Biden announces arrangement for student loan debt forgiveness

President Joe Biden announced an "income-driven repayment plan," giving debt relief to people earning less than $125,000.

#abcnews #studentloandebt #biden #relief

[Amor_Fati_]

This doesn’t fix the issue though. Colleges still are charging way too much for college.

[Alexa-uklj]

There needs to be more reports on how the gov't allowed the education system to be manipulated for profit by their corporate investors. Too much focus is placed on the working citizen, and not on the manipulations and predatory practices of student loan lenders, servicers, and universities. All of these companies had teams of lawyers and financial professionals creating products and writing contracts but somehow people still point their finger at generations of former 18-25 years for attempting to get a higher education.

[kyleinthecloud]

“After paying your loan for 20 years” lmao thanks for reminding us how much we’re getting screwed on college tuition. If I have to pay 20 years on something that only takes 2-4 years to learn, sounds like a scam to me.

[alblack]

Whether your against it or for it, Student Loans are predatory and for decades have favored the lending institutions.

[shawnwieber]

Also the university should be the ones for giving these loans not the federal government not the taxpayer

[AmericanAntiCorruptionAct]

Student debt is not about irresponsible young people taking out more loans than they'll be able to pay back.

It's about a corruption cycle between loan companies, lobbyists, and our lawmakers, designed to make them rich and powerful — AT YOUR EXPENSE.

[caustinolino]

Bailouts need to be paired with reform. Will all the random universities charging $30K/yr for worthless degrees have to stop? Thousands of university profs and admins making $200K/yr want to know if their gravy train is secure.

[jackass]

Clearly the federal government should not be in the business of loaning money for anything.

[karlmahlmann]

Maybe they can't "Spread the wealth around", but at least they can spread the debt (and poverty) around.

[mindfullymellow]

Sent my kid across the pond to university. Nothing prestigious, but a decent school that was still cheaper than sending him to an in-state school here. Even factoring in living and travel costs. No need for student loans, thankfully.

[anthonymcmullen]

I got a $6, 000 student loan. with interest and them sailing my student loans to three different debt recovery companies I've payed $150.00 a month since 2001 over 20K for a 6 thousand $ loan. Over 20 yrs and I still owe 600$. My next door neighbors living on Social Security that's there only income they taking $ from his wife SSI check that pays the interest rate only. I don't care what anyone says it's a racket and the government in on it.

[SeanNMathis]

What an absolute joke this is!! Where does everyone think the money is going to come from??

[Riclmnopp]

The people that paid their loans off and the people that couldn't afford to go to college will now have to pay off other people's loans.

[MRALEX]

So the People that Decided to Go to work instead of going to college are the ones paying for all this debt and not the ones who opted to go to college instead of working?

[Hdhfhhdh]

Even though I don’t agree with student loan forgiveness, I would rather that money used to forgive student loan debt than sending that to Ukraine

[rpgallagher]

How dumb does he sound??? “Finally people can catch up on there bills.” The loan payments have been frozen for 2 years

[bennyswill]

Can they count working in EMS or healthcare as public service? That would be nice. I’ve worked as a paramedic for several years, none of it has counted toward loan forgiveness.

[aklilrostai]

Mr. President, why place a cap at 125k? What about forgiving loans for health care providers and first responders who put themselves in severe danger, and m disease like Covid. This is not unfair to the rest of us who owe massive student loans.

[yikesalot]

What the hell. What about those that worked hard and paid their loan in the past. This is stupid. No wonder why we are in debt as a country.

[Al_Catraz]

"Biden announces arrangements [for securing votes for next term]"