He Doesn't Have The Right To Do This.

President Joe Biden unveiled a plan to cancel $10,000 in student loans per borrower earning under $125,000, as well as $20,000 per borrower who paid for college using Pell Grants. He may have the power, but he doesn't have the right.

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[matt]

The real fix: the universities should be required to loan this money and eat the bad debt. I saw recently a college football coach got a 90 plus million dollar contract. Use that money to pay a loan or two.

[bonniedavio]

Meanwhile, people who want to pursue careers in a trade (plumber, carpenter, electrician etc) are forgotten regarding the cost of THEIR education! Yet these are important jobs we can't do without!

[catmandude]

Imagine if you went on vacation for 5 years and charged $175, 000 in services on credit and then cried to the govt that you couldn't afford the payments, and they paid for it with other peoples' money. That's what door was just opened.

[ua]

Doesn't matter if he doesn't have the power or right to do a lot of things he's done. If he assumes the power or right and no one does or says anything the results are the same.

[moonshadowessentialssoapsn]

That was the best Anthony Fauci impression I’ve ever heard! Lol

[pigglypoof]

I have debt and I choose to pay for it, my children or anyone else’s children shouldn’t have to pay for my debt

[kidantrim]

Congratulations College grads, the government just bailed you out of the most expensive piece of toilet paper you will ever buy!

[sumone]

When people don't fight back, they don't have a fuckin' right to Tired of this bull

[MAGA-kwol]

All I know is my wife and I both worked 2 jobs to put our children through college and pay off loans, so what about us, we aren’t rich we just did the right thing and worked very hard, what this does is reward people for lazy

[AlanRoehrich]

Exactly. Nowhere does the Constitution authorize those actions.

[longshankdrills]

Yeah only now they're saying it's going to be more like $500 billion !!!! All these students that signed on the dotted line willingly to pay back their student loans, need to pay back their own student loans. Nobody forced them to sign on the contract, they agreed to it !!!!

[dawnbrady]

Went shopping and every i passed agreed with my lets go brandon shirt for this one. If he ever shows his contempt for working responsible people this is it.

[totalprocall]

This will backfire...imagine the amount of angry people who have not long since payed their debts.

[ericmoore]

This is bad policy for so many reasons. This kind of spending/transfer of debt to the public tax payer is not only completely immoral, but financially inexcusable in this economy. It is a temporary fix or bandaid for current borrowers but doesn’t do anything for those that held off on building a family, buying a home, buying a car, moving to another state for a risky career jump because they stayed in a secure job while they paid off loans, nor does it help future borrowers. This will only encourage more people to enter into majors that have no real field or economic/job security such as gender studies, ethnic studies etc or declining industries. Colleges profit off of students entering into majors and programs that have lower rates of entry into said field like gender studies, ethnic studies, many arts degrees unless they’re a specialty program for it. Otherwise these predatory college majors just lead to students realizing they have no future in that area and then getting another degree afterward in something that will actually get them a paycheck.

[catmandude]

So the predatory lenders and over-inflated universities are not on the hook whatsoever AND allowed to continue business as usual to make the problem worse? Good solution.

[angiebervinkle]

so do we get the boost in credit for paying off a loan

[stevensmith]

Government web site states pell grants don’t have to be repaid, it’s not a loan, what’s up with that?

[mvr]

It is super easy for them to flip barely an inconvenience because they have so many zealots that will just explain it away and accept it.

[Stones_Throw]

How does a president have the authority to spend hundreds of billions on their own?

[carolwellsfries]

Then Congress should have stepped in twenty years ago and lowered the interest rates, the collections fees by the federal government agencies and the tuition rates that universities and colleges are charging ... it needs a major overhaul ... also stop the free tuition to illegals and non American persons