President Biden expected to make big announcement about student loan forgiveness

President Joe Biden on Wednesday is set to announce his long-delayed move to forgive up to $10,000 in federal student loans for many Americans and extend a pause on payments to January, according to three people familiar with the plan.

According to multiple sources, the plan would likely be to forgive $10,000 per borrower making less than $125,000 a year.

[jeffcann]

The irony of this entire thing is student loans are the reason college is so expensive. If you create artificial demand what the hell do people think will happen to the price?

[gwiz]

I thought “buying” votes was illegal?!🤔

[protomimic]

10k is not forgiveness it's paying the interest that's it

[Cosigner]

What a joke... This whole country has turned into a huge joke. Y'all got exactly what you voted for.

[russellwatts]

So glad I could work two jobs through college, and then sacrifice family trips, luxuries, etc. to pay off my loans. Now I get to pay off lazy dumbasses loans because the idea of paying back money you borrowed is against your human rights.

[LiftingGunsBibleTradition]

Right before the midterms 😂 Throw money at it to see if we can buy votes 🗳

[brianhagen]

Either way, one issue to me is why the cost of college is so much higher than it was. Even adjusting for inflation, etc., today's higher education cost is (IMHO) unreasonable. I think that the real solution is to make arrangements for the actual costs to be more affordable.

[fadingwolf]

There is no student loan 'forgiveness'; just a transfer of the debt to people who didn't borrow the money.

[johannderjager]

The problem is that people are basically pushed to go to college as soon as they graduate Highschool. They should be encouraged to wait and save up beforehand.

[superluc]

took 2 years for them to figure out a plan to resolve the student debt problem... and this is the best they got?

[robertallred]

First he was going to forgive it all, then $50k, now it's $10k. Next week it will be $1.50

[nelsonmuntz]

Don’t fall for it again people. He did this last time, remember? I’m a big believer in paying off what you owe, it’s not the responsibility of the taxpayers.

[nullfield]

They should ban these loans from being handed out to begin. If you work and pay rent but can't qualify for a home loan why should a student qualify for a loan that they have no income to pay off.

[doomtomb]

Tomorrow: college tuition increases by $10k across the board

[sincerdagain]

I wasn't able to go to college so I want my house paid off!!

[ksf]

Scary! Can’t believe we have to pay for this. Will increase inflation.

[tank]

Forgive all the debt you want Joe, still not voting for you.

[TheTcswhite]

It's transferring debt, not cancelling... Transferring it to future generations of tax payers. Sounds fair to our children and grandchildren. Good job everyone.

[vickisotomayorleroy]

All the while he’s hiring 87, 000 new armed IRS Agents!

[numbersletters]

The White House BETTER NOT!! I SPENT TEN YEARS PAYING MINE OFF!!!