Student Loans FORGIVEN (for some people)

President Biden’s administration has emailed over 150,000 student loan borrowers enrolled in the Save program to cancel their debts totaling $1.2 billion. This is the latest effort by the administration to tout its success in providing debt relief as the campaign season heats up.

[@Bxu021]

The one in the back 😂😂😂

[@kingace6186]

That's really how it be tho. You're lw jealous of them, but understand how much of celebration it is for them.

[@Skrunkly_TSC]

@@kingace6186 tf you on about? I don't think blud was makin fun of that person reacting like that but rather how comical and exaggerated their reaction was plus it's a background character that a single person is doing for the short...

[@Mihailo_Slavutsky]

😎👉

[@justaperson8385]

I just saw them lol😂

[@YD_.]

@@Skrunkly_TSClook at the other background person and you’ll understand

[@waitz001]

i.e. people who had actually already *paid back what they borrowed but were getting gouged by interest

[@patrickcollins2044]

Gouged?? Student loan rate has hovered around 5%-6% for some time. It's recently gone up, but it was far lower than that as well. So what do you mean gouged

[@MrRezRising]

@patrickcollins2044 ​She means, eg my wife and I paid back 130k on a 90k loan over 20 years. Remember those numbers. Never missed a payment, paid more than the monthly minimum, and after 20 years they put our balance at $193,000. NOT A TYPO. Every time your debt is sold - and it will - A LOT - they add to the balance. The last institution that held our loan went out of business and could not provide ANY type of accounting. This is common and illegal. So Biden forgave it, and also 51,000 other individuals in my wife's group getting f*cked over by these popup loan companies. It is not as simple an issue moct haters want it to be. It's fraud, perpetrated on the middle class so 'financialbrahs' can make money off of us. And if youre on _their_ side...

[@MrRezRising]

​@@patrickcollins2044 She means, eg my wife and I paid back 130k on a 90k loan over 20 years. Remember those numbers. Never missed a payment, paid more than the monthly minimum, and after 20 years they put our balance at $193,000. NOT A TYPO. Every time your debt is sold - and it will be sold A LOT - they add to the balance. The last institution that held our loan went out of business and could not provide ANY type of accounting. This is common and illegal, and no one answers phones, emails, or texts at those companies. So Biden forgave it, and also 51,000 other individuals in my wife's group getting f*cked over by these popup loan companies. Biden is giving REAL financial relief, not the lies that Trump fed the middle class so he could pass a tax bill that gave 85% of the relief to the 1%, because that's a fact. He did that and Biden is fixing it. It is not as simple an issue most haters want it to be. It's fraud, perpetrated on the middle class so 'financialbrahs' can make money off of us. And if youre on _their_ side...

[@waitz001]

@@patrickcollins2044 yeah, but there's this trick of paying INTERE$T FIR$T, so you could end up paying FOREVER on a loan. how many times over the principal should a person have to pay? it's like house loans - the builders get paid WITH PROFIT, let's say 300k. BUT, after you pay the 900k+ mortgage, about 600k goes to banks, paper pushers, and investors. loans are ridiculous. Wall $t. riding the backs of workers is RIDICULOU$.

[@anthonycory2116]

More than that because 200 for 10 years is double the threshold. They would have paid off their loans and all possible interest. This bill is a lie in a waste of paper and not even worth the ink that printed it

[@yunleung2631]

You can’t fault them for trying.

[@fine-print]

There's plenty other shit for that

[@ScarletStarManor]

Nah, we should be faulting, and making them pay for it too, the ones who were against the larger PERFECTLY FINE idea that was screwed over by them. Aka: The old people.

[@ZerarAzwar]

@@ScarletStarManormake them pay for their own loans. if you take it you pay it

[@MadJackChurchill1312]

They didn’t try. Who borrowed less than $12,000?

[@crowned-fennek]

@@ZerarAzwar College Education is expected for a lot of jobs and colleges are expensive

[@malta7406]

I have a personal vendetta against this court.

[@kingace6186]

You and like 75% of the country. This SCOTUS is wayyyy too out of touch.

[@itsdylanjenkins]

@@kingace6186 blame republicans

[@jackwilli3978]

@@kingace6186the SCOTUS is meant to uphold the constitution not cater to the majority. That’s why they are appointed not elected and serve for life.

[@kingace6186]

@@itsdylanjenkins I do.

[@EthisProtogen]

​@@itsdylanjenkins I blame both parties actually, Democrats didn't do enough to prevent this from happening. Republicans are evil, but Democrats are incompetent at stopping the evil, and I'm getting really tired of them just getting a pass because they're the not evil ones.

[@Krissie707]

We need more trade schools. Let's be real not all of us are college material. 😊

[@mollygrace3068]

Yes, and also women need to be encouraged to join trades. Teach girls at a young age how to use tools, just like boys.

[@Snipergoat1]

@@mollygrace3068 The one that will take it up, sure. But for the most part women don't want male dominated jobs and no it's not because they are male dominated. But yeah, any woman who has the aptitude and the desire to go into the trades should do so. Then you can join the rest of us in being pissed off at Biden for punishing people who didn't put themselves into dept. (Of course that is just another drop in the bucket of the reasons to be pissed at Joe but that is many, many different topics.)

[@MyNameIsNotBob_1121]

some is always better than none edit: huge political debate in the comments, just a warning

[@djdavisiscool]

Hell no its not

[@104daysofgaming4]

​@@djdavisiscool so you'd rather no one gets help?

[@5Chaor]

​@@djdavisiscool Politics is about what you can do not what you want to do. And you keep working at it keep finding ways to help others. You will eventually get what you actually want

[@DW-lb6hw]

​@@djdavisiscoolthats a crap attitude. I didnt get mine forgiven, but im happy that some others have. Stop being selfish.

[@djdavisiscool]

@@104daysofgaming4 hell yeah

[@11jhurley]

Forgave $138 billion but couldn’t forgive one dollar of mine 🤦‍♂️

[@jonasmejerpedersen4847]

Biden is so bad!!! He should just overturn US democracy and ignore a supreme court decision!!!

[@miguelaromer]

Unless you're in the specific plan, Supreme Court shanked you 🤷🏼‍♂️

[@alxbran]

I feel your pain 😭😭

[@kylennpetersen4407]

Exactly

[@ZXHZ]

You probably don’t deserve to be forgiven for a debt like that

[@trailblazerlazerrazerd9027]

It was literally nice while it lasted because once they had a chance to rip that all away, the Supreme Court did. And then all of us with about $10-13k in debt needed to start making payments again. Effectively screwing up whatever money we intended to save.

[@shanedaley6236]

Because it's tax payer money which no one signed up to pay for your debt

[@uptop377]

If someone didn't go to college or take out a loan why do they have to carry ur burden? The shit Joe did was completely unconstitutional.

[@redey1290]

@@shanedaley6236yeah and tax payers didn’t sign up for our money to go towards military efforts, yet here we are. I’d much rather my tax money go towards helping other citizens rather than funding an already massively bloated military budget

[@shanedaley6236]

@@redey1290 or how about nether that sounds better

[@zwink37]

​@@shanedaley6236I didn't sign up to have my taxes pay for the PPP loan program which had no oversight and most of the loans forgiven, but here we are.

[@Sugar3Glider]

140 billion is still 140 billion.

[@antfbi]

When comes to war I mean defense it’s a blank check.

[@King_of_69s]

So roughly 3 weeks of government spending

[@uncannyvalley3190]

By the way they didn’t relive any debt at all. All they did was take away your personal debt and added it on top of the country’s 13 trillion debt pile.

[@spacecats2185]

@@King_of_69smoney the government doesn’t have.

[@mrgamechanger97]

There are 3 important takeaways imo for this. First, any student loan debt forgiveness that means 3 digit sums staying in avg American pockets instead of sent to debt collectors is a good thing. If that means thousands of ppl needing less govt assistance or being able to buy more than just necessities, or even just save, invest, or start a new business. All of these things are good for the economy. 2. While the most effective way to achieve #1 is to wipe the debt for as many ppl as possible with the allotted money. The ppl with less than 12k in loans are probably some of the ppl that least need the relief. So that's unfortunate even if it makes practical sense. 3. We are ignoring the root problem and that's the biggest issue with the Biden administration always defaulting to this. Could you imagine if they took multiple attempts at raising the min wage. Multiple half measures on weed? Multiple attempts or even just 1 attempt at establishing a public Healthcare option like he campaigned on? As I said, it at least temporarily boosts the economy which is nice. But if we don't do anything about the unreasonable cost of higher education, 20 yrs from now we will have just as much student debt. We are just passing it on to the next generation of borrowers. Delaying the problem by wasting resources only attacking the symptoms of the root issue.

[@angelrios5897]

The fact that supreme court decided it's unconstitutional for the government to forgive debt it created is kind of ridiculous.

[@theodoreryan7892]

No silly, it is unconstitutional for the executive branch to do it. The Congress can if they wanted to. Now go pay your loans off.

[@gagefallon1566]

@@theodoreryan7892 That incorrect, go read the court statements

[@theodoreryan7892]

@gagefallon1566 The court also addressed the limitations of executive authority and invoked the so-called major questions doctrine, which holds that if Congress wants to give an administrative agency the power to make. Now I'm sure that says Congress has the power, not the executive branch. That is the power of the purse to fund, levy taxes, and FORGIVE dedt.

[@cyropox8235]

It kind of was. The law that Biden was invoking was not designed to be used the way he wanted it to be used. He was trying to use a legal loophole and the supreme Court called his BS. For people who want student loan forgiveness, they shouldn't be blaming the supreme Court. they should be blaming Congress for not passing a bill to enable it. Biden tried his best to force this through with legal loopholes in executive orders, but if people want something to pass, they should vote for representatives that could make it happen in every branch of government instead of asking one branch to bend the law.

[@misterdark-pl3jo]

Sooo, the government forced you to get a huge loan to waste several years of your life and get a useless degree you can't make money with, or what? I don't get it

[@jamespowell2037]

All they have to do is let ppl file bankruptcy on student loans. That's it. If ppl can't afford their loans then they can file

[@tylerlopez2738]

If people cant afford a loan they shouldn’t take it

[@irmiwolf]

@@tylerlopez2738if everyone did what you said you would have been lucky to even been born. The doctors that made sure you and your mom dont die while she pushed out your empty head racked up student debt too.

[@PrincessNinja007]

​@@tylerlopez2738 So when you were a 17 year old kid you knew EXACTLY how much you'd be making in 4 years? And you were correct?

[@tylerlopez2738]

@@PrincessNinja007 I did actually! I knew I wouldn’t be making enough to pay off almost 100k in loans and then have the gull to piss and moan that I made a horrible financial decision

[@GummyDinosaursify]

@@tylerlopez2738 Congrats, you didn't go to college. You want a gold star? I didn't go to college either but I'm not out here shitting on people who did. Are you going to tell poor people to "stop being poor" and cancer patients to just "stop being sick and get better"?

[@wes4736]

People who borrowed less than 12k? That's basically just community college, I go to, not even a state university and a single year is costing me more than 21!

[@wayIess]

Yeah, that's what I was thinking too. 12k is an associates degree.

[@clarehidalgo]

12K is like 3 years at most if you only take the subsidized loans and reject the unsubsidized loans

[@microscoft_9813]

Regardless of the party it’s all a scam.

[@Mitobu1]

Oh boy, so people who paid off their own loans get to pay off other people's loans too!

[@Patriot-Eaglehead]

The billionaires can afford to foot the bill. No problem.

[@Unknown-l5m8x]

@@Patriot-Eagleheadnot even true. 140 billion dollars is more than the billionaires combined have

[@a_beeble]

​@Patriot-Eaglehead Yeah, with HARD-EARNED money right? And let's not just tax billionaires to buy votes, but let's tax the working class too! Student loan forgiveness is bull

[@Lord_Falcon]

We need new laws requiring colleges slowly reduce pay for staff, total staff count and fees every year for the next 20 years. If they want to retain their profit levels they will have to drastically improve efficiency with better tech. In general I don't want the government to get involved in how much people are paid but sometimes they have to when it gets to crisis levels. The average College Administrator in the US gets paid $176,000. This shit is insane! In the UK they get paid up to £32,000. It's a simple job so for it to be paid so highly there has to be something broken in the system. Tenured management are clearly just giving jobs to family and friends. Reduce all the salaries and require fees go down in line with them.

[@andrewcharles6489]

$12,000 and have been paying for 10 years? What in the actual hell is that?! They must be paying high ass interest.

[@derekb5455]

It’s $100/mo they’re not paying. It’s government loans so the rates are between 3-8%. This is as close to paying for votes as it gets.

[@Data_Science_Weekly]

Or they're paying $25 a month

[@pikachufantastic]

Why did the supereme court say the govermwnt cant forgive studen load debt. If thats the case then the us goverment shoulsnt be able to just raise there debt ceiling.

[@wayIess]

Lol, indeed. Welcome to the circus.

[@puredog3804]

Not the government, the executive. The legislature can do it but the president can't. They have to go through congress.

[@floppyhobbit]

Forgiving student loans just means shifting one person’s debt to all the taxpayers more broadly. “Debt Forgiveness” is basically just a propaganda term at this point.

[@Ivanfpcs]

I am actually surprised they are actually trying, I thought this was a fake and empty campaign promisse

[@tylersmith3509]

The solution here is not to use taxpayer money to pay for other people’s debt. It should instead be making college where it’s actually affordable for the average 19-20 year old without putting them in debt for 30 years

[@Unknown-l5m8x]

Absolutely agree. The education system has been taking advantage of the governments leniency toward student loans therefore driving costs through the roof

[@subpar_username4756]

So you’re suggesting price fixing? Government intervention in the free market? I mean, I’d be in support of it, seeing as more accessible education would probably help increase economic mobility and just all around make life better, but you’re seeing how a moderate attempt at helping would go right here. Something large-scale like that would get shut down immediately.

[@xaviersmith5154]

You people are insane.

[@base64d]

Price fixing is literally what the UK does for university fees for domestic students, and it works extremely well. Called at 9k per year.

[@Voidking2008]

I think it would've been better if the supreme Court didnt shut down the bigger stuff they wanted to do

[@yourway3151]

I guess no one but me is tired of paying other people's debts and irresponsibilities? I guess not. I guess everybody believes the money from the government just drops out of the sky.

[@nevermind5657]

nah, they are just gonna claim it from the loan companys.

[@NEWROCK717]

@@nevermind5657yeah with tax dollars

[@baylorholloway7808]

Na there just gonna claim it from the cartels

[@ryanstevenson3241]

Yup, I paid for mine and my kids, and now I have to pay for all these useless people who have a useless degree. Who will then take more out to stay unemployed.

[@klesko55]

You should check out the corporate welfare that has been going out for decades to the oil companies, agribusinesses, . . . Don't get me started on defense contractors.

[@Jerry_F]

Here’s what we should do; stop giving student loans to people who aren’t sure what they want to do and choose something random or don’t declare a major, stop pressuring kids who don’t want to go to college to go to college.

[@BionicLemming]

As a bonus, that debt forgiveness is treated as income by the IRS.

[@geeksdo1tbetter]

Oh, thanks for the heads up

[@bamby27]

It should be. It is income.

[@stevenroshni1228]

​@@bamby27it's not money in the person's pocket, so counting it as income will make some people's situation worse. For example somebody owning $200k only making $40k wouldn't have the money for the tax bill

[@bamby27]

@@stevenroshni1228 then maybe they should pay off their debts like everybody else not expect a handout. If they receive money to pay off a debt, it should be counted as income at the very least or it’s not fair to those people that didn’t get the same handout. The real problem is all of these measures of student loan forgiveness are just half measures. Either go back and refund everyone during the time these colleges have been gouging tuition prices, and refund everybody, or refund nobody and make everybody pay back their debt obligations. Doing anything other than a solid choice is just going to cause division.

[@Skywat]

The people in the back 😂

[@johnathanpenczek5499]

Lol what if we all collectively refuse to pay off our loans. They can't arrest all of us.

[@jarskil8862]

Its crazy that student loans get cancelled like that. In Nordics only half of your student loan is paid by goverment if you graduate on time. So why people in US demand full pay?

[@Just_Randomi]

They should have overhauled the system and made higher education cheaper.

[@Zer0talentWoW]

Maybe instead of going after the debt You go after the schools for charging so much to start. Then work on the debt after so all future students dont have the massive loans..

[@xaviersmith5154]

Its crazy that the government will help prople who chose to go into debt for no reason at all, rather than help people who are put into debt because of things out of their control.

[@jessicacampbell8414]

The people that are still waiting for Biden to forgive student loans are still the same people that are waiting for their 40 acres and a mule😅😅😅😅😅😅😅😅

[@Yoder023]

Think of what was said: "Cancelled 1.2 BILLION DOLLARS" and this is "if they've been paying off for 10 years" That's price gouging at its finest

[@Elladril]

How is it "pRiCe GoUgInG" to charge you exactly what you agreed to pay. No one, except potentially your parents, held a gun to your head and made you agree. If your parents did, then they should pay for your bad decisions, not me and my sugar baby who didn't go to college and have nothing to do with you.

[@ZT1ST]

​@@Elladril5% interest, even if you argue it was small per loan, came down to $1.2 Billion in loan forgiveness...for loans of only $10 K or less. You're price gouging when those $10K loans come out to $1.2 Billion in interest payments - the food industry would love to have these kind of "Because you needed it once, it now costs you 5% for 10 more years to pay back what you paid for this food." gouging.

[@Elladril]

@@ZT1STYou seem to be fixated on the fact that they forgave $1.2B in student loans all 10k or less without considering how many people it was. It was probly around 150,000 people's loans forgiven. Not really very many compared to the 45 million Americans who have student debt. The numbers aren't unreasonable at all.

[@ZT1ST]

@@Elladril 150K people still puts this as a lot of interest - again, that's still price gouging. The next tier up from 100K people is 1 Million, but it's even more than that per person, in interest, building up for 10 years.

[@charmedrools1]

12k in 10 years and they havent paid it back yet? Something tells me there was something sketchy going on there. Whats the rate of interest on that? Because id be willing to bet that the issue is their payments wherent even adequately covering their interest, making basically passive income for the people who own their debt.

[@YourCapyFrenBigly_3DPipes1999]

That's exactly the problem.

[@_exolite]

Please talk about the murder of Nex Benedict. It’s something that should be covered.

[@epgamer1145]

COVID offed more people globally than those students loans being forgiven in one nation.

[@andrewhall6479]

Oh, that’s right… a Majority of the Court can get stuffed.

[@DanskerneFraDanmark]

So where is the money comming from to pay for the lones ?

[@userbobtukey7552]

What if you didn’t waste my tax dollars on people who make irresponsible choices with money and instead secure the border?

[@juliusdauksys2183]

The border is fine, they aren't wasting your money, stop fighting against the interests of Americans and fight corporate greed cause that's the main cause of everything

[@BlueSkooma]

1. Where is the money coming from that’s paying off these loans? 2. What about the people who weren’t stupid and were able to afford there degree or made enough money in a career and where able to already pay off there loans? Should they have just done nothing and had it taken care of?

[@Alexadria205]

1. That money was created by the banks out of fractional reserve banking anyways. It doesn't exist. It's just meant to bring more profits to the banks through interest payments. They would be the ones paying for it by lost profits. But don't worry, the US government will find other ways to funnel money to them through other subsidies and bailouts. You personally will not be directly paying for any forgiveness. 2. If you were able to pay your loans and become successful, you are blessed and are probably envied by those that still can't pay off their debt. They rather be you, trust me. Let's end the suffering that drags people down and prevents people from starting families and buying homes. It would be a huge boom to the economy which would benefit everyone! 3. Student loans should never have existed in the first place. Blame the big banks for lobbying the government to make them non dischargeable in bankruptcy. That's the real source of the problem! 4. Along with student loan forgiveness, public university should be made free. It only costs 40 billion dollars per year, which is a tiny fraction of the total US national budget. We would never have this issue ever again. All other developed nations do this.

[@Landmassorussia]

"It's nice for them, but what about other people" might as well be the common cry of every single plan involving student loan forgiveness

[@timschommer8548]

Even if the big debt forgiveness plan HAD gone through, at best it would have been an extremely temporary fix to a much larger problem. But, as always, politicians are quite happy to treat the symptoms and ignore the disease, especially when treating the symptoms gets you attention and votes.

[@InvictvsNox]

Not enough! They need to keep it going.

[@DaDerp_1]

the one in the back getting an email🤣🤣😂😂

[@tobeytransport2802]

What a ridiculous set up. Here in the UK we did have free university from 1970s-2000s but the new Labour government introduced student loans in the 2000s to help fund universities and make education better *but* they’re not this ridiculous US situation of taking out a private loan and then the government fighting over writing them off… here they just come out of your pay packet at 9% of any income above £25,000 after graduation… that way if you are doing well because of attending university you pay, but if you’re not doing so well out of it the government doesn’t charge you anything. Once you get to 40 years past graduation (or if you’ve paid off your loan, obviously) it writes off. Oh and everyone borrows a set amount for living expenses and it also covers 100% of university fees… it’s a way to increase social mobility, and invest in future generations who will then hopefully not only pay back their loan but also pay back a higher rate of tax… but if they can’t pay it back then they haven’t got to worry, no one will hound them.

[@georgebrantley776]

See this flat rate system makes sense. In the US, you can choose to pay off the entire thing with your first paychecks, living off rice and beans until You're debt free, or you can pay the bare contractual minimum every year and let it snowball. And those who let it snowball are playing some sort of reverse Russian Roulette to get their snowball relieved. Most won't get that gift. And those who paid off their loans won't see a penny in compensation. Of course the general taxpayer pays for this, meaning rich people, as well as Joe Poorman who didn't go to college at all because he couldn't even afford it and didn't wanna take on a loan to begin with. It's a mess all over.

[@tobeytransport2802]

@@georgebrantley776 you prefer the UK system? I personally like it too, although many of my fellow students hate it and think free university is the only good option, because you are all given all of your money for your tuition as well as a sizeable amount for living expenses (which varies based on parents income and where you choose to live (away from parents or with them) unlike the tuition fee portion) and the repayments are income based too… oh I forgot to mention that tuition fee is capped at £9250 per year because the state doesn’t want to fork out too much but foreign students often get charged double because the cap isn’t subjected to them (which is a downside of the system)… But here the debate is essentially between either keeping the current system, reforming it to make it more state funded, or scrapping it and making university “free” like in Scotland (they did so with their own parliament, imagine in the US having California make universities free, it’s the same sort of idea) Also here you can choose to pay your loan off but people usually don’t because there is no real need to do so unless you just really hate seeing Student Loan Payment 9% on your payslip every month.

[@doclewis8927]

The way to drop the prices of this stuff. Make jobs not require degrees that mostly aren't used. Right? Every career I've had, I've had to learn on the job even when I had the desired education. I didn't have a degree but I was working on one when I got sick. My employer actually hired me, trained me, and when we were discussing colleges and degrees he was surprised that I didn't have a degree. He misread my resume. I wouldn't have been hired if he had read it correctly BUT he said I was the best employee that he'd had. I told him that meant the degree was "worthless" because it was just HIS desire to have an employee with a degree. He stopped requiring it.

[@tjfrye11]

i remember he was talking about forgiving the student loans of some woman with a doctorate who apparently wasn't making enough to pay them herself

[@pokemonlover303]

There should be no student loan forgiveness!

[@wolfpack95805]

Forgive/discharge all existing loans, if the banks or politicians get pissy about it maybe they should work together to implement restrictions on loan distribution for education or get out of the sector.

[@rageraptor7127]

The Supreme Court shouldn’t exist in the way it is currently. The people should be able to elect them directly without tampering by presidents or elected officials. If they’re truly the most powerful court that makes presidents kneel then the people by far should have the most control over them.

[@danthemanno]

How do you think all of those loans get waived? They don’t just make all of that disappear. That money comes out of taxpayer dollars. I don’t want to pay for someone else’s college

[@Self-Aware-Russian-Bot]

Loan forgiveness dosnt magically make the debt disappear. Only now every taxpayer in the US get to flip the bill now.

[@kennethwilson2369]

All we have to do to end the student debt crisis is remove the government garentee of the loan and make them bankruptable. No forgiveness required

[@eastonjones3571]

I like it but also no one would get loans then. But that would also make the price of school come down so not arguing.

[@bloxer9563]

Real

[@williamkelley8322]

If you pay off student loans, what stops colleges from raising prices, knowing that the government will just pay off the debt?

[@frankiev3735]

Well this was the original government supported loan program for students but the private loan companies did a bait and switch that disqualified individuals after they reached the 10 year mark. The killer is the principle loan is not so much the issue but rather increasing predatory interest rates

[@marcoaraiza9381]

Man i was so stupid to not take a predatory loan and just wait 10 years for the government to pay the debtors instead of me

[@Heathers_ECE_Consultation]

The 10 years only count if they were already on the save plan. So if you switch you have to still pay for another 10 years.

[@biropgrules]

Note that even if this stupidity actually went through, the actual cause of a society sending people to college(financed through loans) for worthless degrees that generally dont get them a job as the standard wont change at all, so in 20 years right back to square one.

[@fuxkag3908]

Still would be better to completley change the system

[@subpar_username4756]

…Which isn’t feasible in the slightest. Believe me, I think America should overhaul just about everything. But I don’t think it’ll happen anytime soon.

[@ppproductions4770]

Thanks for increasing college tuition! Now I’ll never make it past high school

[@bryanobee1730]

I dont care about people suffering from student loans at all and never will

[@Breeze45-s4h]

ohhhh you're tough, you're so strong!

[@irregulargamer1352]

I told people the last part and people called me a moron. Some guy makes a youtube short saying it and suddenly they're loved

[@joylessdancer4554]

When we say people it needs to be stated that these are all 13 and under.

[@youngnorwegianpatriot9028]

Student loan forgiveness seems quite unethical. If the US government covered a bigger portion of the tuition or even all of it, like how its done here in Europe, it would solve the debt situation and make higher education more available to more people, making this more a benefit to the population as a whole instead of a subset. I have heard the argument that it could even lower tuition cost. A larger number of higher educated people would mean an increased supply of university professors to meet the demand, in turn lowering their wages as they are less of a rarity and it is less difficult to become one.

[@madmachanicest9955]

They should close the student loan program and consolidate the debt. The found higher a new programs from a mix of interest on the original diet and a general proportional education tax. Aka every one with a college degree pays x amount more in taxes but anyone can use that tax money to go to college or tread school. That and a Cap on program cost that are eligible for the new program would fix all of this in a matter of years. Anyone with student loans would still pay for the rest of there lives but it be less than what there paying now and zero interest.

[@nlmaster9811]

Great that the refunds only went to people who are already well off.

[@craxnor]

The crazy thing is that the Supreme Court had no authority to deny this. And in their, illegal, doing so said that Biden can either forgive ALL or none. So he can still technically forgive student loans literally right now.

[@lukehernandez7675]

They cancelled a bunch on bs interest that never existed

[@ethansmith4504]

Shouldn’t forgive anything 💀

[@hanalexcranealister6799]

That’s just like five people 😂😂😂

[@thewrongguy1]

Completely illegally too. I have sympathy for everyone with student loans and I want to see reform, but this is not the way .

[@miguelcortez5063]

It's not forgiveness if the bill is given to the tax payer

[@BaconDragon]

Biden could have literally cancelled Student Debt and it would have costed the Tax payers literally nothin. But I guess the children didn't suffer enough

[@georgebrantley776]

​@@BaconDragonWhy would it cost the taxpayer nothing? Either the government plugs the deficit somehow (ie, transfers funds that would've gone to street lamps and redirecting it to loan forgiveness), or they just take that deficit on the books and kick the can down to a future generation to deal with, letting our debt grow larger. Taxpayers will also have to pay more interest on that debt now.

[@BaconDragon]

@@georgebrantley776 we already don't spend money on infrastructure. And we are already accruing massive tax cause of the Corporate Tax breaks, bail outs and subsidies. At least this way we can help people who fund local economies and not just prioritize the interests of Banks

[@georgebrantley776]

@@BaconDragon That sounds to me more like an argument to stop corporate kickbacks, than it is to start handing out college debt kickbacks. If they were handing it out to every single Millennial, then sure. There's some broadness to the policy. But to pass a bill that sends money to a select strata of the population is not fair, just like the corporate bailouts is not fair.

[@BaconDragon]

@@georgebrantley776 "fairness" what are you a child? Your seriously denying the idea to help people cause a childhood notion of Justice dictates it. But let's digest your argument a little more, you honestly believe that the only way to fight against corruption and the hoarding of power is through passive means? Corporations hold too much socioeconomic and political power. They'll always get what they want. The only way to truly guarantee no more biased benefits would be the complete dismantling of the federal government. However that move would only serve to benefit the status quo and power hierarchies.

[@Jacob_war]

Good buy economy, hello even more national debt.

[@NoName-gw9mn]

Maybe don’t spend 60k a year for a liberal arts degree and you won’t have to worry abt debt

[@kingace6186]

Average engineering degrees costs 80K a year.

[@MuffinCommander]

​@@kingace6186and will make your enough money to pay it back on time by yourself unlike that liberal arts degree.

[@tylerfielder5582]

@@MuffinCommanderhow many liberal arts degrees do you people think are given out in a year? There is 1.7 trillion in student debt yet all that gets mentioned by republicans is “liberal art degrees” or “rich people who don’t need forgiven”. These make up MAYBE 10% of the student debt. What about teachers? They have to go to college for 4-6 years. What about cops who were required to get degrees? What about your average small town business owner who got a business degree? These make up over 60% of degrees. But like anything you only bring up the one demographic that you feel fits your narrative.

[@NoName-gw9mn]

@@kingace6186 Ik, and you’ll be able to pay it back very quick the point is many people are getting the most stupid degrees and bigger schools and then want to be upset they can’t find a job and are in debt

[@wayIess]

What wise words. Can you solve global warming while you're at it.

[@Nonsense116]

If you take 10 years to pay off less than 12k thats on you. That's literally $100 a month. I could make that doing Uber.

[@iansanchez9588]

Despite contributing to maximum on my taxes can filing them with a professional to make sure I didn't mess up my filing, I still owe the government $2200. And this is where it's goin?

[@Rufio20008]

Of course they would cry that everyone wasn't included.

[@ViolentOrchid]

That's nice dear. They could just remove all interest if they wanted to help those they can't forgive the debt of.

[@TomekHar]

The debt wasn't "forgiven". Other people still gotta pay for it.

[@matthewbattenfield8255]

So, who is footing the bill for Billy's $100,00 college education (vacation) that he isn't even using anymore?

[@marvolom787]

In Poland students loans are like cheapest loans one can get. It wascsovweird to learn it's oposite in America

[@jsheav]

I'm trying to fight like hell to pay these off. I am going to be pissed if they end up being forgiven anyways

[@mtndewfan66]

I'm glad the people who agreed to a contract got their contract forgiven because they didn't like the contract causing my tax dollars to go to these so called predatory companies that caused the whole issue in the first place.

[@RickNasty42069YOLO]

You can't "forgive" student loan debts. It's called paying them off with taxpayer money.

[@stevenroshni1228]

So why is it called forgiveness in the master promissory note?

[@EnterpriseC14]

Its almost like the debt is imaginary...

[@iamthebatsy]

It helps… if you are older than 40 and have borrowed under very specific circumstances.

[@Lordgrayson]

"Student Loan Cancellation" is not a cancellation, it just moves the debt from the individual onto all the taxpayers either through increased taxes, tax money being taken from others areas it is normally for, or by increased inflation due to printing money

[@beanbio5674]

You cant fault them for waving around magic wands

[@MarkLeiderman]

So correct me if I'm wrong You went to school so you could go to colledge or to uni In order to get a job later And you were willing to do borrow from a bank with interest in order to get that job But in the end you didn't become more successful And now you have a student loan and a degree you're likely not using Maybe, just maybe, it isn't college that makes you successful, but the other way around, and being successfull allows you to go to college? So you actually need to be above average on intelligence to benefit from higher education... Just maybe...

[@Unknown-l5m8x]

They don’t wanna hear the truth

[@BoBunch]

the fact student loand exist, is crazy to me

[@jimblackford6680]

How about students stop getting useless degrees for things no one is hiring for? And how about universities stop forcing student to take courses that don't apply to their major?

[@whickwhacksmacker]

It’s a step. A small one, but a step

[@napiersh1]

You can't forgive debt, only transfer it.

[@MrMatt3046]

These were convicts and people on disability. They weren't making payments, they were in deferment. These were loans that would have never been paid. Thjs benefits nobody but the banks.

[@Im.k.m.aka.kalaashnikov]

Bro this is a great start I'm ngl but inflation is killing us 😭 ty for the vid

[@Flingle_Dinggus22]

I could never understand why for-profit, hospitals, colleges, drug manufacturers, etc. mark things up so nuch like I understand it’s pretty nuch pure greed but how could you 10x the price of something that’s vital when you can still be unbelievably rich with standard profits

[@madjack3409]

Forgiven how? So the debt disappeared and the lenders aren't getting anything?

[@HinoTestsuExtra]

Many people that qualify for loans also qualify for State Financial aid and with state aid you don’t need to pay it back keep that in mind if you’re not in college yet

[@DavidMarreroM]

i didnt even realise it was looping lol

[@croggdog]

Forgiving student loans is just putting the burden on others. Its silly unless we do something about the root cause which is rediculous tuition fees. Unless that changes we will be right back here in 10 years doing this all over again.

[@grungegirl84]

i was one of these people and i am eternally grateful