This is how quickly Biden’s new student loan forgiveness program can start | Just the FAQs

The Education Department announced a major overhaul to the loan forgiveness program that will erase 22,000 borrower’s debt close to $1.7 billion.

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[peterson]

I’m glad i could payoff my debts. Student debt has held back many student with high prospects from reaching great heights. Paying off usually isn’t easy. If you plan on taking this loan then you shouldn’t have to wait until you’re out of college before planning on how to payoff

[MF-tyzn]

How about making tuition affordable instead of making people spend their lifetime in debt?

When I went to college, I did not take out a loan. It was paid out of savings, but the entire cost years ago was $10k living at home. Now the cost varies depending on where you go, but my university is now $40k without room and board. Seems to me either costs are not reasonable or salaries aren't reasonable.

According to Robert Reich, college used to be free and was paid for by wealthy people via taxes.

[mathurex]

We wouldn't constantly have these debt crises if we would stop getting the government involved. Tuition increased massively as a direct result of government-backed loans. We keep shooting ourselves in the foot.

[LawrenceMeisel]

In the 90s, state governments cut funding for colleges and universities. Colleges and universities raised tuition to make up the difference. People continued to enroll and took out loans to cover the higher costs. Then for-profit colleges got into the act. No one stopped to consider that they could make six figures a year by going to a tech school to become a plumber, welder, carpenter, or electrician etc. The idea that a college degree guaranteed a secure high-paying job with a comfortable lifestyle was true after WWII and through the 50s, 60s, and 70s but it stopped being true during the recession of the early 80s. Now it is just an unfounded assumption. There are still good reasons to go to college (read In Defense of a Liberal Education by Fareed Zakaria) but a guarantee of a secure high-paying job is no longer one of them.

[defended]

*you took out a loan, pay it back*

its really that simple

[tradeviolin]

He can't forgive debt, its just being transferred to generation z tax payers.

[timjohnson]

Reform education. The costs go down and the students don't have to have the giant loans.

[gerardomartinez]

Education on its current form is overvalued change my mind.

[kelvincorbin]

NICE VIDEO !!! Very engaging from the beginning to the END.Nevertheless business and investment are the best way to make money irrespective of the pandemic 😷

[rogermcneil]

Because of the economic crisis and the rate of unemployment, now is the best time to invest and make money 💯

[justinreed]

I love how we want to cancel school debt because it’s so terrible and all, meanwhile our government wants to plunge us so far into debt we’ll never be able to recover. What is the actual return people are getting with there degrees vs debt? I mean our leaders don’t think you should have to pay back loans but they think it’s wise to put us in debt.

[timmylittle]

So cool. I paid off my own loans, and now I get the privilege to pay off other peoples.

[madmaxfeanor]

People who don't even make 15$ per hour have to start paying for rich kids' college loans. That should've been the title.

[dasjuggernaut]

Every time government gets involved in something THE PRICE GOES UP! This is one of the reasons a college education costs so much and is worth less than what you pay for it.

[michaelmilken]

I graduated from Cal State Long Beach when I was 21 in 1988. My whole 4 year, 8 semester education was less than $6500. Tuition increases should not be able to surpass the rate of inflation. College tuition has gone up faster than health care in the last 30 years. The problem started when the government got involved with student loans so "everyone can go to college." Not everyone needs to go to college, nor should they. Students don't need loan forgiveness. They need to riot at the schools every time there is a tuition increase which is the financial equivalent of a knee to the neck for longer than 8 minutes.

[adamphelps]

*The philosophy of the rich and the poor is that: the rich invest their money and spend what is left. The poor spend their money and invest what is left.*

[alison]

Who's here in december when Biden went "nah, nevermind"

[Joe-idbd]

What about those of us that worked full time to pay for our education? What about the families that sacrificed to save for their childs education?

[JE-western-rider]

Based on a student's career path, the student should be limited to total amount amount that can be loaned for a specific degree and spread out over each semester of classes.

[Fixingtodraw]

People don't go out and take out a loan for college. Those loans aren't just simply forgiven. Someone will foot the bill.