Biden Administration has backdoored $42 billion in student loans forgiveness..

#1
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BreatheUT

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#2
#2
BreatheUT said:
Remember me telling you guys I have some middle class friends who were pleasantly surprised when their loan balance just disappeared overnight. These are people in administrative positions no matter their income level.


US government cancels $42B in public service workers' student loans under revamped program


US government cancels $42B in public service workers' student loans under revamped program
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I believe this was in place for awhile. Sounds like they are updating it to make accessibility easier, not expanding it.
 
#3
#3
BreatheUT said:
Remember me telling you guys I have some middle class friends who were pleasantly surprised when their loan balance just disappeared overnight. These are people in administrative positions no matter their income level.


US government cancels $42B in public service workers' student loans under revamped program


US government cancels $42B in public service workers' student loans under revamped program
Click to expand...


This tells me all I need to know about this crooked program of theft.

Pennsylvania social worker Colleen Cox, 61, received a letter in late February with a zero balance on her roughly $85,000 in student loans.
 
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#8
#8
TNVOLNAVY said:
This tells me all I need to know about this crooked program of theft.

Pennsylvania social worker Colleen Cox, 61, received a letter in late February with a zero balance on her roughly $85,000 in student loans.
Click to expand...
What person in the world would owe $85k in student loans at age 61? Never mind, I already know.
 
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#11
#11
Biden isn't setting policy. This all comes the leftist democrat socialist operatives put in positions in the WH to push agendas through with Biden rubber stamping it all. That had to be the agreed to trade off if they got him elected President.
 
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#12
#12
Vol737 said:
Biden isn't setting policy. This all comes the leftist democrat socialist operatives put in positions in the WH to push agendas through with Biden rubber stamping it all. That had to be the agreed to trade off if they got him elected President.
Click to expand...

This whole thing reeks of elder abuse - maybe even abuse of a corpse - like Weekend at Bernie's.
 
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#15
#15
Monty is over in the other thread saying fed debt is currently of no concern at 6% of fed outlays. Yet somehow I suppose this debt burden from individuals is overwhelming.
 
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#17
#17
BreatheUT said:
Remember me telling you guys I have some middle class friends who were pleasantly surprised when their loan balance just disappeared overnight. These are people in administrative positions no matter their income level.


US government cancels $42B in public service workers' student loans under revamped program


US government cancels $42B in public service workers' student loans under revamped program
Click to expand...


47 out of 50 states have loan forgiveness programs. Care to comment on any of those?
Is DeSantis a Socialist? Is he picking winners and losers wiping out loans for nurses?

The Full List Of Student Loan Forgiveness Programs By State
 
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#18
#18
Like I said, of several people who I know have admitted this some had over $20K just evaporated without paying in years. Some vote Republican but you would have to be stupid not to take advantage of this socialist program when they are going to hit you for the tax bill later. It's called the government picking winners and losers. The Biden Administration found a program that existed and just twisted it like a pretzel as a socialist giveaway program. Still most people he promised the $400B in giveaways will still be on the hook. But 619k people? Wow.
 
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#22
#22
hog88 said:
That 6% is just the interest on the debt, there is no principle being paid in that 6%.
Click to expand...

I should of said debt "interest".
Just double the fed outlays as they have in years past and it drops to 3%. That is what I think of that BS chart
 
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#24
#24
20 U.S. Code § 1087e - Terms and conditions of loans

(m)Repayment plan for public service employees
(1)The Secretary shall cancel the balance of interest and principal due, in accordance with paragraph (2), on any eligible Federal Direct Loan not in default for a borrower who—
(A)has made 120 monthly payments on the eligible Federal Direct Loan after October 1, 2007, pursuant to any one or a combination of the following—

(i) payments under an income-based repayment plan under section 1098e of this title;

(ii) payments under a standard repayment plan under subsection (d)(1)(A), based on a 10-year repayment period;

(iii) monthly payments under a repayment plan under subsection (d)(1) or (g) of not less than the monthly amount calculated under subsection (d)(1)(A), based on a 10-year repayment period; or

(iv) payments under an income contingent repayment plan under subsection (d)(1)(D); and
(B)
(i) is employed in a public service job at the time of such forgiveness; and
(ii) has been employed in a public service job during the period in which theborrower makes each of the 120 payments described in subparagraph (A).

Seems to have become law in September 2007.
 
#25
#25
RockyTop85 said:
20 U.S. Code § 1087e - Terms and conditions of loans

(m)Repayment plan for public service employees
(1)The Secretary shall cancel the balance of interest and principal due, in accordance with paragraph (2), on any eligible Federal Direct Loan not in default for a borrower who—
(A)has made 120 monthly payments on the eligible Federal Direct Loan after October 1, 2007, pursuant to any one or a combination of the following—

(i) payments under an income-based repayment plan under section 1098e of this title;

(ii) payments under a standard repayment plan under subsection (d)(1)(A), based on a 10-year repayment period;

(iii) monthly payments under a repayment plan under subsection (d)(1) or (g) of not less than the monthly amount calculated under subsection (d)(1)(A), based on a 10-year repayment period; or

(iv) payments under an income contingent repayment plan under subsection (d)(1)(D); and
(B)
(i) is employed in a public service job at the time of such forgiveness; and
(ii) has been employed in a public service job during the period in which theborrower makes each of the 120 payments described in subparagraph (A).

Seems to have become law in September 2007.
Click to expand...

The Biden Administration updated and changed it.
 
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