Student debt is going to explode next year. Students are going to take this as a signal to borrow with the expectation to never repay their debt.
Student debt is going to explode next year. Students are going to take this as a signal to borrow with the expectation to never repay their debt.
Another terrible policy from a terrible administration.
Democrats just doing what they do best.
Take stolen money to buy votes.
Natural Immunity Croc
Will the 10k be taxable income?
acesfull86 (08-24-2022), Tapate50 (08-23-2022)
F this. What about the ones who paid off their debt or worked their way through school and have no debt?
I expect a lot of pretzel twisting logic when this announcement comes out:
- loan cancellation would stimulate the economy, they said (back when it needed stimulating), but miraculously, those same folks will argue it won’t be inflationary now (when we certainly don’t need to exacerbate inflation)
- the economy is doing great, they say, yet people with college degrees making over $100k a year require a bailout and yet another student loan payment pause
- sure over 70% of the benefits will flow to those in the top half of the income distribution, but those at the bottom will still feel the largest magnitude of the impact, they’ll say, using the very argument they’ve rejected for years whenever (R) pushed a tax cut
My mortgage identifies as a student loan
acesfull86 (08-24-2022), Garmel (08-24-2022), Tapate50 (08-24-2022)
And they're extending the payment pause hahahahahahaha
What a complete joke this. Absolutely theft
Forbes has a headline that some may get 20k, but I can't read the article. Thought it was 10k across the board
“People think the president of the United States has the power for debt forgiveness. He does not. He can postpone. He can delay. But he does not have that power. That has to be an act of Congress," House Speaker Nancy Pelosi, D-Calif., said last month.