MicroWaveJan 19, 2024

Biden says he is forgiving $5 billion in student debt for another 74,000 Americans

https://lemmy.world/post/10911153

Biden says he is forgiving $5 billion in student debt for another 74,000 Americans - Lemmy.World

President Biden announced Friday that his administration is forgiving $5 billion in student debt for another 74,000 borrowers, marking the latest round of debt cancellation since the Supreme Court voided the president’s student loan forgiveness program. Mr. Biden said that of the borrowers who can receive relief, nearly 44,000 are teachers, nurses, firefighters and others who are eligible for forgiveness after working 10 years of public service. Almost 30,000 of those who will have their debt wiped clean have been repaying their loans for at least 20 years, but did not get the relief they earned through income-based plans, the president said. With the latest round of student loan forgiveness, more than 3.7 million Americans have had their debt erased under the Biden administration, Mr. Biden said.

Show threadNocturnalMorningJan 19, 2024
Let’s do all of it, and put in place a solution for all future student loans. They are robbing us blind right now, and costing future generations a chance at a debt free life.
Show threadgivesomefucksJan 19, 2024

Yeah, but that’s progressive…

We keep electing democrats that think fixing something at once would be too disruptive.

So they stretch the smallest amount of progress as long as they can, even if that doesn’t make up for damage Republicans do.

Its been like 80 years since moderate Dems told FDR that it was too soon for universal healthcare and Americans had to wait a few more years to make sure it’s a good idea.

And they’re still fucking saying they need to look into it more. It’ll never be time. Student Debt relief shows every indication that it’s going to be the same thing.

Show threadWermhatswormhatJan 19, 2024
I’m not sure why this comment is so controversial. It’s exactly what’s happening. We’ve been talking about this now for forever and almost nothing is happening. It’s wonderful that 74,000 people get some relief but that’s a drop in the ocean. I want it badly but I’ve almost accepted the fact that it’s probably not going to happen.
Show threadFlowVoid
74,000 in addition to the 3.4 million people who already had student loans forgiven. That’s not nothing.
Biden-Harris Administration to Provide 804,000 Borrowers with $39 Billion in Automatic Loan Forgiveness as a Result of Fixes to Income Driven Repayment Plans | U.S. Department of Education

Jan 19, 2024 at 5:03pmWeb
Show threadazimirJan 19, 2024

Including me under the TEPSLF. I was on track to hopefully finish paying off my loans at age 63, but with the TEPSLF it counted the ten years I had already done so they were forgiven after the ten years of public service work I did.

Thank you House/Senate Dems and president Biden!

Show threadWermhatswormhatJan 19, 2024
Sure, I agree the extra 3.4 million people have gotten relief or forgiveness is not nothing, but out of the 45.3 million people (quick Google search) with student loan debt that’s only 13%. It’s great, we’re on the path, but 87% of people still haven’t seen any kind of help, and were drug along being promised help for the last 3 years.
Show threadDesertCreosoteJan 19, 2024

“It’s only 13% and not 100%, so it doesn’t count!”

The Supreme Court blocked his attempt last year to forgive debt for another 43 million people, which was set to take effect before repayments started back up. He’s trying to help but is being blocked by conservatives who want him to fail so Trump can be reelected.