The current freeze was set to expire by the end of the month, but rumors suggested that it would be extended once again until August.
40,000 individuals will now receive “immediate debt cancellation,” per the new guidelines for the Public Service Loan Forgiveness Program. Roughly 4 million more may see some form of debt forgiveness moving forward.
Student loans were never meant to be a life sentence, but it’s certainly felt that way for borrowers locked out of debt relief they’re eligible for. Today, the Department of Education will begin to remedy years of administrative failures that effectively denied the promise of loan forgiveness to certain borrowers enrolled in IDR plans.
These actions once again demonstrate the Biden-Harris administration’s commitment to delivering meaningful debt relief and ensuring federal student loan programs are administered fairly and effectively.
U.S. Secretary of Education Miguel Cardona wrote in the release.
It leads to young people not wanting to have families. It means young people aren’t able to buy homes.
Ro Khanna, California Representative told Fox News.
AUTHOR COMMENTARY
Biden and the feds will not be forgiving a dime: YOU, the American tax cattle will, through inflation and higher taxes.
[21] The wicked borroweth, and payeth not again: but the righteous sheweth mercy, and giveth. [22] For such as be blessed of him shall inherit the earth; and they that be cursed of him shall be cut off.Psalms 37:21-22
This nation is full of thieves and robbers, who intentionally go out of their way to get into debt, and then expect honest and hardworking people to pay for their greed and arrogance. Truthfully I did not think they would actually give debt forgiveness, but it is clear that that is what they will do moving forward. Though, I would not be surprised to see some district courts challenge this. All this is designed to do is further cull the middle class.
[7] Who goeth a warfare any time at his own charges? who planteth a vineyard, and eateth not of the fruit thereof? or who feedeth a flock, and eateth not of the milk of the flock? [8] Say I these things as a man? or saith not the law the same also? [9] For it is written in the law of Moses, Thou shalt not muzzle the mouth of the ox that treadeth out the corn. Doth God take care for oxen? [10] Or saith he it altogether for our sakes? For our sakes, no doubt, this is written: that he that ploweth should plow in hope; and that he that thresheth in hope should be partaker of his hope. (1 Corinthians 9:7-10).
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What’s the point of putting in the work to have your tuition paid via scholarships if everyone’s tax dollars can pay for your lazy boneheaded @$$?! Not to mention you’re probably blowing all the money to pay off your debt on a bunch of dumb material stuff or booze, etc . that you don’t need anyway… then again, you can get by quite fine in life without college.
Amen. I dropped out of college. Community college but still. Universities are worse. Useless retarded majors like women/gender studies, ethnic studies, philosophy, psychology, sociology, feminist studies, and so on the list goes on. Then they wonder why their degree is just a pricy piece of toilet paper and they can’t find a career other than bussing tables or working drive thru.
In England, students have to pay for at £15K per year for a courses, even at shitty universities. In Scotland no fees are paid, all uni courses are free (if your scottish) – this is best – it is in the populations interest to educate it’s children to a high level in order for that country to compete at it best in a world-wide competitive market and then draw back that investment via world-wide home-made product sale success, against competing products and services of other countries.
In Holland, its normal for uni students to study and hold down a job – something that was not common at all in England 20 years ago, but is very common today.
In Holland they always take plastic bags with them when shopping, which was never the case in England, plastic bags were freely given by shops. Now that a charge is made, most people do what the dutch have been doing for decades.