by-debt-n533577

[Killer Clouds]

I couldn't care less about student loan debt. If you BORROWED the money it is your responsibility to pay it back. If you can't afford to pay back a LOAN then don't BORROW the money.

[roamer_1]

I couldn't care less about student loan debt. If you BORROWED the money it is your responsibility to pay it back. If you can't afford to pay back a LOAN then don't BORROW the money.

Right. But more than that, look at how it skews the quality of education - If there is no fault no foul for offering a course that ultimately does not provide a worthy job at the end, then unworthy lines of education continue unabated.

Personally, I think there should be a way to hammer the college for teaching you something that has no benefit. A lemon law kinda thing... That would quickly clear the decks of most of the liberal courses in a fell swoop.

[Killer Clouds]

Right. But more than that, look at how it skews the quality of education - If there is no fault no foul for offering a course that ultimately does not provide a worthy job at the end, then unworthy lines of education continue unabated.

Personally, I think there should be a way to hammer the college for teaching you something that has no benefit. A lemon law kinda thing... That would quickly clear the decks of most of the liberal courses in a fell swoop.

If someone wants to get a doctrine in advanced basket weaving, theory of Frisbee golf or transgender ghost study then that is their choice. If they also  want to find someone to loan them money for tuition that's their own business. It's also their and only their responsibility to pay back the borrowed money. The government should not be in the business of making student loans.

[Kamaji]

Right. But more than that, look at how it skews the quality of education - If there is no fault no foul for offering a course that ultimately does not provide a worthy job at the end, then unworthy lines of education continue unabated.

Personally, I think there should be a way to hammer the college for teaching you something that has no benefit. A lemon law kinda thing... That would quickly clear the decks of most of the liberal courses in a fell swoop.