politics

John Oliver just had a good show student loans that talked about this program...

Something like 95% of people are denied for this program, and one woman had her servicer under charge her by $0.01 a month, and said none of those counted towards forgiveness. Another person had the same thing, challenged, and waited 3 years before her case was looked at. She had to keep making payments the whole time. But they fuck up so much, there's an insane backlog.

So it's good some people are getting forgiveness from this, but most of the people getting it now, were supposed to have already gotten it years ago. After years of having to keep making payments they likely don't get refunded.

And it's still barely even a rounding error in the total of 1.77 trillion.

There's nothing wrong with being happy about this, but it's nowhere near enough and it took a shit ton of noise for Biden to come this far. We can't stop pushing or they'll go back to ignoring it.

Centrists didn't want this. Progressives did. Biden listened to progressives. When he encountered a setback, he could have announced he tried and given up forever, and no one would have been surprised. Hell, it's exactly what I expected would happen.

Instead he had a contingency plan ready to go and followed it up with other plans.

He listened to progressives and didn't give up. This remains the high point of the Biden presidency.

I appreciate the efforts Biden is making here. I was looking forward to the $20k loan forgiveness for my wife's student loans, but the new IBR plans reduced my monthly payments by 85% and has them going to be forgiven entirely in a few years. That right there sealed my vote for him, even though he hit roadblocks to the original plan.

Still haven't affected me yet but I'm glad there's some forgiveness. I just keep waiting for mental health practitioners forgiveness. Since most don't work in "non profit" hospitals they have been missing out on the forgiveness. Even though most make little when large amounts of debt from maters programs.

I'm still happy there is some forgiveness though

Reading comments on Youtube and so forth, I actively lose brain cells. Fun facts to counter sour right-wing talking-points:

• Those forgiven under this fall under the DoE's discretion in lieu of the Public Service Loan Forgiveness (PSLF) program that was legislation signed into law under... George W. Bush. The Biden Administration is just streamlining and actively using a system that was already in place but unused.

• It's nice to see the working class get bailed out for once instead of banks and big corporations.

• Tuition has risen since the boomers' time, and in addition to that unregulated private diploma mills have taken advantage of many people all the while contributing to degree-inflation.

Edit: You guys are too kind to have not pointed that out lmao.

Is this the cancel culture I keep hearing about?

BoTh SiDeS!!1!!1!

Had student loan debt and the chance to become a public servant at the beginning of my career. It would’ve meant making regular payments for a long time until eventually the debt was forgiven. It also would’ve meant sticking with the government and the low government salary. I decided I didn’t trust the government to actually forgive the loans and why make that bet when the government salary is low anyway?

Under Trump, the DoE basically thumbed its nose at people in this program and claimed only some handful actually qualified. I took that as a sign that I was right.

In any case, I’m glad to see people actually getting their loan forgiveness, even if it is a bad deal.

The original Bill Clinton idea was to forgive loans for public service.

This is the best summary I could come up with:

WASHINGTON — President Joe Biden announced Thursday that the White House has approved the cancellation of nearly $6 billion in federal student debt for thousands of public service workers.

"These public service workers have dedicated their careers to serving their communities, but because of past administrative failures, never got the relief they were entitled to under the law," Biden said in a statement touting the move.

“From day one of my Administration, I promised to fix broken student loan programs and make sure higher education is a ticket to the middle class, not a barrier to opportunity,” Biden continued.

“I won’t back down from using every tool at my disposal to deliver student debt relief to more Americans, and build an economy from the middle out and bottom up.”

Starting next week, the White House will also email about 380,000 borrowers to inform them that they are on track to have student debt canceled within two years.

Last year, the Supreme Court invalidated Biden's more far-reaching student loan debt relief plan, arguing that it was unlawful because Congress did not explicitly approve the move.

The original article contains 275 words, the summary contains 184 words. Saved 33%. I'm a bot and I'm open source!

5 digits worth of people with 10 digits worth of debt? What a scam

A lot of these should have already been forgiven but weren't because of shady reporting processes by loan processors. That should be investigated and stopped