Official Student Debt Cancellation Watch Thread

[FAH1223]

This isn’t new. Like I’ve said too many times in this thread. It has to be paid for

The money has been disbursed and appropriated by Congress already

 

[Trust Me]

yep this gonna be a midterm play. Watch buden extend the moratorium until October then finally do forgiveness

It would be a smart play.

 

[Conan]

The money has been disbursed and appropriated by Congress already

You're talking to a retard.

 

[Slim]

Probably going to get pushed another few months

 

[FAH1223]

Probably going to get pushed another few months

President Joe Biden is considering extending a pause on student loan repayments for several more months, as well as forgiving $10,000 in student loan debt per borrower, according to people familiar with the matter, as he seeks to appeal to young voters ahead of the November midterms.

The current moratorium on student loan payments expires Aug. 31, and a fresh pause could extend either through the end of 2022 or until next summer, the people said. Biden told reporters last week that he hoped to decide on an extension by the end of August.

Debt forgiveness may follow the extension, but the president hasn’t reached a final decision on either move, the people said. Biden has been weighing appeals from progressives to forgive large amounts of student loan debt almost since entering office, and the extended deliberations have frustrated some advocates.

The people asked not to be identified discussing internal White House deliberations. A White House spokesman said Biden and his team are still assessing their options and no decision has been made.


It’s unclear if the approach will appease civil rights organizations like the NAACP, progressive Democratic lawmakers and a swathe of powerful labor unions that have pressed Biden to forgive $50,000 per borrower. The plan is intended to appeal to voters under age 30, whose enthusiasm -- or lack thereof -- in November could be key to determining whether Democrats retain control of the House and Senate.

The president is intent on ensuring any student loan forgiveness doesn’t benefit high-income people, so the administration is likely to cap eligibility somewhere between $125,000 and $150,000 in annual income, one of the people said.

Biden has neared a decision on student loan forgiveness at least three times in the last several months, according to one Democrat close to the White House. Yet concerns about escalated inflation have complicated the discussions, preventing Biden and his top aides from moving forward with an announcement.

Although Biden’s top economic aides have argued student loan forgiveness will not fuel inflation, White House officials have been reluctant to hand Republicans any additional talking points. The opposition party has sought to portray the administration as flooding the economy with money and thereby adding to inflationary pressure.

 

[GodinDaFlesh]

Do the 10k forgiveness, reduce interest rate to 0% and resume payments. That's the best policy to both account for inflation and deal with ballooning interest rates.

 

[KFBF]

best

Best for who?

 

[Serious]

Do the 10k forgiveness, reduce interest rate to 0% and resume payments. That's the best policy to both account for inflation and deal with ballooning interest rates.

or at best give a grace period like 5 years to pay off your student loans.

Then i'd be cool.

 

[ADevilYouKhow]

I’m voting for Joe and Dems across the board


Got dudes in here acting like the Republican Party that just tried to pull off a fascist white supremacist coup give a fukk about you and your student loans

Bunch of fukking a$$holes

 

[Eternal Tecate]

Cancelation will not happen without the elimination of private banking

 

[CarbonBraddock]

yep this gonna be a midterm play. Watch buden extend the moratorium until October then finally do forgiveness

Do you mean for that bullshyt 10k or whatever he was talking about or for more than that?

 

[Software]

Do you mean for that bullshyt 10k or whatever he was talking about or for more than that?

We don't know the number. But 10k is definitely the minimum if it happens.
He could do more but don't get your hopes too high

 

[CrimsonTider]

The money has been disbursed and appropriated by Congress already

Link

You're talking to a retard.

Link

 

[CrimsonTider]

Cancelation will not happen without the elimination of private banking

Explain

 

[Eternal Tecate]

Explain

Things like interest, rent, insurance premiums, subscriptions, transaction/ service fees etc. can all be placed under the umbrella of "economic rent". Economic rent is unproductive income. "The money landlords make in their sleep". The difference between input cost and selling price. Most of America's wealth generation falls in this category. It's what the service economy runs on. Every cent of bank profit falls into this category.

Economic rent is parasitic in nature. It's called usury in the Bible. It's the essence of private banking. The opposite is public banking, aka government banking. The government has to be strong enough to fight off the oligarch/landlord class.