Student loan forgiveness: What the latest deadline extension means for borrowers

Student loan expert and attorney Rae Kaplan joined WGN Evening News at 4 p.m. to discuss what the latest extension means for borrowers.

[@voivode2591]

If we had someone who actually knew how to run the country our economy would be great and everyone could pay their bills.

[@frmeade08]

I need my debts forgiven also!

[@williamryder5021]

Bankruptcy does that! 🎉 not student loans but all your other debts

[@mtguitar5150]

Cool, how about I get my tax debt and credit card debt forgiven?

[@williamryder5021]

You can get your credit card debt erased in bankruptcy

[@sagapoetic8990]

Vote. And communicate to your politicians -- especially demand that interest rates be capped in the single digits. That's what inflates your bill like crazy. Politicians count on 50-70% of Americans to NOT vote to keep in office. So go vote and shock then -- let's get a better government it is possible.

[@user-uv9dp4fg3y]

How can one applied? I always try and there’s no friendly website that would help with all different situation ( debt varies from person to person.

[@Rambo-tm9dk]

If student loans are forgiven, give the working people who didn't take out loans a tax break for the year. It's the least to be fair.

[@matthewkopp2391]

Student loan forgiveness does not increase taxes, in fact the student loan borrowers have subsidized YOU financially.

[@stringerfilms.]

FJB

[@btterfly666]

I’ve been lying my loans for 30 years!

[@ronaldreagan-ik6hz]

you borrowed it, you pay it back.

[@ralphalvillar3698]

The rich get richer and the poor have to pay for it...

[@williamryder5021]

Poor ppl get student loans too

[@dannyyoung5299]

Wow, National debt getting much worse…

[@sagapoetic8990]

Do you vote? You should demand Congress restore the law that required government/military contractors to be registered IN the US before they can administer government grants. Why this matters? Not registered in the US means these multibillion dollar corporations do NOT pay taxes to the USG. Meanwhile, a student loan borrower like me has already repaid my original loan. It's the interest rate that is the real problem not discussed in the media. Most of us will have repaid the equivalent of 3 student loans by the time we are done paying because of the interest rates. Meanwhile, large corporations do not pay on the profits they make.

[@Astutecounseling]

This is really helpful! I’m calling Kaplan in the morning!

[@bradknight2618]

Pay your bills like everyone else!

[@williamryder5021]

Okay tell that to all the businesses that got their ppp loans forgiven

[@BretHazlett]

If you went to grad school? And what? Stayed home?

[@LawandOrder-fi5xk]

Make them pay it all back. Vote Biden and these democrats out of office.

[@carlatamanczyk3891]

Why not just knock out mortgage loans for everyone then? And auto loans. Hell why should anyone have to pay back any loan?? Screw the responsible taxpayers to buy democrat votes.

[@user-uv9dp4fg3y]

There’s responsible citizens that have paid taxes but some of us it a bump on the way…as a result it becomes a burden for years to come.

[@williamryder5021]

Technically all money is fake and just something we made up to make ourselves feel better about doing things and getting something for it so they created monetary incentives 🤷‍♂️ so if you could get the whole world to agree and change the way it works. You could make it free 😂😂

[@SimplyTC]

YIKES!

[@Brodstier]

Listen to the lies and deception. 2:30 The guy asked a PERFECT question. He asked “it’s not like waving a wand and your loans are just forgiven right?” And the women responds by telling him “you’re correct it’s not like that.” It is not what everything thinks it is. Do you research and recognize this is not for us.

[@jg0943]

A new analysis from the Committee for a Responsible Federal Budget (CRFB) projects that President Biden's student loan cancellation plans could cost taxpayers a combined $870 billion to $1.4 trillion.May 2, 2024

[@williamryder5021]

I'd rather be funding that then Ukraine, isreal, and weapons manufactures pockets.

[@sagapoetic8990]

Do you vote? You should demand Congress restore the law that required government/military contractors to be registered IN the US before they can administer government grants. Why this matters? Not registered in the US means these multibillion dollar corporations do NOT pay taxes to the USG. Meanwhile, a student loan borrower like me has already repaid my original loan. It's the interest rate that is the real problem not discussed in the media. Most of us will have repaid the equivalent of 3 student loans by the time we are done paying because of the interest rates. Meanwhile, large corporations do not pay on the profits they make.

[@k5kreations604]

😊

[@mrbennyohio1]

I dunno know what you’re smiling about, you’re paying for it.

[@k5kreations604]

@@mrbennyohio1 😂yeah because I have student loans dickwad

[@boukhalfaguem5022]

i nous avons besoin de Trump !!! Votez Trump 2024 !!!

[@alvertosb.p.9424]

Dam! I could have never paid back my student loan, got a free education on tax payers back.

[@BretHazlett]

$165 BILLION FOR FIVE MILLION PEOPLE.

[@elisealexander2882]

Where do we go to get a forgiveness of student loans? 0:57

[@bobbyg433]

Why should we pay for your bills??

[@k5kreations604]

@@bobbyg433 it's the right thing to do

[@user-du7xi3fk6b]

Biden is buying votes from college students.

[@honeste6652]

@@bobbyg433 Same reason she pays for yours.

[@YoshiYosheda]

Thought magatards hated socialism.

[@countrythrift8655]

Dang hope my loans get cancelled but I’m stilling voting Trump.😅😅😅

[@marisamartin3664]

We may not even have a country if they Democrats remain in office. They are actively trying to destroy us.

[@erin4885]

Same but third party

[@marketsharemedia5132]

✅ Windfall profit for the big bank donors and 10% for the big guy

[@wbrown6553]

Someone is paying these “forgiven loans.” Who?

[@mibentoncimarron-memorialh9703]

We are! Let’s borrow money and do not pay it until you are forgiven.

[@williamryder5021]

​@@mibentoncimarron-memorialh9703yep just like we are paying to fund war killing and yachts for corrupt politicians in other countries. Hmmm... I'd rather pay for education.

[@tluvwilson9370]

The government prints monies all the time.. It doesn't need to come from anywhere, but that print machine.. It's just paper, remember

[@matthewkopp2391]

The students. Look up how much is actually collected, it not only exceeds the principle, the money collected is subsidizing YOU.

[@voivode2591]

Criminal

[@YoshiYosheda]

Guess trump supporters are criminals too since theiy are getting their loans wiped out too.

[@mr.nickels7535]

This will drive inflation higher. It’s not free.

[@sagapoetic8990]

Really? The interests rates are astronomical. I technically repaid more than I borrowed but the interest rates result in my repaying the near-equivalency of 3 student loans. No one talks about the interest rates. Kill interest rates on student loans, then it would be easy to repay the actual loan and no issue.

[@scrubz.n.squatz2495]

Who bout to be paying on a loan for 20 yrs that’s a long ass time bruh America sucks 😊have a nice day

[@davidmotyka2708]

Forgiving student loans.Politics determine it. Trump 24.

[@Paramart]

Hyperinflation incoming!

[@mibentoncimarron-memorialh9703]

Hilarious

[@jameskirk796]

Someone please tell me how in hell is this fair to any taxpayer in America if this bill passes?

[@williamryder5021]

Prior to the mid 1960s college was tuition free and tax payer funded until they changed it. There's no reason it can't be don't now. I'd much rather be funding education then war and half the other garbage they waste their money on. It's all totally doable. They just don't want too. They already recieve enough tax money now to take care of it without raising anyone's taxes if they knew how to budget.

[@williamryder5021]

How is it fair that I have to pay taxes on my house forever even after it's paid off and those taxes fund local k-12 schools and multiple other community services that I don't use? Taxes are never really fair. It's not about benefiting you, when you pay it's about funding things that benifit everyone or the community around you, state programs, and federal. Thats how it's always worked. Taxes have never been fair.

[@sagapoetic8990]

Do you vote? You should demand Congress restore the law that required government/military contractors to be registered IN the US before they can administer government grants. Not being registered in the US means these multibillion dollar corporations do NOT pay taxes to the USG. Meanwhile, a student loan borrower like me has already repaid my original loan. It's the interest rate that is the real problem not discussed in the media. Most of us will have repaid the equivalent of 3 student loans by the time we are done paying because of the interest rates. Meanwhile, large corporations do not pay on the profits they make.

[@matthewkopp2391]

Student Loan borrowers are actually subsidizing you. Because the funds subsidizes the healthcare system as dysfunctional as it is. And students routinely don’t have health insurance themselves. That’s not fair either. The current system is very dysfunctional, but the student loan borrowers are in fact being used to subsidize You and not the other way around.

[@sagapoetic8990]

@@matthewkopp2391 Our government subsidizes us -- the lenders pocket most of the money though. The Department of Health might help with some student health insurance. It's NOT coming from the Department of Ed ie our loans. States also aid student health insurance -- DC sure does via expanded Obamacare.

[@jevans9359]

Next we’re going to have to explain Social Security to Republicans while they promote tax cuts for rich people.

[@jasstrom]

Even though well, over 50% of the rich people vote Democrat

[@bigsmoke7381]

Yet I’m sure you think the government is the best place for rich peoples money 😂

[@rocke7398]

Why not give everyone $500 billion?

[@mrbennyohio1]

Oh yeah let me just pay more taxes to pay off other people’s worthless degrees. Can’t sue the schools for their bs degrees, just make us pay for it

[@honeste6652]

Oh yeah, let those other people keep spending more in taxes than you do because they likely earn more just to support you who wish not to be a part of a society, but love to benefit from it.

[@Theextremepessimist]

You took the loan, pay the shit back.

[@iloke11]

Illegal

[@mykline1]

Your child's federal student loans are not loans a parent is responsible for. Those are loans that are the responsibility of the person who got the loans.

[@bobbyg433]

It means we the taxpayers get to flip the bill for these entitled brats. AND we have to pay for the illegal immigrants too. Thanks Biden

[@bradyhack2428]

Student loan forgiveness is for people of all ages. Not just young people. Also some of us pay taxes and have a student loan. So stop being so ignorant about what’s happening.

[@bobbyg433]

@bradyhack2428 if you can't afford it don't buy it dummy

[@nestkeeper]

@@bradyhack2428that’s the pot calling the kettle black. you think it’s so cool that your loans are paid off today. Tomorrow they’ll be coming for your money to give to someone else. SMH.

[@jd-it4on]

There shouldn't be student debt relief, the rest of us have to pay our debts so why in the f should students not jave to do the same. This is crazy.

[@williamryder5021]

Whats crazy is that this ever happened. Education used to be taxpayer funded and free until they changed it a few decades ago so ppl could make profits of every facet of it. - there is no reason at all education shouldn't be free especially in a country like America. It's sad it isn't. And if it was being done right their wouldn't be a student debt problem. - also investing in the education of your citizens is an investment in your nation as a whole. Having an educated work force/population is important.

[@bigsmoke7381]

@@williamryder5021that’s not true at all colleges used to be affordable because government wasn’t involved now the govt is involved and college has become unaffordable, college should have never been subsidized

[@scot9085]

Isnt that sweet to give all that money he owes to his little palestinain and gaza cities and students he hired.. awe isnt that sweet...while Americans are living in tents and are homeles now..smoothces.. how sweet....thank you Biden..FJB

[@relsba]

Probably one of those wonderful steps is to register Democrat for ever!

[@stringerfilms.]

Wow... still dumb 😲

[@BigVegasAlwaysWins]

President Biden Always Doing God's Work 😇🪽

[@ronaldreagan-ik6hz]

Gods work doesnt fuck the public. fool

[@jaturungkabart5554]

If these kids don't have to pay for the loans they promised to pay, then they should have to work for free for about 15 years. What do they call it now? Balancing? Scum.

[@Zinka727]

✍️👍🤲👌🙏👊👏